Can I retire at age 54 with 993,000?

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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$82,001$81,271$80,558$79,862$79,183$76,557
2 years$40,595$39,839$39,106$38,395$37,706$35,086
3 years$26,794$26,035$25,304$24,600$23,922$21,390
4 years$19,895$19,138$18,415$17,723$17,062$14,637
5 years$15,757$15,005$14,291$13,613$12,970$10,659
6 years$12,999$12,253$11,549$10,886$10,263$8,067
7 years$11,030$10,290$9,597$8,950$8,346$6,266
8 years$9,554$8,820$8,139$7,508$6,924$4,958
9 years$8,406$7,680$7,010$6,395$5,831$3,977
10 years$7,489$6,769$6,112$5,513$4,968$3,223
11 years$6,739$6,026$5,381$4,798$4,273$2,633
12 years$6,114$5,409$4,775$4,208$3,703$2,164
13 years$5,586$4,888$4,266$3,715$3,229$1,788
14 years$5,133$4,443$3,833$3,298$2,831$1,484
15 years$4,742$4,059$3,461$2,941$2,492$1,235
16 years$4,399$3,724$3,138$2,634$2,203$1,031
17 years$4,098$3,429$2,855$2,366$1,953$862
18 years$3,830$3,169$2,607$2,132$1,737$723
19 years$3,590$2,937$2,386$1,927$1,548$606
20 years$3,375$2,729$2,190$1,745$1,383$510
21 years$3,180$2,542$2,014$1,584$1,237$429
22 years$3,004$2,373$1,857$1,440$1,109$361
23 years$2,843$2,219$1,714$1,312$995$304
24 years$2,695$2,079$1,585$1,196$895$257
25 years$2,560$1,951$1,468$1,092$805$216
26 years$2,435$1,834$1,362$999$725$183
27 years$2,320$1,726$1,265$914$654$154
28 years$2,213$1,626$1,176$838$590$130
29 years$2,114$1,534$1,094$768$533$110
30 years$2,021$1,449$1,019$705$481$93
31 years$1,935$1,370$950$647$435$79
32 years$1,854$1,296$886$595$394$66
33 years$1,778$1,227$828$547$356$56
34 years$1,707$1,163$773$503$323$47
35 years$1,640$1,103$723$463$292$40
36 years$1,577$1,047$676$427$265$34
37 years$1,518$995$633$393$240$29
38 years$1,461$945$593$362$218$24
39 years$1,408$899$555$334$197$21
40 years$1,358$855$521$308$179$17
41 years$1,310$814$488$284$162$15
42 years$1,264$775$458$262$147$12
43 years$1,221$739$430$242$134$11
44 years$1,180$704$403$224$121$9
45 years$1,141$671$379$207$110$8
46 years$1,103$641$356$191$100$6
47 years$1,067$611$334$176$91$5
48 years$1,033$584$314$163$82$5
49 years$1,001$557$295$151$75$4
50 years$970$532$277$139$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $993,000, adding $6,782 every year, while hoping to spend $48,469 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: 63/32/5 Blend
53$993,000$993,000$993,000$993,000
54$1,101,282$1,048,653$1,033,261$1,169,410
55$1,162,042$1,048,466$1,016,305$1,215,435
56$1,227,375$1,046,646$997,156$1,259,325
57$1,297,696$1,043,061$975,690$1,305,970
58$1,373,462$1,037,571$951,776$1,355,634
59$1,455,173$1,030,030$925,279$1,408,608
60$1,543,380$1,020,281$896,054$1,465,213
61$1,638,686$1,008,156$863,954$1,525,807
62$1,741,758$993,481$828,822$1,590,783
63$1,853,324$976,069$790,494$1,660,578
64$1,974,188$955,721$748,801$1,735,674
65$2,105,232$932,229$703,563$1,816,605
66$2,247,428$905,370$654,595$1,903,961
67$2,401,843$874,911$601,701$1,998,393
68$2,569,652$840,602$544,678$2,100,625
69$2,752,146$802,180$483,314$2,211,453
70$2,950,746$759,369$417,387$2,331,760
71$3,167,017$711,872$346,664$2,462,521
72$3,402,679$659,381$270,904$2,604,815
73$3,659,626$601,565$189,853$2,759,832
74$3,939,944$538,077$103,249$2,928,890
75$4,245,925$468,549$10,814$3,113,444
76$4,580,096$392,595$0$3,315,102
77$4,945,236$309,802$0$3,540,329
78$5,344,407$219,739$0$3,787,321
79$5,780,977$121,948$0$4,057,687
80$6,258,659$15,945$0$4,353,842
81$6,781,537$0$0$4,678,450
82$7,354,110$0$0$5,069,237
83$7,981,332$0$0$5,503,545
84$8,668,659$0$0$5,979,545
85$9,422,101$0$0$6,501,409
86$10,248,275$0$0$7,073,729
87$11,154,470$0$0$7,701,565
88$12,148,715$0$0$8,390,489
89$13,239,851$0$0$9,146,640
90$14,437,621$0$0$9,976,778
91$15,752,753$0$0$10,888,351
92$17,197,067$0$0$11,889,563
93$18,783,584$0$0$12,989,454
94$20,526,646$0$0$14,197,978
95$22,442,055$0$0$15,526,105
96$24,547,220$0$0$16,985,920
97$26,861,318$0$0$18,590,734
98$29,405,477$0$0$20,355,215
99$32,202,976$0$0$22,295,522
100$35,279,462$0$0$24,429,459