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%11.3%
1 years$132,127$130,950$129,801$128,681$127,586$126,889
2 years$65,409$64,191$63,010$61,866$60,755$60,051
3 years$43,173$41,950$40,772$39,638$38,546$37,857
4 years$32,057$30,837$29,671$28,557$27,491$26,823
5 years$25,389$24,177$23,026$21,934$20,898$20,253
6 years$20,945$19,742$18,609$17,541$16,536$15,915
7 years$17,773$16,579$15,464$14,422$13,448$12,851
8 years$15,394$14,212$13,115$12,098$11,157$10,583
9 years$13,545$12,374$11,296$10,305$9,396$8,846
10 years$12,067$10,907$9,848$8,883$8,005$7,479
11 years$10,858$9,710$8,670$7,731$6,885$6,382
12 years$9,851$8,715$7,694$6,781$5,966$5,486
13 years$9,000$7,876$6,874$5,986$5,203$4,745
14 years$8,271$7,159$6,177$5,314$4,561$4,124
15 years$7,640$6,540$5,577$4,739$4,016$3,601
16 years$7,089$6,000$5,056$4,243$3,549$3,155
17 years$6,602$5,526$4,601$3,813$3,147$2,772
18 years$6,171$5,106$4,200$3,436$2,798$2,443
19 years$5,785$4,732$3,845$3,105$2,494$2,158
20 years$5,438$4,398$3,529$2,812$2,228$1,909
21 years$5,124$4,096$3,246$2,552$1,993$1,693
22 years$4,840$3,824$2,991$2,320$1,787$1,503
23 years$4,581$3,576$2,762$2,113$1,604$1,336
24 years$4,343$3,351$2,554$1,927$1,442$1,189
25 years$4,125$3,144$2,366$1,760$1,297$1,059
26 years$3,924$2,955$2,194$1,609$1,169$945
27 years$3,738$2,781$2,038$1,473$1,054$843
28 years$3,566$2,621$1,894$1,350$951$753
29 years$3,406$2,472$1,763$1,238$858$673
30 years$3,257$2,335$1,642$1,136$776$602
31 years$3,118$2,207$1,531$1,043$701$538
32 years$2,987$2,088$1,428$959$634$482
33 years$2,865$1,978$1,333$882$574$432
34 years$2,751$1,875$1,246$811$520$387
35 years$2,643$1,778$1,165$747$471$346
36 years$2,541$1,688$1,090$688$427$310
37 years$2,445$1,603$1,020$634$387$278
38 years$2,355$1,523$955$584$350$250
39 years$2,269$1,448$895$539$318$224
40 years$2,187$1,378$839$497$288$201
41 years$2,110$1,312$786$458$262$180
42 years$2,037$1,249$738$423$237$162
43 years$1,967$1,190$692$390$215$145
44 years$1,901$1,135$650$361$195$130
45 years$1,838$1,082$610$333$177$117
46 years$1,778$1,032$573$308$161$105
47 years$1,720$985$538$284$146$94
48 years$1,665$940$506$263$133$85
49 years$1,612$898$476$243$121$76
50 years$1,562$858$447$224$110$68

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 $4,815 every year, while hoping to spend $57,741 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: 42/34/24 Blend
53$1,600,000$1,600,000$1,600,000$1,600,000
54$1,768,167$1,683,367$1,658,567$1,829,823
55$1,887,084$1,704,416$1,652,693$1,895,398
56$2,016,195$1,724,561$1,644,687$1,960,486
57$2,156,480$1,743,697$1,634,416$2,029,827
58$2,309,014$1,761,712$1,621,743$2,103,847
59$2,474,983$1,778,485$1,606,521$2,183,014
60$2,655,690$1,793,890$1,588,598$2,267,849
61$2,852,569$1,807,789$1,567,815$2,358,928
62$3,067,199$1,820,039$1,544,005$2,456,888
63$3,301,317$1,830,484$1,516,992$2,562,434
64$3,556,834$1,838,961$1,486,595$2,676,349
65$3,835,856$1,845,295$1,452,620$2,799,497
66$4,140,700$1,849,300$1,414,869$2,932,833
67$4,473,915$1,850,780$1,373,131$3,077,418
68$4,838,310$1,849,524$1,327,187$3,234,420
69$5,236,978$1,845,311$1,276,808$3,405,136
70$5,673,322$1,837,903$1,221,753$3,590,998
71$6,151,092$1,827,051$1,161,773$3,793,589
72$6,674,416$1,812,489$1,096,604$4,014,661
73$7,247,839$1,793,935$1,025,974$4,256,149
74$7,876,370$1,771,089$949,596$4,520,194
75$8,565,523$1,743,635$867,170$4,809,160
76$9,321,371$1,711,238$778,385$5,125,662
77$10,150,603$1,673,541$682,913$5,472,589
78$11,060,589$1,630,168$580,414$5,853,132
79$12,059,443$1,580,721$470,533$6,270,818
80$13,156,107$1,524,777$352,896$6,729,542
81$14,360,428$1,461,889$227,117$7,233,606
82$15,683,256$1,391,586$92,789$7,787,763
83$17,136,542$1,313,367$0$8,397,262
84$18,733,450$1,226,703$0$9,080,847
85$20,488,486$1,131,036$0$9,858,169
86$22,417,629$1,025,774$0$10,712,625
87$24,538,483$910,293$0$11,652,140
88$26,870,444$783,932$0$12,685,454
89$29,434,878$645,995$0$13,822,208
90$32,255,331$495,743$0$15,073,035
91$35,357,739$332,399$0$16,449,661
92$38,770,682$155,140$0$17,965,020
93$42,525,649$0$0$19,633,375
94$46,657,333$0$0$21,484,262
95$51,203,963$0$0$23,585,140
96$56,207,658$0$0$25,897,455
97$61,714,827$0$0$28,442,686
98$67,776,609$0$0$31,244,497
99$74,449,349$0$0$34,328,963
100$81,795,133$0$0$37,724,817