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%12.3%
1 years$117,262$116,218$115,199$114,204$113,233$112,144
2 years$58,051$56,969$55,922$54,906$53,920$52,823
3 years$38,316$37,230$36,185$35,179$34,209$33,138
4 years$28,451$27,368$26,333$25,344$24,398$23,361
5 years$22,533$21,457$20,436$19,467$18,547$17,548
6 years$18,589$17,521$16,515$15,568$14,676$13,715
7 years$15,773$14,714$13,724$12,799$11,935$11,013
8 years$13,662$12,613$11,639$10,737$9,902$9,018
9 years$12,021$10,982$10,025$9,145$8,339$7,494
10 years$10,709$9,680$8,740$7,883$7,105$6,298
11 years$9,636$8,617$7,694$6,861$6,110$5,341
12 years$8,743$7,735$6,829$6,018$5,295$4,563
13 years$7,988$6,990$6,101$5,313$4,617$3,921
14 years$7,341$6,354$5,482$4,716$4,048$3,386
15 years$6,781$5,804$4,949$4,206$3,564$2,936
16 years$6,291$5,325$4,487$3,766$3,150$2,555
17 years$5,860$4,904$4,083$3,384$2,793$2,230
18 years$5,476$4,532$3,727$3,049$2,483$1,951
19 years$5,134$4,200$3,412$2,755$2,213$1,711
20 years$4,826$3,903$3,132$2,496$1,977$1,503
21 years$4,548$3,635$2,880$2,265$1,769$1,323
22 years$4,295$3,393$2,655$2,059$1,586$1,166
23 years$4,065$3,174$2,451$1,875$1,424$1,028
24 years$3,855$2,974$2,267$1,711$1,280$908
25 years$3,661$2,791$2,100$1,562$1,151$803
26 years$3,483$2,623$1,947$1,428$1,037$711
27 years$3,318$2,468$1,808$1,307$935$629
28 years$3,165$2,326$1,681$1,198$844$558
29 years$3,023$2,194$1,564$1,098$762$494
30 years$2,891$2,072$1,457$1,008$688$438
31 years$2,767$1,959$1,358$926$622$389
32 years$2,651$1,854$1,267$851$563$345
33 years$2,543$1,755$1,183$782$509$307
34 years$2,441$1,664$1,106$720$461$272
35 years$2,346$1,578$1,034$663$418$242
36 years$2,255$1,498$967$610$379$215
37 years$2,170$1,422$905$562$343$191
38 years$2,090$1,352$848$518$311$170
39 years$2,014$1,285$794$478$282$151
40 years$1,941$1,223$744$441$256$134
41 years$1,873$1,164$698$407$232$120
42 years$1,808$1,109$655$375$211$106
43 years$1,746$1,056$614$347$191$95
44 years$1,687$1,007$577$320$173$84
45 years$1,631$960$541$295$158$75
46 years$1,578$916$509$273$143$67
47 years$1,527$874$478$252$130$59
48 years$1,478$835$449$233$118$53
49 years$1,431$797$422$215$107$47
50 years$1,386$761$397$199$97$42

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 $6,519 every year, while hoping to spend $59,861 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: 63/7/30 Blend
53$1,420,000$1,420,000$1,420,000$1,420,000
54$1,571,564$1,496,304$1,474,294$1,657,530
55$1,668,172$1,505,932$1,459,992$1,726,348
56$1,772,628$1,514,024$1,443,203$1,794,412
57$1,885,669$1,520,444$1,423,783$1,867,503
58$2,008,105$1,525,044$1,401,578$1,946,124
59$2,140,827$1,527,667$1,376,427$2,030,834
60$2,284,816$1,528,147$1,348,162$2,122,248
61$2,441,150$1,526,308$1,316,607$2,221,047
62$2,611,012$1,521,963$1,281,579$2,327,984
63$2,795,708$1,514,912$1,242,884$2,443,890
64$2,996,671$1,504,944$1,200,322$2,569,683
65$3,215,481$1,491,835$1,153,682$2,706,376
66$3,453,873$1,475,348$1,102,743$2,855,091
67$3,713,759$1,455,231$1,047,277$3,017,064
68$3,997,243$1,431,218$987,041$3,193,663
69$4,306,640$1,403,025$921,784$3,386,395
70$4,644,498$1,370,354$851,245$3,596,927
71$5,013,622$1,332,887$775,147$3,827,099
72$5,417,103$1,290,289$693,205$4,078,941
73$5,858,338$1,242,205$605,119$4,354,695
74$6,341,074$1,188,258$510,576$4,656,838
75$6,869,432$1,128,052$409,249$4,988,099
76$7,447,952$1,061,164$300,796$5,351,495
77$8,081,633$987,151$184,863$5,750,354
78$8,775,980$905,542$61,076$6,188,347
79$9,537,057$815,840$0$6,669,528
80$10,371,539$717,519$0$7,221,104
81$11,286,783$610,023$0$7,847,616
82$12,290,887$492,767$0$8,535,072
83$13,392,776$365,131$0$9,289,620
84$14,602,275$226,459$0$10,118,033
85$15,930,212$76,060$0$11,027,777
86$17,388,512$0$0$12,027,076
87$18,990,311$0$0$13,131,678
88$20,750,080$0$0$14,351,761
89$22,683,763$0$0$15,692,532
90$24,808,922$0$0$17,166,185
91$27,144,908$0$0$18,786,150
92$29,713,036$0$0$20,567,225
93$32,536,793$0$0$22,525,714
94$35,642,054$0$0$24,679,579
95$39,057,326$0$0$27,048,610
96$42,814,018$0$0$29,654,610
97$46,946,739$0$0$32,521,605
98$51,493,616$0$0$35,676,063
99$56,496,661$0$0$39,147,150
100$62,002,163$0$0$42,966,999