Can I retire at age 54 with 982,000?

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 $982,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$81,093$80,370$79,666$78,978$78,306$75,891
2 years$40,145$39,397$38,673$37,970$37,289$34,876
3 years$26,497$25,747$25,024$24,328$23,657$21,324
4 years$19,675$18,926$18,211$17,527$16,873$14,636
5 years$15,583$14,839$14,132$13,462$12,826$10,692
6 years$12,855$12,117$11,421$10,766$10,149$8,119
7 years$10,908$10,176$9,491$8,851$8,254$6,328
8 years$9,448$8,722$8,049$7,425$6,847$5,025
9 years$8,313$7,594$6,933$6,325$5,767$4,045
10 years$7,406$6,694$6,044$5,452$4,913$3,291
11 years$6,664$5,959$5,321$4,745$4,226$2,699
12 years$6,046$5,349$4,722$4,162$3,662$2,227
13 years$5,524$4,834$4,219$3,674$3,193$1,848
14 years$5,077$4,394$3,791$3,262$2,799$1,539
15 years$4,689$4,014$3,423$2,909$2,465$1,287
16 years$4,351$3,683$3,103$2,604$2,178$1,079
17 years$4,052$3,392$2,824$2,340$1,931$906
18 years$3,787$3,134$2,578$2,109$1,717$763
19 years$3,550$2,904$2,360$1,906$1,531$643
20 years$3,338$2,699$2,166$1,726$1,367$543
21 years$3,145$2,514$1,992$1,566$1,223$459
22 years$2,971$2,347$1,836$1,424$1,097$388
23 years$2,811$2,195$1,695$1,297$984$329
24 years$2,666$2,056$1,568$1,183$885$279
25 years$2,532$1,930$1,452$1,080$796$236
26 years$2,408$1,814$1,347$988$717$200
27 years$2,294$1,707$1,251$904$647$170
28 years$2,189$1,608$1,163$828$583$144
29 years$2,090$1,517$1,082$760$527$122
30 years$1,999$1,433$1,008$697$476$104
31 years$1,913$1,355$939$640$430$88
32 years$1,834$1,282$877$588$389$75
33 years$1,759$1,214$818$541$352$64
34 years$1,688$1,150$765$498$319$54
35 years$1,622$1,091$715$458$289$46
36 years$1,560$1,036$669$422$262$39
37 years$1,501$984$626$389$237$33
38 years$1,445$935$586$358$215$28
39 years$1,392$889$549$331$195$24
40 years$1,343$846$515$305$177$20
41 years$1,295$805$483$281$161$17
42 years$1,250$767$453$260$146$15
43 years$1,207$731$425$240$132$13
44 years$1,167$696$399$221$120$11
45 years$1,128$664$374$204$109$9
46 years$1,091$633$352$189$99$8
47 years$1,056$605$330$174$90$7
48 years$1,022$577$311$161$82$6
49 years$990$551$292$149$74$5
50 years$959$526$274$138$67$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $982,000, adding $6,827 every year, while hoping to spend $52,209 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: 34/37/29 Blend
53$982,000$982,000$982,000$982,000
54$1,089,206$1,037,160$1,021,939$1,116,507
55$1,144,755$1,032,431$1,000,624$1,133,010
56$1,204,220$1,025,720$976,845$1,145,668
57$1,267,946$1,016,876$950,465$1,158,318
58$1,336,310$1,005,736$921,339$1,170,996
59$1,409,727$992,130$889,317$1,183,745
60$1,488,651$975,877$854,241$1,196,619
61$1,573,582$956,783$815,947$1,209,681
62$1,665,068$934,647$774,262$1,223,006
63$1,763,712$909,251$729,007$1,236,681
64$1,870,175$880,369$679,993$1,250,810
65$1,985,184$847,758$627,024$1,265,514
66$2,109,538$811,164$569,894$1,280,930
67$2,244,115$770,314$508,389$1,297,218
68$2,389,880$724,925$442,285$1,314,563
69$2,547,893$674,692$371,348$1,333,173
70$2,719,324$619,297$295,333$1,353,290
71$2,905,453$558,402$213,985$1,375,187
72$3,107,694$491,648$127,039$1,399,174
73$3,327,599$418,658$34,214$1,425,603
74$3,566,876$339,035$0$1,454,873
75$3,827,405$252,355$0$1,507,499
76$4,111,254$158,174$0$1,576,525
77$4,420,699$56,022$0$1,652,024
78$4,758,247$0$0$1,734,740
79$5,126,652$0$0$1,847,732
80$5,528,952$0$0$1,996,163
81$5,968,487$0$0$2,158,472
82$6,448,936$0$0$2,336,035
83$6,974,347$0$0$2,530,369
84$7,549,180$0$0$2,743,140
85$8,178,346$0$0$2,976,185
86$8,867,249$0$0$3,231,529
87$9,621,843$0$0$3,511,399
88$10,448,686$0$0$3,818,248
89$11,354,997$0$0$4,154,780
90$12,348,729$0$0$4,523,971
91$13,438,641$0$0$4,929,099
92$14,634,379$0$0$5,373,776
93$15,946,570$0$0$5,861,981
94$17,386,919$0$0$6,398,095
95$18,968,317$0$0$6,986,946
96$20,704,968$0$0$7,633,851
97$22,612,517$0$0$8,344,669
98$24,708,199$0$0$9,125,853
99$27,011,000$0$0$9,984,515
100$29,541,837$0$0$10,928,486