Can I retire at age 54 with 1,320,000?

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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$109,004$108,033$107,086$106,161$105,259$101,726
2 years$53,963$52,958$51,984$51,039$50,123$46,599
3 years$35,618$34,608$33,637$32,701$31,800$28,395
4 years$26,447$25,441$24,479$23,559$22,680$19,421
5 years$20,946$19,946$18,997$18,096$17,241$14,135
6 years$17,280$16,287$15,352$14,471$13,642$10,693
7 years$14,662$13,678$12,758$11,898$11,095$8,301
8 years$12,700$11,725$10,820$9,981$9,204$6,564
9 years$11,175$10,208$9,319$8,501$7,751$5,262
10 years$9,955$8,998$8,124$7,328$6,604$4,261
11 years$8,958$8,011$7,153$6,378$5,680$3,479
12 years$8,127$7,190$6,348$5,594$4,922$2,858
13 years$7,425$6,498$5,671$4,939$4,292$2,360
14 years$6,824$5,906$5,096$4,384$3,763$1,957
15 years$6,303$5,395$4,601$3,910$3,313$1,627
16 years$5,848$4,950$4,171$3,501$2,928$1,357
17 years$5,447$4,559$3,796$3,146$2,596$1,135
18 years$5,091$4,213$3,465$2,835$2,308$950
19 years$4,772$3,904$3,172$2,561$2,057$797
20 years$4,486$3,628$2,911$2,320$1,838$669
21 years$4,228$3,379$2,678$2,105$1,645$563
22 years$3,993$3,154$2,468$1,914$1,474$473
23 years$3,779$2,950$2,279$1,743$1,323$399
24 years$3,583$2,764$2,107$1,590$1,189$336
25 years$3,403$2,594$1,952$1,452$1,070$283
26 years$3,237$2,438$1,810$1,328$964$239
27 years$3,084$2,294$1,681$1,215$869$201
28 years$2,942$2,162$1,563$1,114$784$170
29 years$2,810$2,040$1,454$1,021$708$143
30 years$2,687$1,926$1,355$937$640$121
31 years$2,572$1,821$1,263$861$579$102
32 years$2,465$1,723$1,178$791$523$86
33 years$2,364$1,632$1,100$727$474$73
34 years$2,269$1,546$1,028$669$429$62
35 years$2,180$1,467$961$616$388$52
36 years$2,096$1,392$899$567$352$44
37 years$2,017$1,322$841$523$319$37
38 years$1,943$1,257$788$482$289$31
39 years$1,872$1,195$738$444$262$27
40 years$1,805$1,137$692$410$238$22
41 years$1,741$1,082$649$378$216$19
42 years$1,681$1,031$609$349$196$16
43 years$1,623$982$571$322$178$14
44 years$1,568$936$536$297$161$11
45 years$1,516$893$503$275$146$10
46 years$1,466$852$473$254$133$8
47 years$1,419$813$444$234$121$7
48 years$1,374$776$417$217$110$6
49 years$1,330$741$392$200$100$5
50 years$1,289$708$369$185$90$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,320,000, adding $3,681 every year, while hoping to spend $46,354 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: 39/32/29 Blend
53$1,320,000$1,320,000$1,320,000$1,320,000
54$1,458,437$1,388,477$1,368,017$1,502,659
55$1,557,877$1,407,192$1,364,525$1,554,094
56$1,665,907$1,425,271$1,359,363$1,605,145
57$1,783,353$1,442,632$1,352,425$1,659,475
58$1,911,125$1,459,192$1,343,602$1,717,411
59$2,050,226$1,474,858$1,332,778$1,779,319
60$2,201,756$1,489,533$1,319,833$1,845,604
61$2,366,927$1,503,112$1,304,640$1,916,715
62$2,547,075$1,515,486$1,287,067$1,993,147
63$2,743,667$1,526,536$1,266,974$2,075,452
64$2,958,321$1,536,136$1,244,218$2,164,237
65$3,192,816$1,544,152$1,218,645$2,260,179
66$3,449,111$1,550,443$1,190,097$2,364,023
67$3,729,362$1,554,857$1,158,408$2,476,596
68$4,035,946$1,557,234$1,123,402$2,598,812
69$4,371,475$1,557,401$1,084,900$2,731,684
70$4,738,831$1,555,179$1,042,709$2,876,331
71$5,141,182$1,550,373$996,630$3,033,991
72$5,582,022$1,542,781$946,457$3,206,035
73$6,065,195$1,532,184$891,970$3,393,978
74$6,594,937$1,518,353$832,943$3,599,493
75$7,175,912$1,501,044$769,138$3,824,433
76$7,813,258$1,479,998$700,306$4,070,845
77$8,512,633$1,454,940$626,189$4,340,991
78$9,280,270$1,425,581$546,516$4,637,372
79$10,123,036$1,391,613$461,002$4,962,751
80$11,048,494$1,352,710$369,354$5,320,180
81$12,064,975$1,308,528$271,262$5,713,033
82$13,181,658$1,258,701$166,405$6,145,034
83$14,408,653$1,202,843$54,445$6,620,299
84$15,757,099$1,140,546$0$7,143,374
85$17,239,267$1,071,377$0$7,739,402
86$18,868,678$994,880$0$8,413,087
87$20,660,225$910,571$0$9,153,805
88$22,630,319$817,940$0$9,968,434
89$24,797,038$716,446$0$10,864,563
90$27,180,304$605,519$0$11,850,561
91$29,802,063$484,558$0$12,935,658
92$32,686,496$352,924$0$14,130,030
93$35,860,247$209,945$0$15,444,901
94$39,352,672$54,913$0$16,892,650
95$43,196,117$0$0$18,486,925
96$47,426,221$0$0$20,282,540
97$52,082,256$0$0$22,280,451
98$57,207,490$0$0$24,479,915
99$62,849,604$0$0$26,901,421
100$69,061,131$0$0$29,567,544