Can I retire at age 54 with 1,640,000?

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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$135,430$134,223$133,046$131,898$130,776$126,793
2 years$67,044$65,796$64,586$63,412$62,274$58,296
3 years$44,252$42,998$41,791$40,629$39,509$35,660
4 years$32,858$31,608$30,413$29,271$28,178$24,487
5 years$26,024$24,781$23,602$22,483$21,421$17,899
6 years$21,469$20,236$19,074$17,980$16,950$13,599
7 years$18,217$16,994$15,850$14,782$13,784$10,606
8 years$15,779$14,567$13,442$12,400$11,436$8,426
9 years$13,884$12,683$11,578$10,562$9,630$6,787
10 years$12,368$11,180$10,094$9,105$8,206$5,525
11 years$11,129$9,953$8,887$7,924$7,057$4,534
12 years$10,098$8,933$7,887$6,950$6,116$3,745
13 years$9,225$8,073$7,046$6,136$5,333$3,109
14 years$8,478$7,338$6,331$5,447$4,675$2,592
15 years$7,831$6,703$5,716$4,858$4,116$2,168
16 years$7,266$6,150$5,182$4,350$3,638$1,819
17 years$6,767$5,664$4,716$3,908$3,225$1,529
18 years$6,325$5,234$4,305$3,522$2,868$1,288
19 years$5,929$4,851$3,941$3,182$2,556$1,087
20 years$5,574$4,507$3,617$2,882$2,283$918
21 years$5,253$4,199$3,327$2,616$2,043$777
22 years$4,961$3,919$3,066$2,378$1,832$658
23 years$4,695$3,666$2,831$2,166$1,644$557
24 years$4,452$3,434$2,618$1,976$1,478$472
25 years$4,228$3,223$2,425$1,804$1,330$401
26 years$4,022$3,029$2,249$1,650$1,198$340
27 years$3,832$2,851$2,088$1,510$1,080$289
28 years$3,655$2,686$1,941$1,383$974$245
29 years$3,491$2,534$1,807$1,269$880$208
30 years$3,338$2,393$1,683$1,164$795$177
31 years$3,196$2,262$1,569$1,069$719$151
32 years$3,062$2,141$1,464$983$650$128
33 years$2,937$2,027$1,367$904$588$109
34 years$2,819$1,921$1,277$831$533$93
35 years$2,709$1,822$1,194$765$483$79
36 years$2,605$1,730$1,117$705$437$67
37 years$2,506$1,643$1,045$650$396$57
38 years$2,413$1,561$979$599$359$48
39 years$2,325$1,485$917$552$326$41
40 years$2,242$1,412$860$509$295$35
41 years$2,163$1,345$806$470$268$30
42 years$2,088$1,281$756$434$243$25
43 years$2,017$1,220$710$400$221$22
44 years$1,949$1,163$666$370$200$18
45 years$1,884$1,109$625$341$182$16
46 years$1,822$1,058$587$315$165$13
47 years$1,763$1,010$552$291$150$11
48 years$1,707$964$519$269$136$10
49 years$1,653$920$487$249$124$8
50 years$1,601$879$458$230$112$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,640,000, adding $6,124 every year, while hoping to spend $36,181 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: 40/31/29 Blend
53$1,640,000$1,640,000$1,640,000$1,640,000
54$1,813,597$1,726,677$1,701,257$1,870,409
55$1,960,087$1,772,788$1,719,753$1,958,465
56$2,120,307$1,819,945$1,737,655$2,049,870
57$2,295,619$1,868,163$1,754,907$2,148,080
58$2,487,522$1,917,453$1,771,447$2,253,741
59$2,697,669$1,967,827$1,787,209$2,367,567
60$2,927,877$2,019,297$1,802,127$2,490,342
61$3,180,151$2,071,873$1,816,129$2,622,931
62$3,456,696$2,125,564$1,829,138$2,766,287
63$3,759,942$2,180,380$1,841,078$2,921,460
64$4,092,565$2,236,328$1,851,863$3,089,609
65$4,457,512$2,293,413$1,861,406$3,272,007
66$4,858,031$2,351,643$1,869,615$3,470,060
67$5,297,696$2,411,020$1,876,394$3,685,317
68$5,780,449$2,471,547$1,881,640$3,919,485
69$6,310,627$2,533,225$1,885,247$4,174,445
70$6,893,011$2,596,054$1,887,104$4,452,271
71$7,532,868$2,660,030$1,887,091$4,755,247
72$8,235,998$2,725,149$1,885,086$5,085,893
73$9,008,793$2,791,405$1,880,960$5,446,985
74$9,858,294$2,858,787$1,874,576$5,841,583
75$10,792,258$2,927,286$1,865,792$6,273,061
76$11,819,231$2,996,886$1,854,460$6,745,135
77$12,948,630$3,067,571$1,840,421$7,261,906
78$14,190,829$3,139,320$1,823,514$7,827,889
79$15,557,257$3,212,110$1,803,565$8,448,065
80$17,060,508$3,285,915$1,780,395$9,127,922
81$18,714,457$3,360,702$1,753,816$9,873,510
82$20,534,394$3,436,439$1,723,631$10,691,498
83$22,537,162$3,513,084$1,689,633$11,589,237
84$24,741,323$3,590,596$1,651,606$12,574,830
85$27,167,328$3,668,925$1,609,324$13,657,208
86$29,837,710$3,748,017$1,562,552$14,846,216
87$32,777,300$3,827,813$1,511,041$16,152,706
88$36,013,457$3,908,248$1,454,532$17,588,639
89$39,576,326$3,989,249$1,392,756$19,167,199
90$43,499,128$4,070,739$1,325,430$20,902,920
91$47,818,465$4,152,631$1,252,258$22,811,819
92$52,574,671$4,234,832$1,172,931$24,911,554
93$57,812,190$4,317,241$1,087,126$27,221,584
94$63,579,994$4,399,748$994,507$29,763,363
95$69,932,051$4,482,232$894,720$32,560,531
96$76,927,824$4,564,565$787,397$35,639,152
97$84,632,841$4,646,608$672,154$39,027,947
98$93,119,309$4,728,211$548,589$42,758,577
99$102,466,796$4,809,209$416,284$46,865,937
100$112,762,979$4,889,431$274,799$51,388,489