Can I retire at age 54 with 970,000?

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 $970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$80,102$79,388$78,692$78,013$77,349$75,387
2 years$39,654$38,916$38,200$37,506$36,833$34,869
3 years$26,174$25,432$24,718$24,030$23,368$21,464
4 years$19,435$18,695$17,988$17,313$16,666$14,836
5 years$15,392$14,657$13,960$13,298$12,670$10,919
6 years$12,698$11,969$11,282$10,634$10,025$8,355
7 years$10,775$10,051$9,375$8,743$8,153$6,564
8 years$9,333$8,616$7,951$7,334$6,764$5,255
9 years$8,212$7,502$6,848$6,247$5,696$4,267
10 years$7,315$6,612$5,970$5,385$4,853$3,501
11 years$6,583$5,887$5,256$4,687$4,174$2,897
12 years$5,972$5,283$4,665$4,111$3,617$2,414
13 years$5,456$4,775$4,168$3,629$3,154$2,021
14 years$5,015$4,340$3,745$3,222$2,765$1,700
15 years$4,632$3,965$3,381$2,873$2,434$1,435
16 years$4,297$3,638$3,065$2,573$2,152$1,215
17 years$4,003$3,350$2,789$2,311$1,908$1,032
18 years$3,741$3,096$2,546$2,083$1,696$877
19 years$3,507$2,869$2,331$1,882$1,512$748
20 years$3,297$2,666$2,139$1,705$1,350$638
21 years$3,107$2,483$1,968$1,547$1,209$545
22 years$2,934$2,318$1,814$1,407$1,083$466
23 years$2,777$2,168$1,674$1,281$972$399
24 years$2,633$2,031$1,549$1,168$874$342
25 years$2,501$1,906$1,434$1,067$786$293
26 years$2,379$1,792$1,330$976$708$251
27 years$2,266$1,686$1,235$893$639$216
28 years$2,162$1,589$1,148$818$576$185
29 years$2,065$1,499$1,069$750$520$159
30 years$1,975$1,415$995$689$470$137
31 years$1,890$1,338$928$632$425$117
32 years$1,811$1,266$866$581$385$101
33 years$1,737$1,199$808$535$348$87
34 years$1,668$1,136$755$492$315$75
35 years$1,602$1,078$706$453$285$64
36 years$1,541$1,023$661$417$259$55
37 years$1,482$972$618$384$234$47
38 years$1,427$923$579$354$212$41
39 years$1,375$878$542$326$193$35
40 years$1,326$835$508$301$175$30
41 years$1,279$795$477$278$159$26
42 years$1,235$757$447$256$144$22
43 years$1,193$722$420$237$131$19
44 years$1,152$688$394$219$119$17
45 years$1,114$656$370$202$108$14
46 years$1,078$626$347$186$98$12
47 years$1,043$597$326$172$89$11
48 years$1,009$570$307$159$81$9
49 years$978$544$288$147$73$8
50 years$947$520$271$136$66$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $970,000, adding $6,932 every year, while hoping to spend $47,262 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: 35/44/21 Blend
53$970,000$970,000$970,000$970,000
54$1,076,090$1,024,680$1,009,645$1,106,668
55$1,135,565$1,024,603$993,182$1,129,692
56$1,199,522$1,022,938$974,583$1,149,657
57$1,268,369$1,019,558$953,727$1,170,230
58$1,342,553$1,014,327$930,488$1,191,492
59$1,422,566$1,007,100$904,731$1,213,539
60$1,508,946$997,727$876,318$1,236,478
61$1,602,287$986,044$845,103$1,260,432
62$1,703,241$971,881$810,935$1,285,540
63$1,812,525$955,056$773,654$1,311,960
64$1,930,925$935,377$733,094$1,339,871
65$2,059,308$912,639$689,081$1,369,476
66$2,198,626$886,627$641,434$1,401,003
67$2,349,926$857,112$589,963$1,434,709
68$2,514,361$823,853$534,469$1,470,884
69$2,693,197$786,594$474,746$1,509,854
70$2,887,830$745,063$410,576$1,551,985
71$3,099,793$698,975$341,734$1,597,688
72$3,330,774$648,027$267,985$1,647,423
73$3,582,632$591,899$189,081$1,701,706
74$3,857,410$530,253$104,766$1,761,113
75$4,157,361$462,730$14,770$1,826,289
76$4,484,962$388,953$0$1,897,956
77$4,842,939$308,524$0$1,995,128
78$5,234,296$221,019$0$2,105,207
79$5,662,339$125,993$0$2,225,949
80$6,130,708$22,977$0$2,358,542
81$6,643,411$0$0$2,504,301
82$7,204,862$0$0$2,707,548
83$7,819,922$0$0$2,942,528
84$8,493,942$0$0$3,200,179
85$9,232,819$0$0$3,482,772
86$10,043,045$0$0$3,792,809
87$10,931,772$0$0$4,133,046
88$11,906,875$0$0$4,506,518
89$12,977,030$0$0$4,916,569
90$14,151,794$0$0$5,366,882
91$15,441,694$0$0$5,861,515
92$16,858,326$0$0$6,404,939
93$18,414,464$0$0$7,002,076
94$20,124,181$0$0$7,658,351
95$22,002,980$0$0$8,379,742
96$24,067,939$0$0$9,172,832
97$26,337,874$0$0$10,044,876
98$28,833,516$0$0$11,003,865
99$31,577,702$0$0$12,058,605
100$34,595,595$0$0$13,218,798