Can I retire at age 54 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$102,398$101,486$100,596$99,727$98,879$96,646
2 years$50,692$49,748$48,833$47,946$47,085$44,847
3 years$33,459$32,511$31,598$30,719$29,873$27,700
4 years$24,844$23,899$22,995$22,132$21,306$19,215
5 years$19,677$18,737$17,845$16,999$16,196$14,193
6 years$16,233$15,300$14,422$13,594$12,815$10,902
7 years$13,774$12,849$11,985$11,177$10,422$8,599
8 years$11,930$11,014$10,164$9,376$8,646$6,913
9 years$10,497$9,590$8,754$7,986$7,282$5,636
10 years$9,352$8,453$7,632$6,884$6,204$4,645
11 years$8,415$7,525$6,719$5,991$5,336$3,861
12 years$7,635$6,754$5,963$5,255$4,624$3,231
13 years$6,975$6,104$5,328$4,640$4,032$2,719
14 years$6,410$5,548$4,787$4,118$3,535$2,298
15 years$5,921$5,068$4,322$3,673$3,112$1,949
16 years$5,494$4,650$3,918$3,289$2,750$1,659
17 years$5,117$4,283$3,566$2,955$2,439$1,415
18 years$4,782$3,957$3,255$2,663$2,168$1,210
19 years$4,483$3,668$2,980$2,406$1,933$1,036
20 years$4,214$3,408$2,735$2,179$1,726$889
21 years$3,971$3,174$2,515$1,978$1,545$764
22 years$3,751$2,963$2,318$1,798$1,385$657
23 years$3,550$2,771$2,141$1,638$1,243$565
24 years$3,366$2,597$1,980$1,494$1,117$487
25 years$3,197$2,437$1,834$1,364$1,005$420
26 years$3,041$2,290$1,701$1,247$906$362
27 years$2,897$2,155$1,579$1,142$817$312
28 years$2,764$2,031$1,468$1,046$737$270
29 years$2,640$1,916$1,366$959$665$233
30 years$2,524$1,810$1,272$880$601$201
31 years$2,416$1,711$1,186$809$543$174
32 years$2,315$1,619$1,107$743$492$150
33 years$2,221$1,533$1,033$683$445$130
34 years$2,132$1,453$966$629$403$112
35 years$2,048$1,378$903$579$365$97
36 years$1,969$1,308$844$533$331$84
37 years$1,895$1,242$790$491$300$73
38 years$1,825$1,180$740$453$272$63
39 years$1,758$1,123$693$417$246$54
40 years$1,695$1,068$650$385$223$47
41 years$1,635$1,017$609$355$203$41
42 years$1,579$968$572$328$184$35
43 years$1,525$922$536$303$167$31
44 years$1,473$879$504$279$152$26
45 years$1,424$839$473$258$138$23
46 years$1,378$800$444$238$125$20
47 years$1,333$763$417$220$113$17
48 years$1,290$729$392$203$103$15
49 years$1,250$696$369$188$94$13
50 years$1,211$665$346$174$85$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,240,000, adding $4,064 every year, while hoping to spend $45,316 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: 37/42/21 Blend
53$1,240,000$1,240,000$1,240,000$1,240,000
54$1,370,672$1,304,952$1,285,732$1,412,588
55$1,462,265$1,320,679$1,280,588$1,459,172
56$1,561,681$1,335,657$1,273,753$1,504,923
57$1,669,671$1,349,803$1,265,123$1,553,417
58$1,787,060$1,363,026$1,254,587$1,604,926
59$1,914,756$1,375,230$1,242,031$1,659,753
60$2,053,758$1,386,313$1,227,336$1,718,236
61$2,205,164$1,396,165$1,210,374$1,780,745
62$2,370,184$1,404,671$1,191,015$1,847,696
63$2,550,149$1,411,706$1,169,121$1,919,546
64$2,746,524$1,417,139$1,144,546$1,996,803
65$2,960,922$1,420,831$1,117,140$2,080,032
66$3,195,117$1,422,633$1,086,746$2,169,855
67$3,451,063$1,422,387$1,053,196$2,266,964
68$3,730,913$1,419,925$1,016,319$2,372,126
69$4,037,034$1,415,069$975,934$2,486,188
70$4,372,035$1,407,631$931,851$2,610,090
71$4,738,787$1,397,410$883,873$2,744,871
72$5,140,454$1,384,193$831,794$2,891,684
73$5,580,518$1,367,756$775,396$3,051,801
74$6,062,813$1,347,859$714,454$3,226,633
75$6,591,565$1,324,249$648,734$3,417,740
76$7,171,426$1,296,658$577,987$3,626,846
77$7,807,519$1,264,802$501,957$3,855,861
78$8,505,489$1,228,380$420,376$4,106,895
79$9,271,552$1,187,074$332,962$4,382,281
80$10,112,556$1,140,547$239,422$4,684,601
81$11,036,046$1,088,442$139,451$5,016,707
82$12,050,329$1,030,382$32,729$5,381,750
83$13,164,560$965,969$0$5,783,217
84$14,388,824$894,780$0$6,243,144
85$15,734,228$816,369$0$6,756,606
86$17,213,014$730,265$0$7,321,046
87$18,838,663$635,969$0$7,941,741
88$20,626,030$532,956$0$8,624,515
89$22,591,483$420,668$0$9,375,796
90$24,753,052$298,519$0$10,202,676
91$27,130,604$165,887$0$11,112,983
92$29,746,028$22,117$0$12,115,350
93$32,623,440$0$0$13,219,306
94$35,789,413$0$0$14,497,055
95$39,273,223$0$0$15,914,529
96$43,107,132$0$0$17,474,657
97$47,326,682$0$0$19,191,928
98$51,971,039$0$0$21,082,309
99$57,083,357$0$0$23,163,392
100$62,711,187$0$0$25,454,562