Can I retire at age 54 with 976,000?

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 $976,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$80,597$79,879$79,179$78,495$77,828$77,240
2 years$39,900$39,156$38,436$37,738$37,061$36,468
3 years$26,336$25,589$24,871$24,179$23,513$22,934
4 years$19,555$18,811$18,100$17,420$16,770$16,209
5 years$15,487$14,748$14,046$13,380$12,748$12,207
6 years$12,777$12,043$11,351$10,700$10,087$9,566
7 years$10,841$10,113$9,433$8,797$8,203$7,703
8 years$9,390$8,669$8,000$7,380$6,806$6,326
9 years$8,262$7,548$6,890$6,286$5,731$5,272
10 years$7,361$6,653$6,007$5,418$4,883$4,444
11 years$6,623$5,923$5,289$4,716$4,200$3,781
12 years$6,009$5,316$4,693$4,136$3,639$3,240
13 years$5,490$4,804$4,193$3,652$3,174$2,793
14 years$5,046$4,367$3,768$3,242$2,782$2,420
15 years$4,661$3,989$3,402$2,891$2,450$2,106
16 years$4,324$3,660$3,084$2,589$2,165$1,838
17 years$4,027$3,371$2,806$2,326$1,920$1,610
18 years$3,764$3,115$2,562$2,096$1,707$1,414
19 years$3,529$2,887$2,345$1,894$1,521$1,244
20 years$3,317$2,682$2,152$1,715$1,359$1,097
21 years$3,126$2,499$1,980$1,557$1,216$969
22 years$2,952$2,332$1,825$1,415$1,090$857
23 years$2,794$2,181$1,685$1,289$978$759
24 years$2,649$2,044$1,558$1,176$879$673
25 years$2,516$1,918$1,443$1,074$791$597
26 years$2,394$1,803$1,338$982$713$531
27 years$2,280$1,697$1,243$899$643$472
28 years$2,175$1,599$1,155$823$580$420
29 years$2,078$1,508$1,075$755$524$374
30 years$1,987$1,424$1,002$693$473$333
31 years$1,902$1,346$934$636$428$296
32 years$1,822$1,274$871$585$387$264
33 years$1,748$1,206$813$538$350$236
34 years$1,678$1,143$760$495$317$210
35 years$1,612$1,085$711$456$287$188
36 years$1,550$1,029$665$420$260$167
37 years$1,492$978$622$387$236$149
38 years$1,436$929$583$356$214$133
39 years$1,384$884$546$329$194$119
40 years$1,334$841$512$303$176$106
41 years$1,287$800$480$280$160$95
42 years$1,243$762$450$258$145$85
43 years$1,200$726$422$238$131$76
44 years$1,160$692$396$220$119$68
45 years$1,121$660$372$203$108$61
46 years$1,084$630$350$188$98$54
47 years$1,049$601$328$173$89$48
48 years$1,016$574$309$160$81$43
49 years$984$548$290$148$74$39
50 years$953$523$273$137$67$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $976,000, adding $5,785 every year, while hoping to spend $47,610 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: 44/42/14 Blend
53$976,000$976,000$976,000$976,000
54$1,081,519$1,029,791$1,014,663$1,124,505
55$1,141,178$1,029,594$997,998$1,154,907
56$1,205,325$1,027,792$979,178$1,182,606
57$1,274,370$1,024,256$958,083$1,211,589
58$1,348,760$1,018,848$934,582$1,241,995
59$1,428,986$1,011,424$908,543$1,273,980
60$1,515,589$1,001,830$879,826$1,307,717
61$1,609,162$989,903$848,283$1,343,400
62$1,710,357$975,469$813,761$1,381,248
63$1,819,891$958,345$776,100$1,421,505
64$1,938,553$938,337$735,133$1,464,442
65$2,067,210$915,239$690,683$1,510,365
66$2,206,813$888,834$642,569$1,559,613
67$2,358,411$858,890$590,598$1,612,566
68$2,523,157$825,164$534,572$1,669,645
69$2,702,320$787,397$474,280$1,731,321
70$2,897,293$745,316$409,505$1,798,121
71$3,109,613$698,633$340,020$1,870,627
72$3,340,968$647,041$265,585$1,949,490
73$3,593,219$590,217$185,954$2,035,434
74$3,868,410$527,821$100,866$2,129,262
75$4,168,794$459,490$10,052$2,231,869
76$4,496,850$384,845$0$2,344,249
77$4,855,308$303,481$0$2,480,479
78$5,247,171$214,973$0$2,631,256
79$5,675,748$118,872$0$2,796,481
80$6,144,681$14,704$0$2,977,712
81$6,657,980$0$0$3,176,672
82$7,220,061$0$0$3,440,578
83$7,835,789$0$0$3,737,233
84$8,510,518$0$0$4,062,436
85$9,250,146$0$0$4,419,047
86$10,061,171$0$0$4,810,213
87$10,950,748$0$0$5,239,400
88$11,926,756$0$0$5,710,430
89$12,997,876$0$0$6,227,507
90$14,173,670$0$0$6,795,267
91$15,464,671$0$0$7,418,813
92$16,882,480$0$0$8,103,770
93$18,439,879$0$0$8,856,332
94$20,150,947$0$0$9,683,324
95$22,031,195$0$0$10,592,263
96$24,097,711$0$0$11,591,434
97$26,369,321$0$0$12,689,961
98$28,866,765$0$0$13,897,897
99$31,612,894$0$0$15,226,321
100$34,632,881$0$0$16,687,435