Can I retire at age 54 with 998,000?

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 $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$82,414$81,680$80,964$80,265$79,582$79,114
2 years$40,799$40,039$39,303$38,589$37,896$37,424
3 years$26,929$26,166$25,431$24,724$24,043$23,581
4 years$19,996$19,235$18,508$17,812$17,148$16,700
5 years$15,837$15,080$14,363$13,682$13,035$12,603
6 years$13,065$12,314$11,607$10,941$10,314$9,898
7 years$11,086$10,341$9,646$8,995$8,388$7,988
8 years$9,602$8,865$8,180$7,546$6,959$6,574
9 years$8,449$7,718$7,046$6,428$5,860$5,492
10 years$7,527$6,803$6,143$5,541$4,993$4,641
11 years$6,773$6,056$5,408$4,822$4,294$3,957
12 years$6,145$5,436$4,799$4,230$3,722$3,400
13 years$5,614$4,913$4,288$3,734$3,245$2,939
14 years$5,159$4,465$3,853$3,315$2,845$2,553
15 years$4,766$4,079$3,478$2,956$2,505$2,227
16 years$4,422$3,743$3,154$2,647$2,214$1,950
17 years$4,118$3,447$2,870$2,378$1,963$1,712
18 years$3,849$3,185$2,620$2,143$1,745$1,508
19 years$3,608$2,952$2,398$1,937$1,556$1,331
20 years$3,392$2,743$2,201$1,754$1,389$1,177
21 years$3,196$2,555$2,024$1,592$1,243$1,042
22 years$3,019$2,385$1,866$1,447$1,115$925
23 years$2,857$2,231$1,723$1,318$1,000$822
24 years$2,709$2,090$1,593$1,202$899$731
25 years$2,573$1,961$1,476$1,098$809$651
26 years$2,448$1,843$1,369$1,004$729$580
27 years$2,332$1,735$1,271$919$657$517
28 years$2,224$1,635$1,181$842$593$461
29 years$2,124$1,542$1,099$772$535$412
30 years$2,031$1,456$1,024$709$484$368
31 years$1,945$1,377$955$651$437$329
32 years$1,863$1,303$891$598$396$294
33 years$1,787$1,234$832$550$358$263
34 years$1,716$1,169$777$506$324$236
35 years$1,648$1,109$727$466$294$211
36 years$1,585$1,053$680$429$266$189
37 years$1,525$1,000$636$395$241$169
38 years$1,469$950$596$364$219$152
39 years$1,415$903$558$336$198$136
40 years$1,364$860$523$310$180$122
41 years$1,316$818$491$286$163$109
42 years$1,271$779$460$264$148$98
43 years$1,227$742$432$244$134$88
44 years$1,186$708$405$225$122$79
45 years$1,146$675$381$208$111$71
46 years$1,109$644$357$192$101$63
47 years$1,073$614$336$177$91$57
48 years$1,039$587$316$164$83$51
49 years$1,006$560$297$151$75$46
50 years$974$535$279$140$68$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $998,000, adding $6,371 every year, while hoping to spend $24,812 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: 62/27/11 Blend
53$998,000$998,000$998,000$998,000
54$1,106,368$1,053,474$1,038,005$1,171,769
55$1,192,817$1,078,694$1,046,378$1,241,573
56$1,287,253$1,104,319$1,054,200$1,314,309
57$1,390,464$1,130,341$1,061,427$1,393,087
58$1,503,317$1,156,754$1,068,011$1,478,493
59$1,626,769$1,183,548$1,073,902$1,571,172
60$1,761,872$1,210,714$1,079,050$1,671,835
61$1,909,783$1,238,240$1,083,399$1,781,262
62$2,071,780$1,266,113$1,086,892$1,900,317
63$2,249,268$1,294,318$1,089,469$2,029,948
64$2,443,793$1,322,840$1,091,066$2,171,201
65$2,657,061$1,351,660$1,091,618$2,325,227
66$2,890,948$1,380,758$1,091,054$2,493,297
67$3,147,522$1,410,113$1,089,301$2,676,807
68$3,429,060$1,439,699$1,086,284$2,877,298
69$3,738,070$1,469,490$1,081,920$3,096,468
70$4,077,316$1,499,457$1,076,127$3,336,186
71$4,449,840$1,529,569$1,068,815$3,598,513
72$4,858,996$1,559,790$1,059,893$3,885,719
73$5,308,477$1,590,083$1,049,263$4,200,307
74$5,802,352$1,620,407$1,036,823$4,545,032
75$6,345,102$1,650,718$1,022,467$4,922,935
76$6,941,667$1,680,968$1,006,085$5,337,361
77$7,597,487$1,711,105$987,558$5,792,000
78$8,318,555$1,741,073$966,766$6,290,919
79$9,111,475$1,770,813$943,580$6,838,597
80$9,983,522$1,800,260$917,866$7,439,972
81$10,942,713$1,829,343$889,486$8,100,485
82$11,997,878$1,857,990$858,292$8,826,132
83$13,158,749$1,886,118$824,132$9,623,523
84$14,436,046$1,913,644$786,846$10,499,940
85$15,841,584$1,940,474$746,266$11,463,409
86$17,388,379$1,966,510$702,219$12,522,777
87$19,090,771$1,991,646$654,521$13,687,790
88$20,964,564$2,015,771$602,982$14,969,194
89$23,027,170$2,038,764$547,402$16,378,828
90$25,297,774$2,060,496$487,573$17,929,741
91$27,797,518$2,080,832$423,277$19,636,313
92$30,549,695$2,099,623$354,288$21,514,394
93$33,579,975$2,116,716$280,368$23,581,450
94$36,916,642$2,131,944$201,269$25,856,731
95$40,590,860$2,145,130$116,733$28,361,452
96$44,636,974$2,156,088$26,489$31,118,993
97$49,092,826$2,164,616$0$34,155,122
98$54,000,115$2,170,503$0$37,506,431
99$59,404,792$2,173,523$0$41,199,872
100$65,357,491$2,173,436$0$45,266,860