Can I retire at age 54 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$92,489$91,665$90,861$90,076$89,310$88,636
2 years$45,786$44,934$44,107$43,306$42,529$41,849
3 years$30,221$29,365$28,540$27,747$26,982$26,318
4 years$22,440$21,586$20,770$19,990$19,244$18,600
5 years$17,772$16,924$16,118$15,354$14,629$14,008
6 years$14,662$13,820$13,026$12,279$11,575$10,978
7 years$12,441$11,606$10,825$10,095$9,414$8,840
8 years$10,776$9,948$9,180$8,469$7,810$7,259
9 years$9,482$8,662$7,907$7,213$6,577$6,050
10 years$8,447$7,635$6,893$6,218$5,604$5,100
11 years$7,601$6,797$6,069$5,411$4,819$4,338
12 years$6,896$6,100$5,386$4,747$4,176$3,718
13 years$6,300$5,513$4,812$4,191$3,642$3,205
14 years$5,790$5,011$4,324$3,720$3,193$2,777
15 years$5,348$4,578$3,904$3,317$2,811$2,416
16 years$4,962$4,200$3,539$2,970$2,484$2,110
17 years$4,622$3,868$3,221$2,669$2,203$1,848
18 years$4,319$3,574$2,940$2,405$1,959$1,622
19 years$4,049$3,313$2,691$2,173$1,746$1,428
20 years$3,807$3,078$2,470$1,968$1,559$1,259
21 years$3,587$2,867$2,272$1,786$1,395$1,112
22 years$3,388$2,677$2,094$1,624$1,251$984
23 years$3,206$2,503$1,933$1,479$1,123$871
24 years$3,040$2,345$1,788$1,349$1,009$772
25 years$2,888$2,201$1,656$1,232$908$686
26 years$2,747$2,069$1,536$1,127$818$609
27 years$2,617$1,947$1,426$1,031$737$541
28 years$2,496$1,834$1,326$945$665$482
29 years$2,384$1,731$1,234$866$601$429
30 years$2,280$1,634$1,149$795$543$382
31 years$2,182$1,545$1,071$730$491$340
32 years$2,091$1,462$1,000$671$444$303
33 years$2,006$1,384$933$617$402$270
34 years$1,925$1,312$872$568$364$241
35 years$1,850$1,245$815$523$330$215
36 years$1,779$1,181$763$481$299$192
37 years$1,712$1,122$714$444$271$171
38 years$1,648$1,066$669$409$245$153
39 years$1,588$1,014$626$377$222$137
40 years$1,531$965$587$348$202$122
41 years$1,477$918$551$321$183$109
42 years$1,426$874$516$296$166$97
43 years$1,377$833$485$273$151$87
44 years$1,331$794$455$252$137$78
45 years$1,286$757$427$233$124$70
46 years$1,244$723$401$215$113$62
47 years$1,204$689$377$199$102$56
48 years$1,166$658$354$184$93$50
49 years$1,129$629$333$170$84$44
50 years$1,094$600$313$157$77$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,120,000, adding $2,415 every year, while hoping to spend $29,962 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: 48/37/15 Blend
53$1,120,000$1,120,000$1,120,000$1,120,000
54$1,236,731$1,177,371$1,160,011$1,290,805
55$1,330,998$1,203,183$1,166,992$1,354,248
56$1,433,877$1,229,255$1,173,203$1,419,821
57$1,546,213$1,255,569$1,178,586$1,490,365
58$1,668,939$1,282,105$1,183,081$1,566,355
59$1,803,080$1,308,838$1,186,624$1,648,316
60$1,949,768$1,335,744$1,189,149$1,736,824
61$2,110,245$1,362,796$1,190,586$1,832,517
62$2,285,881$1,389,964$1,190,862$1,936,096
63$2,478,184$1,417,216$1,189,899$2,048,334
64$2,688,815$1,444,516$1,187,617$2,170,085
65$2,919,603$1,471,826$1,183,931$2,302,286
66$3,172,562$1,499,105$1,178,752$2,445,975
67$3,449,910$1,526,308$1,171,987$2,602,293
68$3,754,091$1,553,387$1,163,539$2,772,498
69$4,087,795$1,580,290$1,153,304$2,957,978
70$4,453,987$1,606,961$1,141,177$3,160,262
71$4,855,932$1,633,340$1,127,044$3,381,038
72$5,297,225$1,659,362$1,110,789$3,622,164
73$5,781,829$1,684,958$1,092,287$3,885,689
74$6,314,108$1,710,053$1,071,411$4,173,873
75$6,898,869$1,734,568$1,048,025$4,489,209
76$7,541,408$1,758,416$1,021,989$4,834,441
77$8,247,561$1,781,507$993,154$5,212,598
78$9,023,754$1,803,743$961,367$5,627,019
79$9,877,069$1,825,019$926,465$6,081,384
80$10,815,309$1,845,223$888,280$6,579,750
81$11,847,069$1,864,238$846,636$7,126,591
82$12,981,819$1,881,934$801,347$7,726,838
83$14,229,993$1,898,178$752,221$8,385,929
84$15,603,088$1,912,825$699,057$9,109,857
85$17,113,771$1,925,720$641,642$9,905,230
86$18,775,997$1,936,702$579,759$10,779,333
87$20,605,143$1,945,595$513,175$11,740,198
88$22,618,153$1,952,215$441,652$12,796,676
89$24,833,696$1,956,365$364,939$13,958,530
90$27,272,342$1,957,835$282,773$15,236,516
91$29,956,756$1,956,404$194,881$16,642,498
92$32,911,913$1,951,836$100,978$18,189,549
93$36,165,333$1,943,881$765$19,892,083
94$39,747,339$1,932,273$0$21,765,988
95$43,691,342$1,916,730$0$23,845,774
96$48,034,163$1,896,953$0$26,134,988
97$52,816,369$1,872,625$0$28,654,845
98$58,082,666$1,843,411$0$31,428,861
99$63,882,315$1,808,955$0$34,482,954
100$70,269,598$1,768,881$0$37,845,690