Can I retire at age 54 with 991,000?

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 $991,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$81,836$81,107$80,396$79,702$79,024$76,525
2 years$40,513$39,758$39,027$38,318$37,630$35,135
3 years$26,740$25,982$25,253$24,551$23,874$21,461
4 years$19,855$19,100$18,378$17,687$17,027$14,715
5 years$15,725$14,975$14,262$13,586$12,944$10,739
6 years$12,973$12,228$11,526$10,865$10,242$8,146
7 years$11,008$10,269$9,578$8,932$8,330$6,342
8 years$9,535$8,802$8,123$7,493$6,910$5,030
9 years$8,389$7,664$6,996$6,382$5,819$4,044
10 years$7,474$6,755$6,099$5,502$4,958$3,286
11 years$6,725$6,014$5,370$4,788$4,264$2,691
12 years$6,102$5,398$4,766$4,200$3,695$2,218
13 years$5,575$4,878$4,258$3,708$3,222$1,838
14 years$5,123$4,434$3,826$3,291$2,825$1,529
15 years$4,732$4,051$3,454$2,935$2,487$1,276
16 years$4,391$3,716$3,132$2,628$2,198$1,068
17 years$4,089$3,423$2,850$2,362$1,949$896
18 years$3,822$3,163$2,601$2,128$1,733$753
19 years$3,583$2,931$2,381$1,923$1,545$634
20 years$3,368$2,724$2,186$1,742$1,380$535
21 years$3,174$2,537$2,010$1,581$1,235$451
22 years$2,998$2,368$1,853$1,437$1,107$381
23 years$2,837$2,215$1,711$1,309$993$322
24 years$2,690$2,075$1,582$1,194$893$272
25 years$2,555$1,948$1,465$1,090$804$231
26 years$2,430$1,830$1,359$997$724$195
27 years$2,315$1,723$1,262$912$653$165
28 years$2,209$1,623$1,173$836$589$140
29 years$2,110$1,531$1,092$767$532$119
30 years$2,017$1,446$1,017$704$480$101
31 years$1,931$1,367$948$646$434$85
32 years$1,850$1,294$885$594$393$72
33 years$1,775$1,225$826$546$356$61
34 years$1,704$1,161$772$502$322$52
35 years$1,637$1,101$721$463$292$44
36 years$1,574$1,045$675$426$264$38
37 years$1,515$993$632$392$239$32
38 years$1,458$943$592$362$217$27
39 years$1,405$897$554$334$197$23
40 years$1,355$854$519$308$179$19
41 years$1,307$812$487$284$162$17
42 years$1,262$774$457$262$147$14
43 years$1,219$737$429$242$133$12
44 years$1,177$703$402$223$121$10
45 years$1,138$670$378$206$110$9
46 years$1,101$639$355$190$100$7
47 years$1,065$610$333$176$91$6
48 years$1,031$582$313$163$82$5
49 years$999$556$295$150$75$4
50 years$968$531$277$139$68$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $991,000, adding $4,653 every year, while hoping to spend $47,333 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: 80/13/7 Blend
53$991,000$991,000$991,000$991,000
54$1,096,882$1,044,359$1,028,998$1,183,439
55$1,158,402$1,045,170$1,013,108$1,241,618
56$1,224,610$1,044,435$995,098$1,298,728
57$1,295,936$1,042,028$974,849$1,359,963
58$1,372,848$1,037,815$952,234$1,425,711
59$1,455,865$1,031,654$927,120$1,496,399
60$1,545,554$1,023,395$899,369$1,572,497
61$1,642,538$1,012,879$868,836$1,654,523
62$1,747,504$999,937$835,369$1,743,047
63$1,861,205$984,390$798,810$1,838,699
64$1,984,471$966,048$758,993$1,942,172
65$2,118,213$944,710$715,744$2,054,229
66$2,263,433$920,163$668,884$2,175,713
67$2,421,234$892,182$618,223$2,307,551
68$2,592,829$860,528$563,563$2,450,767
69$2,779,553$824,949$504,697$2,606,486
70$2,982,874$785,178$441,411$2,775,953
71$3,204,407$740,932$373,478$2,960,536
72$3,445,931$691,912$300,664$3,161,746
73$3,709,402$637,802$222,723$3,381,248
74$3,996,975$578,269$139,398$3,620,876
75$4,311,021$512,958$50,422$3,882,654
76$4,654,150$441,498$0$4,168,812
77$5,029,235$363,493$0$4,485,134
78$5,439,440$278,528$0$4,835,240
79$5,888,249$186,161$0$5,218,372
80$6,379,497$85,930$0$5,637,848
81$6,917,407$0$0$6,097,323
82$7,506,631$0$0$6,604,070
83$8,152,291$0$0$7,172,850
84$8,860,028$0$0$7,796,343
85$9,636,054$0$0$8,480,026
86$10,487,213$0$0$9,229,931
87$11,421,040$0$0$10,052,702
88$12,445,838$0$0$10,955,657
89$13,570,751$0$0$11,946,858
90$14,805,851$0$0$13,035,183
91$16,162,234$0$0$14,230,414
92$17,652,123$0$0$15,543,327
93$19,288,983$0$0$16,985,791
94$21,087,648$0$0$18,570,883
95$23,064,459$0$0$20,313,010
96$25,237,419$0$0$22,228,043
97$27,626,364$0$0$24,333,466
98$30,253,145$0$0$26,648,545
99$33,141,837$0$0$29,194,504
100$36,318,967$0$0$31,994,726