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

Use the below retirement simulation to view the chances of a successful retirement.
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%11.5%
1 years$110,656$109,670$108,709$107,770$106,853$106,180
2 years$54,780$53,760$52,771$51,813$50,883$50,203
3 years$36,157$35,133$34,146$33,197$32,282$31,618
4 years$26,848$25,826$24,850$23,916$23,024$22,380
5 years$21,263$20,248$19,285$18,370$17,502$16,881
6 years$17,542$16,534$15,585$14,691$13,849$13,250
7 years$14,885$13,885$12,951$12,078$11,263$10,688
8 years$12,893$11,902$10,983$10,132$9,344$8,792
9 years$11,344$10,363$9,460$8,630$7,869$7,340
10 years$10,106$9,135$8,248$7,439$6,705$6,198
11 years$9,093$8,132$7,261$6,474$5,766$5,283
12 years$8,250$7,299$6,444$5,679$4,997$4,535
13 years$7,538$6,596$5,757$5,014$4,357$3,918
14 years$6,927$5,996$5,173$4,451$3,820$3,401
15 years$6,399$5,477$4,670$3,969$3,363$2,965
16 years$5,937$5,025$4,234$3,554$2,972$2,594
17 years$5,529$4,628$3,853$3,193$2,635$2,277
18 years$5,168$4,276$3,517$2,878$2,343$2,003
19 years$4,845$3,963$3,220$2,600$2,089$1,767
20 years$4,554$3,683$2,955$2,355$1,866$1,561
21 years$4,292$3,430$2,718$2,137$1,670$1,382
22 years$4,053$3,202$2,505$1,943$1,496$1,225
23 years$3,836$2,995$2,313$1,770$1,343$1,088
24 years$3,637$2,806$2,139$1,614$1,207$967
25 years$3,455$2,633$1,981$1,474$1,086$860
26 years$3,286$2,475$1,838$1,348$979$766
27 years$3,131$2,329$1,706$1,234$882$682
28 years$2,987$2,195$1,586$1,130$796$608
29 years$2,853$2,071$1,476$1,037$719$543
30 years$2,728$1,955$1,375$951$650$485
31 years$2,611$1,849$1,282$874$587$433
32 years$2,502$1,749$1,196$803$531$387
33 years$2,400$1,656$1,117$738$481$346
34 years$2,304$1,570$1,043$679$435$309
35 years$2,213$1,489$976$625$394$277
36 years$2,128$1,413$913$576$357$247
37 years$2,048$1,342$854$531$324$222
38 years$1,972$1,276$800$489$294$198
39 years$1,900$1,213$749$451$266$178
40 years$1,832$1,154$702$416$241$159
41 years$1,767$1,099$659$384$219$142
42 years$1,706$1,046$618$354$199$128
43 years$1,648$997$580$327$180$114
44 years$1,592$950$544$302$164$102
45 years$1,539$906$511$279$149$92
46 years$1,489$864$480$258$135$82
47 years$1,441$825$451$238$123$74
48 years$1,394$788$424$220$111$66
49 years$1,350$752$398$203$101$59
50 years$1,308$718$374$188$92$53

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 $6,357 every year, while hoping to spend $22,335 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$1,340,000$1,340,000$1,340,000$1,340,000
54$1,483,237$1,412,217$1,391,447$1,561,912
55$1,610,763$1,457,652$1,414,296$1,661,444
56$1,750,548$1,504,564$1,437,163$1,766,911
57$1,903,819$1,553,002$1,460,023$1,881,383
58$2,071,927$1,603,018$1,482,852$2,005,731
59$2,256,361$1,654,663$1,505,624$2,140,915
60$2,458,759$1,707,991$1,528,312$2,287,991
61$2,680,928$1,763,058$1,550,886$2,448,123
62$2,924,856$1,819,921$1,573,314$2,622,590
63$3,192,735$1,878,641$1,595,564$2,812,802
64$3,486,978$1,939,279$1,617,600$3,020,309
65$3,810,245$2,001,898$1,639,384$3,246,822
66$4,165,464$2,066,565$1,660,877$3,494,221
67$4,555,862$2,133,348$1,682,038$3,764,579
68$4,984,995$2,202,316$1,702,821$4,060,177
69$5,456,779$2,273,544$1,723,180$4,383,528
70$5,975,529$2,347,107$1,743,065$4,737,401
71$6,546,000$2,423,082$1,762,425$5,124,844
72$7,173,429$2,501,551$1,781,204$5,549,215
73$7,863,588$2,582,596$1,799,343$6,014,213
74$8,622,835$2,666,304$1,816,782$6,523,913
75$9,458,176$2,752,765$1,833,456$7,082,802
76$10,377,330$2,842,070$1,849,296$7,695,825
77$11,388,801$2,934,315$1,864,231$8,368,430
78$12,501,961$3,029,599$1,878,186$9,106,616
79$13,727,137$3,128,025$1,891,080$9,916,995
80$15,075,704$3,229,697$1,902,831$10,806,850
81$16,560,200$3,334,726$1,913,349$11,784,204
82$18,194,437$3,443,225$1,922,544$12,857,899
83$19,993,638$3,555,311$1,930,317$14,037,673
84$21,974,573$3,671,105$1,936,567$15,334,260
85$24,155,723$3,790,733$1,941,185$16,759,482
86$26,557,453$3,914,325$1,944,061$18,326,368
87$29,202,201$4,042,015$1,945,075$20,049,272
88$32,114,694$4,173,942$1,944,103$21,944,010
89$35,322,178$4,310,250$1,941,016$24,028,008
90$38,854,676$4,451,089$1,935,677$26,320,469
91$42,745,273$4,596,612$1,927,942$28,842,552
92$47,030,425$4,746,980$1,917,662$31,617,570
93$51,750,304$4,902,358$1,904,679$34,671,211
94$56,949,178$5,062,916$1,888,828$38,031,784
95$62,675,827$5,228,833$1,869,938$41,730,480
96$68,984,007$5,400,291$1,847,826$45,801,668
97$75,932,952$5,577,481$1,822,304$50,283,222
98$83,587,935$5,760,599$1,793,173$55,216,876
99$92,020,885$5,949,850$1,760,226$60,648,616
100$101,311,067$6,145,443$1,723,244$66,629,117