Can I retire at age 54 with 1,040,000?

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 $1,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$85,882$85,117$84,371$83,642$82,931$81,692
2 years$42,516$41,724$40,957$40,213$39,491$38,245
3 years$28,062$27,267$26,502$25,765$25,055$23,841
4 years$20,837$20,044$19,286$18,562$17,869$16,697
5 years$16,503$15,715$14,967$14,257$13,584$12,457
6 years$13,615$12,832$12,096$11,402$10,748$9,668
7 years$11,552$10,777$10,052$9,374$8,741$7,708
8 years$10,006$9,238$8,524$7,864$7,252$6,265
9 years$8,804$8,043$7,342$6,698$6,107$5,166
10 years$7,843$7,089$6,401$5,774$5,204$4,308
11 years$7,058$6,311$5,635$5,025$4,475$3,624
12 years$6,403$5,665$5,001$4,408$3,878$3,070
13 years$5,850$5,119$4,468$3,891$3,382$2,616
14 years$5,376$4,653$4,015$3,454$2,964$2,240
15 years$4,966$4,251$3,625$3,081$2,610$1,925
16 years$4,608$3,900$3,286$2,758$2,307$1,660
17 years$4,292$3,592$2,991$2,478$2,045$1,436
18 years$4,011$3,319$2,730$2,233$1,819$1,245
19 years$3,760$3,076$2,499$2,018$1,621$1,081
20 years$3,535$2,858$2,294$1,828$1,448$941
21 years$3,331$2,662$2,110$1,659$1,296$820
22 years$3,146$2,485$1,944$1,508$1,161$715
23 years$2,977$2,324$1,795$1,374$1,043$625
24 years$2,823$2,178$1,660$1,253$937$546
25 years$2,681$2,044$1,538$1,144$843$478
26 years$2,551$1,921$1,426$1,046$760$419
27 years$2,430$1,808$1,324$958$685$367
28 years$2,318$1,703$1,231$877$618$322
29 years$2,214$1,607$1,146$805$558$282
30 years$2,117$1,518$1,067$738$504$248
31 years$2,027$1,435$995$678$456$217
32 years$1,942$1,357$928$623$412$191
33 years$1,862$1,286$867$573$373$168
34 years$1,788$1,218$810$527$338$147
35 years$1,718$1,156$757$485$306$130
36 years$1,652$1,097$708$447$277$114
37 years$1,589$1,042$663$412$251$100
38 years$1,530$990$621$380$228$88
39 years$1,475$941$582$350$207$77
40 years$1,422$896$545$323$187$68
41 years$1,372$853$511$298$170$60
42 years$1,324$812$480$275$154$53
43 years$1,279$774$450$254$140$46
44 years$1,236$738$422$234$127$41
45 years$1,195$703$397$216$115$36
46 years$1,155$671$372$200$105$32
47 years$1,118$640$350$185$95$28
48 years$1,082$611$329$171$86$24
49 years$1,048$584$309$158$78$22
50 years$1,015$558$291$146$71$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,040,000, adding $4,273 every year, while hoping to spend $20,974 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: 44/28/28 Blend
53$1,040,000$1,040,000$1,040,000$1,040,000
54$1,150,488$1,095,368$1,079,248$1,191,593
55$1,245,521$1,126,724$1,093,086$1,252,704
56$1,349,545$1,158,915$1,106,685$1,316,581
57$1,463,455$1,191,957$1,120,015$1,385,426
58$1,588,235$1,225,871$1,133,044$1,459,711
59$1,724,971$1,260,675$1,145,737$1,539,960
60$1,874,859$1,296,389$1,158,060$1,626,747
61$2,039,214$1,333,031$1,169,974$1,720,706
62$2,219,486$1,370,623$1,181,441$1,822,534
63$2,417,274$1,409,183$1,192,419$1,932,999
64$2,634,334$1,448,731$1,202,864$2,052,947
65$2,872,605$1,489,289$1,212,729$2,183,311
66$3,134,222$1,530,874$1,221,966$2,325,116
67$3,421,535$1,573,509$1,230,524$2,479,495
68$3,737,133$1,617,213$1,238,348$2,647,693
69$4,083,871$1,662,007$1,245,383$2,831,083
70$4,464,890$1,707,910$1,251,568$3,031,178
71$4,883,655$1,754,943$1,256,841$3,249,645
72$5,343,978$1,803,126$1,261,136$3,488,320
73$5,850,064$1,852,479$1,264,384$3,749,228
74$6,406,542$1,903,022$1,266,513$4,034,598
75$7,018,513$1,954,774$1,267,445$4,346,887
76$7,691,599$2,007,755$1,267,101$4,688,804
77$8,431,991$2,061,984$1,265,398$5,063,332
78$9,246,512$2,117,479$1,262,247$5,473,760
79$10,142,679$2,174,259$1,257,556$5,923,711
80$11,128,776$2,232,341$1,251,227$6,417,179
81$12,213,929$2,291,743$1,243,161$6,958,564
82$13,408,192$2,352,482$1,233,249$7,552,718
83$14,722,647$2,414,572$1,221,382$8,204,984
84$16,169,500$2,478,030$1,207,442$8,921,253
85$17,762,205$2,542,869$1,191,307$9,708,016
86$19,515,583$2,609,103$1,172,849$10,572,428
87$21,445,967$2,676,743$1,151,934$11,522,373
88$23,571,354$2,745,802$1,128,422$12,566,539
89$25,911,574$2,816,288$1,102,166$13,714,504
90$28,488,479$2,888,210$1,073,013$14,976,819
91$31,326,146$2,961,575$1,040,801$16,365,116
92$34,451,109$3,036,388$1,005,364$17,892,213
93$37,892,603$3,112,653$966,525$19,572,237
94$41,682,846$3,190,369$924,100$21,420,755
95$45,857,337$3,269,538$877,898$23,454,926
96$50,455,195$3,350,156$827,718$25,693,658
97$55,519,528$3,432,216$773,349$28,157,792
98$61,097,837$3,515,712$714,573$30,870,294
99$67,242,465$3,600,631$651,161$33,856,475
100$74,011,095$3,686,960$582,873$37,144,230