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%16.9%
1 years$160,203$158,776$157,384$156,025$154,698$150,349
2 years$79,309$77,832$76,400$75,012$73,666$69,317
3 years$52,347$50,864$49,436$48,061$46,737$42,525
4 years$38,869$37,390$35,977$34,625$33,333$29,290
5 years$30,784$29,314$27,919$26,596$25,339$21,477
6 years$25,396$23,937$22,563$21,269$20,050$16,371
7 years$21,549$20,103$18,750$17,486$16,306$12,811
8 years$18,665$17,232$15,901$14,669$13,527$10,215
9 years$16,423$15,003$13,696$12,494$11,392$8,258
10 years$14,631$13,225$11,940$10,770$9,707$6,747
11 years$13,165$11,773$10,512$9,373$8,348$5,558
12 years$11,945$10,567$9,329$8,222$7,234$4,609
13 years$10,913$9,549$8,335$7,259$6,308$3,842
14 years$10,029$8,680$7,489$6,443$5,530$3,216
15 years$9,264$7,929$6,762$5,746$4,869$2,702
16 years$8,595$7,275$6,130$5,145$4,303$2,276
17 years$8,005$6,700$5,578$4,623$3,816$1,922
18 years$7,482$6,191$5,092$4,166$3,393$1,627
19 years$7,014$5,738$4,662$3,765$3,024$1,379
20 years$6,593$5,332$4,278$3,409$2,701$1,170
21 years$6,213$4,967$3,935$3,094$2,417$994
22 years$5,868$4,636$3,627$2,813$2,167$846
23 years$5,554$4,336$3,349$2,562$1,945$720
24 years$5,266$4,063$3,097$2,337$1,748$613
25 years$5,002$3,813$2,869$2,134$1,573$523
26 years$4,758$3,583$2,660$1,951$1,417$446
27 years$4,533$3,372$2,470$1,786$1,277$381
28 years$4,324$3,178$2,297$1,637$1,153$325
29 years$4,130$2,998$2,137$1,501$1,041$277
30 years$3,949$2,831$1,991$1,377$940$237
31 years$3,780$2,676$1,856$1,265$850$202
32 years$3,622$2,532$1,732$1,163$769$173
33 years$3,474$2,398$1,617$1,069$696$148
34 years$3,335$2,273$1,511$984$630$126
35 years$3,204$2,156$1,412$905$571$108
36 years$3,081$2,046$1,321$834$517$92
37 years$2,965$1,943$1,237$768$469$79
38 years$2,855$1,847$1,158$708$425$67
39 years$2,751$1,756$1,085$653$385$58
40 years$2,652$1,671$1,017$602$350$49
41 years$2,559$1,591$954$556$317$42
42 years$2,470$1,515$894$513$288$36
43 years$2,385$1,443$839$473$261$31
44 years$2,305$1,376$788$437$237$26
45 years$2,228$1,312$740$404$215$23
46 years$2,155$1,251$695$373$195$19
47 years$2,086$1,194$653$345$177$17
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 $2,998 every year, while hoping to spend $49,526 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: 76/11/13 Blend
53$1,940,000$1,940,000$1,940,000$1,940,000
54$2,140,972$2,038,152$2,008,082$2,297,816
55$2,306,656$2,085,327$2,022,658$2,448,849
56$2,487,580$2,133,152$2,036,062$2,607,841
57$2,685,246$2,181,610$2,048,202$2,780,762
58$2,901,308$2,230,675$2,058,984$2,968,982
59$3,137,586$2,280,323$2,068,304$3,174,010
60$3,396,085$2,330,524$2,076,058$3,397,507
61$3,679,013$2,381,247$2,082,134$3,641,303
62$3,988,800$2,432,456$2,086,413$3,907,414
63$4,328,123$2,484,112$2,088,773$4,198,062
64$4,699,930$2,536,172$2,089,085$4,515,692
65$5,107,467$2,588,588$2,087,214$4,863,001
66$5,554,309$2,641,309$2,083,016$5,242,957
67$6,044,394$2,694,279$2,076,342$5,658,832
68$6,582,059$2,747,436$2,067,037$6,114,232
69$7,172,082$2,800,713$2,054,936$6,613,126
70$7,819,725$2,854,039$2,039,867$7,159,893
71$8,530,785$2,907,334$2,021,650$7,759,352
72$9,311,646$2,960,515$2,000,096$8,416,818
73$10,169,343$3,013,489$1,975,008$9,138,143
74$11,111,624$3,066,158$1,946,179$9,929,780
75$12,147,025$3,118,415$1,913,392$10,798,835
76$13,284,951$3,170,147$1,876,420$11,753,142
77$14,535,762$3,221,230$1,835,025$12,801,331
78$15,910,871$3,271,531$1,788,960$13,952,914
79$17,422,853$3,320,910$1,737,964$15,218,372
80$19,085,564$3,369,215$1,681,766$16,609,254
81$20,914,268$3,416,282$1,620,081$18,138,287
82$22,925,781$3,461,938$1,552,611$19,819,498
83$25,138,633$3,505,996$1,479,047$21,668,341
84$27,573,241$3,548,257$1,399,062$23,701,849
85$30,252,099$3,588,508$1,312,318$25,938,792
86$33,199,991$3,626,523$1,218,458$28,399,854
87$36,444,227$3,662,060$1,117,114$31,107,830
88$40,014,897$3,694,859$1,007,896$34,087,839
89$43,945,156$3,724,647$890,399$37,367,563
90$48,271,536$3,751,129$764,203$40,977,510
91$53,034,293$3,773,995$628,863$44,951,298
92$58,277,781$3,792,911$483,921$49,325,975
93$64,050,876$3,807,524$328,893$54,142,372
94$70,407,432$3,817,460$163,278$59,445,481
95$77,406,794$3,822,319$0$65,284,888
96$85,114,350$3,821,676$0$71,717,104
97$93,602,158$3,815,082$0$78,824,773
98$102,949,616$3,802,059$0$86,651,665
99$113,244,215$3,782,098$0$95,270,999
100$124,582,366$3,754,662$0$104,763,455