Can I retire at age 54 with 1,600,000?

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 $1,600,000?

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$132,127$130,950$129,801$128,681$127,586$125,010
2 years$65,409$64,191$63,010$61,866$60,755$58,171
3 years$43,173$41,950$40,772$39,638$38,546$36,034
4 years$32,057$30,837$29,671$28,557$27,491$25,072
5 years$25,389$24,177$23,026$21,934$20,898$18,578
6 years$20,945$19,742$18,609$17,541$16,536$14,317
7 years$17,773$16,579$15,464$14,422$13,448$11,331
8 years$15,394$14,212$13,115$12,098$11,157$9,140
9 years$13,545$12,374$11,296$10,305$9,396$7,479
10 years$12,067$10,907$9,848$8,883$8,005$6,187
11 years$10,858$9,710$8,670$7,731$6,885$5,162
12 years$9,851$8,715$7,694$6,781$5,966$4,337
13 years$9,000$7,876$6,874$5,986$5,203$3,664
14 years$8,271$7,159$6,177$5,314$4,561$3,110
15 years$7,640$6,540$5,577$4,739$4,016$2,649
16 years$7,089$6,000$5,056$4,243$3,549$2,264
17 years$6,602$5,526$4,601$3,813$3,147$1,940
18 years$6,171$5,106$4,200$3,436$2,798$1,666
19 years$5,785$4,732$3,845$3,105$2,494$1,433
20 years$5,438$4,398$3,529$2,812$2,228$1,235
21 years$5,124$4,096$3,246$2,552$1,993$1,066
22 years$4,840$3,824$2,991$2,320$1,787$921
23 years$4,581$3,576$2,762$2,113$1,604$796
24 years$4,343$3,351$2,554$1,927$1,442$689
25 years$4,125$3,144$2,366$1,760$1,297$597
26 years$3,924$2,955$2,194$1,609$1,169$517
27 years$3,738$2,781$2,038$1,473$1,054$449
28 years$3,566$2,621$1,894$1,350$951$389
29 years$3,406$2,472$1,763$1,238$858$338
30 years$3,257$2,335$1,642$1,136$776$293
31 years$3,118$2,207$1,531$1,043$701$255
32 years$2,987$2,088$1,428$959$634$221
33 years$2,865$1,978$1,333$882$574$192
34 years$2,751$1,875$1,246$811$520$167
35 years$2,643$1,778$1,165$747$471$145
36 years$2,541$1,688$1,090$688$427$126
37 years$2,445$1,603$1,020$634$387$110
38 years$2,355$1,523$955$584$350$96
39 years$2,269$1,448$895$539$318$83
40 years$2,187$1,378$839$497$288$72
41 years$2,110$1,312$786$458$262$63
42 years$2,037$1,249$738$423$237$55
43 years$1,967$1,190$692$390$215$48
44 years$1,901$1,135$650$361$195$41
45 years$1,838$1,082$610$333$177$36
46 years$1,778$1,032$573$308$161$31
47 years$1,720$985$538$284$146$27
48 years$1,665$940$506$263$133$24
49 years$1,612$898$476$243$121$21
50 years$1,562$858$447$224$110$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,600,000, adding $2,383 every year, while hoping to spend $41,072 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: 88/7/5 Blend
53$1,600,000$1,600,000$1,600,000$1,600,000
54$1,765,658$1,680,858$1,656,058$1,921,034
55$1,902,055$1,719,520$1,667,836$2,061,132
56$2,050,988$1,758,699$1,678,631$2,209,127
57$2,213,692$1,798,379$1,688,369$2,370,462
58$2,391,527$1,838,538$1,696,968$2,546,451
59$2,585,990$1,879,154$1,704,344$2,738,541
60$2,798,731$1,920,202$1,710,409$2,948,324
61$3,031,563$1,961,654$1,715,069$3,177,553
62$3,286,487$2,003,479$1,718,228$3,428,159
63$3,565,702$2,045,643$1,719,782$3,702,269
64$3,871,633$2,088,109$1,719,624$4,002,226
65$4,206,949$2,130,836$1,717,641$4,330,610
66$4,574,590$2,173,779$1,713,715$4,690,262
67$4,977,794$2,216,891$1,707,720$5,084,313
68$5,420,128$2,260,117$1,699,528$5,516,211
69$5,905,520$2,303,402$1,689,001$5,989,755
70$6,438,297$2,346,682$1,675,997$6,509,128
71$7,023,225$2,389,892$1,660,364$7,078,941
72$7,665,555$2,432,957$1,641,947$7,704,272
73$8,371,070$2,475,801$1,620,581$8,390,716
74$9,146,143$2,518,338$1,596,094$9,144,436
75$9,997,791$2,560,478$1,568,304$9,972,224
76$10,933,747$2,602,123$1,537,024$10,881,562
77$11,962,531$2,643,169$1,502,056$11,880,692
78$13,093,527$2,683,502$1,463,193$12,978,699
79$14,337,076$2,723,003$1,420,219$14,185,589
80$15,704,569$2,761,541$1,372,908$15,512,389
81$17,208,557$2,798,979$1,321,022$16,971,248
82$18,862,869$2,835,168$1,264,315$18,575,553
83$20,682,740$2,869,950$1,202,529$20,340,054
84$22,684,958$2,903,156$1,135,392$22,281,005
85$24,888,018$2,934,605$1,062,622$24,416,315
86$27,312,300$2,964,104$983,924$26,765,717
87$29,980,258$2,991,449$898,989$29,350,957
88$32,916,635$3,016,420$807,495$32,195,995
89$36,148,691$3,038,784$709,106$35,327,235
90$39,706,465$3,058,293$603,469$38,773,771
91$43,623,057$3,074,681$490,217$42,567,663
92$47,934,937$3,087,669$368,967$46,744,238
93$52,682,291$3,096,956$239,319$51,342,427
94$57,909,403$3,102,224$100,854$56,405,127
95$63,665,066$3,103,137$0$61,979,610
96$70,003,047$3,099,335$0$68,120,470
97$76,982,592$3,090,437$0$74,888,513
98$84,668,988$3,076,039$0$82,341,633
99$93,134,171$3,055,712$0$90,549,563
100$102,457,416$3,029,001$0$99,589,143