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

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 $1,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$84,231$83,480$82,748$82,034$81,336$78,513
2 years$41,698$40,922$40,169$39,439$38,732$35,916
3 years$27,523$26,743$25,992$25,269$24,573$21,854
4 years$20,436$19,659$18,916$18,205$17,526$14,924
5 years$16,186$15,413$14,679$13,983$13,323$10,845
6 years$13,353$12,586$11,863$11,182$10,542$8,190
7 years$11,330$10,569$9,858$9,194$8,573$6,348
8 years$9,814$9,060$8,361$7,712$7,112$5,011
9 years$8,635$7,888$7,201$6,569$5,990$4,009
10 years$7,692$6,953$6,278$5,663$5,103$3,241
11 years$6,922$6,190$5,527$4,928$4,389$2,641
12 years$6,280$5,556$4,905$4,323$3,804$2,165
13 years$5,738$5,021$4,382$3,816$3,317$1,784
14 years$5,273$4,564$3,938$3,388$2,907$1,476
15 years$4,871$4,169$3,555$3,021$2,560$1,225
16 years$4,519$3,825$3,223$2,705$2,262$1,020
17 years$4,209$3,523$2,933$2,431$2,006$850
18 years$3,934$3,255$2,677$2,190$1,784$710
19 years$3,688$3,017$2,451$1,979$1,590$595
20 years$3,467$2,803$2,249$1,793$1,420$498
21 years$3,267$2,611$2,069$1,627$1,271$418
22 years$3,085$2,438$1,907$1,479$1,139$351
23 years$2,920$2,280$1,761$1,347$1,023$295
24 years$2,769$2,136$1,628$1,229$919$248
25 years$2,630$2,005$1,508$1,122$827$208
26 years$2,502$1,884$1,399$1,026$745$175
27 years$2,383$1,773$1,299$939$672$147
28 years$2,273$1,671$1,208$860$606$124
29 years$2,171$1,576$1,124$789$547$104
30 years$2,076$1,488$1,047$724$494$88
31 years$1,988$1,407$976$665$447$74
32 years$1,905$1,331$910$611$404$62
33 years$1,827$1,261$850$562$366$53
34 years$1,754$1,195$794$517$331$44
35 years$1,685$1,133$743$476$300$37
36 years$1,620$1,076$695$438$272$32
37 years$1,559$1,022$650$404$246$27
38 years$1,501$971$609$372$223$22
39 years$1,446$923$570$343$203$19
40 years$1,395$879$535$317$184$16
41 years$1,345$836$501$292$167$13
42 years$1,299$796$470$270$151$11
43 years$1,254$759$441$249$137$10
44 years$1,212$723$414$230$125$8
45 years$1,172$690$389$212$113$7
46 years$1,133$658$365$196$103$6
47 years$1,097$628$343$181$93$5
48 years$1,061$599$323$167$85$4
49 years$1,028$572$303$155$77$3
50 years$996$547$285$143$70$3

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 $4,218 every year, while hoping to spend $38,960 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: 27/45/28 Blend
53$1,020,000$1,020,000$1,020,000$1,020,000
54$1,128,391$1,074,331$1,058,521$1,148,938
55$1,202,034$1,085,520$1,052,528$1,177,098
56$1,281,882$1,095,952$1,045,029$1,203,687
57$1,368,528$1,105,547$1,035,932$1,231,444
58$1,462,623$1,114,224$1,025,140$1,260,496
59$1,564,882$1,121,893$1,012,554$1,290,985
60$1,676,094$1,128,459$998,068$1,323,070
61$1,797,124$1,133,822$981,572$1,356,929
62$1,928,927$1,137,875$962,951$1,392,763
63$2,072,551$1,140,505$942,083$1,430,795
64$2,229,151$1,141,589$918,843$1,471,275
65$2,399,998$1,141,001$893,098$1,514,483
66$2,586,491$1,138,603$864,710$1,560,730
67$2,790,170$1,134,252$833,534$1,610,365
68$3,012,729$1,127,792$799,420$1,663,776
69$3,256,035$1,119,062$762,208$1,721,395
70$3,522,143$1,107,888$721,734$1,783,705
71$3,813,314$1,094,087$677,825$1,851,241
72$4,132,041$1,077,465$630,300$1,924,603
73$4,481,064$1,057,817$578,971$2,004,453
74$4,863,407$1,034,924$523,641$2,091,532
75$5,282,394$1,008,555$464,103$2,186,659
76$5,741,690$978,466$400,142$2,290,749
77$6,245,330$944,398$331,534$2,404,814
78$6,797,758$906,078$258,044$2,529,981
79$7,403,869$863,215$179,428$2,667,496
80$8,069,054$815,503$95,430$2,818,748
81$8,799,252$762,618$5,782$2,985,272
82$9,601,007$704,217$0$3,168,772
83$10,481,523$639,937$0$3,397,994
84$11,448,741$569,396$0$3,651,764
85$12,511,405$492,189$0$3,930,763
86$13,679,149$407,888$0$4,237,657
87$14,962,589$316,041$0$4,575,388
88$16,373,416$216,170$0$4,947,210
89$17,924,515$107,772$0$5,356,717
90$19,630,077$0$0$5,807,881
91$21,505,740$0$0$6,309,883
92$23,568,733$0$0$6,920,905
93$25,838,037$0$0$7,593,224
94$28,334,567$0$0$8,333,060
95$31,081,366$0$0$9,147,269
96$34,103,824$0$0$10,043,399
97$37,429,916$0$0$11,029,773
98$41,090,465$0$0$12,115,559
99$45,119,436$0$0$13,310,858
100$49,554,250$0$0$14,626,802