Can I retire at age 54 with 985,000?

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 $985,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$81,340$80,616$79,909$79,219$78,545$75,698
2 years$40,268$39,518$38,791$38,086$37,403$34,565
3 years$26,578$25,825$25,100$24,402$23,730$20,992
4 years$19,735$18,984$18,267$17,580$16,924$14,306
5 years$15,630$14,884$14,176$13,503$12,866$10,374
6 years$12,895$12,154$11,456$10,799$10,180$7,818
7 years$10,941$10,207$9,520$8,878$8,279$6,045
8 years$9,477$8,749$8,074$7,448$6,868$4,760
9 years$8,339$7,618$6,954$6,344$5,784$3,799
10 years$7,429$6,715$6,063$5,468$4,928$3,064
11 years$6,684$5,978$5,337$4,759$4,239$2,490
12 years$6,065$5,365$4,737$4,174$3,673$2,036
13 years$5,541$4,849$4,232$3,685$3,203$1,673
14 years$5,092$4,407$3,802$3,271$2,808$1,380
15 years$4,704$4,026$3,433$2,918$2,472$1,142
16 years$4,364$3,694$3,113$2,612$2,185$948
17 years$4,065$3,402$2,832$2,347$1,937$788
18 years$3,799$3,143$2,586$2,115$1,723$657
19 years$3,561$2,913$2,367$1,911$1,535$548
20 years$3,348$2,707$2,172$1,731$1,371$458
21 years$3,155$2,522$1,998$1,571$1,227$383
22 years$2,980$2,354$1,842$1,428$1,100$320
23 years$2,820$2,202$1,700$1,301$987$268
24 years$2,674$2,063$1,573$1,187$888$225
25 years$2,539$1,936$1,456$1,084$799$188
26 years$2,416$1,819$1,351$991$719$158
27 years$2,301$1,712$1,254$907$649$132
28 years$2,195$1,613$1,166$831$585$111
29 years$2,097$1,522$1,085$762$528$93
30 years$2,005$1,437$1,011$699$477$78
31 years$1,919$1,359$942$642$432$66
32 years$1,839$1,286$879$590$391$55
33 years$1,764$1,218$821$543$353$46
34 years$1,693$1,154$767$499$320$39
35 years$1,627$1,095$717$460$290$33
36 years$1,564$1,039$671$423$263$27
37 years$1,505$987$628$390$238$23
38 years$1,450$938$588$360$216$19
39 years$1,397$892$551$332$196$16
40 years$1,347$848$516$306$177$14
41 years$1,299$808$484$282$161$12
42 years$1,254$769$454$260$146$10
43 years$1,211$733$426$240$133$8
44 years$1,170$698$400$222$120$7
45 years$1,131$666$376$205$109$6
46 years$1,094$635$353$189$99$5
47 years$1,059$606$331$175$90$4
48 years$1,025$579$311$162$82$3
49 years$993$553$293$149$74$3
50 years$962$528$275$138$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $985,000, adding $4,517 every year, while hoping to spend $46,327 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: 70/19/11 Blend
53$985,000$985,000$985,000$985,000
54$1,090,129$1,037,924$1,022,657$1,163,662
55$1,152,031$1,039,491$1,007,624$1,214,569
56$1,218,694$1,039,582$990,535$1,264,199
57$1,290,555$1,038,075$971,272$1,317,278
58$1,368,093$1,034,843$949,712$1,374,135
59$1,451,837$1,029,749$925,726$1,435,137
60$1,542,365$1,022,647$899,178$1,500,685
61$1,640,313$1,013,383$869,927$1,571,223
62$1,746,382$1,001,796$837,827$1,647,244
63$1,861,340$987,712$802,722$1,729,288
64$1,986,035$970,947$764,451$1,817,953
65$2,121,396$951,309$722,845$1,913,899
66$2,268,446$928,591$677,728$2,017,856
67$2,428,311$902,576$628,916$2,130,626
68$2,602,230$873,034$576,216$2,253,098
69$2,791,565$839,720$519,427$2,386,251
70$2,997,816$802,377$458,338$2,531,167
71$3,222,631$760,731$392,730$2,689,039
72$3,467,827$714,495$322,375$2,861,185
73$3,735,403$663,362$247,032$3,049,058
74$4,027,558$607,011$166,451$3,254,263
75$4,346,713$545,099$80,372$3,478,571
76$4,695,536$477,267$0$3,723,934
77$5,076,960$403,132$0$3,993,859
78$5,494,217$322,293$0$4,299,529
79$5,950,866$234,325$0$4,634,162
80$6,450,825$138,777$0$5,000,691
81$6,998,409$35,176$0$5,402,350
82$7,598,368$0$0$5,842,703
83$8,255,936$0$0$6,341,776
84$8,976,875$0$0$6,897,063
85$9,767,534$0$0$7,506,104
86$10,634,903$0$0$8,174,293
87$11,586,682$0$0$8,907,567
88$12,631,354$0$0$9,712,470
89$13,778,262$0$0$10,596,207
90$15,037,698$0$0$11,566,716
91$16,420,998$0$0$12,632,744
92$17,940,653$0$0$13,803,922
93$19,610,422$0$0$15,090,863
94$21,445,461$0$0$16,505,258
95$23,462,470$0$0$18,059,989
96$25,679,845$0$0$19,769,245
97$28,117,854$0$0$21,648,660
98$30,798,829$0$0$23,715,458
99$33,747,371$0$0$25,988,616
100$36,990,587$0$0$28,489,044