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%14.5%
1 years$83,405$82,662$81,937$81,230$80,539$79,042
2 years$41,290$40,521$39,775$39,053$38,352$36,849
3 years$27,253$26,481$25,737$25,021$24,332$22,871
4 years$20,236$19,466$18,730$18,027$17,354$15,945
5 years$16,027$15,262$14,535$13,846$13,192$11,840
6 years$13,222$12,462$11,747$11,073$10,438$9,144
7 years$11,219$10,466$9,762$9,104$8,489$7,253
8 years$9,717$8,971$8,279$7,637$7,043$5,865
9 years$8,550$7,811$7,130$6,505$5,931$4,810
10 years$7,617$6,885$6,216$5,607$5,053$3,989
11 years$6,854$6,129$5,473$4,880$4,346$3,337
12 years$6,219$5,501$4,857$4,280$3,766$2,811
13 years$5,681$4,972$4,339$3,779$3,284$2,381
14 years$5,221$4,519$3,899$3,355$2,879$2,026
15 years$4,823$4,128$3,520$2,992$2,535$1,731
16 years$4,475$3,788$3,192$2,679$2,240$1,483
17 years$4,168$3,488$2,904$2,407$1,986$1,274
18 years$3,895$3,223$2,651$2,169$1,766$1,098
19 years$3,652$2,987$2,427$1,960$1,574$947
20 years$3,433$2,776$2,227$1,775$1,406$819
21 years$3,235$2,586$2,049$1,611$1,258$709
22 years$3,055$2,414$1,888$1,465$1,128$614
23 years$2,891$2,257$1,743$1,334$1,013$533
24 years$2,742$2,115$1,612$1,217$910$462
25 years$2,604$1,985$1,493$1,111$819$402
26 years$2,477$1,865$1,385$1,016$738$349
27 years$2,360$1,756$1,286$930$665$304
28 years$2,251$1,654$1,196$852$600$265
29 years$2,150$1,561$1,113$781$542$230
30 years$2,056$1,474$1,036$717$490$201
31 years$1,968$1,393$966$659$443$175
32 years$1,886$1,318$901$605$400$152
33 years$1,809$1,248$842$557$362$133
34 years$1,736$1,183$786$512$328$116
35 years$1,668$1,122$735$471$297$101
36 years$1,604$1,065$688$434$269$88
37 years$1,544$1,012$644$400$244$77
38 years$1,486$962$603$369$221$67
39 years$1,432$914$565$340$201$59
40 years$1,381$870$529$314$182$51
41 years$1,332$828$496$289$165$45
42 years$1,286$789$466$267$150$39
43 years$1,242$751$437$246$136$34
44 years$1,200$716$410$228$123$30
45 years$1,160$683$385$210$112$26
46 years$1,122$652$362$194$102$23
47 years$1,086$622$340$179$92$20
48 years$1,051$594$319$166$84$17
49 years$1,018$567$300$153$76$15
50 years$986$541$282$142$69$13

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 $2,624 every year, while hoping to spend $58,906 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: 85/5/10 Blend
53$1,010,000$1,010,000$1,010,000$1,010,000
54$1,115,727$1,062,197$1,046,542$1,208,723
55$1,166,855$1,051,569$1,018,925$1,259,252
56$1,221,225$1,038,446$988,409$1,306,520
57$1,279,103$1,022,643$954,835$1,356,624
58$1,340,785$1,003,966$918,035$1,409,813
59$1,406,591$982,207$877,835$1,466,358
60$1,476,875$957,146$834,054$1,526,561
61$1,552,022$928,552$786,501$1,590,750
62$1,632,456$896,179$734,976$1,659,289
63$1,718,641$859,766$679,273$1,732,579
64$1,811,087$819,040$619,173$1,811,060
65$1,910,353$773,707$554,450$1,895,216
66$2,017,051$723,461$484,867$1,985,583
67$2,131,856$667,976$410,175$2,082,748
68$2,255,506$606,908$330,117$2,187,359
69$2,388,814$539,893$244,422$2,300,131
70$2,532,672$466,546$152,809$2,421,849
71$2,688,059$386,462$54,983$2,553,380
72$2,856,054$299,211$0$2,695,680
73$3,037,838$204,339$0$2,855,072
74$3,234,715$101,369$0$3,034,048
75$3,448,114$0$0$3,228,048
76$3,679,608$0$0$3,439,079
77$3,930,928$0$0$3,674,251
78$4,203,977$0$0$3,929,769
79$4,500,848$0$0$4,207,593
80$4,823,844$0$0$4,509,880
81$5,175,498$0$0$4,839,003
82$5,558,599$0$0$5,197,574
83$5,976,216$0$0$5,588,467
84$6,431,724$0$0$6,014,843
85$6,928,841$0$0$6,480,186
86$7,471,658$0$0$6,988,326
87$8,064,679$0$0$7,543,482
88$8,712,862$0$0$8,150,297
89$9,421,665$0$0$8,813,886
90$10,197,099$0$0$9,539,876
91$11,045,782$0$0$10,334,467
92$11,975,001$0$0$11,204,484
93$12,992,780$0$0$12,157,445
94$14,107,957$0$0$13,201,625
95$15,330,264$0$0$14,346,141
96$16,670,421$0$0$15,601,034
97$18,140,232$0$0$16,977,361
98$19,752,702$0$0$18,487,301
99$21,522,151$0$0$20,144,270
100$23,464,356$0$0$21,963,044