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

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 $1,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$86,708$85,936$85,182$84,447$83,728$81,081
2 years$42,925$42,125$41,351$40,599$39,871$37,227
3 years$28,332$27,529$26,757$26,012$25,296$22,739
4 years$21,037$20,237$19,472$18,740$18,041$15,591
5 years$16,662$15,866$15,111$14,394$13,715$11,378
6 years$13,745$12,956$12,212$11,511$10,852$8,631
7 years$11,663$10,880$10,148$9,464$8,825$6,719
8 years$10,102$9,326$8,606$7,939$7,322$5,329
9 years$8,889$8,120$7,413$6,762$6,166$4,285
10 years$7,919$7,158$6,463$5,829$5,254$3,481
11 years$7,125$6,372$5,690$5,073$4,518$2,851
12 years$6,465$5,719$5,049$4,450$3,915$2,350
13 years$5,906$5,168$4,511$3,929$3,414$1,947
14 years$5,428$4,698$4,053$3,487$2,993$1,620
15 years$5,014$4,292$3,660$3,110$2,635$1,352
16 years$4,652$3,938$3,318$2,785$2,329$1,132
17 years$4,333$3,626$3,019$2,502$2,065$950
18 years$4,049$3,351$2,756$2,255$1,836$798
19 years$3,796$3,106$2,523$2,037$1,637$672
20 years$3,569$2,886$2,316$1,845$1,462$566
21 years$3,363$2,688$2,130$1,675$1,308$478
22 years$3,176$2,509$1,963$1,523$1,173$404
23 years$3,006$2,347$1,813$1,387$1,053$341
24 years$2,850$2,199$1,676$1,265$946$289
25 years$2,707$2,063$1,553$1,155$851$244
26 years$2,575$1,939$1,440$1,056$767$207
27 years$2,453$1,825$1,337$967$691$175
28 years$2,340$1,720$1,243$886$624$148
29 years$2,235$1,622$1,157$812$563$126
30 years$2,137$1,532$1,077$745$509$107
31 years$2,046$1,448$1,004$685$460$90
32 years$1,961$1,371$937$629$416$77
33 years$1,880$1,298$875$579$377$65
34 years$1,805$1,230$818$532$341$55
35 years$1,734$1,167$764$490$309$47
36 years$1,668$1,107$715$451$280$40
37 years$1,605$1,052$669$416$254$34
38 years$1,545$1,000$627$383$230$29
39 years$1,489$951$587$353$209$24
40 years$1,436$904$550$326$189$21
41 years$1,385$861$516$301$172$17
42 years$1,337$820$484$278$156$15
43 years$1,291$781$454$256$141$13
44 years$1,248$745$426$237$128$11
45 years$1,206$710$400$218$116$9
46 years$1,167$677$376$202$106$8
47 years$1,129$646$353$186$96$7
48 years$1,093$617$332$172$87$6
49 years$1,058$589$312$159$79$5
50 years$1,025$563$293$147$72$4

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 $2,652 every year, while hoping to spend $24,193 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: 27/45/28 Blend
53$1,050,000$1,050,000$1,050,000$1,050,000
54$1,159,836$1,104,186$1,087,911$1,180,986
55$1,252,398$1,132,549$1,098,614$1,226,693
56$1,353,590$1,161,492$1,108,866$1,273,479
57$1,464,268$1,191,017$1,118,625$1,323,221
58$1,585,372$1,221,126$1,127,847$1,376,186
59$1,717,939$1,251,820$1,136,489$1,432,673
60$1,863,110$1,283,100$1,144,503$1,493,006
61$2,022,141$1,314,966$1,151,838$1,557,545
62$2,196,417$1,347,417$1,158,442$1,626,686
63$2,387,462$1,380,450$1,164,259$1,700,866
64$2,596,954$1,414,063$1,169,233$1,780,565
65$2,826,742$1,448,251$1,173,301$1,866,316
66$3,078,863$1,483,009$1,176,400$1,958,701
67$3,355,559$1,518,329$1,178,462$2,058,366
68$3,659,303$1,554,203$1,179,417$2,166,022
69$3,992,814$1,590,622$1,179,190$2,282,453
70$4,359,092$1,627,574$1,177,704$2,408,522
71$4,761,440$1,665,045$1,174,877$2,545,182
72$5,203,495$1,703,020$1,170,624$2,693,485
73$5,689,265$1,741,482$1,164,854$2,854,589
74$6,223,168$1,780,412$1,157,474$3,029,771
75$6,810,067$1,819,788$1,148,385$3,220,440
76$7,455,321$1,859,586$1,137,483$3,428,150
77$8,164,837$1,899,778$1,124,662$3,654,613
78$8,945,118$1,940,335$1,109,806$3,901,719
79$9,803,334$1,981,225$1,092,798$4,171,551
80$10,747,381$2,022,412$1,073,514$4,466,405
81$11,785,960$2,063,857$1,051,823$4,788,814
82$12,928,658$2,105,516$1,027,589$5,141,572
83$14,186,038$2,147,343$1,000,670$5,527,758
84$15,569,738$2,189,287$970,917$5,950,768
85$17,092,583$2,231,293$938,174$6,414,347
86$18,768,701$2,273,302$902,278$6,922,623
87$20,613,663$2,315,248$863,059$7,480,150
88$22,644,624$2,357,063$820,338$8,091,947
89$24,880,486$2,398,669$773,930$8,763,549
90$27,342,079$2,439,987$723,640$9,501,060
91$30,052,353$2,480,929$669,264$10,311,207
92$33,036,599$2,521,400$610,590$11,201,411
93$36,322,684$2,561,300$547,396$12,179,851
94$39,941,314$2,600,520$479,451$13,255,546
95$43,926,326$2,638,944$406,511$14,438,437
96$48,315,007$2,676,447$328,324$15,739,488
97$53,148,440$2,712,896$244,626$17,170,784
98$58,471,901$2,748,148$155,141$18,745,648
99$64,335,279$2,782,051$59,581$20,478,769
100$70,793,546$2,814,441$0$22,386,341