Can I retire at age 54 with 998,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$82,414$81,680$80,964$80,265$79,582$77,975
2 years$40,799$40,039$39,303$38,589$37,896$36,284
3 years$26,929$26,166$25,431$24,724$24,043$22,476
4 years$19,996$19,235$18,508$17,812$17,148$15,638
5 years$15,837$15,080$14,363$13,682$13,035$11,588
6 years$13,065$12,314$11,607$10,941$10,314$8,930
7 years$11,086$10,341$9,646$8,995$8,388$7,068
8 years$9,602$8,865$8,180$7,546$6,959$5,701
9 years$8,449$7,718$7,046$6,428$5,860$4,665
10 years$7,527$6,803$6,143$5,541$4,993$3,859
11 years$6,773$6,056$5,408$4,822$4,294$3,220
12 years$6,145$5,436$4,799$4,230$3,722$2,705
13 years$5,614$4,913$4,288$3,734$3,245$2,285
14 years$5,159$4,465$3,853$3,315$2,845$1,940
15 years$4,766$4,079$3,478$2,956$2,505$1,652
16 years$4,422$3,743$3,154$2,647$2,214$1,412
17 years$4,118$3,447$2,870$2,378$1,963$1,210
18 years$3,849$3,185$2,620$2,143$1,745$1,039
19 years$3,608$2,952$2,398$1,937$1,556$894
20 years$3,392$2,743$2,201$1,754$1,389$770
21 years$3,196$2,555$2,024$1,592$1,243$665
22 years$3,019$2,385$1,866$1,447$1,115$574
23 years$2,857$2,231$1,723$1,318$1,000$497
24 years$2,709$2,090$1,593$1,202$899$430
25 years$2,573$1,961$1,476$1,098$809$372
26 years$2,448$1,843$1,369$1,004$729$323
27 years$2,332$1,735$1,271$919$657$280
28 years$2,224$1,635$1,181$842$593$243
29 years$2,124$1,542$1,099$772$535$211
30 years$2,031$1,456$1,024$709$484$183
31 years$1,945$1,377$955$651$437$159
32 years$1,863$1,303$891$598$396$138
33 years$1,787$1,234$832$550$358$120
34 years$1,716$1,169$777$506$324$104
35 years$1,648$1,109$727$466$294$91
36 years$1,585$1,053$680$429$266$79
37 years$1,525$1,000$636$395$241$69
38 years$1,469$950$596$364$219$60
39 years$1,415$903$558$336$198$52
40 years$1,364$860$523$310$180$45
41 years$1,316$818$491$286$163$39
42 years$1,271$779$460$264$148$34
43 years$1,227$742$432$244$134$30
44 years$1,186$708$405$225$122$26
45 years$1,146$675$381$208$111$22
46 years$1,109$644$357$192$101$20
47 years$1,073$614$336$177$91$17
48 years$1,039$587$316$164$83$15
49 years$1,006$560$297$151$75$13
50 years$974$535$279$140$68$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $998,000, adding $3,614 every year, while hoping to spend $25,198 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 52/21/27 Blend
53$998,000$998,000$998,000$998,000
54$1,103,524$1,050,630$1,035,161$1,152,393
55$1,189,273$1,075,300$1,043,028$1,211,371
56$1,282,924$1,100,335$1,050,315$1,272,646
57$1,385,256$1,125,725$1,056,974$1,338,801
58$1,497,127$1,151,461$1,062,958$1,410,312
59$1,619,482$1,177,531$1,068,216$1,487,703
60$1,753,362$1,203,922$1,072,693$1,571,554
61$1,899,911$1,230,621$1,076,334$1,662,501
62$2,060,391$1,257,610$1,079,081$1,761,248
63$2,236,190$1,284,872$1,080,869$1,868,569
64$2,428,839$1,312,388$1,081,636$1,985,318
65$2,640,021$1,340,136$1,081,311$2,112,437
66$2,871,593$1,368,092$1,079,824$2,250,963
67$3,125,596$1,396,230$1,077,100$2,402,042
68$3,404,283$1,424,521$1,073,059$2,566,934
69$3,710,132$1,452,935$1,067,618$2,747,030
70$4,045,874$1,481,437$1,060,692$2,943,864
71$4,414,517$1,509,991$1,052,188$3,159,126
72$4,819,374$1,538,557$1,042,013$3,394,679
73$5,264,095$1,567,092$1,030,066$3,652,578
74$5,752,703$1,595,549$1,016,243$3,935,088
75$6,289,626$1,623,878$1,000,434$4,244,705
76$6,879,744$1,652,025$982,526$4,584,184
77$7,528,435$1,679,931$962,397$4,956,558
78$8,241,622$1,707,534$939,924$5,365,173
79$9,025,830$1,734,766$914,974$5,813,717
80$9,888,250$1,761,554$887,411$6,306,256
81$10,836,802$1,787,822$857,090$6,847,273
82$11,880,216$1,813,485$823,862$7,441,709
83$13,028,106$1,838,454$787,570$8,095,011
84$14,291,069$1,862,634$748,050$8,813,183
85$15,680,778$1,885,923$705,129$9,602,846
86$17,210,096$1,908,212$658,630$10,471,296
87$18,893,196$1,929,384$608,363$11,426,576
88$20,745,693$1,949,315$554,135$12,477,555
89$22,784,795$1,967,873$495,740$13,634,005
90$25,029,461$1,984,915$432,964$14,906,701
91$27,500,582$2,000,293$365,585$16,307,519
92$30,221,179$2,013,844$293,369$17,849,550
93$33,216,615$2,025,399$216,073$19,547,224
94$36,514,842$2,034,776$133,444$21,416,447
95$40,146,657$2,041,781$45,215$23,474,751
96$44,145,998$2,046,209$0$25,741,460
97$48,550,259$2,047,843$0$28,251,976
98$53,400,647$2,046,450$0$31,030,493
99$58,742,571$2,041,783$0$34,089,939
100$64,626,065$2,033,583$0$37,458,927