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%11.6%
1 years$84,231$83,480$82,748$82,034$81,336$80,790
2 years$41,698$40,922$40,169$39,439$38,732$38,180
3 years$27,523$26,743$25,992$25,269$24,573$24,034
4 years$20,436$19,659$18,916$18,205$17,526$17,003
5 years$16,186$15,413$14,679$13,983$13,323$12,819
6 years$13,353$12,586$11,863$11,182$10,542$10,056
7 years$11,330$10,569$9,858$9,194$8,573$8,107
8 years$9,814$9,060$8,361$7,712$7,112$6,665
9 years$8,635$7,888$7,201$6,569$5,990$5,561
10 years$7,692$6,953$6,278$5,663$5,103$4,694
11 years$6,922$6,190$5,527$4,928$4,389$3,998
12 years$6,280$5,556$4,905$4,323$3,804$3,430
13 years$5,738$5,021$4,382$3,816$3,317$2,961
14 years$5,273$4,564$3,938$3,388$2,907$2,569
15 years$4,871$4,169$3,555$3,021$2,560$2,238
16 years$4,519$3,825$3,223$2,705$2,262$1,957
17 years$4,209$3,523$2,933$2,431$2,006$1,716
18 years$3,934$3,255$2,677$2,190$1,784$1,509
19 years$3,688$3,017$2,451$1,979$1,590$1,330
20 years$3,467$2,803$2,249$1,793$1,420$1,174
21 years$3,267$2,611$2,069$1,627$1,271$1,039
22 years$3,085$2,438$1,907$1,479$1,139$920
23 years$2,920$2,280$1,761$1,347$1,023$816
24 years$2,769$2,136$1,628$1,229$919$725
25 years$2,630$2,005$1,508$1,122$827$644
26 years$2,502$1,884$1,399$1,026$745$573
27 years$2,383$1,773$1,299$939$672$510
28 years$2,273$1,671$1,208$860$606$455
29 years$2,171$1,576$1,124$789$547$405
30 years$2,076$1,488$1,047$724$494$362
31 years$1,988$1,407$976$665$447$323
32 years$1,905$1,331$910$611$404$288
33 years$1,827$1,261$850$562$366$257
34 years$1,754$1,195$794$517$331$230
35 years$1,685$1,133$743$476$300$206
36 years$1,620$1,076$695$438$272$184
37 years$1,559$1,022$650$404$246$164
38 years$1,501$971$609$372$223$147
39 years$1,446$923$570$343$203$132
40 years$1,395$879$535$317$184$118
41 years$1,345$836$501$292$167$105
42 years$1,299$796$470$270$151$94
43 years$1,254$759$441$249$137$84
44 years$1,212$723$414$230$125$76
45 years$1,172$690$389$212$113$68
46 years$1,133$658$365$196$103$61
47 years$1,097$628$343$181$93$54
48 years$1,061$599$323$167$85$49
49 years$1,028$572$303$155$77$43
50 years$996$547$285$143$70$39

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 $6,578 every year, while hoping to spend $43,039 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: 50/36/14 Blend
53$1,020,000$1,020,000$1,020,000$1,020,000
54$1,130,825$1,076,765$1,060,955$1,182,726
55$1,200,376$1,083,734$1,050,704$1,226,053
56$1,275,579$1,089,601$1,038,667$1,268,069
57$1,356,964$1,094,268$1,024,739$1,312,769
58$1,445,116$1,097,628$1,008,809$1,360,418
59$1,540,677$1,099,571$990,763$1,411,310
60$1,644,351$1,099,975$970,479$1,465,772
61$1,756,916$1,098,715$947,831$1,524,166
62$1,879,225$1,095,656$922,687$1,586,892
63$2,012,217$1,090,654$894,908$1,654,394
64$2,156,926$1,083,559$864,350$1,727,164
65$2,314,488$1,074,209$830,861$1,805,744
66$2,486,155$1,062,434$794,284$1,890,737
67$2,673,302$1,048,053$754,452$1,982,810
68$2,877,446$1,030,874$711,193$2,082,700
69$3,100,254$1,010,695$664,326$2,191,224
70$3,343,561$987,300$613,663$2,309,284
71$3,609,388$960,462$559,005$2,437,880
72$3,899,961$929,940$500,146$2,578,117
73$4,217,728$895,478$436,872$2,731,216
74$4,565,387$856,807$368,958$2,898,530
75$4,945,906$813,640$296,168$3,081,554
76$5,362,556$765,676$218,257$3,281,939
77$5,818,938$712,595$134,969$3,501,511
78$6,319,016$654,060$46,038$3,742,291
79$6,867,159$589,712$0$4,006,509
80$7,468,176$519,174$0$4,303,931
81$8,127,365$442,049$0$4,637,794
82$8,850,560$357,913$0$5,004,271
83$9,644,188$266,322$0$5,406,734
84$10,515,329$166,805$0$5,848,906
85$11,471,781$58,867$0$6,334,896
86$12,522,133$0$0$6,869,238
87$13,675,848$0$0$7,479,922
88$14,943,351$0$0$8,176,568
89$16,336,124$0$0$8,942,184
90$17,866,820$0$0$9,783,738
91$19,549,376$0$0$10,708,909
92$21,399,147$0$0$11,726,155
93$23,433,050$0$0$12,844,795
94$25,669,724$0$0$14,075,097
95$28,129,703$0$0$15,428,375
96$30,835,613$0$0$16,917,092
97$33,812,381$0$0$18,554,981
98$37,087,473$0$0$20,357,174
99$40,691,150$0$0$22,340,343
100$44,656,756$0$0$24,522,856