Can I retire at age 54 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$87,534$86,754$85,993$85,251$84,526$81,886
2 years$43,334$42,527$41,744$40,986$40,250$37,614
3 years$28,602$27,792$27,011$26,260$25,537$22,987
4 years$21,238$20,430$19,657$18,919$18,213$15,769
5 years$16,820$16,017$15,255$14,532$13,845$11,514
6 years$13,876$13,079$12,328$11,621$10,955$8,738
7 years$11,774$10,984$10,245$9,554$8,909$6,807
8 years$10,199$9,415$8,688$8,015$7,391$5,402
9 years$8,974$8,198$7,483$6,827$6,225$4,346
10 years$7,994$7,226$6,524$5,885$5,304$3,533
11 years$7,193$6,433$5,744$5,122$4,561$2,896
12 years$6,526$5,774$5,097$4,492$3,953$2,388
13 years$5,963$5,218$4,554$3,966$3,447$1,980
14 years$5,480$4,743$4,092$3,521$3,021$1,649
15 years$5,062$4,333$3,695$3,140$2,660$1,377
16 years$4,696$3,975$3,350$2,811$2,351$1,153
17 years$4,374$3,661$3,048$2,526$2,085$968
18 years$4,088$3,383$2,782$2,276$1,854$815
19 years$3,832$3,135$2,547$2,057$1,652$686
20 years$3,603$2,913$2,338$1,863$1,476$579
21 years$3,395$2,714$2,150$1,691$1,321$489
22 years$3,206$2,533$1,982$1,537$1,184$413
23 years$3,035$2,369$1,830$1,400$1,063$350
24 years$2,877$2,220$1,692$1,277$955$296
25 years$2,733$2,083$1,567$1,166$859$251
26 years$2,600$1,958$1,454$1,066$774$212
27 years$2,477$1,843$1,350$976$698$180
28 years$2,363$1,736$1,255$894$630$153
29 years$2,256$1,638$1,168$820$569$130
30 years$2,158$1,547$1,088$753$514$110
31 years$2,065$1,462$1,014$691$465$93
32 years$1,979$1,384$946$635$420$79
33 years$1,898$1,310$883$584$380$67
34 years$1,822$1,242$825$537$344$57
35 years$1,751$1,178$772$495$312$48
36 years$1,684$1,118$722$456$283$41
37 years$1,620$1,062$676$420$256$35
38 years$1,560$1,009$633$387$232$30
39 years$1,503$960$593$357$211$25
40 years$1,449$913$556$329$191$21
41 years$1,398$869$521$304$173$18
42 years$1,350$828$489$280$157$15
43 years$1,303$789$459$259$143$13
44 years$1,259$752$430$239$130$11
45 years$1,218$717$404$221$118$9
46 years$1,178$684$380$204$107$8
47 years$1,140$653$357$188$97$7
48 years$1,103$623$335$174$88$6
49 years$1,068$595$315$161$80$5
50 years$1,035$568$296$149$73$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,060,000, adding $6,277 every year, while hoping to spend $59,479 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: 58/32/10 Blend
53$1,060,000$1,060,000$1,060,000$1,060,000
54$1,174,595$1,118,415$1,101,985$1,239,567
55$1,231,118$1,109,932$1,075,616$1,275,577
56$1,291,414$1,099,040$1,046,370$1,307,592
57$1,355,803$1,085,558$1,014,089$1,341,046
58$1,424,639$1,069,294$978,605$1,376,082
59$1,498,308$1,050,046$939,744$1,412,862
60$1,577,235$1,027,597$897,325$1,451,566
61$1,661,884$1,001,721$851,157$1,492,395
62$1,752,767$972,176$801,041$1,535,574
63$1,850,442$938,706$746,769$1,581,354
64$1,955,526$901,041$688,125$1,630,014
65$2,068,693$858,895$624,880$1,681,868
66$2,190,684$811,966$556,798$1,737,264
67$2,322,315$759,933$483,632$1,796,588
68$2,464,480$702,458$405,122$1,860,273
69$2,618,162$639,184$320,999$1,928,800
70$2,784,442$569,732$230,981$2,002,703
71$2,964,509$493,702$134,772$2,082,578
72$3,159,668$410,673$32,066$2,169,086
73$3,371,356$320,198$0$2,262,962
74$3,601,152$221,805$0$2,373,298
75$3,850,794$114,998$0$2,496,915
76$4,122,193$0$0$2,631,435
77$4,417,450$0$0$2,778,278
78$4,738,880$0$0$2,982,300
79$5,089,028$0$0$3,204,632
80$5,470,694$0$0$3,447,064
81$5,886,961$0$0$3,711,564
82$6,341,223$0$0$4,000,299
83$6,837,214$0$0$4,315,654
84$7,379,046$0$0$4,660,257
85$7,971,244$0$0$5,036,998
86$8,618,792$0$0$5,449,061
87$9,327,176$0$0$5,899,950
88$10,102,436$0$0$6,393,525
89$10,951,226$0$0$6,934,036
90$11,880,870$0$0$7,526,163
91$12,899,436$0$0$8,175,059
92$14,015,807$0$0$8,886,402
93$15,239,767$0$0$9,666,442
94$16,582,093$0$0$10,522,066
95$18,054,654$0$0$11,460,857
96$19,670,524$0$0$12,491,169
97$21,444,103$0$0$13,622,204
98$23,391,254$0$0$14,864,099
99$25,529,449$0$0$16,228,018
100$27,877,937$0$0$17,726,262