Can I retire at age 54 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$100,746$99,849$98,974$98,119$97,285$95,594
2 years$49,874$48,946$48,045$47,173$46,326$44,628
3 years$32,919$31,987$31,089$30,224$29,391$27,739
4 years$24,443$23,513$22,625$21,775$20,962$19,369
5 years$19,359$18,435$17,558$16,725$15,935$14,405
6 years$15,971$15,053$14,189$13,375$12,609$11,143
7 years$13,552$12,642$11,791$10,996$10,254$8,854
8 years$11,738$10,836$10,000$9,225$8,507$7,171
9 years$10,328$9,435$8,613$7,857$7,164$5,893
10 years$9,201$8,317$7,509$6,773$6,104$4,896
11 years$8,279$7,404$6,611$5,895$5,250$4,103
12 years$7,512$6,645$5,867$5,170$4,549$3,463
13 years$6,863$6,005$5,242$4,565$3,967$2,939
14 years$6,307$5,459$4,710$4,052$3,478$2,506
15 years$5,826$4,987$4,252$3,614$3,062$2,145
16 years$5,405$4,575$3,855$3,236$2,706$1,842
17 years$5,034$4,213$3,508$2,907$2,399$1,586
18 years$4,705$3,893$3,202$2,620$2,133$1,369
19 years$4,411$3,608$2,932$2,367$1,902$1,184
20 years$4,146$3,353$2,691$2,144$1,699$1,026
21 years$3,907$3,123$2,475$1,946$1,520$890
22 years$3,690$2,915$2,281$1,769$1,362$773
23 years$3,493$2,727$2,106$1,611$1,223$672
24 years$3,312$2,555$1,948$1,470$1,099$585
25 years$3,145$2,398$1,804$1,342$989$509
26 years$2,992$2,253$1,673$1,227$891$444
27 years$2,850$2,121$1,554$1,123$803$387
28 years$2,719$1,998$1,444$1,029$725$338
29 years$2,597$1,885$1,344$944$655$295
30 years$2,483$1,780$1,252$866$591$258
31 years$2,377$1,683$1,167$795$535$225
32 years$2,278$1,592$1,089$731$484$197
33 years$2,185$1,508$1,017$672$438$172
34 years$2,097$1,429$950$619$396$150
35 years$2,015$1,356$888$569$359$131
36 years$1,938$1,287$831$524$325$115
37 years$1,864$1,222$778$483$295$101
38 years$1,795$1,161$728$445$267$88
39 years$1,730$1,104$682$411$242$77
40 years$1,668$1,051$640$379$220$67
41 years$1,609$1,000$600$349$199$59
42 years$1,553$953$563$323$181$52
43 years$1,500$908$528$298$164$45
44 years$1,450$865$495$275$149$40
45 years$1,401$825$465$254$135$35
46 years$1,355$787$437$234$123$30
47 years$1,312$751$411$217$112$27
48 years$1,270$717$386$200$101$23
49 years$1,230$685$363$185$92$20
50 years$1,191$654$341$171$84$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,220,000, adding $3,208 every year, while hoping to spend $39,986 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: 69/21/10 Blend
53$1,220,000$1,220,000$1,220,000$1,220,000
54$1,347,749$1,283,089$1,264,179$1,437,828
55$1,442,675$1,303,416$1,263,984$1,518,318
56$1,545,943$1,323,398$1,262,443$1,601,196
57$1,658,361$1,342,977$1,259,467$1,690,799
58$1,780,821$1,362,090$1,254,966$1,787,779
59$1,914,301$1,380,668$1,248,843$1,892,858
60$2,059,878$1,398,640$1,240,998$2,006,828
61$2,218,739$1,415,927$1,231,326$2,130,563
62$2,392,190$1,432,447$1,219,715$2,265,026
63$2,581,668$1,448,111$1,206,049$2,411,280
64$2,788,755$1,462,825$1,190,209$2,570,493
65$3,015,193$1,476,489$1,172,066$2,743,956
66$3,262,901$1,488,995$1,151,488$2,933,089
67$3,533,989$1,500,228$1,128,336$3,139,460
68$3,830,785$1,510,068$1,102,463$3,364,794
69$4,155,847$1,518,384$1,073,718$3,610,995
70$4,511,997$1,525,038$1,041,942$3,880,160
71$4,902,341$1,529,885$1,006,967$4,174,602
72$5,330,298$1,532,768$968,619$4,496,869
73$5,799,637$1,533,521$926,715$4,849,770
74$6,314,506$1,531,970$881,066$5,236,403
75$6,879,475$1,527,926$831,472$5,660,182
76$7,499,580$1,521,193$777,724$6,124,868
77$8,180,365$1,511,559$719,606$6,634,610
78$8,927,938$1,498,802$656,889$7,193,981
79$9,749,029$1,482,684$589,336$7,808,020
80$10,651,050$1,462,956$516,699$8,482,283
81$11,642,167$1,439,351$438,718$9,222,894
82$12,731,377$1,411,588$355,124$10,036,604
83$13,928,590$1,379,368$265,633$10,930,854
84$15,244,725$1,342,375$169,950$11,913,847
85$16,691,811$1,300,276$67,768$12,994,625
86$18,283,102$1,252,716$0$14,183,153
87$20,033,200$1,199,320$0$15,494,824
88$21,958,192$1,139,692$0$16,945,344
89$24,075,803$1,073,414$0$18,540,861
90$26,405,564$1,000,040$0$20,296,127
91$28,968,993$919,103$0$22,227,401
92$31,789,799$830,108$0$24,352,601
93$34,894,104$732,529$0$26,691,475
94$38,310,694$625,814$0$29,265,790
95$42,071,284$509,378$0$32,099,530
96$46,210,820$382,603$0$35,219,134
97$50,767,809$244,836$0$38,653,736
98$55,784,681$95,388$0$42,435,448
99$61,308,189$0$0$46,599,659
100$67,389,848$0$0$51,200,732