Can I retire at age 54 with 990,000?

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 $990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$81,753$81,025$80,315$79,621$78,944$78,087
2 years$40,472$39,718$38,988$38,279$37,592$36,730
3 years$26,713$25,956$25,228$24,526$23,850$23,008
4 years$19,835$19,081$18,359$17,670$17,010$16,196
5 years$15,710$14,959$14,248$13,572$12,931$12,146
6 years$12,960$12,215$11,514$10,854$10,232$9,478
7 years$10,997$10,259$9,568$8,923$8,321$7,598
8 years$9,525$8,793$8,115$7,486$6,903$6,211
9 years$8,381$7,656$6,989$6,376$5,813$5,152
10 years$7,466$6,749$6,093$5,496$4,953$4,322
11 years$6,718$6,008$5,364$4,783$4,260$3,659
12 years$6,095$5,392$4,761$4,196$3,692$3,120
13 years$5,569$4,873$4,253$3,704$3,219$2,676
14 years$5,118$4,430$3,822$3,288$2,822$2,306
15 years$4,727$4,046$3,451$2,932$2,485$1,996
16 years$4,386$3,713$3,128$2,626$2,196$1,733
17 years$4,085$3,419$2,847$2,359$1,947$1,509
18 years$3,818$3,159$2,599$2,126$1,731$1,318
19 years$3,579$2,928$2,379$1,921$1,543$1,153
20 years$3,365$2,721$2,183$1,740$1,378$1,011
21 years$3,171$2,534$2,008$1,579$1,233$887
22 years$2,995$2,366$1,851$1,436$1,106$780
23 years$2,834$2,213$1,709$1,308$992$687
24 years$2,687$2,073$1,581$1,193$892$605
25 years$2,552$1,946$1,464$1,089$803$534
26 years$2,428$1,829$1,358$996$723$471
27 years$2,313$1,721$1,261$912$652$416
28 years$2,206$1,622$1,172$835$588$368
29 years$2,107$1,530$1,091$766$531$325
30 years$2,015$1,445$1,016$703$480$288
31 years$1,929$1,366$947$646$434$255
32 years$1,848$1,292$884$593$392$226
33 years$1,773$1,224$825$546$355$200
34 years$1,702$1,160$771$502$322$177
35 years$1,635$1,100$721$462$291$157
36 years$1,572$1,044$674$426$264$139
37 years$1,513$992$631$392$239$123
38 years$1,457$942$591$361$217$109
39 years$1,404$896$554$333$197$97
40 years$1,353$853$519$307$178$86
41 years$1,306$812$487$284$162$76
42 years$1,260$773$456$262$147$68
43 years$1,217$737$428$242$133$60
44 years$1,176$702$402$223$121$53
45 years$1,137$669$378$206$110$47
46 years$1,100$639$355$190$100$42
47 years$1,064$609$333$176$91$37
48 years$1,030$582$313$162$82$33
49 years$998$556$294$150$75$29
50 years$967$531$277$139$68$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $990,000, adding $5,912 every year, while hoping to spend $29,821 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: 23/50/27 Blend
53$990,000$990,000$990,000$990,000
54$1,097,078$1,044,608$1,029,263$1,112,826
55$1,177,251$1,064,065$1,032,014$1,146,275
56$1,264,602$1,083,475$1,033,858$1,179,167
57$1,359,831$1,102,806$1,034,732$1,213,746
58$1,463,711$1,122,020$1,034,573$1,250,169
59$1,577,089$1,141,079$1,033,311$1,288,613
60$1,700,901$1,159,940$1,030,875$1,329,272
61$1,836,174$1,178,558$1,027,191$1,372,362
62$1,984,041$1,196,885$1,022,179$1,418,123
63$2,145,749$1,214,868$1,015,758$1,466,820
64$2,322,670$1,232,451$1,007,840$1,518,749
65$2,516,316$1,249,575$998,336$1,574,235
66$2,728,350$1,266,174$987,151$1,633,640
67$2,960,607$1,282,182$974,185$1,697,365
68$3,215,103$1,297,523$959,335$1,765,855
69$3,494,063$1,312,121$942,491$1,839,602
70$3,799,933$1,325,890$923,541$1,919,150
71$4,135,410$1,338,743$902,364$2,005,103
72$4,503,465$1,350,584$878,835$2,098,129
73$4,907,368$1,361,312$852,826$2,198,967
74$5,350,722$1,370,819$824,198$2,308,437
75$5,837,496$1,378,990$792,810$2,427,445
76$6,372,063$1,385,703$758,511$2,556,992
77$6,959,239$1,390,828$721,147$2,698,189
78$7,604,330$1,394,227$680,553$2,852,261
79$8,313,179$1,395,752$636,560$3,020,567
80$9,092,228$1,395,248$588,989$3,204,606
81$9,948,570$1,392,550$537,655$3,406,038
82$10,890,019$1,387,480$482,362$3,626,697
83$11,925,188$1,379,853$422,907$3,868,612
84$13,063,562$1,369,471$359,079$4,134,023
85$14,315,593$1,356,123$290,656$4,425,409
86$15,692,797$1,339,586$217,407$4,745,506
87$17,207,862$1,319,626$139,090$5,097,340
88$18,874,767$1,295,990$55,452$5,484,252
89$20,708,915$1,268,416$0$5,909,935
90$22,727,277$1,236,621$0$6,388,203
91$24,948,553$1,200,309$0$6,931,505
92$27,393,346$1,159,165$0$7,528,905
93$30,084,359$1,112,856$0$8,185,981
94$33,046,608$1,061,030$0$8,908,889
95$36,307,657$1,003,315$0$9,704,418
96$39,897,876$939,316$0$10,580,060
97$43,850,733$868,616$0$11,544,078
98$48,203,105$790,775$0$12,605,586
99$52,995,626$705,327$0$13,774,639
100$58,273,071$611,781$0$15,062,326