Can I retire at age 54 with 995,000?

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 $995,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$82,166$81,434$80,720$80,023$79,343$77,836
2 years$40,676$39,919$39,185$38,473$37,782$36,270
3 years$26,848$26,087$25,355$24,650$23,971$22,500
4 years$19,935$19,177$18,452$17,759$17,096$15,679
5 years$15,789$15,035$14,319$13,640$12,996$11,636
6 years$13,025$12,277$11,572$10,908$10,283$8,982
7 years$11,052$10,310$9,617$8,968$8,363$7,121
8 years$9,573$8,838$8,156$7,523$6,938$5,754
9 years$8,423$7,695$7,024$6,408$5,843$4,717
10 years$7,504$6,783$6,124$5,524$4,978$3,909
11 years$6,752$6,038$5,392$4,808$4,282$3,268
12 years$6,126$5,420$4,785$4,217$3,710$2,751
13 years$5,597$4,898$4,275$3,723$3,235$2,329
14 years$5,144$4,452$3,841$3,305$2,836$1,980
15 years$4,751$4,067$3,468$2,947$2,497$1,690
16 years$4,408$3,731$3,144$2,639$2,207$1,448
17 years$4,106$3,436$2,861$2,371$1,957$1,243
18 years$3,837$3,175$2,612$2,137$1,740$1,070
19 years$3,597$2,943$2,391$1,931$1,551$922
20 years$3,382$2,735$2,194$1,749$1,385$797
21 years$3,187$2,547$2,018$1,587$1,240$689
22 years$3,010$2,378$1,860$1,443$1,111$597
23 years$2,849$2,224$1,718$1,314$997$517
24 years$2,701$2,084$1,588$1,199$897$449
25 years$2,565$1,955$1,471$1,095$807$390
26 years$2,440$1,838$1,365$1,001$727$338
27 years$2,325$1,730$1,267$916$655$294
28 years$2,218$1,630$1,178$839$591$256
29 years$2,118$1,537$1,096$770$534$223
30 years$2,025$1,452$1,021$706$482$194
31 years$1,939$1,373$952$649$436$169
32 years$1,858$1,299$888$596$394$147
33 years$1,782$1,230$829$548$357$128
34 years$1,711$1,166$775$504$323$112
35 years$1,644$1,106$724$464$293$97
36 years$1,580$1,049$678$428$265$85
37 years$1,521$997$634$394$240$74
38 years$1,464$947$594$363$218$64
39 years$1,411$901$556$335$198$56
40 years$1,360$857$522$309$179$49
41 years$1,312$816$489$285$163$43
42 years$1,267$777$459$263$148$37
43 years$1,223$740$430$243$134$32
44 years$1,182$706$404$224$122$28
45 years$1,143$673$379$207$110$25
46 years$1,105$642$356$191$100$22
47 years$1,070$613$335$177$91$19
48 years$1,035$585$315$163$83$16
49 years$1,003$558$296$151$75$14
50 years$971$533$278$139$68$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $995,000, adding $6,740 every year, while hoping to spend $29,088 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: 67/19/14 Blend
53$995,000$995,000$995,000$995,000
54$1,103,442$1,050,707$1,035,285$1,173,355
55$1,185,044$1,071,243$1,039,017$1,241,359
56$1,273,994$1,091,809$1,041,900$1,311,631
57$1,371,012$1,112,378$1,043,874$1,387,730
58$1,476,888$1,132,917$1,044,877$1,470,227
59$1,592,493$1,153,393$1,044,843$1,559,747
60$1,718,786$1,173,768$1,043,704$1,656,982
61$1,856,823$1,194,004$1,041,389$1,762,692
62$2,007,766$1,214,056$1,037,822$1,877,716
63$2,172,893$1,233,880$1,032,924$2,002,978
64$2,353,614$1,253,426$1,026,613$2,139,497
65$2,551,479$1,272,641$1,018,801$2,288,394
66$2,768,198$1,291,467$1,009,398$2,450,908
67$3,005,650$1,309,846$998,309$2,628,400
68$3,265,908$1,327,710$985,434$2,822,373
69$3,551,253$1,344,990$970,669$3,034,482
70$3,864,199$1,361,612$953,904$3,266,554
71$4,207,512$1,377,497$935,025$3,520,598
72$4,584,243$1,392,558$913,913$3,798,832
73$4,997,748$1,406,706$890,441$4,103,699
74$5,451,726$1,419,843$864,479$4,437,892
75$5,950,254$1,431,866$835,891$4,804,379
76$6,497,818$1,442,666$804,531$5,206,432
77$7,099,364$1,452,125$770,251$5,647,657
78$7,760,338$1,460,119$732,895$6,132,028
79$8,486,743$1,466,515$692,297$6,663,926
80$9,285,189$1,471,172$648,286$7,248,179
81$10,162,959$1,473,940$600,685$7,890,111
82$11,128,078$1,474,661$549,305$8,595,586
83$12,189,387$1,473,164$493,952$9,371,071
84$13,356,627$1,469,271$434,421$10,223,693
85$14,640,528$1,462,791$370,500$11,161,305
86$16,052,915$1,453,521$301,965$12,192,567
87$17,606,816$1,441,247$228,584$13,327,020
88$19,316,585$1,425,742$150,116$14,575,184
89$21,198,037$1,406,764$66,305$15,948,649
90$23,268,599$1,384,057$0$17,460,195
91$25,547,471$1,357,351$0$19,127,360
92$28,055,811$1,326,359$0$20,973,005
93$30,816,930$1,290,778$0$23,004,366
94$33,856,516$1,250,284$0$25,240,346
95$37,202,871$1,204,539$0$27,701,772
96$40,887,184$1,153,181$0$30,411,602
97$44,943,819$1,095,830$0$33,395,131
98$49,410,645$1,032,082$0$36,680,238
99$54,329,388$961,511$0$40,297,646
100$59,746,027$883,666$0$44,281,214