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%15.8%
1 years$160,203$158,776$157,384$156,025$154,698$151,020
2 years$79,309$77,832$76,400$75,012$73,666$69,981
3 years$52,347$50,864$49,436$48,061$46,737$43,161
4 years$38,869$37,390$35,977$34,625$33,333$29,894
5 years$30,784$29,314$27,919$26,596$25,339$22,047
6 years$25,396$23,937$22,563$21,269$20,050$16,907
7 years$21,549$20,103$18,750$17,486$16,306$13,313
8 years$18,665$17,232$15,901$14,669$13,527$10,683
9 years$16,423$15,003$13,696$12,494$11,392$8,695
10 years$14,631$13,225$11,940$10,770$9,707$7,153
11 years$13,165$11,773$10,512$9,373$8,348$5,934
12 years$11,945$10,567$9,329$8,222$7,234$4,956
13 years$10,913$9,549$8,335$7,259$6,308$4,162
14 years$10,029$8,680$7,489$6,443$5,530$3,511
15 years$9,264$7,929$6,762$5,746$4,869$2,972
16 years$8,595$7,275$6,130$5,145$4,303$2,524
17 years$8,005$6,700$5,578$4,623$3,816$2,148
18 years$7,482$6,191$5,092$4,166$3,393$1,833
19 years$7,014$5,738$4,662$3,765$3,024$1,566
20 years$6,593$5,332$4,278$3,409$2,701$1,340
21 years$6,213$4,967$3,935$3,094$2,417$1,149
22 years$5,868$4,636$3,627$2,813$2,167$986
23 years$5,554$4,336$3,349$2,562$1,945$846
24 years$5,266$4,063$3,097$2,337$1,748$727
25 years$5,002$3,813$2,869$2,134$1,573$625
26 years$4,758$3,583$2,660$1,951$1,417$538
27 years$4,533$3,372$2,470$1,786$1,277$463
28 years$4,324$3,178$2,297$1,637$1,153$399
29 years$4,130$2,998$2,137$1,501$1,041$344
30 years$3,949$2,831$1,991$1,377$940$296
31 years$3,780$2,676$1,856$1,265$850$255
32 years$3,622$2,532$1,732$1,163$769$220
33 years$3,474$2,398$1,617$1,069$696$190
34 years$3,335$2,273$1,511$984$630$164
35 years$3,204$2,156$1,412$905$571$141
36 years$3,081$2,046$1,321$834$517$122
37 years$2,965$1,943$1,237$768$469$105
38 years$2,855$1,847$1,158$708$425$91
39 years$2,751$1,756$1,085$653$385$78
40 years$2,652$1,671$1,017$602$350$68
41 years$2,559$1,591$954$556$317$58
42 years$2,470$1,515$894$513$288$50
43 years$2,385$1,443$839$473$261$44
44 years$2,305$1,376$788$437$237$38
45 years$2,228$1,312$740$404$215$32
46 years$2,155$1,251$695$373$195$28
47 years$2,086$1,194$653$345$177$24
48 years$2,019$1,140$613$318$161$21
49 years$1,955$1,089$577$294$146$18
50 years$1,894$1,040$542$272$133$16

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 $4,936 every year, while hoping to spend $44,150 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: 38/32/30 Blend
53$1,940,000$1,940,000$1,940,000$1,940,000
54$2,142,971$2,040,151$2,010,081$2,205,126
55$2,314,579$2,093,144$2,030,444$2,304,448
56$2,502,211$2,147,253$2,050,009$2,407,346
57$2,707,456$2,202,487$2,068,703$2,517,730
58$2,932,060$2,258,853$2,086,449$2,636,310
59$3,177,951$2,316,357$2,103,165$2,763,869
60$3,447,247$2,375,004$2,118,766$2,901,271
61$3,742,283$2,434,796$2,133,162$3,049,467
62$4,065,631$2,495,736$2,146,258$3,209,503
63$4,420,122$2,557,823$2,157,954$3,382,536
64$4,808,874$2,621,056$2,168,145$3,569,839
65$5,235,323$2,685,432$2,176,722$3,772,813
66$5,703,252$2,750,944$2,183,568$3,993,007
67$6,216,828$2,817,585$2,188,562$4,232,125
68$6,780,643$2,885,344$2,191,577$4,492,046
69$7,399,751$2,954,209$2,192,478$4,774,843
70$8,079,725$3,024,165$2,191,125$5,082,799
71$8,826,700$3,095,191$2,187,370$5,418,432
72$9,647,435$3,167,268$2,181,059$5,784,519
73$10,549,379$3,240,370$2,172,030$6,184,117
74$11,540,735$3,314,467$2,160,112$6,620,602
75$12,630,542$3,389,528$2,145,128$7,097,692
76$13,828,757$3,465,515$2,126,890$7,619,487
77$15,146,353$3,542,387$2,105,203$8,190,507
78$16,595,415$3,620,099$2,079,862$8,815,734
79$18,189,262$3,698,599$2,050,652$9,500,663
80$19,942,567$3,777,830$2,017,349$10,251,349
81$21,871,496$3,857,731$1,979,717$11,074,467
82$23,993,862$3,938,232$1,937,511$11,977,379
83$26,329,290$4,019,260$1,890,471$12,968,199
84$28,899,405$4,100,732$1,838,330$14,055,870
85$31,728,035$4,182,558$1,780,805$15,250,253
86$34,841,433$4,264,642$1,717,600$16,562,219
87$38,268,528$4,346,878$1,648,408$18,003,751
88$42,041,194$4,429,152$1,572,907$19,588,058
89$46,194,555$4,511,339$1,490,758$21,329,703
90$50,767,311$4,593,305$1,401,609$23,244,739
91$55,802,106$4,674,907$1,305,093$25,350,859
92$61,345,932$4,755,988$1,200,824$27,667,572
93$67,450,565$4,836,381$1,088,401$30,216,378
94$74,173,063$4,915,904$967,402$33,020,980
95$81,576,296$4,994,363$837,391$36,107,505
96$89,729,543$5,071,551$697,908$39,504,752
97$98,709,143$5,147,244$548,474$43,244,467
98$108,599,219$5,221,202$388,591$47,361,640
99$119,492,467$5,293,169$217,737$51,894,844
100$131,491,035$5,362,871$35,367$56,886,591