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

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$160,203$158,776$157,384$156,025$154,698$150,289
2 years$79,309$77,832$76,400$75,012$73,666$69,257
3 years$52,347$50,864$49,436$48,061$46,737$42,468
4 years$38,869$37,390$35,977$34,625$33,333$29,236
5 years$30,784$29,314$27,919$26,596$25,339$21,426
6 years$25,396$23,937$22,563$21,269$20,050$16,324
7 years$21,549$20,103$18,750$17,486$16,306$12,767
8 years$18,665$17,232$15,901$14,669$13,527$10,173
9 years$16,423$15,003$13,696$12,494$11,392$8,219
10 years$14,631$13,225$11,940$10,770$9,707$6,711
11 years$13,165$11,773$10,512$9,373$8,348$5,525
12 years$11,945$10,567$9,329$8,222$7,234$4,579
13 years$10,913$9,549$8,335$7,259$6,308$3,814
14 years$10,029$8,680$7,489$6,443$5,530$3,191
15 years$9,264$7,929$6,762$5,746$4,869$2,678
16 years$8,595$7,275$6,130$5,145$4,303$2,255
17 years$8,005$6,700$5,578$4,623$3,816$1,903
18 years$7,482$6,191$5,092$4,166$3,393$1,609
19 years$7,014$5,738$4,662$3,765$3,024$1,363
20 years$6,593$5,332$4,278$3,409$2,701$1,156
21 years$6,213$4,967$3,935$3,094$2,417$981
22 years$5,868$4,636$3,627$2,813$2,167$834
23 years$5,554$4,336$3,349$2,562$1,945$710
24 years$5,266$4,063$3,097$2,337$1,748$604
25 years$5,002$3,813$2,869$2,134$1,573$515
26 years$4,758$3,583$2,660$1,951$1,417$438
27 years$4,533$3,372$2,470$1,786$1,277$374
28 years$4,324$3,178$2,297$1,637$1,153$319
29 years$4,130$2,998$2,137$1,501$1,041$272
30 years$3,949$2,831$1,991$1,377$940$232
31 years$3,780$2,676$1,856$1,265$850$198
32 years$3,622$2,532$1,732$1,163$769$169
33 years$3,474$2,398$1,617$1,069$696$144
34 years$3,335$2,273$1,511$984$630$123
35 years$3,204$2,156$1,412$905$571$105
36 years$3,081$2,046$1,321$834$517$90
37 years$2,965$1,943$1,237$768$469$77
38 years$2,855$1,847$1,158$708$425$66
39 years$2,751$1,756$1,085$653$385$56
40 years$2,652$1,671$1,017$602$350$48
41 years$2,559$1,591$954$556$317$41
42 years$2,470$1,515$894$513$288$35
43 years$2,385$1,443$839$473$261$30
44 years$2,305$1,376$788$437$237$26
45 years$2,228$1,312$740$404$215$22
46 years$2,155$1,251$695$373$195$19
47 years$2,086$1,194$653$345$177$16
48 years$2,019$1,140$613$318$161$14
49 years$1,955$1,089$577$294$146$12
50 years$1,894$1,040$542$272$133$10

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 $3,573 every year, while hoping to spend $43,137 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: 71/20/9 Blend
53$1,940,000$1,940,000$1,940,000$1,940,000
54$2,141,566$2,038,746$2,008,676$2,289,855
55$2,314,108$2,092,747$2,030,069$2,442,401
56$2,502,804$2,147,948$2,050,733$2,603,667
57$2,709,255$2,204,363$2,070,598$2,779,010
58$2,935,226$2,262,004$2,089,590$2,969,805
59$3,182,660$2,320,883$2,107,632$3,177,568
60$3,453,695$2,381,010$2,124,641$3,403,967
61$3,750,687$2,442,394$2,140,532$3,650,841
62$4,076,231$2,505,046$2,155,214$3,920,211
63$4,433,184$2,568,971$2,168,591$4,214,307
64$4,824,694$2,634,175$2,180,564$4,535,584
65$5,254,226$2,700,663$2,191,026$4,886,744
66$5,725,599$2,768,438$2,199,868$5,270,765
67$6,243,019$2,837,500$2,206,972$5,690,928
68$6,811,118$2,907,848$2,212,216$6,150,845
69$7,434,999$2,979,479$2,215,472$6,654,498
70$8,120,284$3,052,389$2,216,606$7,206,271
71$8,873,166$3,126,569$2,215,475$7,810,995
72$9,700,467$3,202,010$2,211,932$8,473,992
73$10,609,704$3,278,697$2,205,821$9,201,126
74$11,609,156$3,356,615$2,196,978$9,998,858
75$12,707,946$3,435,745$2,185,233$10,874,304
76$13,916,124$3,516,065$2,170,406$11,835,308
77$15,244,763$3,597,546$2,152,309$12,890,510
78$16,706,063$3,680,160$2,130,745$14,049,431
79$18,313,466$3,763,872$2,105,509$15,322,561
80$20,081,779$3,848,642$2,076,384$16,721,460
81$22,027,322$3,934,427$2,043,144$18,258,865
82$24,168,072$4,021,177$2,005,552$19,948,810
83$26,523,838$4,108,837$1,963,361$21,806,760
84$29,116,447$4,197,347$1,916,311$23,849,756
85$31,969,948$4,286,641$1,864,131$26,096,575
86$35,110,840$4,376,644$1,806,537$28,567,910
87$38,568,322$4,467,276$1,743,232$31,286,562
88$42,374,567$4,558,448$1,673,906$34,277,656
89$46,565,025$4,650,065$1,598,235$37,568,880
90$51,178,760$4,742,020$1,515,878$41,190,744
91$56,258,815$4,834,201$1,426,482$45,176,870
92$61,852,620$4,926,483$1,329,675$49,564,308
93$68,012,439$5,018,732$1,225,070$54,393,885
94$74,795,861$5,110,803$1,112,264$59,710,594
95$82,266,346$5,202,539$990,831$65,564,016
96$90,493,822$5,293,772$860,332$72,008,785
97$99,555,343$5,384,319$720,306$79,105,113
98$109,535,821$5,473,984$570,269$86,919,348
99$120,528,822$5,562,556$409,720$95,524,608
100$132,637,450$5,649,809$238,133$105,001,468