Can I retire at age 54 with 1,420,000?

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 $1,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$117,262$116,218$115,199$114,204$113,233$110,947
2 years$58,051$56,969$55,922$54,906$53,920$51,627
3 years$38,316$37,230$36,185$35,179$34,209$31,980
4 years$28,451$27,368$26,333$25,344$24,398$22,251
5 years$22,533$21,457$20,436$19,467$18,547$16,488
6 years$18,589$17,521$16,515$15,568$14,676$12,706
7 years$15,773$14,714$13,724$12,799$11,935$10,056
8 years$13,662$12,613$11,639$10,737$9,902$8,112
9 years$12,021$10,982$10,025$9,145$8,339$6,638
10 years$10,709$9,680$8,740$7,883$7,105$5,491
11 years$9,636$8,617$7,694$6,861$6,110$4,582
12 years$8,743$7,735$6,829$6,018$5,295$3,849
13 years$7,988$6,990$6,101$5,313$4,617$3,252
14 years$7,341$6,354$5,482$4,716$4,048$2,760
15 years$6,781$5,804$4,949$4,206$3,564$2,351
16 years$6,291$5,325$4,487$3,766$3,150$2,009
17 years$5,860$4,904$4,083$3,384$2,793$1,721
18 years$5,476$4,532$3,727$3,049$2,483$1,478
19 years$5,134$4,200$3,412$2,755$2,213$1,272
20 years$4,826$3,903$3,132$2,496$1,977$1,096
21 years$4,548$3,635$2,880$2,265$1,769$946
22 years$4,295$3,393$2,655$2,059$1,586$817
23 years$4,065$3,174$2,451$1,875$1,424$707
24 years$3,855$2,974$2,267$1,711$1,280$611
25 years$3,661$2,791$2,100$1,562$1,151$530
26 years$3,483$2,623$1,947$1,428$1,037$459
27 years$3,318$2,468$1,808$1,307$935$398
28 years$3,165$2,326$1,681$1,198$844$345
29 years$3,023$2,194$1,564$1,098$762$300
30 years$2,891$2,072$1,457$1,008$688$260
31 years$2,767$1,959$1,358$926$622$226
32 years$2,651$1,854$1,267$851$563$196
33 years$2,543$1,755$1,183$782$509$171
34 years$2,441$1,664$1,106$720$461$148
35 years$2,346$1,578$1,034$663$418$129
36 years$2,255$1,498$967$610$379$112
37 years$2,170$1,422$905$562$343$98
38 years$2,090$1,352$848$518$311$85
39 years$2,014$1,285$794$478$282$74
40 years$1,941$1,223$744$441$256$64
41 years$1,873$1,164$698$407$232$56
42 years$1,808$1,109$655$375$211$49
43 years$1,746$1,056$614$347$191$42
44 years$1,687$1,007$577$320$173$37
45 years$1,631$960$541$295$158$32
46 years$1,578$916$509$273$143$28
47 years$1,527$874$478$252$130$24
48 years$1,478$835$449$233$118$21
49 years$1,431$797$422$215$107$18
50 years$1,386$761$397$199$97$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,420,000, adding $5,260 every year, while hoping to spend $47,312 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: 42/36/22 Blend
53$1,420,000$1,420,000$1,420,000$1,420,000
54$1,570,266$1,495,006$1,472,996$1,625,903
55$1,680,093$1,517,921$1,472,001$1,688,947
56$1,799,537$1,540,374$1,469,388$1,752,223
57$1,929,529$1,562,292$1,465,052$1,819,790
58$2,071,093$1,583,596$1,458,883$1,892,069
59$2,225,356$1,604,204$1,450,767$1,969,523
60$2,393,559$1,624,026$1,440,584$2,052,666
61$2,577,067$1,642,968$1,428,208$2,142,066
62$2,777,382$1,660,928$1,413,508$2,238,350
63$2,996,160$1,677,798$1,396,345$2,342,211
64$3,235,220$1,693,463$1,376,575$2,454,416
65$3,496,569$1,707,798$1,354,047$2,575,812
66$3,782,413$1,720,674$1,328,601$2,707,336
67$4,095,182$1,731,951$1,300,072$2,850,021
68$4,437,554$1,741,479$1,268,288$3,005,012
69$4,812,474$1,749,101$1,233,065$3,173,571
70$5,223,188$1,754,649$1,194,214$3,357,093
71$5,673,270$1,757,943$1,151,537$3,557,121
72$6,166,656$1,758,795$1,104,826$3,775,357
73$6,707,680$1,757,001$1,053,863$4,013,683
74$7,301,118$1,752,349$998,422$4,274,175
75$7,952,228$1,744,610$938,265$4,559,128
76$8,666,803$1,733,544$873,145$4,871,076
77$9,451,223$1,718,893$802,801$5,212,817
78$10,312,516$1,700,388$726,964$5,587,440
79$11,258,426$1,677,740$645,350$5,998,354
80$12,297,480$1,650,644$557,664$6,449,327
81$13,439,075$1,618,777$463,597$6,944,514
82$14,693,561$1,581,797$362,828$7,488,505
83$16,072,340$1,539,342$255,020$8,086,363
84$17,587,977$1,491,028$139,821$8,743,678
85$19,254,311$1,436,448$16,865$9,466,620
86$21,086,590$1,375,173$0$10,261,998
87$23,101,614$1,306,749$0$11,164,168
88$25,317,893$1,230,694$0$12,160,546
89$27,755,819$1,146,499$0$13,256,417
90$30,437,863$1,053,627$0$14,461,976
91$33,388,779$951,510$0$15,788,465
92$36,635,846$839,545$0$17,248,283
93$40,209,119$717,099$0$18,855,099
94$44,141,712$583,500$0$20,623,986
95$48,470,114$438,040$0$22,571,564
96$53,234,531$279,969$0$24,716,159
97$58,479,264$108,497$0$27,077,974
98$64,253,125$0$0$29,679,287
99$70,609,903$0$0$32,575,245
100$77,608,866$0$0$35,811,311