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%18%
1 years$83,405$82,662$81,937$81,230$80,539$77,930
2 years$41,290$40,521$39,775$39,053$38,352$35,747
3 years$27,253$26,481$25,737$25,021$24,332$21,814
4 years$20,236$19,466$18,730$18,027$17,354$14,942
5 years$16,027$15,262$14,535$13,846$13,192$10,893
6 years$13,222$12,462$11,747$11,073$10,438$8,254
7 years$11,219$10,466$9,762$9,104$8,489$6,418
8 years$9,717$8,971$8,279$7,637$7,043$5,084
9 years$8,550$7,811$7,130$6,505$5,931$4,083
10 years$7,617$6,885$6,216$5,607$5,053$3,313
11 years$6,854$6,129$5,473$4,880$4,346$2,710
12 years$6,219$5,501$4,857$4,280$3,766$2,231
13 years$5,681$4,972$4,339$3,779$3,284$1,846
14 years$5,221$4,519$3,899$3,355$2,879$1,534
15 years$4,823$4,128$3,520$2,992$2,535$1,278
16 years$4,475$3,788$3,192$2,679$2,240$1,068
17 years$4,168$3,488$2,904$2,407$1,986$895
18 years$3,895$3,223$2,651$2,169$1,766$751
19 years$3,652$2,987$2,427$1,960$1,574$631
20 years$3,433$2,776$2,227$1,775$1,406$531
21 years$3,235$2,586$2,049$1,611$1,258$448
22 years$3,055$2,414$1,888$1,465$1,128$378
23 years$2,891$2,257$1,743$1,334$1,013$319
24 years$2,742$2,115$1,612$1,217$910$269
25 years$2,604$1,985$1,493$1,111$819$227
26 years$2,477$1,865$1,385$1,016$738$192
27 years$2,360$1,756$1,286$930$665$163
28 years$2,251$1,654$1,196$852$600$138
29 years$2,150$1,561$1,113$781$542$116
30 years$2,056$1,474$1,036$717$490$99
31 years$1,968$1,393$966$659$443$83
32 years$1,886$1,318$901$605$400$71
33 years$1,809$1,248$842$557$362$60
34 years$1,736$1,183$786$512$328$51
35 years$1,668$1,122$735$471$297$43
36 years$1,604$1,065$688$434$269$36
37 years$1,544$1,012$644$400$244$31
38 years$1,486$962$603$369$221$26
39 years$1,432$914$565$340$201$22
40 years$1,381$870$529$314$182$19
41 years$1,332$828$496$289$165$16
42 years$1,286$789$466$267$150$13
43 years$1,242$751$437$246$136$11
44 years$1,200$716$410$228$123$10
45 years$1,160$683$385$210$112$8
46 years$1,122$652$362$194$102$7
47 years$1,086$622$340$179$92$6
48 years$1,051$594$319$166$84$5
49 years$1,018$567$300$153$76$4
50 years$986$541$282$142$69$4

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 $5,820 every year, while hoping to spend $57,552 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: 69/25/6 Blend
53$1,010,000$1,010,000$1,010,000$1,010,000
54$1,119,023$1,065,493$1,049,838$1,194,901
55$1,171,929$1,056,468$1,023,773$1,236,837
56$1,228,302$1,045,071$994,906$1,275,086
57$1,288,435$1,031,126$963,082$1,315,348
58$1,352,650$1,014,445$928,139$1,357,808
59$1,421,297$994,830$889,909$1,402,671
60$1,494,763$972,070$848,214$1,450,164
61$1,573,470$945,943$802,871$1,500,538
62$1,657,882$916,212$753,685$1,554,072
63$1,748,507$882,628$700,454$1,611,076
64$1,845,904$844,925$642,968$1,671,892
65$1,950,685$802,826$581,007$1,736,899
66$2,063,524$756,033$514,340$1,806,516
67$2,185,159$704,234$442,726$1,881,210
68$2,316,402$647,099$365,914$1,961,494
69$2,458,145$584,277$283,642$2,047,941
70$2,611,369$515,399$195,637$2,141,180
71$2,777,149$440,075$101,612$2,241,913
72$2,956,672$357,892$1,269$2,350,911
73$3,151,237$268,413$0$2,469,032
74$3,362,277$171,179$0$2,603,998
75$3,591,366$65,704$0$2,750,611
76$3,840,236$0$0$2,909,970
77$4,110,790$0$0$3,096,733
78$4,405,125$0$0$3,319,624
79$4,725,545$0$0$3,562,323
80$5,074,588$0$0$3,826,755
81$5,455,045$0$0$4,115,043
82$5,869,989$0$0$4,429,523
83$6,322,800$0$0$4,772,763
84$6,817,201$0$0$5,147,595
85$7,357,290$0$0$5,557,131
86$7,947,577$0$0$6,004,802
87$8,593,028$0$0$6,494,381
88$9,299,111$0$0$7,030,026
89$10,071,847$0$0$7,616,312
90$10,917,866$0$0$8,258,281
91$11,844,467$0$0$8,961,481
92$12,859,690$0$0$9,732,025
93$13,972,389$0$0$10,576,643
94$15,192,315$0$0$11,502,749
95$16,530,208$0$0$12,518,506
96$17,997,897$0$0$13,632,910
97$19,608,410$0$0$14,855,864
98$21,376,101$0$0$16,198,279
99$23,316,775$0$0$17,672,176
100$25,447,849$0$0$19,290,792