Can I retire at age 54 with 1,710,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$141,210$139,952$138,725$137,527$136,358$133,824
2 years$69,906$68,604$67,342$66,119$64,932$62,389
3 years$46,141$44,834$43,575$42,363$41,196$38,722
4 years$34,261$32,957$31,711$30,520$29,381$26,996
5 years$27,135$25,839$24,609$23,442$22,335$20,046
6 years$22,385$21,099$19,888$18,747$17,673$15,482
7 years$18,994$17,719$16,527$15,413$14,373$12,280
8 years$16,452$15,189$14,016$12,930$11,924$9,929
9 years$14,476$13,225$12,072$11,013$10,041$8,144
10 years$12,896$11,657$10,525$9,493$8,556$6,754
11 years$11,604$10,377$9,266$8,262$7,358$5,650
12 years$10,529$9,314$8,223$7,247$6,377$4,759
13 years$9,619$8,417$7,347$6,398$5,560$4,031
14 years$8,840$7,651$6,601$5,679$4,874$3,430
15 years$8,166$6,989$5,960$5,065$4,292$2,930
16 years$7,576$6,413$5,404$4,535$3,793$2,511
17 years$7,056$5,906$4,917$4,075$3,363$2,158
18 years$6,595$5,457$4,489$3,672$2,990$1,858
19 years$6,182$5,058$4,109$3,318$2,665$1,604
20 years$5,812$4,700$3,771$3,005$2,381$1,386
21 years$5,477$4,378$3,469$2,727$2,131$1,200
22 years$5,173$4,086$3,197$2,480$1,910$1,040
23 years$4,895$3,822$2,952$2,258$1,714$902
24 years$4,642$3,581$2,730$2,060$1,541$783
25 years$4,409$3,361$2,529$1,881$1,386$680
26 years$4,194$3,158$2,345$1,720$1,249$592
27 years$3,995$2,972$2,178$1,574$1,126$515
28 years$3,811$2,801$2,024$1,443$1,016$448
29 years$3,640$2,642$1,884$1,323$917$390
30 years$3,481$2,495$1,755$1,214$829$340
31 years$3,332$2,359$1,636$1,115$749$296
32 years$3,193$2,232$1,526$1,025$678$258
33 years$3,062$2,114$1,425$942$614$225
34 years$2,940$2,003$1,332$867$555$196
35 years$2,825$1,900$1,245$798$503$171
36 years$2,716$1,804$1,165$735$456$149
37 years$2,613$1,713$1,090$677$413$130
38 years$2,516$1,628$1,021$624$375$114
39 years$2,425$1,548$956$576$340$99
40 years$2,338$1,473$896$531$308$87
41 years$2,255$1,402$841$490$280$76
42 years$2,177$1,335$788$452$254$66
43 years$2,103$1,272$740$417$230$58
44 years$2,032$1,213$694$385$209$50
45 years$1,964$1,156$652$356$190$44
46 years$1,900$1,103$612$329$172$38
47 years$1,838$1,053$575$304$156$33
48 years$1,780$1,005$541$281$142$29
49 years$1,723$960$508$259$129$26
50 years$1,670$917$478$240$117$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,710,000, adding $5,246 every year, while hoping to spend $33,559 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: 73/12/15 Blend
53$1,710,000$1,710,000$1,710,000$1,710,000
54$1,889,831$1,799,201$1,772,696$2,021,127
55$2,046,888$1,851,656$1,796,375$2,161,257
56$2,218,839$1,905,555$1,819,722$2,310,085
57$2,407,169$1,960,936$1,842,692$2,472,220
58$2,613,512$2,017,834$1,865,234$2,648,974
59$2,839,668$2,076,285$1,887,296$2,841,790
60$3,087,618$2,136,327$1,908,825$3,052,261
61$3,359,545$2,197,998$1,929,761$3,282,137
62$3,657,855$2,261,336$1,950,044$3,533,348
63$3,985,194$2,326,379$1,969,609$3,808,019
64$4,344,481$2,393,169$1,988,388$4,108,493
65$4,738,928$2,461,744$2,006,309$4,437,347
66$5,172,075$2,532,146$2,023,296$4,797,423
67$5,647,821$2,604,415$2,039,271$5,191,850
68$6,170,461$2,678,594$2,054,149$5,624,077
69$6,744,727$2,754,724$2,067,842$6,097,900
70$7,375,832$2,832,848$2,080,257$6,617,506
71$8,069,519$2,913,010$2,091,297$7,187,505
72$8,832,114$2,995,251$2,100,860$7,812,975
73$9,670,588$3,079,617$2,108,838$8,499,513
74$10,592,621$3,166,152$2,115,117$9,253,286
75$11,606,674$3,254,899$2,119,579$10,081,087
76$12,722,069$3,345,903$2,122,099$10,990,402
77$13,949,077$3,439,209$2,122,546$11,989,480
78$15,299,014$3,534,862$2,120,783$13,087,408
79$16,784,350$3,632,906$2,116,665$14,294,200
80$18,418,822$3,733,387$2,110,042$15,620,892
81$20,217,568$3,836,349$2,100,754$17,079,641
82$22,197,267$3,941,837$2,088,637$18,683,845
83$24,376,296$4,049,896$2,073,515$20,448,267
84$26,774,907$4,160,569$2,055,205$22,389,175
85$29,415,411$4,273,900$2,033,518$24,524,495
86$32,322,394$4,389,933$2,008,253$26,873,979
87$35,522,948$4,508,709$1,979,199$29,459,396
88$39,046,924$4,630,271$1,946,137$32,304,729
89$42,927,216$4,754,660$1,908,838$35,436,411
90$47,200,068$4,881,915$1,867,061$38,883,568
91$51,905,422$5,012,075$1,820,554$42,678,296
92$57,087,286$5,145,178$1,769,054$46,855,963
93$62,794,157$5,281,259$1,712,285$51,455,544
94$69,079,474$5,420,354$1,649,959$56,519,990
95$76,002,123$5,562,494$1,581,776$62,096,628
96$83,626,993$5,707,710$1,507,419$68,237,616
97$92,025,589$5,856,030$1,426,560$75,000,428
98$101,276,703$6,007,480$1,338,854$82,448,401
99$111,467,164$6,162,083$1,243,942$90,651,331
100$122,692,648$6,319,859$1,141,448$99,686,132