Can I retire at age 54 with 1,010,000?

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 $1,010,000?

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$83,405$82,662$81,937$81,230$80,539$77,374
2 years$41,290$40,521$39,775$39,053$38,352$35,202
3 years$27,253$26,481$25,737$25,021$24,332$21,296
4 years$20,236$19,466$18,730$18,027$17,354$14,455
5 years$16,027$15,262$14,535$13,846$13,192$10,438
6 years$13,222$12,462$11,747$11,073$10,438$7,831
7 years$11,219$10,466$9,762$9,104$8,489$6,028
8 years$9,717$8,971$8,279$7,637$7,043$4,724
9 years$8,550$7,811$7,130$6,505$5,931$3,752
10 years$7,617$6,885$6,216$5,607$5,053$3,010
11 years$6,854$6,129$5,473$4,880$4,346$2,434
12 years$6,219$5,501$4,857$4,280$3,766$1,979
13 years$5,681$4,972$4,339$3,779$3,284$1,618
14 years$5,221$4,519$3,899$3,355$2,879$1,327
15 years$4,823$4,128$3,520$2,992$2,535$1,092
16 years$4,475$3,788$3,192$2,679$2,240$901
17 years$4,168$3,488$2,904$2,407$1,986$745
18 years$3,895$3,223$2,651$2,169$1,766$617
19 years$3,652$2,987$2,427$1,960$1,574$511
20 years$3,433$2,776$2,227$1,775$1,406$425
21 years$3,235$2,586$2,049$1,611$1,258$353
22 years$3,055$2,414$1,888$1,465$1,128$293
23 years$2,891$2,257$1,743$1,334$1,013$244
24 years$2,742$2,115$1,612$1,217$910$203
25 years$2,604$1,985$1,493$1,111$819$169
26 years$2,477$1,865$1,385$1,016$738$141
27 years$2,360$1,756$1,286$930$665$118
28 years$2,251$1,654$1,196$852$600$98
29 years$2,150$1,561$1,113$781$542$82
30 years$2,056$1,474$1,036$717$490$68
31 years$1,968$1,393$966$659$443$57
32 years$1,886$1,318$901$605$400$47
33 years$1,809$1,248$842$557$362$40
34 years$1,736$1,183$786$512$328$33
35 years$1,668$1,122$735$471$297$28
36 years$1,604$1,065$688$434$269$23
37 years$1,544$1,012$644$400$244$19
38 years$1,486$962$603$369$221$16
39 years$1,432$914$565$340$201$13
40 years$1,381$870$529$314$182$11
41 years$1,332$828$496$289$165$9
42 years$1,286$789$466$267$150$8
43 years$1,242$751$437$246$136$6
44 years$1,200$716$410$228$123$5
45 years$1,160$683$385$210$112$5
46 years$1,122$652$362$194$102$4
47 years$1,086$622$340$179$92$3
48 years$1,051$594$319$166$84$3
49 years$1,018$567$300$153$76$2
50 years$986$541$282$142$69$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,010,000, adding $2,488 every year, while hoping to spend $36,056 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: 42/47/11 Blend
53$1,010,000$1,010,000$1,010,000$1,010,000
54$1,115,586$1,062,056$1,046,401$1,158,745
55$1,191,013$1,075,734$1,043,093$1,202,870
56$1,272,924$1,088,873$1,038,464$1,246,818
57$1,361,944$1,101,410$1,032,435$1,293,602
58$1,458,759$1,113,275$1,024,917$1,343,496
59$1,564,122$1,124,395$1,015,822$1,396,803
60$1,678,864$1,134,692$1,005,053$1,453,858
61$1,803,899$1,144,082$992,513$1,515,031
62$1,940,231$1,152,477$978,097$1,580,733
63$2,088,968$1,159,782$961,697$1,651,415
64$2,251,328$1,165,896$943,198$1,727,581
65$2,428,650$1,170,712$922,483$1,809,784
66$2,622,412$1,174,116$899,425$1,898,636
67$2,834,237$1,175,987$873,895$1,994,816
68$3,065,916$1,176,197$845,757$2,099,072
69$3,319,417$1,174,608$814,868$2,212,233
70$3,596,909$1,171,076$781,078$2,335,215
71$3,900,782$1,165,447$744,232$2,469,029
72$4,233,665$1,157,557$704,167$2,614,794
73$4,598,454$1,147,233$660,712$2,773,745
74$4,998,341$1,134,291$613,690$2,947,249
75$5,436,837$1,118,537$562,914$3,136,814
76$5,917,812$1,099,763$508,189$3,344,108
77$6,445,530$1,077,752$449,314$3,570,972
78$7,024,683$1,052,271$386,076$3,819,442
79$7,660,444$1,023,076$318,253$4,091,765
80$8,358,509$989,907$245,614$4,390,423
81$9,125,153$952,488$167,918$4,718,157
82$9,967,288$910,529$84,912$5,077,995
83$10,892,528$863,722$0$5,473,281
84$11,909,263$811,742$0$5,908,135
85$13,026,735$754,244$0$6,396,866
86$14,255,125$690,864$0$6,934,031
87$15,605,650$621,219$0$7,524,631
88$17,090,668$544,901$0$8,174,186
89$18,723,795$461,480$0$8,888,785
90$20,520,033$370,503$0$9,675,148
91$22,495,908$271,489$0$10,540,688
92$24,669,632$163,934$0$11,493,583
93$27,061,269$47,301$0$12,542,857
94$29,692,926$0$0$13,698,462
95$32,588,961$0$0$15,012,224
96$35,776,213$0$0$16,485,167
97$39,284,256$0$0$18,106,515
98$43,145,672$0$0$19,891,345
99$47,396,368$0$0$21,856,274
100$52,075,905$0$0$24,019,610