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

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 $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%14%
1 years$82,579$81,843$81,126$80,425$79,741$78,420
2 years$40,881$40,119$39,381$38,666$37,972$36,645
3 years$26,983$26,218$25,482$24,774$24,091$22,799
4 years$20,036$19,273$18,545$17,848$17,182$15,935
5 years$15,868$15,111$14,391$13,709$13,061$11,864
6 years$13,091$12,339$11,630$10,963$10,335$9,188
7 years$11,108$10,362$9,665$9,013$8,405$7,308
8 years$9,621$8,882$8,197$7,561$6,973$5,926
9 years$8,466$7,734$7,060$6,440$5,872$4,875
10 years$7,542$6,817$6,155$5,552$5,003$4,055
11 years$6,786$6,069$5,419$4,832$4,303$3,403
12 years$6,157$5,447$4,809$4,238$3,729$2,876
13 years$5,625$4,922$4,296$3,742$3,252$2,444
14 years$5,170$4,474$3,860$3,321$2,850$2,087
15 years$4,775$4,087$3,485$2,962$2,510$1,789
16 years$4,430$3,750$3,160$2,652$2,218$1,538
17 years$4,126$3,454$2,875$2,383$1,967$1,327
18 years$3,857$3,191$2,625$2,148$1,749$1,147
19 years$3,615$2,958$2,403$1,940$1,559$993
20 years$3,399$2,748$2,205$1,757$1,392$862
21 years$3,203$2,560$2,029$1,595$1,246$749
22 years$3,025$2,390$1,870$1,450$1,117$651
23 years$2,863$2,235$1,726$1,321$1,002$567
24 years$2,714$2,094$1,596$1,205$901$494
25 years$2,578$1,965$1,479$1,100$811$431
26 years$2,453$1,847$1,371$1,006$730$376
27 years$2,336$1,738$1,273$921$658$329
28 years$2,229$1,638$1,184$844$594$287
29 years$2,129$1,545$1,102$774$537$251
30 years$2,036$1,459$1,026$710$485$220
31 years$1,949$1,380$957$652$438$192
32 years$1,867$1,305$893$599$396$168
33 years$1,791$1,236$833$551$359$147
34 years$1,719$1,172$779$507$325$129
35 years$1,652$1,111$728$467$294$113
36 years$1,588$1,055$681$430$267$99
37 years$1,528$1,002$637$396$242$87
38 years$1,472$952$597$365$219$76
39 years$1,418$905$559$337$199$67
40 years$1,367$861$524$310$180$58
41 years$1,319$820$492$286$163$51
42 years$1,273$781$461$264$148$45
43 years$1,230$744$433$244$135$39
44 years$1,188$709$406$225$122$35
45 years$1,149$676$381$208$111$30
46 years$1,111$645$358$192$101$27
47 years$1,075$616$336$178$91$23
48 years$1,041$588$316$164$83$20
49 years$1,008$561$297$152$75$18
50 years$976$536$279$140$69$16

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 $2,221 every year, while hoping to spend $34,493 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: 64/7/29 Blend
53$1,000,000$1,000,000$1,000,000$1,000,000
54$1,104,291$1,051,291$1,035,791$1,166,293
55$1,180,228$1,066,104$1,033,790$1,223,396
56$1,262,755$1,080,487$1,030,565$1,281,781
57$1,352,508$1,094,382$1,026,040$1,344,839
58$1,450,184$1,107,728$1,020,134$1,413,035
59$1,556,556$1,120,459$1,012,761$1,486,881
60$1,672,468$1,132,505$1,003,832$1,566,942
61$1,798,853$1,143,791$993,254$1,653,844
62$1,936,737$1,154,238$980,929$1,748,273
63$2,087,249$1,163,760$966,755$1,850,990
64$2,251,632$1,172,268$950,624$1,962,832
65$2,431,253$1,179,664$932,425$2,084,724
66$2,627,620$1,185,846$912,040$2,217,685
67$2,842,389$1,190,705$889,346$2,362,840
68$3,077,388$1,194,124$864,214$2,521,430
69$3,334,627$1,195,981$836,510$2,694,824
70$3,616,319$1,196,145$806,093$2,884,531
71$3,924,903$1,194,475$772,817$3,092,218
72$4,263,063$1,190,825$736,527$3,319,720
73$4,633,758$1,185,037$697,062$3,569,064
74$5,040,243$1,176,946$654,256$3,842,484
75$5,486,105$1,166,374$607,931$4,142,445
76$5,975,296$1,153,134$557,904$4,471,664
77$6,512,167$1,137,028$503,985$4,833,139
78$7,101,511$1,117,846$445,972$5,230,175
79$7,748,609$1,095,365$383,656$5,666,418
80$8,459,278$1,069,348$316,819$6,145,887
81$9,239,925$1,039,547$245,233$6,673,015
82$10,097,609$1,005,696$168,660$7,252,689
83$11,040,105$967,515$86,850$7,890,299
84$12,075,981$924,709$0$8,591,788
85$13,214,675$876,963$0$9,363,849
86$14,466,584$823,947$0$10,242,254
87$15,843,164$765,309$0$11,208,153
88$17,357,037$700,679$0$12,270,421
89$19,022,107$629,665$0$13,438,836
90$20,853,696$551,852$0$14,724,171
91$22,868,685$466,805$0$16,138,299
92$25,085,671$374,059$0$17,694,304
93$27,525,148$273,126$0$19,406,601
94$30,209,695$163,491$0$21,291,076
95$33,164,190$44,609$0$23,365,236
96$36,416,047$0$0$25,648,370
97$39,995,471$0$0$28,168,214
98$43,935,742$0$0$30,945,956
99$48,273,535$0$0$34,004,021
100$53,049,257$0$0$37,370,909