Can I retire at age 54 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$160,203$158,776$157,384$156,025$154,698$148,502
2 years$79,309$77,832$76,400$75,012$73,666$67,501
3 years$52,347$50,864$49,436$48,061$46,737$40,797
4 years$38,869$37,390$35,977$34,625$33,333$27,664
5 years$30,784$29,314$27,919$26,596$25,339$19,956
6 years$25,396$23,937$22,563$21,269$20,050$14,955
7 years$21,549$20,103$18,750$17,486$16,306$11,498
8 years$18,665$17,232$15,901$14,669$13,527$9,001
9 years$16,423$15,003$13,696$12,494$11,392$7,140
10 years$14,631$13,225$11,940$10,770$9,707$5,721
11 years$13,165$11,773$10,512$9,373$8,348$4,619
12 years$11,945$10,567$9,329$8,222$7,234$3,752
13 years$10,913$9,549$8,335$7,259$6,308$3,062
14 years$10,029$8,680$7,489$6,443$5,530$2,509
15 years$9,264$7,929$6,762$5,746$4,869$2,062
16 years$8,595$7,275$6,130$5,145$4,303$1,698
17 years$8,005$6,700$5,578$4,623$3,816$1,402
18 years$7,482$6,191$5,092$4,166$3,393$1,159
19 years$7,014$5,738$4,662$3,765$3,024$960
20 years$6,593$5,332$4,278$3,409$2,701$795
21 years$6,213$4,967$3,935$3,094$2,417$660
22 years$5,868$4,636$3,627$2,813$2,167$548
23 years$5,554$4,336$3,349$2,562$1,945$455
24 years$5,266$4,063$3,097$2,337$1,748$378
25 years$5,002$3,813$2,869$2,134$1,573$315
26 years$4,758$3,583$2,660$1,951$1,417$262
27 years$4,533$3,372$2,470$1,786$1,277$218
28 years$4,324$3,178$2,297$1,637$1,153$181
29 years$4,130$2,998$2,137$1,501$1,041$151
30 years$3,949$2,831$1,991$1,377$940$126
31 years$3,780$2,676$1,856$1,265$850$105
32 years$3,622$2,532$1,732$1,163$769$87
33 years$3,474$2,398$1,617$1,069$696$73
34 years$3,335$2,273$1,511$984$630$60
35 years$3,204$2,156$1,412$905$571$50
36 years$3,081$2,046$1,321$834$517$42
37 years$2,965$1,943$1,237$768$469$35
38 years$2,855$1,847$1,158$708$425$29
39 years$2,751$1,756$1,085$653$385$24
40 years$2,652$1,671$1,017$602$350$20
41 years$2,559$1,591$954$556$317$17
42 years$2,470$1,515$894$513$288$14
43 years$2,385$1,443$839$473$261$12
44 years$2,305$1,376$788$437$237$10
45 years$2,228$1,312$740$404$215$8
46 years$2,155$1,251$695$373$195$7
47 years$2,086$1,194$653$345$177$6
48 years$2,019$1,140$613$318$161$5
49 years$1,955$1,089$577$294$146$4
50 years$1,894$1,040$542$272$133$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,940,000, adding $5,824 every year, while hoping to spend $32,527 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: 77/11/12 Blend
53$1,940,000$1,940,000$1,940,000$1,940,000
54$2,143,887$2,041,067$2,010,997$2,303,569
55$2,327,956$2,106,471$2,043,757$2,474,940
56$2,529,708$2,173,990$2,076,525$2,658,086
57$2,750,915$2,243,692$2,109,265$2,857,991
58$2,993,526$2,315,650$2,141,942$3,076,313
59$3,259,686$2,389,937$2,174,518$3,314,878
60$3,551,760$2,466,630$2,206,951$3,575,695
61$3,872,353$2,545,809$2,239,197$3,860,979
62$4,224,333$2,627,553$2,271,210$4,173,166
63$4,610,861$2,711,949$2,302,941$4,514,943
64$5,035,417$2,799,083$2,334,338$4,889,267
65$5,501,837$2,889,045$2,365,346$5,299,396
66$6,014,345$2,981,929$2,395,905$5,748,918
67$6,577,595$3,077,831$2,425,956$6,241,787
68$7,196,716$3,176,851$2,455,431$6,782,356
69$7,877,355$3,279,090$2,484,262$7,375,422
70$8,625,736$3,384,657$2,512,376$8,026,269
71$9,448,716$3,493,661$2,539,696$8,740,720
72$10,353,850$3,606,215$2,566,140$9,525,187
73$11,349,460$3,722,437$2,591,623$10,386,736
74$12,444,718$3,842,449$2,616,055$11,333,151
75$13,649,726$3,966,376$2,639,340$12,373,010
76$14,975,619$4,094,348$2,661,378$13,515,760
77$16,434,661$4,226,501$2,682,064$14,771,815
78$18,040,369$4,362,972$2,701,285$16,152,643
79$19,807,634$4,503,905$2,718,926$17,670,884
80$21,752,865$4,649,449$2,734,863$19,340,463
81$23,894,143$4,799,757$2,748,966$21,176,724
82$26,251,389$4,954,989$2,761,100$23,196,574
83$28,846,556$5,115,309$2,771,122$25,418,641
84$31,703,832$5,280,886$2,778,882$27,863,450
85$34,849,871$5,451,897$2,784,222$30,553,621
86$38,314,041$5,628,524$2,786,977$33,514,073
87$42,128,705$5,810,953$2,786,973$36,772,269
88$46,329,524$5,999,381$2,784,028$40,358,468
89$50,955,792$6,194,008$2,777,950$44,306,013
90$56,050,811$6,395,042$2,768,539$48,651,646
91$61,662,294$6,602,699$2,755,585$53,435,852
92$67,842,818$6,817,202$2,738,868$58,703,246
93$74,650,322$7,038,781$2,718,156$64,502,986
94$82,148,648$7,267,675$2,693,207$70,889,245
95$90,408,150$7,504,130$2,663,769$77,921,718
96$99,506,351$7,748,402$2,629,575$85,666,183
97$109,528,681$8,000,756$2,590,348$94,195,126
98$120,569,277$8,261,464$2,545,796$103,588,425
99$132,731,878$8,530,811$2,495,614$113,934,098
100$146,130,797$8,809,088$2,439,485$125,329,142