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

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$88,360$87,573$86,805$86,055$85,323$84,821
2 years$43,742$42,928$42,138$41,373$40,630$40,124
3 years$28,872$28,054$27,266$26,508$25,777$25,282
4 years$21,438$20,622$19,843$19,097$18,385$17,904
5 years$16,979$16,168$15,399$14,669$13,976$13,512
6 years$14,007$13,203$12,445$11,731$11,059$10,612
7 years$11,885$11,088$10,341$9,644$8,994$8,564
8 years$10,295$9,504$8,770$8,090$7,461$7,049
9 years$9,058$8,275$7,554$6,891$6,283$5,888
10 years$8,070$7,294$6,586$5,940$5,354$4,976
11 years$7,261$6,493$5,798$5,170$4,604$4,243
12 years$6,588$5,828$5,146$4,535$3,990$3,645
13 years$6,019$5,267$4,597$4,003$3,479$3,151
14 years$5,531$4,788$4,131$3,554$3,050$2,737
15 years$5,109$4,373$3,729$3,169$2,685$2,388
16 years$4,741$4,013$3,381$2,838$2,373$2,090
17 years$4,415$3,695$3,077$2,550$2,104$1,836
18 years$4,127$3,415$2,809$2,298$1,871$1,617
19 years$3,869$3,165$2,571$2,076$1,668$1,427
20 years$3,637$2,941$2,360$1,880$1,490$1,262
21 years$3,427$2,739$2,171$1,707$1,333$1,118
22 years$3,237$2,557$2,000$1,552$1,195$992
23 years$3,063$2,392$1,847$1,413$1,073$881
24 years$2,904$2,241$1,708$1,289$964$783
25 years$2,759$2,103$1,582$1,177$868$697
26 years$2,624$1,976$1,467$1,076$781$622
27 years$2,500$1,860$1,363$985$705$554
28 years$2,385$1,753$1,267$903$636$495
29 years$2,278$1,653$1,179$828$574$442
30 years$2,178$1,561$1,098$760$519$395
31 years$2,085$1,476$1,024$698$469$353
32 years$1,998$1,397$955$641$424$316
33 years$1,916$1,323$892$590$384$282
34 years$1,840$1,254$833$543$348$253
35 years$1,767$1,189$779$499$315$226
36 years$1,699$1,129$729$460$285$203
37 years$1,635$1,072$682$424$259$181
38 years$1,575$1,019$639$391$234$163
39 years$1,517$969$598$360$213$146
40 years$1,463$922$561$332$193$131
41 years$1,411$877$526$306$175$117
42 years$1,362$835$493$283$159$105
43 years$1,316$796$463$261$144$94
44 years$1,271$759$435$241$131$84
45 years$1,229$724$408$223$119$76
46 years$1,189$690$383$206$108$68
47 years$1,150$659$360$190$98$61
48 years$1,113$629$338$176$89$55
49 years$1,078$600$318$162$81$49
50 years$1,045$574$299$150$73$44

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 $2,191 every year, while hoping to spend $30,122 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: 58/19/23 Blend
53$1,070,000$1,070,000$1,070,000$1,070,000
54$1,181,400$1,124,690$1,108,105$1,242,496
55$1,269,853$1,147,750$1,113,177$1,307,447
56$1,366,319$1,170,931$1,117,409$1,374,807
57$1,471,583$1,194,206$1,120,742$1,447,598
58$1,586,510$1,217,547$1,123,112$1,526,352
59$1,712,051$1,240,925$1,124,454$1,611,656
60$1,849,255$1,264,304$1,124,697$1,704,155
61$1,999,275$1,287,651$1,123,770$1,804,565
62$2,163,380$1,310,925$1,121,596$1,913,669
63$2,342,970$1,334,086$1,118,095$2,032,335
64$2,539,584$1,357,087$1,113,182$2,161,518
65$2,754,918$1,379,881$1,106,770$2,302,272
66$2,990,840$1,402,415$1,098,767$2,455,757
67$3,249,406$1,424,633$1,089,076$2,623,255
68$3,532,880$1,446,476$1,077,595$2,806,176
69$3,843,759$1,467,877$1,064,219$3,006,078
70$4,184,788$1,488,769$1,048,836$3,224,677
71$4,558,994$1,509,077$1,031,330$3,463,863
72$4,969,712$1,528,722$1,011,580$3,725,725
73$5,420,612$1,547,619$989,458$4,012,560
74$5,915,740$1,565,678$964,830$4,326,905
75$6,459,551$1,582,801$937,557$4,671,556
76$7,056,953$1,598,887$907,493$5,049,595
77$7,713,354$1,613,824$874,486$5,464,419
78$8,434,711$1,627,496$838,376$5,919,774
79$9,227,586$1,639,777$798,996$6,419,792
80$10,099,208$1,650,536$756,171$6,969,025
81$11,057,544$1,659,629$709,720$7,572,493
82$12,111,370$1,666,906$659,451$8,235,729
83$13,270,353$1,672,208$605,166$8,964,835
84$14,545,146$1,675,364$546,656$9,766,536
85$15,947,487$1,676,192$483,705$10,648,247
86$17,490,306$1,674,502$416,085$11,618,140
87$19,187,853$1,670,088$343,560$12,685,226
88$21,055,826$1,662,734$265,881$13,859,436
89$23,111,523$1,652,210$182,790$15,151,721
90$25,374,003$1,638,273$94,018$16,574,149
91$27,864,266$1,620,664$0$18,140,025
92$30,605,453$1,599,108$0$19,864,191
93$33,623,061$1,573,316$0$21,787,270
94$36,945,184$1,542,979$0$23,904,062
95$40,602,780$1,507,772$0$26,234,287
96$44,629,959$1,467,349$0$28,799,679
97$49,064,311$1,421,345$0$31,624,188
98$53,947,252$1,369,372$0$34,734,210
99$59,324,423$1,311,022$0$38,158,834
100$65,246,113$1,245,861$0$41,930,116