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

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 $1,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$85,882$85,117$84,371$83,642$82,931$80,959
2 years$42,516$41,724$40,957$40,213$39,491$37,516
3 years$28,062$27,267$26,502$25,765$25,055$23,138
4 years$20,837$20,044$19,286$18,562$17,869$16,026
5 years$16,503$15,715$14,967$14,257$13,584$11,819
6 years$13,615$12,832$12,096$11,402$10,748$9,064
7 years$11,552$10,777$10,052$9,374$8,741$7,137
8 years$10,006$9,238$8,524$7,864$7,252$5,727
9 years$8,804$8,043$7,342$6,698$6,107$4,661
10 years$7,843$7,089$6,401$5,774$5,204$3,834
11 years$7,058$6,311$5,635$5,025$4,475$3,181
12 years$6,403$5,665$5,001$4,408$3,878$2,657
13 years$5,850$5,119$4,468$3,891$3,382$2,231
14 years$5,376$4,653$4,015$3,454$2,964$1,882
15 years$4,966$4,251$3,625$3,081$2,610$1,593
16 years$4,608$3,900$3,286$2,758$2,307$1,353
17 years$4,292$3,592$2,991$2,478$2,045$1,152
18 years$4,011$3,319$2,730$2,233$1,819$982
19 years$3,760$3,076$2,499$2,018$1,621$840
20 years$3,535$2,858$2,294$1,828$1,448$719
21 years$3,331$2,662$2,110$1,659$1,296$616
22 years$3,146$2,485$1,944$1,508$1,161$528
23 years$2,977$2,324$1,795$1,374$1,043$454
24 years$2,823$2,178$1,660$1,253$937$390
25 years$2,681$2,044$1,538$1,144$843$335
26 years$2,551$1,921$1,426$1,046$760$289
27 years$2,430$1,808$1,324$958$685$248
28 years$2,318$1,703$1,231$877$618$214
29 years$2,214$1,607$1,146$805$558$184
30 years$2,117$1,518$1,067$738$504$159
31 years$2,027$1,435$995$678$456$137
32 years$1,942$1,357$928$623$412$118
33 years$1,862$1,286$867$573$373$102
34 years$1,788$1,218$810$527$338$88
35 years$1,718$1,156$757$485$306$76
36 years$1,652$1,097$708$447$277$65
37 years$1,589$1,042$663$412$251$56
38 years$1,530$990$621$380$228$49
39 years$1,475$941$582$350$207$42
40 years$1,422$896$545$323$187$36
41 years$1,372$853$511$298$170$31
42 years$1,324$812$480$275$154$27
43 years$1,279$774$450$254$140$23
44 years$1,236$738$422$234$127$20
45 years$1,195$703$397$216$115$17
46 years$1,155$671$372$200$105$15
47 years$1,118$640$350$185$95$13
48 years$1,082$611$329$171$86$11
49 years$1,048$584$309$158$78$10
50 years$1,015$558$291$146$71$8

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 $5,068 every year, while hoping to spend $41,669 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: 71/24/5 Blend
53$1,040,000$1,040,000$1,040,000$1,040,000
54$1,151,308$1,096,188$1,080,068$1,232,146
55$1,224,406$1,105,565$1,071,914$1,295,534
56$1,303,563$1,114,006$1,062,091$1,359,206
57$1,389,354$1,121,420$1,050,499$1,427,721
58$1,482,409$1,127,711$1,037,032$1,501,545
59$1,583,424$1,132,777$1,021,581$1,581,190
60$1,693,160$1,136,511$1,004,032$1,667,219
61$1,812,460$1,138,797$984,264$1,760,255
62$1,942,245$1,139,512$962,151$1,860,984
63$2,083,534$1,138,528$937,563$1,970,161
64$2,237,444$1,135,706$910,361$2,088,621
65$2,405,206$1,130,898$880,401$2,217,282
66$2,588,176$1,123,952$847,534$2,357,157
67$2,787,845$1,114,700$811,601$2,509,365
68$3,005,854$1,102,968$772,438$2,675,136
69$3,244,009$1,088,572$729,873$2,855,829
70$3,504,300$1,071,315$683,726$3,052,941
71$3,788,917$1,050,988$633,809$3,268,126
72$4,100,272$1,027,371$579,927$3,503,202
73$4,441,018$1,000,230$521,873$3,760,179
74$4,814,080$969,320$459,433$4,041,271
75$5,222,676$934,377$392,385$4,348,919
76$5,670,352$895,124$320,493$4,685,816
77$6,161,013$851,270$243,514$5,054,930
78$6,698,958$802,504$161,194$5,459,535
79$7,288,924$748,499$73,266$5,903,241
80$7,936,126$688,907$0$6,390,026
81$8,646,310$623,363$0$6,925,378
82$9,425,806$551,480$0$7,517,280
83$10,281,583$472,847$0$8,167,171
84$11,221,321$387,033$0$8,880,951
85$12,253,480$293,582$0$9,665,122
86$13,387,377$192,010$0$10,526,856
87$14,633,280$81,809$0$11,474,055
88$16,002,497$0$0$12,515,435
89$17,507,488$0$0$13,670,518
90$19,161,979$0$0$14,964,153
91$20,981,093$0$0$16,386,564
92$22,981,491$0$0$17,950,788
93$25,181,530$0$0$19,671,185
94$27,601,435$0$0$21,563,580
95$30,263,489$0$0$23,645,405
96$33,192,243$0$0$25,935,871
97$36,414,750$0$0$28,456,141
98$39,960,815$0$0$31,229,535
99$43,863,279$0$0$34,281,748
100$48,158,327$0$0$37,641,090