Can I retire at age 54 with 977,000?

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 $977,000?

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$80,680$79,961$79,260$78,576$77,907$75,233
2 years$39,940$39,197$38,476$37,777$37,099$34,432
3 years$26,362$25,615$24,896$24,204$23,537$20,961
4 years$19,575$18,830$18,118$17,438$16,787$14,321
5 years$15,503$14,763$14,060$13,394$12,761$10,413
6 years$12,790$12,055$11,363$10,711$10,097$7,868
7 years$10,852$10,124$9,443$8,806$8,212$6,101
8 years$9,400$8,678$8,008$7,387$6,813$4,819
9 years$8,271$7,556$6,897$6,292$5,737$3,858
10 years$7,368$6,660$6,013$5,424$4,888$3,121
11 years$6,630$5,929$5,294$4,721$4,204$2,544
12 years$6,015$5,322$4,698$4,141$3,643$2,088
13 years$5,496$4,809$4,198$3,655$3,177$1,721
14 years$5,051$4,371$3,772$3,245$2,785$1,425
15 years$4,665$3,993$3,405$2,894$2,452$1,184
16 years$4,328$3,664$3,087$2,591$2,167$986
17 years$4,032$3,374$2,809$2,328$1,922$823
18 years$3,768$3,118$2,565$2,098$1,709$688
19 years$3,532$2,890$2,348$1,896$1,523$576
20 years$3,321$2,685$2,155$1,717$1,360$483
21 years$3,129$2,501$1,982$1,558$1,217$405
22 years$2,955$2,335$1,827$1,417$1,091$341
23 years$2,797$2,184$1,687$1,290$979$286
24 years$2,652$2,046$1,560$1,177$880$241
25 years$2,519$1,920$1,445$1,075$792$203
26 years$2,396$1,805$1,340$983$714$171
27 years$2,283$1,698$1,244$900$643$144
28 years$2,178$1,600$1,157$824$580$121
29 years$2,080$1,510$1,076$756$524$102
30 years$1,989$1,426$1,003$694$474$86
31 years$1,904$1,348$935$637$428$73
32 years$1,824$1,275$872$585$387$61
33 years$1,750$1,208$814$538$351$52
34 years$1,680$1,145$761$495$317$44
35 years$1,614$1,086$711$456$287$37
36 years$1,552$1,030$665$420$260$31
37 years$1,493$979$623$387$236$26
38 years$1,438$930$583$357$214$22
39 years$1,385$884$546$329$194$19
40 years$1,336$841$512$303$176$16
41 years$1,289$801$480$280$160$13
42 years$1,244$763$450$258$145$11
43 years$1,201$727$423$238$132$9
44 years$1,161$693$397$220$119$8
45 years$1,122$661$373$203$108$7
46 years$1,085$630$350$188$98$6
47 years$1,050$601$329$173$89$5
48 years$1,017$574$309$160$81$4
49 years$985$548$290$148$74$3
50 years$954$524$273$137$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $977,000, adding $5,798 every year, while hoping to spend $43,988 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: 31/41/28 Blend
53$977,000$977,000$977,000$977,000
54$1,082,635$1,030,854$1,015,710$1,106,770
55$1,146,260$1,034,563$1,002,934$1,129,629
56$1,214,902$1,036,979$988,255$1,149,959
57$1,289,024$1,037,993$971,563$1,170,980
58$1,369,138$1,037,488$952,744$1,192,781
59$1,455,805$1,035,340$931,676$1,215,467
60$1,549,644$1,031,419$908,234$1,239,156
61$1,651,332$1,025,583$882,285$1,263,981
62$1,761,617$1,017,685$853,690$1,290,093
63$1,881,319$1,007,569$822,306$1,317,665
64$2,011,342$995,068$787,981$1,346,889
65$2,152,677$980,005$750,557$1,377,983
66$2,306,419$962,194$709,869$1,411,192
67$2,473,768$941,436$665,745$1,446,792
68$2,656,048$917,522$618,003$1,485,093
69$2,854,715$890,230$566,455$1,526,441
70$3,071,369$859,325$510,905$1,571,226
71$3,307,774$824,557$451,146$1,619,885
72$3,565,872$785,665$386,964$1,672,903
73$3,847,797$742,369$318,133$1,730,828
74$4,155,902$694,375$244,421$1,794,268
75$4,492,777$641,372$165,581$1,863,902
76$4,861,271$583,030$81,359$1,940,490
77$5,264,524$519,002$0$2,024,878
78$5,705,992$448,919$0$2,120,552
79$6,189,481$372,394$0$2,252,122
80$6,719,182$289,016$0$2,396,510
81$7,299,712$198,350$0$2,555,105
82$7,936,154$99,941$0$2,729,447
83$8,634,106$0$0$2,921,241
84$9,399,737$0$0$3,135,392
85$10,239,837$0$0$3,420,002
86$11,161,890$0$0$3,732,532
87$12,174,137$0$0$4,075,797
88$13,285,655$0$0$4,452,895
89$14,506,445$0$0$4,867,241
90$15,847,524$0$0$5,322,594
91$17,321,027$0$0$5,823,098
92$18,940,326$0$0$6,373,318
93$20,720,148$0$0$6,978,283
94$22,676,721$0$0$7,643,534
95$24,827,923$0$0$8,375,174
96$27,193,450$0$0$9,179,929
97$29,795,003$0$0$10,065,210
98$32,656,491$0$0$11,039,180
99$35,804,255$0$0$12,110,836
100$39,267,322$0$0$13,290,090