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%11.4%
1 years$102,398$101,486$100,596$99,727$98,879$98,297
2 years$50,692$49,748$48,833$47,946$47,085$46,498
3 years$33,459$32,511$31,598$30,719$29,873$29,299
4 years$24,844$23,899$22,995$22,132$21,306$20,749
5 years$19,677$18,737$17,845$16,999$16,196$15,659
6 years$16,233$15,300$14,422$13,594$12,815$12,298
7 years$13,774$12,849$11,985$11,177$10,422$9,925
8 years$11,930$11,014$10,164$9,376$8,646$8,169
9 years$10,497$9,590$8,754$7,986$7,282$6,824
10 years$9,352$8,453$7,632$6,884$6,204$5,766
11 years$8,415$7,525$6,719$5,991$5,336$4,917
12 years$7,635$6,754$5,963$5,255$4,624$4,224
13 years$6,975$6,104$5,328$4,640$4,032$3,651
14 years$6,410$5,548$4,787$4,118$3,535$3,172
15 years$5,921$5,068$4,322$3,673$3,112$2,767
16 years$5,494$4,650$3,918$3,289$2,750$2,423
17 years$5,117$4,283$3,566$2,955$2,439$2,128
18 years$4,782$3,957$3,255$2,663$2,168$1,874
19 years$4,483$3,668$2,980$2,406$1,933$1,653
20 years$4,214$3,408$2,735$2,179$1,726$1,462
21 years$3,971$3,174$2,515$1,978$1,545$1,295
22 years$3,751$2,963$2,318$1,798$1,385$1,149
23 years$3,550$2,771$2,141$1,638$1,243$1,021
24 years$3,366$2,597$1,980$1,494$1,117$908
25 years$3,197$2,437$1,834$1,364$1,005$808
26 years$3,041$2,290$1,701$1,247$906$720
27 years$2,897$2,155$1,579$1,142$817$642
28 years$2,764$2,031$1,468$1,046$737$573
29 years$2,640$1,916$1,366$959$665$512
30 years$2,524$1,810$1,272$880$601$457
31 years$2,416$1,711$1,186$809$543$409
32 years$2,315$1,619$1,107$743$492$366
33 years$2,221$1,533$1,033$683$445$327
34 years$2,132$1,453$966$629$403$293
35 years$2,048$1,378$903$579$365$262
36 years$1,969$1,308$844$533$331$235
37 years$1,895$1,242$790$491$300$210
38 years$1,825$1,180$740$453$272$188
39 years$1,758$1,123$693$417$246$169
40 years$1,695$1,068$650$385$223$151
41 years$1,635$1,017$609$355$203$136
42 years$1,579$968$572$328$184$122
43 years$1,525$922$536$303$167$109
44 years$1,473$879$504$279$152$98
45 years$1,424$839$473$258$138$88
46 years$1,378$800$444$238$125$79
47 years$1,333$763$417$220$113$71
48 years$1,290$729$392$203$103$63
49 years$1,250$696$369$188$94$57
50 years$1,211$665$346$174$85$51

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 $2,692 every year, while hoping to spend $24,589 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: 46/33/21 Blend
53$1,240,000$1,240,000$1,240,000$1,240,000
54$1,369,257$1,303,537$1,284,317$1,423,896
55$1,482,758$1,341,248$1,301,179$1,500,176
56$1,607,013$1,379,982$1,317,782$1,580,233
57$1,743,092$1,419,765$1,334,091$1,666,584
58$1,892,174$1,460,619$1,350,069$1,759,829
59$2,055,557$1,502,572$1,365,679$1,860,625
60$2,234,673$1,545,647$1,380,878$1,969,698
61$2,431,097$1,589,870$1,395,624$2,087,846
62$2,646,562$1,635,268$1,409,871$2,215,947
63$2,882,982$1,681,866$1,423,572$2,354,969
64$3,142,460$1,729,691$1,436,675$2,505,977
65$3,427,315$1,778,770$1,449,128$2,670,145
66$3,740,102$1,829,131$1,460,875$2,848,764
67$4,083,633$1,880,799$1,471,855$3,043,258
68$4,461,010$1,933,804$1,482,008$3,255,193
69$4,875,645$1,988,173$1,491,268$3,486,297
70$5,331,301$2,043,934$1,499,566$3,738,471
71$5,832,122$2,101,114$1,506,829$4,013,810
72$6,382,672$2,159,743$1,512,982$4,314,621
73$6,987,983$2,219,849$1,517,945$4,643,447
74$7,653,595$2,281,459$1,521,634$5,003,088
75$8,385,614$2,344,602$1,523,960$5,396,630
76$9,190,766$2,409,308$1,524,833$5,827,474
77$10,076,463$2,475,603$1,524,154$6,299,364
78$11,050,871$2,543,516$1,521,821$6,816,429
79$12,122,986$2,613,075$1,517,729$7,383,215
80$13,302,723$2,684,307$1,511,765$8,004,733
81$14,601,003$2,757,241$1,503,812$8,686,503
82$16,029,862$2,831,902$1,493,746$9,434,611
83$17,602,560$2,908,318$1,481,439$10,255,759
84$19,333,710$2,986,515$1,466,756$11,157,333
85$21,239,412$3,066,517$1,449,555$12,147,475
86$23,337,405$3,148,349$1,429,689$13,235,152
87$25,647,238$3,232,036$1,407,001$14,430,250
88$28,190,451$3,317,601$1,381,330$15,743,660
89$30,990,778$3,405,064$1,352,506$17,187,384
90$34,074,373$3,494,448$1,320,350$18,774,649
91$37,470,055$3,585,771$1,284,678$20,520,030
92$41,209,579$3,679,053$1,245,293$22,439,589
93$45,327,938$3,774,308$1,201,992$24,551,027
94$49,863,691$3,871,554$1,154,563$26,873,848
95$54,859,330$3,970,801$1,102,783$29,429,549
96$60,361,674$4,072,063$1,046,418$32,241,818
97$66,422,317$4,175,347$985,226$35,336,759
98$73,098,115$4,280,660$918,952$38,743,139
99$80,451,717$4,388,006$847,331$42,492,662
100$88,552,160$4,497,387$770,085$46,620,264