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%11.2%
1 years$82,414$81,680$80,964$80,265$79,582$79,180
2 years$40,799$40,039$39,303$38,589$37,896$37,491
3 years$26,929$26,166$25,431$24,724$24,043$23,646
4 years$19,996$19,235$18,508$17,812$17,148$16,763
5 years$15,837$15,080$14,363$13,682$13,035$12,663
6 years$13,065$12,314$11,607$10,941$10,314$9,956
7 years$11,086$10,341$9,646$8,995$8,388$8,044
8 years$9,602$8,865$8,180$7,546$6,959$6,628
9 years$8,449$7,718$7,046$6,428$5,860$5,543
10 years$7,527$6,803$6,143$5,541$4,993$4,690
11 years$6,773$6,056$5,408$4,822$4,294$4,004
12 years$6,145$5,436$4,799$4,230$3,722$3,444
13 years$5,614$4,913$4,288$3,734$3,245$2,981
14 years$5,159$4,465$3,853$3,315$2,845$2,593
15 years$4,766$4,079$3,478$2,956$2,505$2,265
16 years$4,422$3,743$3,154$2,647$2,214$1,986
17 years$4,118$3,447$2,870$2,378$1,963$1,746
18 years$3,849$3,185$2,620$2,143$1,745$1,540
19 years$3,608$2,952$2,398$1,937$1,556$1,361
20 years$3,392$2,743$2,201$1,754$1,389$1,205
21 years$3,196$2,555$2,024$1,592$1,243$1,069
22 years$3,019$2,385$1,866$1,447$1,115$950
23 years$2,857$2,231$1,723$1,318$1,000$845
24 years$2,709$2,090$1,593$1,202$899$753
25 years$2,573$1,961$1,476$1,098$809$671
26 years$2,448$1,843$1,369$1,004$729$599
27 years$2,332$1,735$1,271$919$657$535
28 years$2,224$1,635$1,181$842$593$478
29 years$2,124$1,542$1,099$772$535$428
30 years$2,031$1,456$1,024$709$484$383
31 years$1,945$1,377$955$651$437$343
32 years$1,863$1,303$891$598$396$307
33 years$1,787$1,234$832$550$358$275
34 years$1,716$1,169$777$506$324$247
35 years$1,648$1,109$727$466$294$221
36 years$1,585$1,053$680$429$266$198
37 years$1,525$1,000$636$395$241$178
38 years$1,469$950$596$364$219$160
39 years$1,415$903$558$336$198$143
40 years$1,364$860$523$310$180$129
41 years$1,316$818$491$286$163$116
42 years$1,271$779$460$264$148$104
43 years$1,227$742$432$244$134$93
44 years$1,186$708$405$225$122$84
45 years$1,146$675$381$208$111$75
46 years$1,109$644$357$192$101$68
47 years$1,073$614$336$177$91$61
48 years$1,039$587$316$164$83$55
49 years$1,006$560$297$151$75$49
50 years$974$535$279$140$68$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $998,000, adding $6,622 every year, while hoping to spend $49,260 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: 41/29/30 Blend
53$998,000$998,000$998,000$998,000
54$1,106,627$1,053,733$1,038,264$1,142,014
55$1,167,090$1,052,953$1,020,633$1,167,544
56$1,232,070$1,050,485$1,000,761$1,190,100
57$1,301,975$1,046,192$978,520$1,213,596
58$1,377,254$1,039,933$953,778$1,238,149
59$1,458,399$1,031,555$926,395$1,263,892
60$1,545,952$1,020,897$896,225$1,290,978
61$1,640,507$1,007,789$863,117$1,319,574
62$1,742,718$992,050$826,911$1,349,873
63$1,853,303$973,489$787,440$1,382,089
64$1,973,053$951,902$744,532$1,416,464
65$2,102,834$927,075$698,004$1,453,267
66$2,243,601$898,780$647,665$1,492,802
67$2,396,405$866,777$593,318$1,535,409
68$2,562,399$830,810$534,755$1,581,468
69$2,742,854$790,609$471,759$1,631,403
70$2,939,166$745,891$404,105$1,685,689
71$3,152,874$696,352$331,555$1,744,856
72$3,385,667$641,674$253,862$1,809,494
73$3,639,409$581,519$170,770$1,880,262
74$3,916,147$515,532$82,009$1,957,894
75$4,218,136$443,335$0$2,043,207
76$4,547,858$364,530$0$2,141,181
77$4,908,045$278,698$0$2,277,037
78$5,301,704$185,393$0$2,425,719
79$5,732,148$84,147$0$2,588,580
80$6,203,022$0$0$2,767,116
81$6,718,339$0$0$2,971,129
82$7,282,522$0$0$3,224,011
83$7,900,436$0$0$3,501,106
84$8,577,444$0$0$3,804,835
85$9,319,448$0$0$4,137,862
86$10,132,950$0$0$4,503,124
87$11,025,111$0$0$4,903,853
88$12,003,818$0$0$5,343,611
89$13,077,760$0$0$5,826,321
90$14,256,504$0$0$6,356,303
91$15,550,592$0$0$6,938,318
92$16,971,634$0$0$7,577,609
93$18,532,422$0$0$8,279,953
94$20,247,044$0$0$9,051,713
95$22,131,024$0$0$9,899,899
96$24,201,462$0$0$10,832,235
97$26,477,196$0$0$11,857,230
98$28,978,982$0$0$12,984,257
99$31,729,684$0$0$14,223,645
100$34,754,496$0$0$15,586,773