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%19.8%
1 years$82,579$81,843$81,126$80,425$79,741$76,608
2 years$40,881$40,119$39,381$38,666$37,972$34,853
3 years$26,983$26,218$25,482$24,774$24,091$21,085
4 years$20,036$19,273$18,545$17,848$17,182$14,312
5 years$15,868$15,111$14,391$13,709$13,061$10,335
6 years$13,091$12,339$11,630$10,963$10,335$7,754
7 years$11,108$10,362$9,665$9,013$8,405$5,968
8 years$9,621$8,882$8,197$7,561$6,973$4,678
9 years$8,466$7,734$7,060$6,440$5,872$3,715
10 years$7,542$6,817$6,155$5,552$5,003$2,980
11 years$6,786$6,069$5,419$4,832$4,303$2,410
12 years$6,157$5,447$4,809$4,238$3,729$1,960
13 years$5,625$4,922$4,296$3,742$3,252$1,602
14 years$5,170$4,474$3,860$3,321$2,850$1,314
15 years$4,775$4,087$3,485$2,962$2,510$1,081
16 years$4,430$3,750$3,160$2,652$2,218$892
17 years$4,126$3,454$2,875$2,383$1,967$738
18 years$3,857$3,191$2,625$2,148$1,749$611
19 years$3,615$2,958$2,403$1,940$1,559$506
20 years$3,399$2,748$2,205$1,757$1,392$420
21 years$3,203$2,560$2,029$1,595$1,246$349
22 years$3,025$2,390$1,870$1,450$1,117$290
23 years$2,863$2,235$1,726$1,321$1,002$242
24 years$2,714$2,094$1,596$1,205$901$201
25 years$2,578$1,965$1,479$1,100$811$168
26 years$2,453$1,847$1,371$1,006$730$140
27 years$2,336$1,738$1,273$921$658$116
28 years$2,229$1,638$1,184$844$594$97
29 years$2,129$1,545$1,102$774$537$81
30 years$2,036$1,459$1,026$710$485$67
31 years$1,949$1,380$957$652$438$56
32 years$1,867$1,305$893$599$396$47
33 years$1,791$1,236$833$551$359$39
34 years$1,719$1,172$779$507$325$33
35 years$1,652$1,111$728$467$294$27
36 years$1,588$1,055$681$430$267$23
37 years$1,528$1,002$637$396$242$19
38 years$1,472$952$597$365$219$16
39 years$1,418$905$559$337$199$13
40 years$1,367$861$524$310$180$11
41 years$1,319$820$492$286$163$9
42 years$1,273$781$461$264$148$8
43 years$1,230$744$433$244$135$6
44 years$1,188$709$406$225$122$5
45 years$1,149$676$381$208$111$4
46 years$1,111$645$358$192$101$4
47 years$1,075$616$336$178$91$3
48 years$1,041$588$316$164$83$3
49 years$1,008$561$297$152$75$2
50 years$976$536$279$140$69$2

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 $5,706 every year, while hoping to spend $31,974 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: 37/50/13 Blend
53$1,000,000$1,000,000$1,000,000$1,000,000
54$1,107,886$1,054,886$1,039,386$1,144,272
55$1,186,870$1,072,555$1,040,185$1,188,509
56$1,272,839$1,090,019$1,039,940$1,232,760
57$1,366,471$1,107,232$1,038,580$1,279,857
58$1,468,514$1,124,149$1,036,036$1,330,071
59$1,579,789$1,140,719$1,032,229$1,383,700
60$1,701,201$1,156,888$1,027,082$1,441,075
61$1,833,746$1,172,597$1,020,512$1,502,559
62$1,978,519$1,187,786$1,012,430$1,568,555
63$2,136,728$1,202,387$1,002,746$1,639,509
64$2,309,700$1,216,330$991,364$1,715,912
65$2,498,899$1,229,540$978,185$1,798,308
66$2,705,935$1,241,936$963,102$1,887,298
67$2,932,582$1,253,432$946,007$1,983,544
68$3,180,791$1,263,936$926,785$2,087,779
69$3,452,714$1,273,352$905,314$2,200,813
70$3,750,719$1,281,574$881,470$2,323,541
71$4,077,414$1,288,493$855,121$2,456,950
72$4,435,672$1,293,990$826,130$2,602,132
73$4,828,657$1,297,942$794,351$2,760,291
74$5,259,853$1,300,214$759,635$2,932,759
75$5,733,099$1,300,666$721,824$3,121,006
76$6,252,624$1,299,147$680,754$3,326,656
77$6,823,085$1,295,499$636,252$3,551,499
78$7,449,612$1,289,551$588,140$3,797,518
79$8,137,859$1,281,125$536,228$4,066,895
80$8,894,051$1,270,031$480,322$4,362,045
81$9,725,047$1,256,066$420,217$4,685,630
82$10,638,405$1,239,016$355,697$5,040,591
83$11,642,450$1,218,655$286,540$5,430,175
84$12,746,354$1,194,743$212,513$5,857,962
85$13,960,221$1,167,025$133,372$6,327,909
86$15,295,186$1,135,232$48,862$6,844,378
87$16,763,514$1,099,077$0$7,412,187
88$18,378,721$1,058,260$0$8,042,382
89$20,155,697$1,012,461$0$8,742,703
90$22,110,848$961,342$0$9,512,876
91$24,262,252$904,545$0$10,360,084
92$26,629,825$841,692$0$11,292,250
93$29,235,516$772,383$0$12,318,113
94$32,103,504$696,195$0$13,447,310
95$35,260,435$612,682$0$14,690,471
96$38,735,668$521,372$0$16,059,319
97$42,561,552$421,766$0$17,566,783
98$46,773,735$313,336$0$19,227,120
99$51,411,493$195,527$0$21,056,053
100$56,518,109$67,751$0$23,070,922