Can I retire at age 54 with 1,070,000?

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$88,360$87,573$86,805$86,055$85,323$83,738
2 years$43,742$42,928$42,138$41,373$40,630$39,039
3 years$28,872$28,054$27,266$26,508$25,777$24,229
4 years$21,438$20,622$19,843$19,097$18,385$16,892
5 years$16,979$16,168$15,399$14,669$13,976$12,543
6 years$14,007$13,203$12,445$11,731$11,059$9,687
7 years$11,885$11,088$10,341$9,644$8,994$7,684
8 years$10,295$9,504$8,770$8,090$7,461$6,213
9 years$9,058$8,275$7,554$6,891$6,283$5,096
10 years$8,070$7,294$6,586$5,940$5,354$4,226
11 years$7,261$6,493$5,798$5,170$4,604$3,535
12 years$6,588$5,828$5,146$4,535$3,990$2,978
13 years$6,019$5,267$4,597$4,003$3,479$2,522
14 years$5,531$4,788$4,131$3,554$3,050$2,146
15 years$5,109$4,373$3,729$3,169$2,685$1,834
16 years$4,741$4,013$3,381$2,838$2,373$1,571
17 years$4,415$3,695$3,077$2,550$2,104$1,350
18 years$4,127$3,415$2,809$2,298$1,871$1,163
19 years$3,869$3,165$2,571$2,076$1,668$1,003
20 years$3,637$2,941$2,360$1,880$1,490$867
21 years$3,427$2,739$2,171$1,707$1,333$751
22 years$3,237$2,557$2,000$1,552$1,195$650
23 years$3,063$2,392$1,847$1,413$1,073$564
24 years$2,904$2,241$1,708$1,289$964$490
25 years$2,759$2,103$1,582$1,177$868$426
26 years$2,624$1,976$1,467$1,076$781$370
27 years$2,500$1,860$1,363$985$705$322
28 years$2,385$1,753$1,267$903$636$280
29 years$2,278$1,653$1,179$828$574$244
30 years$2,178$1,561$1,098$760$519$213
31 years$2,085$1,476$1,024$698$469$185
32 years$1,998$1,397$955$641$424$162
33 years$1,916$1,323$892$590$384$141
34 years$1,840$1,254$833$543$348$123
35 years$1,767$1,189$779$499$315$107
36 years$1,699$1,129$729$460$285$93
37 years$1,635$1,072$682$424$259$82
38 years$1,575$1,019$639$391$234$71
39 years$1,517$969$598$360$213$62
40 years$1,463$922$561$332$193$54
41 years$1,411$877$526$306$175$47
42 years$1,362$835$493$283$159$41
43 years$1,316$796$463$261$144$36
44 years$1,271$759$435$241$131$31
45 years$1,229$724$408$223$119$27
46 years$1,189$690$383$206$108$24
47 years$1,150$659$360$190$98$21
48 years$1,113$629$338$176$89$18
49 years$1,078$600$318$162$81$16
50 years$1,045$574$299$150$73$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,070,000, adding $6,449 every year, while hoping to spend $59,941 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: 40/30/30 Blend
53$1,070,000$1,070,000$1,070,000$1,070,000
54$1,185,792$1,129,082$1,112,497$1,222,513
55$1,242,966$1,120,630$1,085,989$1,241,453
56$1,303,963$1,109,756$1,056,584$1,255,933
57$1,369,109$1,096,276$1,024,122$1,270,478
58$1,438,763$1,079,998$988,434$1,285,134
59$1,513,316$1,060,717$949,346$1,299,955
60$1,593,200$1,038,218$906,675$1,315,006
61$1,678,886$1,012,270$860,228$1,330,363
62$1,770,892$982,630$809,805$1,346,117
63$1,869,786$949,043$755,197$1,362,372
64$1,976,193$911,235$696,185$1,379,250
65$2,090,797$868,918$632,540$1,396,892
66$2,214,352$821,788$564,023$1,415,459
67$2,347,684$769,524$490,386$1,435,138
68$2,491,701$711,783$411,367$1,456,141
69$2,647,401$648,207$326,694$1,478,710
70$2,815,881$578,414$236,083$1,503,122
71$2,998,346$502,003$139,238$1,529,689
72$3,196,124$418,547$35,849$1,558,766
73$3,410,671$327,599$0$1,590,755
74$3,643,592$228,683$0$1,649,952
75$3,896,648$121,299$0$1,726,820
76$4,171,781$4,917$0$1,810,560
77$4,471,124$0$0$1,901,936
78$4,797,026$0$0$2,041,747
79$5,152,069$0$0$2,195,958
80$5,539,098$0$0$2,364,195
81$5,961,242$0$0$2,547,837
82$6,421,945$0$0$2,748,399
83$6,924,999$0$0$2,967,549
84$7,474,576$0$0$3,207,126
85$8,075,272$0$0$3,469,151
86$8,732,145$0$0$3,755,852
87$9,450,764$0$0$4,069,681
88$10,237,263$0$0$4,413,339
89$11,098,394$0$0$4,789,800
90$12,041,594$0$0$5,202,337
91$13,075,052$0$0$5,654,559
92$14,207,787$0$0$6,150,438
93$15,449,732$0$0$6,694,348
94$16,811,827$0$0$7,291,109
95$18,306,121$0$0$7,946,028
96$19,945,888$0$0$8,664,953
97$21,745,746$0$0$9,454,324
98$23,721,798$0$0$10,321,235
99$25,891,785$0$0$11,273,502
100$28,275,246$0$0$12,319,734