Can I retire at age 54 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$81,506$80,780$80,071$79,380$78,705$77,369
2 years$40,349$39,598$38,870$38,163$37,478$36,137
3 years$26,632$25,878$25,151$24,452$23,778$22,472
4 years$19,775$19,023$18,304$17,616$16,959$15,699
5 years$15,662$14,914$14,204$13,531$12,892$11,681
6 years$12,921$12,178$11,479$10,821$10,201$9,042
7 years$10,963$10,227$9,539$8,896$8,296$7,188
8 years$9,496$8,767$8,090$7,463$6,882$5,825
9 years$8,356$7,633$6,968$6,357$5,796$4,789
10 years$7,444$6,728$6,075$5,480$4,938$3,982
11 years$6,698$5,990$5,348$4,769$4,247$3,339
12 years$6,077$5,376$4,746$4,183$3,680$2,820
13 years$5,552$4,858$4,241$3,693$3,209$2,395
14 years$5,102$4,416$3,810$3,278$2,813$2,043
15 years$4,713$4,034$3,440$2,924$2,477$1,750
16 years$4,373$3,701$3,119$2,618$2,189$1,504
17 years$4,073$3,409$2,838$2,352$1,941$1,296
18 years$3,806$3,150$2,591$2,120$1,726$1,120
19 years$3,568$2,919$2,372$1,915$1,538$969
20 years$3,355$2,713$2,177$1,735$1,374$840
21 years$3,161$2,527$2,002$1,574$1,230$729
22 years$2,986$2,359$1,845$1,431$1,102$634
23 years$2,826$2,206$1,704$1,304$989$552
24 years$2,679$2,067$1,576$1,189$889$480
25 years$2,545$1,940$1,459$1,086$800$419
26 years$2,421$1,823$1,354$993$721$365
27 years$2,306$1,716$1,257$909$650$319
28 years$2,200$1,617$1,168$833$586$278
29 years$2,101$1,525$1,087$764$530$243
30 years$2,009$1,440$1,013$701$478$213
31 years$1,923$1,362$944$644$433$186
32 years$1,843$1,288$881$591$391$163
33 years$1,768$1,220$823$544$354$142
34 years$1,697$1,156$769$500$321$124
35 years$1,630$1,097$719$461$290$109
36 years$1,568$1,041$672$424$263$95
37 years$1,508$989$629$391$238$83
38 years$1,452$940$589$360$216$73
39 years$1,400$893$552$332$196$64
40 years$1,349$850$517$306$178$56
41 years$1,302$809$485$283$161$49
42 years$1,257$771$455$261$146$43
43 years$1,214$734$427$241$133$38
44 years$1,173$700$401$222$121$33
45 years$1,134$667$376$205$109$29
46 years$1,097$637$354$190$99$25
47 years$1,061$608$332$175$90$22
48 years$1,027$580$312$162$82$19
49 years$995$554$293$150$74$17
50 years$964$529$276$138$68$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $987,000, adding $3,143 every year, while hoping to spend $34,433 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: 44/45/11 Blend
53$987,000$987,000$987,000$987,000
54$1,090,916$1,038,605$1,023,307$1,135,343
55$1,165,553$1,052,860$1,020,951$1,180,810
56$1,246,649$1,066,660$1,017,362$1,226,319
57$1,334,826$1,079,945$1,012,463$1,274,873
58$1,430,770$1,092,654$1,006,172$1,326,765
59$1,535,233$1,104,718$998,403$1,382,318
60$1,649,045$1,116,068$989,068$1,441,892
61$1,773,118$1,126,626$978,072$1,505,881
62$1,908,456$1,136,311$965,318$1,574,724
63$2,056,165$1,145,037$950,703$1,648,904
64$2,217,462$1,152,711$934,119$1,728,955
65$2,393,685$1,159,236$915,454$1,815,468
66$2,586,309$1,164,507$894,590$1,909,095
67$2,796,957$1,168,412$871,403$2,010,557
68$3,027,418$1,170,835$845,766$2,120,650
69$3,279,658$1,171,650$817,543$2,240,254
70$3,555,845$1,170,722$786,592$2,370,341
71$3,858,365$1,167,912$752,767$2,511,985
72$4,189,847$1,163,069$715,914$2,666,372
73$4,553,185$1,156,033$675,870$2,834,811
74$4,951,567$1,146,635$632,469$3,018,751
75$5,388,503$1,134,696$585,533$3,219,788
76$5,867,861$1,120,027$534,879$3,439,687
77$6,393,900$1,102,425$480,314$3,680,397
78$6,971,311$1,081,678$421,638$3,944,069
79$7,605,264$1,057,558$358,642$4,233,079
80$8,301,450$1,029,828$291,106$4,550,049
81$9,066,141$998,233$218,801$4,897,875
82$9,906,246$962,505$141,490$5,279,753
83$10,829,376$922,360$58,922$5,699,212
84$11,843,914$877,498$0$6,160,144
85$12,959,099$827,601$0$6,670,276
86$14,185,107$772,333$0$7,238,527
87$15,533,148$711,338$0$7,863,243
88$17,015,577$644,241$0$8,550,236
89$18,646,002$570,645$0$9,305,917
90$20,439,417$490,130$0$10,137,358
91$22,412,344$402,252$0$11,052,361
92$24,582,985$306,544$0$12,059,531
93$26,971,395$202,511$0$13,168,358
94$29,599,673$89,630$0$14,389,310
95$32,492,167$0$0$15,733,933
96$35,675,706$0$0$17,231,129
97$39,179,849$0$0$18,928,098
98$43,037,169$0$0$20,796,249
99$47,283,557$0$0$22,852,981
100$51,958,559$0$0$25,117,469