Can I retire at age 54 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$80,845$80,125$79,422$78,736$78,067$76,025
2 years$40,022$39,277$38,554$37,854$37,175$35,132
3 years$26,416$25,668$24,947$24,253$23,585$21,605
4 years$19,615$18,869$18,155$17,473$16,821$14,919
5 years$15,535$14,793$14,089$13,421$12,787$10,968
6 years$12,816$12,080$11,386$10,733$10,118$8,383
7 years$10,875$10,145$9,462$8,824$8,229$6,579
8 years$9,419$8,696$8,024$7,402$6,826$5,261
9 years$8,288$7,571$6,911$6,305$5,749$4,266
10 years$7,383$6,674$6,026$5,435$4,898$3,496
11 years$6,644$5,941$5,305$4,730$4,213$2,890
12 years$6,028$5,332$4,708$4,149$3,651$2,404
13 years$5,507$4,819$4,206$3,663$3,183$2,011
14 years$5,061$4,380$3,779$3,252$2,791$1,689
15 years$4,675$4,002$3,412$2,900$2,457$1,424
16 years$4,337$3,671$3,094$2,596$2,172$1,204
17 years$4,040$3,381$2,815$2,333$1,925$1,020
18 years$3,776$3,124$2,570$2,102$1,712$867
19 years$3,540$2,896$2,353$1,900$1,526$737
20 years$3,327$2,691$2,159$1,721$1,363$628
21 years$3,136$2,506$1,986$1,562$1,220$536
22 years$2,961$2,340$1,830$1,420$1,093$458
23 years$2,803$2,188$1,690$1,293$981$391
24 years$2,657$2,050$1,563$1,179$882$335
25 years$2,524$1,924$1,448$1,077$794$286
26 years$2,401$1,808$1,343$985$715$245
27 years$2,287$1,702$1,247$901$645$210
28 years$2,182$1,604$1,159$826$582$180
29 years$2,084$1,513$1,079$757$525$154
30 years$1,993$1,429$1,005$695$475$132
31 years$1,908$1,351$937$638$429$114
32 years$1,828$1,278$874$587$388$97
33 years$1,753$1,210$816$539$351$84
34 years$1,683$1,147$762$496$318$72
35 years$1,617$1,088$713$457$288$62
36 years$1,555$1,033$667$421$261$53
37 years$1,496$981$624$388$237$45
38 years$1,441$932$584$357$214$39
39 years$1,388$886$548$330$194$33
40 years$1,338$843$513$304$176$29
41 years$1,291$803$481$280$160$25
42 years$1,246$764$451$259$145$21
43 years$1,204$728$424$239$132$18
44 years$1,163$694$398$221$120$16
45 years$1,125$662$373$204$109$13
46 years$1,088$632$351$188$99$12
47 years$1,052$603$329$174$90$10
48 years$1,019$575$310$161$81$9
49 years$987$549$291$148$74$7
50 years$956$525$274$137$67$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $979,000, adding $2,591 every year, while hoping to spend $32,204 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: 65/12/23 Blend
53$979,000$979,000$979,000$979,000
54$1,081,531$1,029,644$1,014,469$1,145,243
55$1,157,582$1,045,831$1,014,189$1,204,640
56$1,240,311$1,061,733$1,012,820$1,265,662
57$1,330,365$1,077,300$1,010,292$1,331,615
58$1,428,457$1,092,482$1,006,531$1,402,987
59$1,535,369$1,107,223$1,001,459$1,480,313
60$1,651,964$1,121,465$994,996$1,564,184
61$1,779,192$1,135,144$987,055$1,655,252
62$1,918,096$1,148,193$977,549$1,754,236
63$2,069,828$1,160,541$966,383$1,861,929
64$2,235,654$1,172,110$953,460$1,979,205
65$2,416,966$1,182,819$938,676$2,107,027
66$2,615,301$1,192,581$921,926$2,246,459
67$2,832,347$1,201,304$903,097$2,398,673
68$3,069,967$1,208,888$882,070$2,564,961
69$3,330,208$1,215,228$858,724$2,746,750
70$3,615,328$1,220,213$832,930$2,945,610
71$3,927,811$1,223,723$804,553$3,163,275
72$4,270,395$1,225,632$773,452$3,401,657
73$4,646,093$1,225,806$739,481$3,662,863
74$5,058,227$1,224,103$702,486$3,949,217
75$5,510,452$1,220,370$662,306$4,263,280
76$6,006,797$1,214,448$618,772$4,607,879
77$6,551,700$1,206,165$571,710$4,986,128
78$7,150,047$1,195,340$520,936$5,401,463
79$7,807,223$1,181,783$466,258$5,857,670
80$8,529,158$1,165,289$407,477$6,358,926
81$9,322,388$1,145,644$344,383$6,909,832
82$10,194,109$1,122,618$276,757$7,515,466
83$11,152,253$1,095,971$204,373$8,181,423
84$12,205,555$1,065,445$126,992$8,913,872
85$13,363,640$1,030,771$44,365$9,719,615
86$14,637,113$991,661$0$10,606,150
87$16,037,658$947,812$0$11,592,496
88$17,578,147$898,902$0$12,689,332
89$19,272,761$844,592$0$13,895,874
90$21,137,128$784,522$0$15,223,269
91$23,188,465$718,313$0$16,683,803
92$25,445,742$645,564$0$18,291,012
93$27,929,860$565,849$0$20,059,815
94$30,663,852$478,721$0$22,006,652
95$33,673,092$383,706$0$24,149,639
96$36,985,543$280,303$0$26,508,743
97$40,632,014$167,984$0$29,105,964
98$44,646,455$46,191$0$31,965,550
99$49,066,274$0$0$35,114,221
100$53,932,688$0$0$38,592,736