Can I retire at age 54 with 980,000?

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 $980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$80,927$80,207$79,503$78,817$78,147$77,074
2 years$40,063$39,317$38,594$37,893$37,213$36,134
3 years$26,443$25,694$24,973$24,278$23,609$22,558
4 years$19,635$18,888$18,174$17,491$16,838$15,823
5 years$15,551$14,808$14,104$13,435$12,800$11,823
6 years$12,829$12,092$11,398$10,744$10,128$9,191
7 years$10,886$10,155$9,472$8,833$8,237$7,339
8 years$9,429$8,705$8,033$7,410$6,833$5,976
9 years$8,296$7,579$6,919$6,312$5,755$4,936
10 years$7,391$6,680$6,032$5,441$4,903$4,124
11 years$6,650$5,947$5,310$4,735$4,217$3,476
12 years$6,034$5,338$4,713$4,153$3,654$2,950
13 years$5,513$4,824$4,211$3,667$3,187$2,519
14 years$5,066$4,385$3,783$3,255$2,793$2,161
15 years$4,680$4,006$3,416$2,903$2,460$1,861
16 years$4,342$3,675$3,097$2,599$2,174$1,608
17 years$4,044$3,385$2,818$2,335$1,927$1,394
18 years$3,779$3,128$2,572$2,105$1,714$1,211
19 years$3,543$2,899$2,355$1,902$1,528$1,054
20 years$3,331$2,693$2,161$1,722$1,364$919
21 years$3,139$2,509$1,988$1,563$1,221$803
22 years$2,964$2,342$1,832$1,421$1,094$702
23 years$2,806$2,190$1,692$1,294$982$615
24 years$2,660$2,052$1,565$1,181$883$539
25 years$2,527$1,926$1,449$1,078$795$473
26 years$2,403$1,810$1,344$986$716$415
27 years$2,290$1,703$1,248$902$645$365
28 years$2,184$1,605$1,160$827$582$320
29 years$2,086$1,514$1,080$758$526$282
30 years$1,995$1,430$1,006$696$475$248
31 years$1,910$1,352$938$639$430$218
32 years$1,830$1,279$875$587$389$192
33 years$1,755$1,211$817$540$352$169
34 years$1,685$1,148$763$497$318$149
35 years$1,619$1,089$713$457$288$131
36 years$1,556$1,034$667$421$261$116
37 years$1,498$982$625$388$237$102
38 years$1,442$933$585$358$215$90
39 years$1,390$887$548$330$195$79
40 years$1,340$844$514$304$177$70
41 years$1,293$803$482$281$160$62
42 years$1,248$765$452$259$145$54
43 years$1,205$729$424$239$132$48
44 years$1,164$695$398$221$120$42
45 years$1,126$663$374$204$109$37
46 years$1,089$632$351$188$99$33
47 years$1,054$603$330$174$90$29
48 years$1,020$576$310$161$81$26
49 years$988$550$291$149$74$23
50 years$957$525$274$137$67$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $980,000, adding $3,216 every year, while hoping to spend $59,245 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: 34/46/20 Blend
53$980,000$980,000$980,000$980,000
54$1,083,277$1,031,337$1,016,147$1,113,369
55$1,130,735$1,018,837$987,152$1,123,367
56$1,181,049$1,003,738$955,200$1,128,455
57$1,234,445$985,851$920,129$1,132,712
58$1,291,176$964,975$881,770$1,136,101
59$1,351,514$940,897$839,948$1,138,584
60$1,415,759$913,391$794,476$1,140,127
61$1,484,237$882,218$745,162$1,140,698
62$1,557,309$847,126$691,805$1,140,267
63$1,635,367$807,848$634,193$1,138,810
64$1,718,842$764,100$572,106$1,136,306
65$1,808,207$715,584$505,314$1,132,740
66$1,903,979$661,983$433,578$1,128,104
67$2,006,727$602,962$356,645$1,122,398
68$2,117,075$538,168$274,253$1,115,632
69$2,235,706$467,228$186,130$1,107,824
70$2,363,372$389,747$91,990$1,099,007
71$2,500,899$305,307$0$1,089,228
72$2,649,191$213,468$0$1,080,357
73$2,809,246$113,765$0$1,091,735
74$2,982,155$5,706$0$1,103,883
75$3,169,122$0$0$1,116,999
76$3,371,468$0$0$1,187,617
77$3,590,644$0$0$1,267,357
78$3,828,248$0$0$1,353,926
79$4,086,035$0$0$1,447,979
80$4,365,937$0$0$1,550,239
81$4,670,077$0$0$1,661,498
82$5,000,792$0$0$1,782,630
83$5,360,652$0$0$1,914,593
84$5,752,487$0$0$2,058,447
85$6,179,407$0$0$2,215,353
86$6,644,838$0$0$2,386,593
87$7,152,551$0$0$2,573,575
88$7,706,692$0$0$2,777,851
89$8,311,831$0$0$3,001,129
90$8,972,994$0$0$3,245,289
91$9,695,717$0$0$3,512,403
92$10,486,092$0$0$3,804,748
93$11,350,831$0$0$4,124,837
94$12,297,320$0$0$4,475,433
95$13,333,695$0$0$4,859,580
96$14,468,916$0$0$5,280,631
97$15,712,847$0$0$5,742,279
98$17,076,354$0$0$6,248,590
99$18,571,403$0$0$6,804,043
100$20,211,176$0$0$7,413,573