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%14.2%
1 years$135,430$134,223$133,046$131,898$130,776$128,504
2 years$67,044$65,796$64,586$63,412$62,274$59,992
3 years$44,252$42,998$41,791$40,629$39,509$37,289
4 years$32,858$31,608$30,413$29,271$28,178$26,037
5 years$26,024$24,781$23,602$22,483$21,421$19,364
6 years$21,469$20,236$19,074$17,980$16,950$14,979
7 years$18,217$16,994$15,850$14,782$13,784$11,902
8 years$15,779$14,567$13,442$12,400$11,436$9,640
9 years$13,884$12,683$11,578$10,562$9,630$7,921
10 years$12,368$11,180$10,094$9,105$8,206$6,581
11 years$11,129$9,953$8,887$7,924$7,057$5,515
12 years$10,098$8,933$7,887$6,950$6,116$4,655
13 years$9,225$8,073$7,046$6,136$5,333$3,951
14 years$8,478$7,338$6,331$5,447$4,675$3,369
15 years$7,831$6,703$5,716$4,858$4,116$2,884
16 years$7,266$6,150$5,182$4,350$3,638$2,476
17 years$6,767$5,664$4,716$3,908$3,225$2,132
18 years$6,325$5,234$4,305$3,522$2,868$1,841
19 years$5,929$4,851$3,941$3,182$2,556$1,592
20 years$5,574$4,507$3,617$2,882$2,283$1,379
21 years$5,253$4,199$3,327$2,616$2,043$1,196
22 years$4,961$3,919$3,066$2,378$1,832$1,039
23 years$4,695$3,666$2,831$2,166$1,644$903
24 years$4,452$3,434$2,618$1,976$1,478$786
25 years$4,228$3,223$2,425$1,804$1,330$685
26 years$4,022$3,029$2,249$1,650$1,198$597
27 years$3,832$2,851$2,088$1,510$1,080$521
28 years$3,655$2,686$1,941$1,383$974$454
29 years$3,491$2,534$1,807$1,269$880$396
30 years$3,338$2,393$1,683$1,164$795$346
31 years$3,196$2,262$1,569$1,069$719$302
32 years$3,062$2,141$1,464$983$650$264
33 years$2,937$2,027$1,367$904$588$231
34 years$2,819$1,921$1,277$831$533$202
35 years$2,709$1,822$1,194$765$483$177
36 years$2,605$1,730$1,117$705$437$154
37 years$2,506$1,643$1,045$650$396$135
38 years$2,413$1,561$979$599$359$118
39 years$2,325$1,485$917$552$326$103
40 years$2,242$1,412$860$509$295$91
41 years$2,163$1,345$806$470$268$79
42 years$2,088$1,281$756$434$243$69
43 years$2,017$1,220$710$400$221$61
44 years$1,949$1,163$666$370$200$53
45 years$1,884$1,109$625$341$182$46
46 years$1,822$1,058$587$315$165$41
47 years$1,763$1,010$552$291$150$36
48 years$1,707$964$519$269$136$31
49 years$1,653$920$487$249$124$27
50 years$1,601$879$458$230$112$24

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 $3,600 every year, while hoping to spend $52,117 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: 67/13/20 Blend
53$1,640,000$1,640,000$1,640,000$1,640,000
54$1,810,993$1,724,073$1,698,653$1,923,050
55$1,940,263$1,753,101$1,700,106$2,027,570
56$2,080,971$1,781,804$1,699,861$2,135,466
57$2,234,229$1,810,112$1,697,806$2,252,205
58$2,401,261$1,837,948$1,693,823$2,378,656
59$2,583,414$1,865,232$1,687,790$2,515,776
60$2,782,168$1,891,874$1,679,577$2,664,621
61$2,999,156$1,917,783$1,669,050$2,826,355
62$3,236,173$1,942,857$1,656,066$3,002,261
63$3,495,195$1,966,989$1,640,476$3,193,752
64$3,778,398$1,990,065$1,622,126$3,402,389
65$4,088,180$2,011,963$1,600,852$3,629,890
66$4,427,177$2,032,552$1,576,483$3,878,150
67$4,798,294$2,051,693$1,548,841$4,149,257
68$5,204,732$2,069,237$1,517,739$4,445,516
69$5,650,012$2,085,027$1,482,980$4,769,466
70$6,138,014$2,098,895$1,444,361$5,123,905
71$6,673,011$2,110,660$1,401,667$5,511,921
72$7,259,709$2,120,133$1,354,673$5,936,915
73$7,903,290$2,127,110$1,303,145$6,402,639
74$8,609,464$2,131,377$1,246,839$6,913,227
75$9,384,519$2,132,704$1,185,498$7,473,239
76$10,235,381$2,130,848$1,118,854$8,087,701
77$11,169,682$2,125,551$1,046,627$8,762,153
78$12,195,825$2,116,538$968,524$9,502,704
79$13,323,069$2,103,520$884,240$10,316,087
80$14,561,616$2,086,186$793,456$11,209,727
81$15,922,702$2,064,210$695,838$12,191,805
82$17,418,707$2,037,245$591,038$13,271,344
83$19,063,268$2,004,924$478,691$14,458,288
84$20,871,412$1,966,855$358,417$15,763,600
85$22,859,693$1,922,628$229,821$17,199,365
86$25,046,350$1,871,805$92,488$18,778,904
87$27,451,477$1,813,923$0$20,516,902
88$30,097,214$1,748,492$0$22,441,085
89$33,007,956$1,674,994$0$24,579,571
90$36,210,580$1,592,881$0$26,932,370
91$39,734,700$1,501,573$0$29,521,268
92$43,612,944$1,400,455$0$32,370,274
93$47,881,267$1,288,880$0$35,505,842
94$52,579,283$1,166,161$0$38,957,129
95$57,750,641$1,031,574$0$42,756,262
96$63,443,438$884,353$0$46,938,649
97$69,710,671$723,689$0$51,543,307
98$76,610,735$548,726$0$56,613,236
99$84,207,978$358,561$0$62,195,821
100$92,573,303$152,241$0$68,343,282