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%16.9%
1 years$85,056$84,299$83,560$82,838$82,134$79,825
2 years$42,107$41,323$40,563$39,826$39,111$36,802
3 years$27,793$27,005$26,247$25,517$24,814$22,578
4 years$20,637$19,852$19,101$18,384$17,697$15,551
5 years$16,344$15,564$14,823$14,120$13,453$11,403
6 years$13,484$12,709$11,979$11,292$10,645$8,692
7 years$11,441$10,673$9,955$9,284$8,657$6,802
8 years$9,910$9,149$8,443$7,788$7,182$5,423
9 years$8,720$7,966$7,272$6,634$6,048$4,384
10 years$7,768$7,021$6,339$5,718$5,154$3,582
11 years$6,990$6,251$5,581$4,977$4,432$2,951
12 years$6,342$5,610$4,953$4,365$3,841$2,447
13 years$5,794$5,070$4,425$3,854$3,349$2,040
14 years$5,325$4,609$3,976$3,421$2,936$1,708
15 years$4,918$4,210$3,590$3,051$2,585$1,434
16 years$4,563$3,863$3,255$2,732$2,285$1,209
17 years$4,250$3,557$2,962$2,454$2,026$1,021
18 years$3,972$3,287$2,704$2,212$1,801$864
19 years$3,724$3,046$2,475$1,999$1,605$732
20 years$3,501$2,831$2,272$1,810$1,434$621
21 years$3,299$2,637$2,089$1,643$1,283$528
22 years$3,116$2,461$1,926$1,494$1,150$449
23 years$2,949$2,302$1,778$1,360$1,033$382
24 years$2,796$2,157$1,644$1,241$928$326
25 years$2,655$2,024$1,523$1,133$835$278
26 years$2,526$1,902$1,413$1,036$752$237
27 years$2,407$1,790$1,312$948$678$202
28 years$2,296$1,687$1,219$869$612$172
29 years$2,193$1,592$1,135$797$553$147
30 years$2,097$1,503$1,057$731$499$126
31 years$2,007$1,421$985$672$451$107
32 years$1,923$1,344$919$617$408$92
33 years$1,845$1,273$858$568$370$78
34 years$1,771$1,207$802$522$335$67
35 years$1,701$1,145$750$481$303$57
36 years$1,636$1,086$701$443$275$49
37 years$1,574$1,032$657$408$249$42
38 years$1,516$981$615$376$226$36
39 years$1,461$932$576$347$205$31
40 years$1,408$887$540$320$186$26
41 years$1,359$844$506$295$168$22
42 years$1,311$804$475$272$153$19
43 years$1,266$766$446$251$139$16
44 years$1,224$730$418$232$126$14
45 years$1,183$697$393$214$114$12
46 years$1,144$664$369$198$104$10
47 years$1,107$634$347$183$94$9
48 years$1,072$605$326$169$86$8
49 years$1,038$578$306$156$78$6
50 years$1,006$552$288$144$71$5

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 $3,844 every year, while hoping to spend $43,925 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: 45/43/12 Blend
53$1,030,000$1,030,000$1,030,000$1,030,000
54$1,139,025$1,084,435$1,068,470$1,186,229
55$1,208,470$1,090,837$1,057,528$1,225,796
56$1,283,526$1,096,079$1,044,747$1,263,901
57$1,364,719$1,100,061$1,030,020$1,304,242
58$1,452,627$1,102,671$1,013,232$1,347,042
59$1,547,886$1,103,793$994,267$1,392,550
60$1,651,195$1,103,303$972,999$1,441,041
61$1,763,323$1,101,071$949,300$1,492,820
62$1,885,114$1,096,956$923,034$1,548,229
63$2,017,499$1,090,810$894,059$1,607,642
64$2,161,500$1,082,476$862,226$1,671,479
65$2,318,243$1,071,787$827,381$1,740,204
66$2,488,967$1,058,567$789,361$1,814,330
67$2,675,033$1,042,629$747,997$1,894,428
68$2,877,943$1,023,774$703,111$1,981,131
69$3,099,346$1,001,792$654,518$2,075,139
70$3,341,059$976,460$602,024$2,177,229
71$3,605,083$947,542$545,428$2,288,262
72$3,893,619$914,790$484,518$2,409,191
73$4,209,092$877,938$419,073$2,541,072
74$4,554,171$836,708$348,862$2,685,074
75$4,931,793$790,803$273,646$2,842,491
76$5,345,195$739,912$193,173$3,014,755
77$5,797,941$683,704$107,180$3,203,454
78$6,293,954$621,829$15,394$3,410,340
79$6,837,556$553,917$0$3,637,356
80$7,433,507$479,579$0$3,897,218
81$8,087,048$398,402$0$4,184,523
82$8,803,953$309,949$0$4,499,963
83$9,590,581$213,761$0$4,846,484
84$10,453,936$109,352$0$5,227,340
85$11,401,736$0$0$5,646,126
86$12,442,477$0$0$6,108,606
87$13,585,524$0$0$6,673,502
88$14,841,191$0$0$7,294,184
89$16,220,838$0$0$7,976,286
90$17,736,983$0$0$8,726,013
91$19,403,417$0$0$9,550,200
92$21,235,330$0$0$10,456,379
93$23,249,460$0$0$11,452,848
94$25,464,248$0$0$12,548,750
95$27,900,010$0$0$13,754,156
96$30,579,128$0$0$15,080,165
97$33,526,267$0$0$16,539,005
98$36,768,598$0$0$18,144,146
99$40,336,060$0$0$19,910,435
100$44,261,641$0$0$21,854,225