Can I retire at age 54 with 1,050,000?

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 $1,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$86,708$85,936$85,182$84,447$83,728$80,694
2 years$42,925$42,125$41,351$40,599$39,871$36,846
3 years$28,332$27,529$26,757$26,012$25,296$22,377
4 years$21,037$20,237$19,472$18,740$18,041$15,250
5 years$16,662$15,866$15,111$14,394$13,715$11,059
6 years$13,745$12,956$12,212$11,511$10,852$8,334
7 years$11,663$10,880$10,148$9,464$8,825$6,444
8 years$10,102$9,326$8,606$7,939$7,322$5,074
9 years$8,889$8,120$7,413$6,762$6,166$4,050
10 years$7,919$7,158$6,463$5,829$5,254$3,266
11 years$7,125$6,372$5,690$5,073$4,518$2,654
12 years$6,465$5,719$5,049$4,450$3,915$2,170
13 years$5,906$5,168$4,511$3,929$3,414$1,784
14 years$5,428$4,698$4,053$3,487$2,993$1,471
15 years$5,014$4,292$3,660$3,110$2,635$1,218
16 years$4,652$3,938$3,318$2,785$2,329$1,011
17 years$4,333$3,626$3,019$2,502$2,065$840
18 years$4,049$3,351$2,756$2,255$1,836$700
19 years$3,796$3,106$2,523$2,037$1,637$584
20 years$3,569$2,886$2,316$1,845$1,462$488
21 years$3,363$2,688$2,130$1,675$1,308$408
22 years$3,176$2,509$1,963$1,523$1,173$341
23 years$3,006$2,347$1,813$1,387$1,053$286
24 years$2,850$2,199$1,676$1,265$946$239
25 years$2,707$2,063$1,553$1,155$851$201
26 years$2,575$1,939$1,440$1,056$767$168
27 years$2,453$1,825$1,337$967$691$141
28 years$2,340$1,720$1,243$886$624$118
29 years$2,235$1,622$1,157$812$563$99
30 years$2,137$1,532$1,077$745$509$83
31 years$2,046$1,448$1,004$685$460$70
32 years$1,961$1,371$937$629$416$59
33 years$1,880$1,298$875$579$377$49
34 years$1,805$1,230$818$532$341$42
35 years$1,734$1,167$764$490$309$35
36 years$1,668$1,107$715$451$280$29
37 years$1,605$1,052$669$416$254$25
38 years$1,545$1,000$627$383$230$21
39 years$1,489$951$587$353$209$17
40 years$1,436$904$550$326$189$15
41 years$1,385$861$516$301$172$12
42 years$1,337$820$484$278$156$10
43 years$1,291$781$454$256$141$9
44 years$1,248$745$426$237$128$7
45 years$1,206$710$400$218$116$6
46 years$1,167$677$376$202$106$5
47 years$1,129$646$353$186$96$4
48 years$1,093$617$332$172$87$4
49 years$1,058$589$312$159$79$3
50 years$1,025$563$293$147$72$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,050,000, adding $3,961 every year, while hoping to spend $57,368 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: 38/48/14 Blend
53$1,050,000$1,050,000$1,050,000$1,050,000
54$1,161,186$1,105,536$1,089,261$1,200,249
55$1,218,588$1,098,668$1,064,712$1,221,638
56$1,279,922$1,089,541$1,037,418$1,238,906
57$1,345,529$1,077,983$1,007,226$1,256,325
58$1,415,782$1,063,813$973,977$1,273,935
59$1,491,090$1,046,839$937,505$1,291,789
60$1,571,904$1,026,856$897,633$1,309,945
61$1,658,715$1,003,649$854,181$1,328,476
62$1,752,065$976,989$806,957$1,347,466
63$1,852,547$946,634$755,762$1,367,012
64$1,960,815$912,327$700,388$1,387,229
65$2,077,584$873,797$640,617$1,408,248
66$2,203,642$830,757$576,222$1,430,223
67$2,339,853$782,904$506,965$1,453,328
68$2,487,168$729,916$432,598$1,477,764
69$2,646,632$671,454$352,863$1,503,760
70$2,819,393$607,160$267,488$1,531,578
71$3,006,713$536,654$176,192$1,561,515
72$3,209,983$459,534$78,679$1,593,907
73$3,430,728$375,379$0$1,629,137
74$3,670,629$283,739$0$1,671,429
75$3,931,534$184,143$0$1,730,268
76$4,215,476$76,092$0$1,794,487
77$4,524,692$0$0$1,864,759
78$4,861,645$0$0$1,963,459
79$5,229,042$0$0$2,115,030
80$5,629,867$0$0$2,280,527
81$6,067,401$0$0$2,461,322
82$6,545,257$0$0$2,658,926
83$7,067,412$0$0$2,875,002
84$7,638,245$0$0$3,111,380
85$8,262,577$0$0$3,370,078
86$8,945,715$0$0$3,653,316
87$9,693,504$0$0$3,963,537
88$10,512,381$0$0$4,303,435
89$11,409,433$0$0$4,675,974
90$12,392,464$0$0$5,084,421
91$13,470,072$0$0$5,532,371
92$14,651,724$0$0$6,023,786
93$15,947,846$0$0$6,563,029
94$17,369,926$0$0$7,154,908
95$18,930,612$0$0$7,804,715
96$20,643,840$0$0$8,518,282
97$22,524,960$0$0$9,302,034
98$24,590,881$0$0$10,163,048
99$26,860,230$0$0$11,109,120
100$29,353,527$0$0$12,148,838