Can I retire at age 54 with 973,000?

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 $973,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$80,349$79,634$78,935$78,254$77,588$74,925
2 years$39,777$39,036$38,318$37,622$36,947$34,291
3 years$26,255$25,511$24,794$24,105$23,441$20,875
4 years$19,495$18,753$18,044$17,366$16,718$14,263
5 years$15,440$14,703$14,003$13,339$12,709$10,370
6 years$12,737$12,006$11,316$10,667$10,056$7,836
7 years$10,808$10,082$9,404$8,770$8,178$6,076
8 years$9,361$8,642$7,975$7,357$6,785$4,799
9 years$8,237$7,525$6,869$6,267$5,714$3,842
10 years$7,338$6,633$5,989$5,402$4,868$3,108
11 years$6,603$5,905$5,272$4,701$4,187$2,534
12 years$5,991$5,300$4,679$4,124$3,628$2,079
13 years$5,473$4,789$4,180$3,641$3,164$1,714
14 years$5,030$4,353$3,756$3,232$2,773$1,419
15 years$4,646$3,977$3,391$2,882$2,442$1,179
16 years$4,311$3,649$3,075$2,581$2,158$982
17 years$4,015$3,360$2,798$2,319$1,914$819
18 years$3,752$3,105$2,554$2,090$1,702$685
19 years$3,518$2,878$2,338$1,888$1,517$574
20 years$3,307$2,674$2,146$1,710$1,355$481
21 years$3,116$2,491$1,974$1,552$1,212$404
22 years$2,943$2,325$1,819$1,411$1,087$339
23 years$2,786$2,175$1,680$1,285$975$285
24 years$2,641$2,038$1,553$1,172$877$240
25 years$2,509$1,912$1,439$1,070$789$202
26 years$2,386$1,797$1,334$979$711$170
27 years$2,273$1,691$1,239$896$641$143
28 years$2,169$1,594$1,152$821$578$121
29 years$2,071$1,503$1,072$753$522$102
30 years$1,981$1,420$998$691$472$86
31 years$1,896$1,342$931$634$426$72
32 years$1,817$1,270$868$583$386$61
33 years$1,743$1,203$811$536$349$51
34 years$1,673$1,140$758$493$316$43
35 years$1,607$1,081$708$454$286$37
36 years$1,545$1,026$663$418$259$31
37 years$1,487$975$620$385$235$26
38 years$1,432$926$581$355$213$22
39 years$1,380$881$544$328$193$19
40 years$1,330$838$510$302$175$16
41 years$1,283$798$478$279$159$13
42 years$1,239$760$449$257$144$11
43 years$1,196$724$421$237$131$9
44 years$1,156$690$395$219$119$8
45 years$1,118$658$371$202$108$7
46 years$1,081$628$348$187$98$6
47 years$1,046$599$327$173$89$5
48 years$1,013$572$308$160$81$4
49 years$981$546$289$148$73$3
50 years$950$522$272$136$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $973,000, adding $2,174 every year, while hoping to spend $26,481 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: 33/43/24 Blend
53$973,000$973,000$973,000$973,000
54$1,074,488$1,022,919$1,007,838$1,102,000
55$1,155,911$1,044,867$1,013,425$1,144,805
56$1,244,751$1,067,002$1,018,312$1,188,365
57$1,341,736$1,089,307$1,022,446$1,234,779
58$1,447,671$1,111,760$1,025,775$1,284,316
59$1,563,436$1,134,339$1,028,242$1,337,273
60$1,690,005$1,157,020$1,029,786$1,393,978
61$1,828,447$1,179,776$1,030,346$1,454,792
62$1,979,942$1,202,578$1,029,855$1,520,115
63$2,145,786$1,225,394$1,028,246$1,590,388
64$2,327,408$1,248,191$1,025,444$1,666,096
65$2,526,383$1,270,932$1,021,376$1,747,778
66$2,744,444$1,293,576$1,015,961$1,836,024
67$2,983,497$1,316,082$1,009,117$1,931,491
68$3,245,647$1,338,403$1,000,755$2,034,900
69$3,533,208$1,360,490$990,785$2,147,047
70$3,848,730$1,382,288$979,111$2,268,813
71$4,195,021$1,403,742$965,633$2,401,168
72$4,575,177$1,424,789$950,245$2,545,184
73$4,992,605$1,445,363$932,838$2,702,043
74$5,451,060$1,465,395$913,297$2,873,050
75$5,954,677$1,484,808$891,501$3,059,647
76$6,508,012$1,503,522$867,325$3,263,421
77$7,116,086$1,521,451$840,637$3,486,127
78$7,784,427$1,538,503$811,298$3,729,701
79$8,519,128$1,554,579$779,166$3,996,277
80$9,326,900$1,569,574$744,089$4,288,212
81$10,215,137$1,583,377$705,910$4,608,105
82$11,191,987$1,595,868$664,463$4,958,825
83$12,266,425$1,606,921$619,578$5,343,537
84$13,448,341$1,616,400$571,074$5,765,730
85$14,748,630$1,624,162$518,764$6,229,256
86$16,179,298$1,630,055$462,451$6,738,364
87$17,753,574$1,633,914$401,930$7,297,740
88$19,486,031$1,635,568$336,987$7,912,554
89$21,392,729$1,634,834$267,399$8,588,506
90$23,491,362$1,631,516$192,932$9,331,888
91$25,801,428$1,625,407$113,342$10,149,635
92$28,344,410$1,616,289$28,376$11,049,398
93$31,143,980$1,603,927$0$12,039,614
94$34,226,223$1,588,076$0$13,145,544
95$37,619,879$1,568,473$0$14,370,288
96$41,356,619$1,544,841$0$15,717,962
97$45,471,342$1,516,886$0$17,201,126
98$50,002,501$1,484,295$0$18,833,622
99$54,992,470$1,446,740$0$20,630,710
100$60,487,942$1,403,871$0$22,609,213