Can I retire at age 54 with 1,340,000?

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$110,656$109,670$108,709$107,770$106,853$103,474
2 years$54,780$53,760$52,771$51,813$50,883$47,509
3 years$36,157$35,133$34,146$33,197$32,282$29,020
4 years$26,848$25,826$24,850$23,916$23,024$19,897
5 years$21,263$20,248$19,285$18,370$17,502$14,521
6 years$17,542$16,534$15,585$14,691$13,849$11,014
7 years$14,885$13,885$12,951$12,078$11,263$8,575
8 years$12,893$11,902$10,983$10,132$9,344$6,801
9 years$11,344$10,363$9,460$8,630$7,869$5,468
10 years$10,106$9,135$8,248$7,439$6,705$4,443
11 years$9,093$8,132$7,261$6,474$5,766$3,639
12 years$8,250$7,299$6,444$5,679$4,997$2,999
13 years$7,538$6,596$5,757$5,014$4,357$2,485
14 years$6,927$5,996$5,173$4,451$3,820$2,067
15 years$6,399$5,477$4,670$3,969$3,363$1,726
16 years$5,937$5,025$4,234$3,554$2,972$1,445
17 years$5,529$4,628$3,853$3,193$2,635$1,212
18 years$5,168$4,276$3,517$2,878$2,343$1,019
19 years$4,845$3,963$3,220$2,600$2,089$858
20 years$4,554$3,683$2,955$2,355$1,866$723
21 years$4,292$3,430$2,718$2,137$1,670$610
22 years$4,053$3,202$2,505$1,943$1,496$515
23 years$3,836$2,995$2,313$1,770$1,343$436
24 years$3,637$2,806$2,139$1,614$1,207$368
25 years$3,455$2,633$1,981$1,474$1,086$312
26 years$3,286$2,475$1,838$1,348$979$264
27 years$3,131$2,329$1,706$1,234$882$224
28 years$2,987$2,195$1,586$1,130$796$190
29 years$2,853$2,071$1,476$1,037$719$161
30 years$2,728$1,955$1,375$951$650$136
31 years$2,611$1,849$1,282$874$587$115
32 years$2,502$1,749$1,196$803$531$98
33 years$2,400$1,656$1,117$738$481$83
34 years$2,304$1,570$1,043$679$435$70
35 years$2,213$1,489$976$625$394$60
36 years$2,128$1,413$913$576$357$51
37 years$2,048$1,342$854$531$324$43
38 years$1,972$1,276$800$489$294$37
39 years$1,900$1,213$749$451$266$31
40 years$1,832$1,154$702$416$241$26
41 years$1,767$1,099$659$384$219$22
42 years$1,706$1,046$618$354$199$19
43 years$1,648$997$580$327$180$16
44 years$1,592$950$544$302$164$14
45 years$1,539$906$511$279$149$12
46 years$1,489$864$480$258$135$10
47 years$1,441$825$451$238$123$8
48 years$1,394$788$424$220$111$7
49 years$1,350$752$398$203$101$6
50 years$1,308$718$374$188$92$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,340,000, adding $6,645 every year, while hoping to spend $47,646 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: 52/30/18 Blend
53$1,340,000$1,340,000$1,340,000$1,340,000
54$1,483,534$1,412,514$1,391,744$1,553,043
55$1,584,160$1,431,033$1,387,673$1,620,021
56$1,693,452$1,448,861$1,381,868$1,687,299
57$1,812,245$1,465,916$1,374,221$1,759,438
58$1,941,456$1,482,108$1,364,620$1,836,916
59$2,082,094$1,497,341$1,352,944$1,920,258
60$2,235,269$1,511,512$1,339,069$2,010,045
61$2,402,203$1,524,513$1,322,864$2,106,920
62$2,584,241$1,536,227$1,304,193$2,211,590
63$2,782,863$1,546,531$1,282,913$2,324,838
64$2,999,697$1,555,294$1,258,873$2,447,530
65$3,236,538$1,562,375$1,231,917$2,580,618
66$3,495,359$1,567,625$1,201,880$2,725,158
67$3,778,333$1,570,886$1,168,591$2,882,313
68$4,087,854$1,571,991$1,131,870$3,053,368
69$4,426,556$1,570,759$1,091,528$3,239,742
70$4,797,341$1,567,002$1,047,370$3,443,001
71$5,203,403$1,560,519$999,190$3,664,875
72$5,648,260$1,551,094$946,773$3,907,272
73$6,135,787$1,538,502$889,895$4,172,301
74$6,670,251$1,522,503$828,320$4,462,286
75$7,256,352$1,502,841$761,804$4,779,796
76$7,899,266$1,479,246$690,090$5,127,664
77$8,604,694$1,451,432$612,911$5,509,018
78$9,378,916$1,419,095$529,988$5,927,309
79$10,228,850$1,381,916$441,027$6,386,346
80$11,162,116$1,339,553$345,724$6,890,332
81$12,187,108$1,291,647$243,762$7,443,905
82$13,313,072$1,237,817$134,807$8,052,182
83$14,550,196$1,177,660$18,513$8,720,810
84$15,909,700$1,110,749$0$9,456,017
85$17,403,948$1,036,635$0$10,284,957
86$19,046,561$954,840$0$11,200,045
87$20,852,543$864,860$0$12,206,159
88$22,838,428$766,164$0$13,312,607
89$25,022,429$658,187$0$14,529,648
90$27,424,614$540,336$0$15,868,594
91$30,067,094$411,981$0$17,341,917
92$32,974,229$272,460$0$18,963,367
93$36,172,862$121,072$0$20,748,105
94$39,692,566$0$0$22,712,844
95$43,565,927$0$0$24,890,181
96$47,828,849$0$0$27,330,649
97$52,520,895$0$0$30,016,947
98$57,685,654$0$0$32,974,052
99$63,371,159$0$0$36,229,486
100$69,630,335$0$0$39,813,576