Can I retire at age 54 with 975,000?

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 $975,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$80,515$79,797$79,098$78,415$77,748$74,693
2 years$39,859$39,116$38,397$37,699$37,023$33,982
3 years$26,309$25,563$24,845$24,154$23,489$20,558
4 years$19,535$18,791$18,081$17,402$16,752$13,955
5 years$15,472$14,733$14,032$13,366$12,735$10,077
6 years$12,764$12,030$11,340$10,689$10,077$7,560
7 years$10,830$10,103$9,423$8,788$8,195$5,819
8 years$9,381$8,660$7,992$7,372$6,799$4,561
9 years$8,254$7,540$6,883$6,279$5,725$3,622
10 years$7,353$6,646$6,001$5,413$4,878$2,906
11 years$6,617$5,917$5,283$4,711$4,196$2,349
12 years$6,003$5,311$4,689$4,132$3,636$1,911
13 years$5,485$4,799$4,189$3,648$3,170$1,562
14 years$5,040$4,362$3,764$3,238$2,779$1,281
15 years$4,656$3,985$3,398$2,888$2,447$1,054
16 years$4,320$3,656$3,081$2,586$2,163$870
17 years$4,023$3,367$2,804$2,323$1,918$719
18 years$3,760$3,112$2,559$2,094$1,705$595
19 years$3,525$2,884$2,343$1,892$1,520$494
20 years$3,314$2,680$2,150$1,714$1,357$410
21 years$3,123$2,496$1,978$1,555$1,215$341
22 years$2,949$2,330$1,823$1,414$1,089$283
23 years$2,791$2,179$1,683$1,288$977$236
24 years$2,647$2,042$1,557$1,174$879$196
25 years$2,514$1,916$1,442$1,073$791$163
26 years$2,391$1,801$1,337$981$712$136
27 years$2,278$1,695$1,242$898$642$113
28 years$2,173$1,597$1,154$822$579$95
29 years$2,076$1,507$1,074$754$523$79
30 years$1,985$1,423$1,000$692$473$66
31 years$1,900$1,345$933$636$427$55
32 years$1,820$1,273$870$584$387$46
33 years$1,746$1,205$813$537$350$38
34 years$1,676$1,142$759$494$317$32
35 years$1,610$1,083$710$455$287$27
36 years$1,549$1,028$664$419$260$22
37 years$1,490$977$622$386$236$19
38 years$1,435$928$582$356$214$15
39 years$1,383$883$545$328$194$13
40 years$1,333$840$511$303$176$11
41 years$1,286$799$479$279$159$9
42 years$1,241$761$450$258$145$7
43 years$1,199$725$422$238$131$6
44 years$1,158$691$396$220$119$5
45 years$1,120$659$372$203$108$4
46 years$1,083$629$349$187$98$4
47 years$1,048$600$328$173$89$3
48 years$1,015$573$308$160$81$3
49 years$983$547$290$148$74$2
50 years$952$523$272$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $975,000, adding $3,037 every year, while hoping to spend $28,179 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: 69/5/26 Blend
53$975,000$975,000$975,000$975,000
54$1,077,583$1,025,908$1,010,795$1,144,536
55$1,157,514$1,046,195$1,014,675$1,210,121
56$1,244,654$1,066,532$1,017,739$1,278,348
57$1,339,707$1,086,891$1,019,933$1,352,362
58$1,443,452$1,107,243$1,021,195$1,432,735
59$1,556,742$1,127,555$1,021,463$1,520,100
60$1,680,518$1,147,794$1,020,670$1,615,153
61$1,815,816$1,167,922$1,018,748$1,718,661
62$1,963,778$1,187,898$1,015,624$1,831,468
63$2,125,658$1,207,680$1,011,223$1,954,509
64$2,302,839$1,227,220$1,005,463$2,088,810
65$2,496,844$1,246,470$998,261$2,235,504
66$2,709,350$1,265,375$989,531$2,395,840
67$2,942,203$1,283,878$979,180$2,571,194
68$3,197,437$1,301,917$967,112$2,763,084
69$3,477,292$1,319,426$953,225$2,973,182
70$3,784,233$1,336,336$937,416$3,203,332
71$4,120,979$1,352,570$919,574$3,455,566
72$4,490,521$1,368,049$899,582$3,732,125
73$4,896,157$1,382,686$877,321$4,035,479
74$5,341,517$1,396,390$852,663$4,368,349
75$5,830,601$1,409,062$825,477$4,733,738
76$6,367,816$1,420,600$795,623$5,134,951
77$6,958,015$1,430,891$762,959$5,575,637
78$7,606,546$1,439,818$727,331$6,059,814
79$8,319,300$1,447,255$688,583$6,591,913
80$9,102,766$1,453,068$646,548$7,176,817
81$9,964,096$1,457,116$601,055$7,819,910
82$10,911,165$1,459,247$551,922$8,527,124
83$11,952,654$1,459,300$498,961$9,305,001
84$13,098,124$1,457,105$441,976$10,160,750
85$14,358,111$1,452,480$380,760$11,102,315
86$15,744,221$1,445,235$315,098$12,138,457
87$17,269,244$1,435,164$244,767$13,278,829
88$18,947,272$1,422,052$169,531$14,534,071
89$20,793,830$1,405,670$89,148$15,915,913
90$22,826,027$1,385,773$3,360$17,437,280
91$25,062,711$1,362,105$0$19,112,420
92$27,524,652$1,334,393$0$20,981,505
93$30,234,736$1,302,348$0$23,039,961
94$33,218,180$1,265,664$0$25,306,013
95$36,502,769$1,224,016$0$27,800,772
96$40,119,121$1,177,062$0$30,547,500
97$44,100,972$1,124,439$0$33,571,829
98$48,485,498$1,065,763$0$36,902,007
99$53,313,661$1,000,628$0$40,569,159
100$58,630,600$928,605$0$44,607,583