Can I retire at age 54 with 996,000?

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 $996,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$82,249$81,516$80,801$80,104$79,422$78,463
2 years$40,717$39,959$39,224$38,511$37,820$36,854
3 years$26,875$26,114$25,380$24,675$23,995$23,053
4 years$19,956$19,196$18,470$17,777$17,113$16,202
5 years$15,805$15,050$14,334$13,654$13,009$12,132
6 years$13,039$12,290$11,584$10,919$10,294$9,451
7 years$11,063$10,321$9,626$8,977$8,372$7,564
8 years$9,583$8,847$8,164$7,531$6,945$6,173
9 years$8,432$7,703$7,032$6,415$5,849$5,111
10 years$7,511$6,790$6,130$5,530$4,983$4,280
11 years$6,759$6,044$5,397$4,812$4,286$3,617
12 years$6,132$5,425$4,790$4,221$3,714$3,078
13 years$5,603$4,903$4,279$3,727$3,239$2,635
14 years$5,149$4,456$3,845$3,308$2,839$2,266
15 years$4,756$4,071$3,471$2,950$2,500$1,957
16 years$4,413$3,735$3,147$2,642$2,209$1,696
17 years$4,110$3,440$2,864$2,373$1,959$1,474
18 years$3,841$3,179$2,614$2,139$1,742$1,284
19 years$3,601$2,946$2,393$1,933$1,552$1,121
20 years$3,385$2,737$2,197$1,750$1,387$981
21 years$3,190$2,550$2,020$1,589$1,241$859
22 years$3,013$2,380$1,862$1,444$1,112$754
23 years$2,851$2,226$1,719$1,315$998$662
24 years$2,704$2,086$1,590$1,200$897$582
25 years$2,568$1,957$1,473$1,096$808$512
26 years$2,443$1,840$1,366$1,002$727$451
27 years$2,327$1,731$1,268$917$656$397
28 years$2,220$1,631$1,179$840$592$350
29 years$2,120$1,539$1,097$770$534$309
30 years$2,027$1,453$1,022$707$483$273
31 years$1,941$1,374$953$649$437$241
32 years$1,860$1,300$889$597$395$213
33 years$1,784$1,231$830$549$357$188
34 years$1,712$1,167$776$505$324$166
35 years$1,645$1,107$725$465$293$147
36 years$1,582$1,050$678$428$266$130
37 years$1,522$998$635$394$241$115
38 years$1,466$948$595$364$218$102
39 years$1,412$902$557$335$198$90
40 years$1,362$858$522$309$179$80
41 years$1,314$817$490$285$163$70
42 years$1,268$778$459$263$148$62
43 years$1,225$741$431$243$134$55
44 years$1,183$706$404$224$122$49
45 years$1,144$674$380$207$110$43
46 years$1,107$643$357$191$100$38
47 years$1,071$613$335$177$91$34
48 years$1,036$585$315$163$83$30
49 years$1,004$559$296$151$75$27
50 years$972$534$278$140$68$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $996,000, adding $4,214 every year, while hoping to spend $57,553 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: 32/40/28 Blend
53$996,000$996,000$996,000$996,000
54$1,101,939$1,049,151$1,033,713$1,127,679
55$1,153,101$1,039,323$1,007,106$1,137,939
56$1,207,552$1,027,085$977,679$1,143,609
57$1,265,568$1,012,258$945,277$1,148,592
58$1,327,449$994,651$909,737$1,152,868
59$1,393,524$974,065$870,889$1,156,420
60$1,464,156$950,287$828,556$1,159,234
61$1,539,740$923,091$782,553$1,161,303
62$1,620,710$892,239$732,685$1,162,623
63$1,707,542$857,478$678,749$1,163,198
64$1,800,759$818,542$620,535$1,163,039
65$1,900,934$775,148$557,821$1,162,165
66$2,008,697$726,998$490,375$1,160,607
67$2,124,738$673,775$417,957$1,158,407
68$2,249,817$615,146$340,314$1,155,617
69$2,384,767$550,756$257,183$1,152,310
70$2,530,504$480,234$168,289$1,148,571
71$2,688,034$403,185$73,347$1,144,508
72$2,858,465$319,192$0$1,140,249
73$3,043,012$227,816$0$1,144,305
74$3,243,011$128,591$0$1,172,430
75$3,459,933$21,027$0$1,203,000
76$3,695,394$0$0$1,236,365
77$3,951,172$0$0$1,314,913
78$4,229,224$0$0$1,410,494
79$4,531,700$0$0$1,514,611
80$4,860,969$0$0$1,628,096
81$5,219,634$0$0$1,751,864
82$5,610,563$0$0$1,886,925
83$6,036,911$0$0$2,034,387
84$6,502,148$0$0$2,195,473
85$7,010,099$0$0$2,371,527
86$7,564,970$0$0$2,564,030
87$8,171,392$0$0$2,774,613
88$8,834,466$0$0$3,005,070
89$9,559,805$0$0$3,257,379
90$10,353,592$0$0$3,533,716
91$11,222,633$0$0$3,836,477
92$12,174,426$0$0$4,168,304
93$13,217,225$0$0$4,532,102
94$14,360,121$0$0$4,931,075
95$15,613,126$0$0$5,368,749
96$16,987,269$0$0$5,849,010
97$18,494,695$0$0$6,376,135
98$20,148,782$0$0$6,954,838
99$21,964,266$0$0$7,590,312
100$23,957,380$0$0$8,288,276