Can I retire at age 54 with 1,000,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$82,579$81,843$81,126$80,425$79,741$77,593
2 years$40,881$40,119$39,381$38,666$37,972$35,823
3 years$26,983$26,218$25,482$24,774$24,091$22,009
4 years$20,036$19,273$18,545$17,848$17,182$15,182
5 years$15,868$15,111$14,391$13,709$13,061$11,150
6 years$13,091$12,339$11,630$10,963$10,335$8,513
7 years$11,108$10,362$9,665$9,013$8,405$6,673
8 years$9,621$8,882$8,197$7,561$6,973$5,330
9 years$8,466$7,734$7,060$6,440$5,872$4,317
10 years$7,542$6,817$6,155$5,552$5,003$3,534
11 years$6,786$6,069$5,419$4,832$4,303$2,917
12 years$6,157$5,447$4,809$4,238$3,729$2,423
13 years$5,625$4,922$4,296$3,742$3,252$2,024
14 years$5,170$4,474$3,860$3,321$2,850$1,698
15 years$4,775$4,087$3,485$2,962$2,510$1,429
16 years$4,430$3,750$3,160$2,652$2,218$1,207
17 years$4,126$3,454$2,875$2,383$1,967$1,021
18 years$3,857$3,191$2,625$2,148$1,749$866
19 years$3,615$2,958$2,403$1,940$1,559$736
20 years$3,399$2,748$2,205$1,757$1,392$626
21 years$3,203$2,560$2,029$1,595$1,246$533
22 years$3,025$2,390$1,870$1,450$1,117$455
23 years$2,863$2,235$1,726$1,321$1,002$388
24 years$2,714$2,094$1,596$1,205$901$331
25 years$2,578$1,965$1,479$1,100$811$283
26 years$2,453$1,847$1,371$1,006$730$242
27 years$2,336$1,738$1,273$921$658$207
28 years$2,229$1,638$1,184$844$594$177
29 years$2,129$1,545$1,102$774$537$152
30 years$2,036$1,459$1,026$710$485$130
31 years$1,949$1,380$957$652$438$111
32 years$1,867$1,305$893$599$396$95
33 years$1,791$1,236$833$551$359$82
34 years$1,719$1,172$779$507$325$70
35 years$1,652$1,111$728$467$294$60
36 years$1,588$1,055$681$430$267$51
37 years$1,528$1,002$637$396$242$44
38 years$1,472$952$597$365$219$38
39 years$1,418$905$559$337$199$32
40 years$1,367$861$524$310$180$28
41 years$1,319$820$492$286$163$24
42 years$1,273$781$461$264$148$20
43 years$1,230$744$433$244$135$17
44 years$1,188$709$406$225$122$15
45 years$1,149$676$381$208$111$13
46 years$1,111$645$358$192$101$11
47 years$1,075$616$336$178$91$9
48 years$1,041$588$316$164$83$8
49 years$1,008$561$297$152$75$7
50 years$976$536$279$140$69$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,000,000, adding $3,400 every year, while hoping to spend $32,206 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: 79/10/11 Blend
53$1,000,000$1,000,000$1,000,000$1,000,000
54$1,105,507$1,052,507$1,037,007$1,190,420
55$1,184,002$1,069,813$1,037,480$1,263,993
56$1,269,424$1,086,888$1,036,889$1,340,180
57$1,362,445$1,103,685$1,035,165$1,422,828
58$1,463,806$1,120,158$1,032,235$1,512,568
59$1,574,322$1,136,252$1,028,022$1,610,096
60$1,694,888$1,151,914$1,022,446$1,716,176
61$1,826,491$1,167,082$1,015,422$1,831,652
62$1,970,217$1,181,694$1,006,864$1,957,453
63$2,127,263$1,195,680$996,677$2,094,603
64$2,298,944$1,208,969$984,765$2,244,228
65$2,486,709$1,221,481$971,028$2,407,570
66$2,692,155$1,233,135$955,359$2,585,999
67$2,917,037$1,243,841$937,646$2,781,023
68$3,163,292$1,253,506$917,774$2,994,301
69$3,433,049$1,262,029$895,621$3,227,666
70$3,728,655$1,269,304$871,059$3,483,134
71$4,052,694$1,275,216$843,956$3,762,928
72$4,408,012$1,279,645$814,172$4,069,498
73$4,797,744$1,282,462$781,561$4,405,542
74$5,225,342$1,283,531$745,972$4,774,034
75$5,694,609$1,282,706$707,244$5,178,253
76$6,209,734$1,279,834$665,212$5,621,810
77$6,775,332$1,274,751$619,701$6,108,686
78$7,396,486$1,267,283$570,531$6,643,266
79$8,078,794$1,257,246$517,510$7,230,386
80$8,828,425$1,244,446$460,441$7,875,372
81$9,652,175$1,228,674$399,116$8,584,095
82$10,557,529$1,209,712$333,319$9,363,025
83$11,552,737$1,187,327$262,825$10,219,293
84$12,646,883$1,161,273$187,396$11,160,755
85$13,849,978$1,131,289$106,788$12,196,074
86$15,173,053$1,097,099$20,742$13,334,791
87$16,628,257$1,058,410$0$14,587,426
88$18,228,981$1,014,913$0$15,973,913
89$19,989,975$966,282$0$17,501,823
90$21,927,491$912,169$0$19,182,834
91$24,059,439$852,208$0$21,032,496
92$26,405,548$786,013$0$23,067,947
93$28,987,560$713,173$0$25,308,071
94$31,829,429$633,257$0$27,773,676
95$34,957,551$545,807$0$30,487,695
96$38,401,009$450,339$0$33,475,394
97$42,191,850$346,344$0$36,764,621
98$46,365,386$233,283$0$40,386,061
99$50,960,527$110,585$0$44,373,527
100$56,020,147$0$0$48,764,283