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%15.4%
1 years$85,882$85,117$84,371$83,642$82,931$81,091
2 years$42,516$41,724$40,957$40,213$39,491$37,647
3 years$28,062$27,267$26,502$25,765$25,055$23,264
4 years$20,837$20,044$19,286$18,562$17,869$16,145
5 years$16,503$15,715$14,967$14,257$13,584$11,932
6 years$13,615$12,832$12,096$11,402$10,748$9,171
7 years$11,552$10,777$10,052$9,374$8,741$7,237
8 years$10,006$9,238$8,524$7,864$7,252$5,821
9 years$8,804$8,043$7,342$6,698$6,107$4,749
10 years$7,843$7,089$6,401$5,774$5,204$3,917
11 years$7,058$6,311$5,635$5,025$4,475$3,258
12 years$6,403$5,665$5,001$4,408$3,878$2,728
13 years$5,850$5,119$4,468$3,891$3,382$2,297
14 years$5,376$4,653$4,015$3,454$2,964$1,943
15 years$4,966$4,251$3,625$3,081$2,610$1,649
16 years$4,608$3,900$3,286$2,758$2,307$1,404
17 years$4,292$3,592$2,991$2,478$2,045$1,199
18 years$4,011$3,319$2,730$2,233$1,819$1,026
19 years$3,760$3,076$2,499$2,018$1,621$879
20 years$3,535$2,858$2,294$1,828$1,448$755
21 years$3,331$2,662$2,110$1,659$1,296$649
22 years$3,146$2,485$1,944$1,508$1,161$558
23 years$2,977$2,324$1,795$1,374$1,043$481
24 years$2,823$2,178$1,660$1,253$937$415
25 years$2,681$2,044$1,538$1,144$843$358
26 years$2,551$1,921$1,426$1,046$760$309
27 years$2,430$1,808$1,324$958$685$267
28 years$2,318$1,703$1,231$877$618$231
29 years$2,214$1,607$1,146$805$558$199
30 years$2,117$1,518$1,067$738$504$172
31 years$2,027$1,435$995$678$456$149
32 years$1,942$1,357$928$623$412$129
33 years$1,862$1,286$867$573$373$112
34 years$1,788$1,218$810$527$338$97
35 years$1,718$1,156$757$485$306$84
36 years$1,652$1,097$708$447$277$72
37 years$1,589$1,042$663$412$251$63
38 years$1,530$990$621$380$228$54
39 years$1,475$941$582$350$207$47
40 years$1,422$896$545$323$187$41
41 years$1,372$853$511$298$170$35
42 years$1,324$812$480$275$154$31
43 years$1,279$774$450$254$140$26
44 years$1,236$738$422$234$127$23
45 years$1,195$703$397$216$115$20
46 years$1,155$671$372$200$105$17
47 years$1,118$640$350$185$95$15
48 years$1,082$611$329$171$86$13
49 years$1,048$584$309$158$78$11
50 years$1,015$558$291$146$71$10

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 $5,775 every year, while hoping to spend $21,494 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: 43/37/20 Blend
53$1,040,000$1,040,000$1,040,000$1,040,000
54$1,152,037$1,096,917$1,080,797$1,194,642
55$1,246,675$1,127,796$1,094,134$1,256,210
56$1,350,246$1,159,469$1,107,198$1,320,330
57$1,463,638$1,191,950$1,119,956$1,389,357
58$1,587,830$1,225,256$1,132,375$1,463,754
59$1,723,899$1,259,403$1,144,420$1,544,029
60$1,873,031$1,294,408$1,156,052$1,630,744
61$2,036,533$1,330,288$1,167,233$1,724,515
62$2,215,845$1,367,057$1,177,921$1,826,024
63$2,412,552$1,404,733$1,188,072$1,936,019
64$2,628,399$1,443,333$1,197,639$2,055,323
65$2,865,311$1,482,871$1,206,575$2,184,844
66$3,125,405$1,523,364$1,214,828$2,325,582
67$3,411,016$1,564,828$1,222,344$2,478,638
68$3,724,713$1,607,279$1,229,066$2,645,225
69$4,069,330$1,650,731$1,234,936$2,826,677
70$4,447,985$1,695,201$1,239,890$3,024,467
71$4,864,117$1,740,702$1,243,863$3,240,216
72$5,321,510$1,787,250$1,246,786$3,475,708
73$5,824,337$1,834,858$1,248,586$3,732,912
74$6,377,193$1,883,540$1,249,188$4,013,994
75$6,985,142$1,933,309$1,248,511$4,321,343
76$7,653,763$1,984,177$1,246,472$4,657,590
77$8,389,201$2,036,156$1,242,983$5,025,633
78$9,198,228$2,089,257$1,237,952$5,428,666
79$10,088,306$2,143,489$1,231,282$5,870,210
80$11,067,656$2,198,862$1,222,872$6,354,142
81$12,145,335$2,255,385$1,212,617$6,884,737
82$13,331,323$2,313,063$1,200,404$7,466,703
83$14,636,619$2,371,904$1,186,118$8,105,229
84$16,073,337$2,431,910$1,169,636$8,806,034
85$17,654,830$2,493,087$1,150,832$9,575,420
86$19,395,809$2,555,434$1,129,571$10,420,330
87$21,312,484$2,618,952$1,105,713$11,348,417
88$23,422,716$2,683,640$1,079,113$12,368,113
89$25,746,186$2,749,492$1,049,617$13,488,713
90$28,304,583$2,816,503$1,017,066$14,720,458
91$31,121,804$2,884,664$981,290$16,074,633
92$34,224,181$2,953,966$942,116$17,563,677
93$37,640,730$3,024,393$899,360$19,201,297
94$41,403,427$3,095,931$852,831$21,002,597
95$45,547,504$3,168,559$802,329$22,984,226
96$50,111,786$3,242,255$747,643$25,164,528
97$55,139,056$3,316,993$688,557$27,563,722
98$60,676,457$3,392,743$624,841$30,204,087
99$66,775,940$3,469,471$556,257$33,110,180
100$73,494,750$3,547,140$482,556$36,309,060