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%16.7%
1 years$109,004$108,033$107,086$106,161$105,259$102,382
2 years$53,963$52,958$51,984$51,039$50,123$47,246
3 years$35,618$34,608$33,637$32,701$31,800$29,013
4 years$26,447$25,441$24,479$23,559$22,680$20,003
5 years$20,946$19,946$18,997$18,096$17,241$14,683
6 years$17,280$16,287$15,352$14,471$13,642$11,205
7 years$14,662$13,678$12,758$11,898$11,095$8,778
8 years$12,700$11,725$10,820$9,981$9,204$7,007
9 years$11,175$10,208$9,319$8,501$7,751$5,672
10 years$9,955$8,998$8,124$7,328$6,604$4,640
11 years$8,958$8,011$7,153$6,378$5,680$3,827
12 years$8,127$7,190$6,348$5,594$4,922$3,178
13 years$7,425$6,498$5,671$4,939$4,292$2,652
14 years$6,824$5,906$5,096$4,384$3,763$2,224
15 years$6,303$5,395$4,601$3,910$3,313$1,871
16 years$5,848$4,950$4,171$3,501$2,928$1,578
17 years$5,447$4,559$3,796$3,146$2,596$1,335
18 years$5,091$4,213$3,465$2,835$2,308$1,131
19 years$4,772$3,904$3,172$2,561$2,057$960
20 years$4,486$3,628$2,911$2,320$1,838$816
21 years$4,228$3,379$2,678$2,105$1,645$695
22 years$3,993$3,154$2,468$1,914$1,474$592
23 years$3,779$2,950$2,279$1,743$1,323$505
24 years$3,583$2,764$2,107$1,590$1,189$431
25 years$3,403$2,594$1,952$1,452$1,070$368
26 years$3,237$2,438$1,810$1,328$964$314
27 years$3,084$2,294$1,681$1,215$869$268
28 years$2,942$2,162$1,563$1,114$784$229
29 years$2,810$2,040$1,454$1,021$708$196
30 years$2,687$1,926$1,355$937$640$168
31 years$2,572$1,821$1,263$861$579$144
32 years$2,465$1,723$1,178$791$523$123
33 years$2,364$1,632$1,100$727$474$105
34 years$2,269$1,546$1,028$669$429$90
35 years$2,180$1,467$961$616$388$77
36 years$2,096$1,392$899$567$352$66
37 years$2,017$1,322$841$523$319$57
38 years$1,943$1,257$788$482$289$48
39 years$1,872$1,195$738$444$262$42
40 years$1,805$1,137$692$410$238$36
41 years$1,741$1,082$649$378$216$30
42 years$1,681$1,031$609$349$196$26
43 years$1,623$982$571$322$178$22
44 years$1,568$936$536$297$161$19
45 years$1,516$893$503$275$146$16
46 years$1,466$852$473$254$133$14
47 years$1,419$813$444$234$121$12
48 years$1,374$776$417$217$110$10
49 years$1,330$741$392$200$100$9
50 years$1,289$708$369$185$90$8

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 $6,524 every year, while hoping to spend $34,811 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: 58/24/18 Blend
53$1,320,000$1,320,000$1,320,000$1,320,000
54$1,461,370$1,391,410$1,370,950$1,538,870
55$1,573,391$1,422,550$1,379,838$1,623,331
56$1,695,671$1,454,050$1,387,857$1,711,000
57$1,829,221$1,485,889$1,394,941$1,805,786
58$1,975,151$1,518,048$1,401,022$1,908,381
59$2,134,686$1,550,501$1,406,025$2,019,549
60$2,309,172$1,583,224$1,409,876$2,140,130
61$2,500,094$1,616,188$1,412,492$2,271,051
62$2,709,084$1,649,362$1,413,792$2,413,330
63$2,937,942$1,682,712$1,413,685$2,568,095
64$3,188,648$1,716,201$1,412,079$2,736,584
65$3,463,383$1,749,788$1,408,877$2,920,163
66$3,764,551$1,783,430$1,403,977$3,120,338
67$4,094,797$1,817,080$1,397,272$3,338,768
68$4,457,035$1,850,686$1,388,649$3,577,283
69$4,854,475$1,884,192$1,377,992$3,837,898
70$5,290,653$1,917,539$1,365,176$4,122,835
71$5,769,463$1,950,662$1,350,073$4,434,544
72$6,295,196$1,983,492$1,332,548$4,775,724
73$6,872,576$2,015,953$1,312,459$5,149,350
74$7,506,811$2,047,967$1,289,658$5,558,702
75$8,203,634$2,079,446$1,263,990$6,007,396
76$8,969,364$2,110,298$1,235,293$6,499,415
77$9,810,960$2,140,423$1,203,396$7,039,153
78$10,736,091$2,169,717$1,168,123$7,631,450
79$11,753,204$2,198,065$1,129,287$8,281,644
80$12,871,607$2,225,346$1,086,694$8,995,616
81$14,101,553$2,251,431$1,040,141$9,779,850
82$15,454,341$2,276,181$989,415$10,641,494
83$16,942,418$2,299,447$934,295$11,588,424
84$18,579,498$2,321,074$874,547$12,629,324
85$20,380,693$2,340,892$809,930$13,773,765
86$22,362,651$2,358,723$740,190$15,032,296
87$24,543,717$2,374,377$665,062$16,416,546
88$26,944,104$2,387,649$584,270$17,939,332
89$29,586,085$2,398,326$497,525$19,614,780
90$32,494,198$2,406,176$404,524$21,458,463
91$35,695,484$2,410,957$304,954$23,487,543
92$39,219,738$2,412,408$198,484$25,720,938
93$43,099,790$2,410,255$84,772$28,179,500
94$47,371,816$2,404,205$0$30,886,209
95$52,075,678$2,393,948$0$33,873,422
96$57,255,300$2,379,155$0$37,179,865
97$62,959,083$2,359,475$0$40,820,086
98$69,240,359$2,334,539$0$44,828,080
99$76,157,898$2,303,953$0$49,241,311
100$83,776,459$2,267,303$0$54,101,065