Can I retire at age 54 with 1,020,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$84,231$83,480$82,748$82,034$81,336$78,891
2 years$41,698$40,922$40,169$39,439$38,732$36,288
3 years$27,523$26,743$25,992$25,269$24,573$22,208
4 years$20,436$19,659$18,916$18,205$17,526$15,258
5 years$16,186$15,413$14,679$13,983$13,323$11,158
6 years$13,353$12,586$11,863$11,182$10,542$8,483
7 years$11,330$10,569$9,858$9,194$8,573$6,619
8 years$9,814$9,060$8,361$7,712$7,112$5,262
9 years$8,635$7,888$7,201$6,569$5,990$4,241
10 years$7,692$6,953$6,278$5,663$5,103$3,454
11 years$6,922$6,190$5,527$4,928$4,389$2,837
12 years$6,280$5,556$4,905$4,323$3,804$2,344
13 years$5,738$5,021$4,382$3,816$3,317$1,948
14 years$5,273$4,564$3,938$3,388$2,907$1,625
15 years$4,871$4,169$3,555$3,021$2,560$1,360
16 years$4,519$3,825$3,223$2,705$2,262$1,142
17 years$4,209$3,523$2,933$2,431$2,006$961
18 years$3,934$3,255$2,677$2,190$1,784$810
19 years$3,688$3,017$2,451$1,979$1,590$684
20 years$3,467$2,803$2,249$1,793$1,420$578
21 years$3,267$2,611$2,069$1,627$1,271$490
22 years$3,085$2,438$1,907$1,479$1,139$415
23 years$2,920$2,280$1,761$1,347$1,023$352
24 years$2,769$2,136$1,628$1,229$919$298
25 years$2,630$2,005$1,508$1,122$827$253
26 years$2,502$1,884$1,399$1,026$745$215
27 years$2,383$1,773$1,299$939$672$183
28 years$2,273$1,671$1,208$860$606$156
29 years$2,171$1,576$1,124$789$547$132
30 years$2,076$1,488$1,047$724$494$112
31 years$1,988$1,407$976$665$447$96
32 years$1,905$1,331$910$611$404$81
33 years$1,827$1,261$850$562$366$69
34 years$1,754$1,195$794$517$331$59
35 years$1,685$1,133$743$476$300$50
36 years$1,620$1,076$695$438$272$43
37 years$1,559$1,022$650$404$246$36
38 years$1,501$971$609$372$223$31
39 years$1,446$923$570$343$203$26
40 years$1,395$879$535$317$184$22
41 years$1,345$836$501$292$167$19
42 years$1,299$796$470$270$151$16
43 years$1,254$759$441$249$137$14
44 years$1,212$723$414$230$125$12
45 years$1,172$690$389$212$113$10
46 years$1,133$658$365$196$103$9
47 years$1,097$628$343$181$93$7
48 years$1,061$599$323$167$85$6
49 years$1,028$572$303$155$77$5
50 years$996$547$285$143$70$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,020,000, adding $4,746 every year, while hoping to spend $51,983 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: 76/19/5 Blend
53$1,020,000$1,020,000$1,020,000$1,020,000
54$1,128,935$1,074,875$1,059,065$1,214,033
55$1,188,777$1,072,235$1,039,235$1,267,930
56$1,252,981$1,067,723$1,016,997$1,319,807
57$1,321,936$1,061,192$992,218$1,375,135
58$1,396,071$1,052,488$964,754$1,434,235
59$1,475,855$1,041,445$934,459$1,497,459
60$1,561,806$1,027,889$901,176$1,565,196
61$1,654,488$1,011,634$864,744$1,637,878
62$1,754,526$992,484$824,993$1,715,976
63$1,862,602$970,230$781,745$1,800,014
64$1,979,470$944,654$734,816$1,890,568
65$2,105,955$915,521$684,011$1,988,273
66$2,242,966$882,585$629,129$2,093,832
67$2,391,501$845,584$569,957$2,208,018
68$2,552,659$804,243$506,276$2,331,684
69$2,727,648$758,268$437,853$2,465,773
70$2,917,796$707,351$364,449$2,611,322
71$3,124,564$651,165$285,812$2,769,479
72$3,349,562$589,364$201,679$2,941,507
73$3,594,557$521,583$111,775$3,128,801
74$3,861,498$447,436$15,815$3,332,902
75$4,152,525$366,515$0$3,555,505
76$4,469,998$278,389$0$3,803,105
77$4,816,511$182,604$0$4,074,349
78$5,194,922$78,678$0$4,370,689
79$5,608,375$0$0$4,694,658
80$6,060,332$0$0$5,056,136
81$6,554,606$0$0$5,469,486
82$7,095,394$0$0$5,921,773
83$7,687,318$0$0$6,416,866
84$8,335,465$0$0$6,959,028
85$9,045,441$0$0$7,552,951
86$9,823,417$0$0$8,203,804
87$10,676,190$0$0$8,917,278
88$11,611,245$0$0$9,699,641
89$12,636,827$0$0$10,557,799
90$13,762,018$0$0$11,499,356
91$14,996,819$0$0$12,532,689
92$16,352,249$0$0$13,667,024
93$17,840,444$0$0$14,912,526
94$19,474,774$0$0$16,280,390
95$21,269,965$0$0$17,782,949
96$23,242,242$0$0$19,433,792
97$25,409,477$0$0$21,247,885
98$27,791,361$0$0$23,241,719
99$30,409,586$0$0$25,433,460
100$33,288,050$0$0$27,843,124