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%15.5%
1 years$84,231$83,480$82,748$82,034$81,336$79,499
2 years$41,698$40,922$40,169$39,439$38,732$36,891
3 years$27,523$26,743$25,992$25,269$24,573$22,785
4 years$20,436$19,659$18,916$18,205$17,526$15,806
5 years$16,186$15,413$14,679$13,983$13,323$11,675
6 years$13,353$12,586$11,863$11,182$10,542$8,968
7 years$11,330$10,569$9,858$9,194$8,573$7,074
8 years$9,814$9,060$8,361$7,712$7,112$5,686
9 years$8,635$7,888$7,201$6,569$5,990$4,636
10 years$7,692$6,953$6,278$5,663$5,103$3,821
11 years$6,922$6,190$5,527$4,928$4,389$3,176
12 years$6,280$5,556$4,905$4,323$3,804$2,658
13 years$5,738$5,021$4,382$3,816$3,317$2,236
14 years$5,273$4,564$3,938$3,388$2,907$1,890
15 years$4,871$4,169$3,555$3,021$2,560$1,604
16 years$4,519$3,825$3,223$2,705$2,262$1,365
17 years$4,209$3,523$2,933$2,431$2,006$1,164
18 years$3,934$3,255$2,677$2,190$1,784$995
19 years$3,688$3,017$2,451$1,979$1,590$852
20 years$3,467$2,803$2,249$1,793$1,420$731
21 years$3,267$2,611$2,069$1,627$1,271$628
22 years$3,085$2,438$1,907$1,479$1,139$540
23 years$2,920$2,280$1,761$1,347$1,023$465
24 years$2,769$2,136$1,628$1,229$919$401
25 years$2,630$2,005$1,508$1,122$827$345
26 years$2,502$1,884$1,399$1,026$745$298
27 years$2,383$1,773$1,299$939$672$257
28 years$2,273$1,671$1,208$860$606$222
29 years$2,171$1,576$1,124$789$547$192
30 years$2,076$1,488$1,047$724$494$166
31 years$1,988$1,407$976$665$447$143
32 years$1,905$1,331$910$611$404$124
33 years$1,827$1,261$850$562$366$107
34 years$1,754$1,195$794$517$331$93
35 years$1,685$1,133$743$476$300$80
36 years$1,620$1,076$695$438$272$69
37 years$1,559$1,022$650$404$246$60
38 years$1,501$971$609$372$223$52
39 years$1,446$923$570$343$203$45
40 years$1,395$879$535$317$184$39
41 years$1,345$836$501$292$167$34
42 years$1,299$796$470$270$151$29
43 years$1,254$759$441$249$137$25
44 years$1,212$723$414$230$125$22
45 years$1,172$690$389$212$113$19
46 years$1,133$658$365$196$103$16
47 years$1,097$628$343$181$93$14
48 years$1,061$599$323$167$85$12
49 years$1,028$572$303$155$77$11
50 years$996$547$285$143$70$9

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 $2,569 every year, while hoping to spend $51,968 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: 73/13/14 Blend
53$1,020,000$1,020,000$1,020,000$1,020,000
54$1,126,690$1,072,630$1,056,820$1,205,336
55$1,186,319$1,069,895$1,036,930$1,255,010
56$1,250,288$1,065,285$1,014,632$1,302,764
57$1,318,985$1,058,652$989,790$1,353,683
58$1,392,837$1,049,841$962,263$1,408,068
59$1,472,309$1,038,686$931,902$1,466,250
60$1,557,917$1,025,013$898,552$1,528,596
61$1,650,222$1,008,637$862,051$1,595,511
62$1,749,844$989,359$822,230$1,667,442
63$1,857,464$966,974$778,910$1,744,882
64$1,973,828$941,259$731,907$1,828,376
65$2,099,759$911,981$681,026$1,918,525
66$2,236,161$878,894$626,066$2,015,993
67$2,384,025$841,735$566,815$2,121,513
68$2,544,444$800,229$503,053$2,235,894
69$2,718,619$754,083$434,547$2,360,029
70$2,907,872$702,986$361,058$2,494,904
71$3,113,655$646,612$282,333$2,641,607
72$3,337,567$584,615$198,110$2,801,339
73$3,581,366$516,629$108,115$2,975,426
74$3,846,990$442,268$12,061$3,165,331
75$4,136,567$361,124$0$3,372,669
76$4,452,443$272,765$0$3,612,734
77$4,797,197$176,735$0$3,876,782
78$5,173,670$72,554$0$4,165,228
79$5,584,989$0$0$4,480,519
80$6,034,596$0$0$4,831,114
81$6,526,281$0$0$5,225,916
82$7,064,217$0$0$5,657,901
83$7,652,998$0$0$6,130,765
84$8,297,684$0$0$6,648,577
85$9,003,847$0$0$7,215,820
86$9,777,622$0$0$7,837,427
87$10,625,766$0$0$8,518,835
88$11,555,723$0$0$9,266,029
89$12,575,688$0$0$10,085,602
90$13,694,689$0$0$10,984,816
91$14,922,672$0$0$11,971,671
92$16,270,589$0$0$13,054,976
93$17,750,507$0$0$14,244,438
94$19,375,717$0$0$15,550,747
95$21,160,859$0$0$16,985,681
96$23,122,064$0$0$18,562,215
97$25,277,100$0$0$20,294,640
98$27,645,542$0$0$22,198,704
99$30,248,955$0$0$24,291,754
100$33,111,100$0$0$26,592,901