Can I retire at age 54 with 1,030,000?

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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$85,056$84,299$83,560$82,838$82,134$80,973
2 years$42,107$41,323$40,563$39,826$39,111$37,944
3 years$27,793$27,005$26,247$25,517$24,814$23,677
4 years$20,637$19,852$19,101$18,384$17,697$16,599
5 years$16,344$15,564$14,823$14,120$13,453$12,397
6 years$13,484$12,709$11,979$11,292$10,645$9,631
7 years$11,441$10,673$9,955$9,284$8,657$7,687
8 years$9,910$9,149$8,443$7,788$7,182$6,255
9 years$8,720$7,966$7,272$6,634$6,048$5,164
10 years$7,768$7,021$6,339$5,718$5,154$4,311
11 years$6,990$6,251$5,581$4,977$4,432$3,631
12 years$6,342$5,610$4,953$4,365$3,841$3,081
13 years$5,794$5,070$4,425$3,854$3,349$2,628
14 years$5,325$4,609$3,976$3,421$2,936$2,253
15 years$4,918$4,210$3,590$3,051$2,585$1,939
16 years$4,563$3,863$3,255$2,732$2,285$1,675
17 years$4,250$3,557$2,962$2,454$2,026$1,450
18 years$3,972$3,287$2,704$2,212$1,801$1,259
19 years$3,724$3,046$2,475$1,999$1,605$1,095
20 years$3,501$2,831$2,272$1,810$1,434$955
21 years$3,299$2,637$2,089$1,643$1,283$833
22 years$3,116$2,461$1,926$1,494$1,150$728
23 years$2,949$2,302$1,778$1,360$1,033$637
24 years$2,796$2,157$1,644$1,241$928$558
25 years$2,655$2,024$1,523$1,133$835$489
26 years$2,526$1,902$1,413$1,036$752$429
27 years$2,407$1,790$1,312$948$678$376
28 years$2,296$1,687$1,219$869$612$331
29 years$2,193$1,592$1,135$797$553$290
30 years$2,097$1,503$1,057$731$499$255
31 years$2,007$1,421$985$672$451$225
32 years$1,923$1,344$919$617$408$198
33 years$1,845$1,273$858$568$370$174
34 years$1,771$1,207$802$522$335$153
35 years$1,701$1,145$750$481$303$135
36 years$1,636$1,086$701$443$275$119
37 years$1,574$1,032$657$408$249$104
38 years$1,516$981$615$376$226$92
39 years$1,461$932$576$347$205$81
40 years$1,408$887$540$320$186$71
41 years$1,359$844$506$295$168$63
42 years$1,311$804$475$272$153$55
43 years$1,266$766$446$251$139$49
44 years$1,224$730$418$232$126$43
45 years$1,183$697$393$214$114$38
46 years$1,144$664$369$198$104$33
47 years$1,107$634$347$183$94$29
48 years$1,072$605$326$169$86$26
49 years$1,038$578$306$156$78$23
50 years$1,006$552$288$144$71$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,030,000, adding $4,304 every year, while hoping to spend $38,312 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: 52/40/8 Blend
53$1,030,000$1,030,000$1,030,000$1,030,000
54$1,139,500$1,084,910$1,068,945$1,196,253
55$1,214,965$1,097,306$1,063,991$1,247,694
56$1,296,844$1,109,027$1,057,587$1,299,099
57$1,385,749$1,119,997$1,049,643$1,354,092
58$1,482,357$1,130,138$1,040,068$1,413,019
59$1,587,410$1,139,367$1,028,763$1,476,262
60$1,701,725$1,147,595$1,015,625$1,544,244
61$1,826,200$1,154,726$1,000,547$1,617,432
62$1,961,824$1,160,660$983,418$1,696,341
63$2,109,688$1,165,290$964,120$1,781,539
64$2,270,987$1,168,500$942,529$1,873,657
65$2,447,042$1,170,171$918,518$1,973,387
66$2,639,303$1,170,172$891,951$2,081,496
67$2,849,369$1,168,368$862,689$2,198,831
68$3,078,999$1,164,612$830,583$2,326,328
69$3,330,129$1,158,750$795,479$2,465,018
70$3,604,892$1,150,619$757,218$2,616,043
71$3,905,636$1,140,044$715,630$2,780,660
72$4,234,947$1,126,843$670,540$2,960,259
73$4,595,673$1,110,819$621,764$3,156,377
74$4,990,948$1,091,765$569,109$3,370,706
75$5,424,227$1,069,464$512,377$3,605,118
76$5,899,312$1,043,682$451,356$3,861,678
77$6,420,393$1,014,174$385,827$4,142,664
78$6,992,084$980,679$315,564$4,450,594
79$7,619,468$942,923$240,326$4,788,244
80$8,308,141$900,614$159,864$5,158,679
81$9,064,271$853,444$73,919$5,565,283
82$9,894,650$801,086$0$6,011,789
83$10,806,761$743,196$0$6,503,837
84$11,808,848$679,410$0$7,051,285
85$12,909,991$609,341$0$7,652,860
86$14,120,195$532,584$0$8,314,124
87$15,450,481$448,707$0$9,041,211
88$16,912,992$357,255$0$9,840,890
89$18,521,106$257,750$0$10,720,625
90$20,289,562$149,682$0$11,688,649
91$22,234,598$32,518$0$12,754,042
92$24,374,107$0$0$13,926,821
93$26,727,799$0$0$15,259,541
94$29,317,396$0$0$16,741,702
95$32,166,828$0$0$18,372,702
96$35,302,462$0$0$20,167,651
97$38,753,351$0$0$22,143,193
98$42,551,508$0$0$24,317,671
99$46,732,203$0$0$26,711,297
100$51,334,303$0$0$29,346,338