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%13.8%
1 years$88,360$87,573$86,805$86,055$85,323$83,979
2 years$43,742$42,928$42,138$41,373$40,630$39,279
3 years$28,872$28,054$27,266$26,508$25,777$24,462
4 years$21,438$20,622$19,843$19,097$18,385$17,115
5 years$16,979$16,168$15,399$14,669$13,976$12,755
6 years$14,007$13,203$12,445$11,731$11,059$9,889
7 years$11,885$11,088$10,341$9,644$8,994$7,875
8 years$10,295$9,504$8,770$8,090$7,461$6,393
9 years$9,058$8,275$7,554$6,891$6,283$5,265
10 years$8,070$7,294$6,586$5,940$5,354$4,385
11 years$7,261$6,493$5,798$5,170$4,604$3,684
12 years$6,588$5,828$5,146$4,535$3,990$3,117
13 years$6,019$5,267$4,597$4,003$3,479$2,653
14 years$5,531$4,788$4,131$3,554$3,050$2,268
15 years$5,109$4,373$3,729$3,169$2,685$1,947
16 years$4,741$4,013$3,381$2,838$2,373$1,677
17 years$4,415$3,695$3,077$2,550$2,104$1,448
18 years$4,127$3,415$2,809$2,298$1,871$1,253
19 years$3,869$3,165$2,571$2,076$1,668$1,087
20 years$3,637$2,941$2,360$1,880$1,490$945
21 years$3,427$2,739$2,171$1,707$1,333$822
22 years$3,237$2,557$2,000$1,552$1,195$716
23 years$3,063$2,392$1,847$1,413$1,073$625
24 years$2,904$2,241$1,708$1,289$964$545
25 years$2,759$2,103$1,582$1,177$868$476
26 years$2,624$1,976$1,467$1,076$781$417
27 years$2,500$1,860$1,363$985$705$364
28 years$2,385$1,753$1,267$903$636$319
29 years$2,278$1,653$1,179$828$574$279
30 years$2,178$1,561$1,098$760$519$245
31 years$2,085$1,476$1,024$698$469$215
32 years$1,998$1,397$955$641$424$188
33 years$1,916$1,323$892$590$384$165
34 years$1,840$1,254$833$543$348$145
35 years$1,767$1,189$779$499$315$127
36 years$1,699$1,129$729$460$285$111
37 years$1,635$1,072$682$424$259$98
38 years$1,575$1,019$639$391$234$86
39 years$1,517$969$598$360$213$75
40 years$1,463$922$561$332$193$66
41 years$1,411$877$526$306$175$58
42 years$1,362$835$493$283$159$51
43 years$1,316$796$463$261$144$45
44 years$1,271$759$435$241$131$39
45 years$1,229$724$408$223$119$35
46 years$1,189$690$383$206$108$30
47 years$1,150$659$360$190$98$27
48 years$1,113$629$338$176$89$23
49 years$1,078$600$318$162$81$21
50 years$1,045$574$299$150$73$18

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 $5,308 every year, while hoping to spend $51,295 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: 77/18/5 Blend
53$1,070,000$1,070,000$1,070,000$1,070,000
54$1,184,615$1,127,905$1,111,320$1,275,104
55$1,250,868$1,128,595$1,093,972$1,335,904
56$1,322,160$1,127,600$1,074,323$1,395,347
57$1,398,951$1,124,782$1,052,243$1,458,992
58$1,481,744$1,119,997$1,027,594$1,527,231
59$1,571,096$1,113,091$1,000,232$1,600,500
60$1,667,616$1,103,900$970,008$1,679,277
61$1,771,973$1,092,251$936,763$1,764,089
62$1,884,903$1,077,961$900,334$1,855,519
63$2,007,217$1,060,834$860,549$1,954,207
64$2,139,803$1,040,665$817,227$2,060,861
65$2,283,640$1,017,235$770,181$2,176,259
66$2,439,804$990,312$719,215$2,301,263
67$2,609,479$959,652$664,124$2,436,818
68$2,793,966$924,996$604,692$2,583,970
69$2,994,698$886,068$540,697$2,743,871
70$3,213,251$842,579$471,904$2,917,791
71$3,451,359$794,221$398,069$3,107,132
72$3,710,929$740,670$318,936$3,313,439
73$3,994,064$681,583$234,240$3,538,416
74$4,303,073$616,595$143,702$3,783,941
75$4,640,503$545,324$47,032$4,052,086
76$5,009,153$467,364$0$4,345,137
77$5,412,108$382,287$0$4,668,608
78$5,852,764$289,639$0$5,025,155
79$6,334,857$188,943$0$5,415,348
80$6,862,506$79,694$0$5,842,586
81$7,440,241$0$0$6,310,613
82$8,073,055$0$0$6,831,213
83$8,766,444$0$0$7,418,980
84$9,526,462$0$0$8,063,265
85$10,359,776$0$0$8,769,725
86$11,273,729$0$0$9,544,590
87$12,276,408$0$0$10,394,722
88$13,376,722$0$0$11,327,680
89$14,584,485$0$0$12,351,790
90$15,910,504$0$0$13,476,223
91$17,366,687$0$0$14,711,082
92$18,966,149$0$0$16,067,495
93$20,723,341$0$0$17,557,722
94$22,654,180$0$0$19,195,270
95$24,776,202$0$0$20,995,017
96$27,108,725$0$0$22,973,356
97$29,673,035$0$0$25,148,347
98$32,492,580$0$0$27,539,885
99$35,593,194$0$0$30,169,893
100$39,003,342$0$0$33,062,520