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

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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$85,056$84,299$83,560$82,838$82,134$81,344
2 years$42,107$41,323$40,563$39,826$39,111$38,315
3 years$27,793$27,005$26,247$25,517$24,814$24,037
4 years$20,637$19,852$19,101$18,384$17,697$16,945
5 years$16,344$15,564$14,823$14,120$13,453$12,728
6 years$13,484$12,709$11,979$11,292$10,645$9,948
7 years$11,441$10,673$9,955$9,284$8,657$7,988
8 years$9,910$9,149$8,443$7,788$7,182$6,541
9 years$8,720$7,966$7,272$6,634$6,048$5,436
10 years$7,768$7,021$6,339$5,718$5,154$4,569
11 years$6,990$6,251$5,581$4,977$4,432$3,874
12 years$6,342$5,610$4,953$4,365$3,841$3,310
13 years$5,794$5,070$4,425$3,854$3,349$2,844
14 years$5,325$4,609$3,976$3,421$2,936$2,456
15 years$4,918$4,210$3,590$3,051$2,585$2,130
16 years$4,563$3,863$3,255$2,732$2,285$1,853
17 years$4,250$3,557$2,962$2,454$2,026$1,618
18 years$3,972$3,287$2,704$2,212$1,801$1,415
19 years$3,724$3,046$2,475$1,999$1,605$1,241
20 years$3,501$2,831$2,272$1,810$1,434$1,090
21 years$3,299$2,637$2,089$1,643$1,283$959
22 years$3,116$2,461$1,926$1,494$1,150$845
23 years$2,949$2,302$1,778$1,360$1,033$746
24 years$2,796$2,157$1,644$1,241$928$659
25 years$2,655$2,024$1,523$1,133$835$583
26 years$2,526$1,902$1,413$1,036$752$515
27 years$2,407$1,790$1,312$948$678$456
28 years$2,296$1,687$1,219$869$612$404
29 years$2,193$1,592$1,135$797$553$359
30 years$2,097$1,503$1,057$731$499$318
31 years$2,007$1,421$985$672$451$282
32 years$1,923$1,344$919$617$408$251
33 years$1,845$1,273$858$568$370$222
34 years$1,771$1,207$802$522$335$198
35 years$1,701$1,145$750$481$303$176
36 years$1,636$1,086$701$443$275$156
37 years$1,574$1,032$657$408$249$139
38 years$1,516$981$615$376$226$123
39 years$1,461$932$576$347$205$110
40 years$1,408$887$540$320$186$98
41 years$1,359$844$506$295$168$87
42 years$1,311$804$475$272$153$77
43 years$1,266$766$446$251$139$69
44 years$1,224$730$418$232$126$61
45 years$1,183$697$393$214$114$54
46 years$1,144$664$369$198$104$48
47 years$1,107$634$347$183$94$43
48 years$1,072$605$326$169$86$38
49 years$1,038$578$306$156$78$34
50 years$1,006$552$288$144$71$30

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 $3,278 every year, while hoping to spend $33,426 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: 44/46/10 Blend
53$1,030,000$1,030,000$1,030,000$1,030,000
54$1,138,441$1,083,851$1,067,886$1,185,136
55$1,218,997$1,101,395$1,068,095$1,235,439
56$1,306,650$1,118,678$1,067,191$1,286,266
57$1,402,087$1,135,652$1,065,101$1,340,598
58$1,506,067$1,152,266$1,061,749$1,398,771
59$1,619,423$1,168,465$1,057,056$1,461,153
60$1,743,074$1,184,189$1,050,936$1,528,154
61$1,878,029$1,199,376$1,043,304$1,600,222
62$2,025,399$1,213,957$1,034,066$1,677,856
63$2,186,410$1,227,860$1,023,127$1,761,604
64$2,362,407$1,241,009$1,010,386$1,852,072
65$2,554,876$1,253,322$995,737$1,949,928
66$2,765,449$1,264,710$979,069$2,055,911
67$2,995,924$1,275,080$960,267$2,170,836
68$3,248,282$1,284,333$939,211$2,295,604
69$3,524,705$1,292,363$915,772$2,431,206
70$3,827,593$1,299,057$889,818$2,578,741
71$4,159,591$1,304,295$861,211$2,739,417
72$4,523,614$1,307,949$829,806$2,914,572
73$4,922,868$1,309,885$795,450$3,105,681
74$5,360,889$1,309,957$757,986$3,314,370
75$5,841,568$1,308,014$717,247$3,542,436
76$6,369,194$1,303,892$673,060$3,791,863
77$6,948,488$1,297,420$625,245$4,064,838
78$7,584,654$1,288,413$573,611$4,363,777
79$8,283,423$1,276,680$517,961$4,691,345
80$9,051,108$1,262,013$458,088$5,050,481
81$9,894,664$1,244,195$393,777$5,444,433
82$10,821,754$1,222,994$324,803$5,876,779
83$11,840,818$1,198,167$250,929$6,351,471
84$12,961,158$1,169,453$171,912$6,872,868
85$14,193,018$1,136,578$87,493$7,445,779
86$15,547,687$1,099,252$0$8,075,511
87$17,037,603$1,057,167$0$8,768,192
88$18,676,468$1,009,997$0$9,539,985
89$20,479,379$957,399$0$10,388,698
90$22,462,971$899,007$0$11,322,221
91$24,645,573$834,437$0$12,349,256
92$27,047,378$763,281$0$13,479,396
93$29,690,639$685,110$0$14,723,224
94$32,599,871$599,467$0$16,092,408
95$35,802,090$505,873$0$17,599,815
96$39,327,061$403,819$0$19,259,632
97$43,207,585$292,770$0$21,087,504
98$47,479,800$172,157$0$23,100,681
99$52,183,530$41,383$0$25,318,184
100$57,362,655$0$0$27,760,983