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

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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$82,579$81,843$81,126$80,425$79,741$77,004
2 years$40,881$40,119$39,381$38,666$37,972$35,242
3 years$26,983$26,218$25,482$24,774$24,091$21,454
4 years$20,036$19,273$18,545$17,848$17,182$14,658
5 years$15,868$15,111$14,391$13,709$13,061$10,658
6 years$13,091$12,339$11,630$10,963$10,335$8,053
7 years$11,108$10,362$9,665$9,013$8,405$6,245
8 years$9,621$8,882$8,197$7,561$6,973$4,932
9 years$8,466$7,734$7,060$6,440$5,872$3,949
10 years$7,542$6,817$6,155$5,552$5,003$3,194
11 years$6,786$6,069$5,419$4,832$4,303$2,604
12 years$6,157$5,447$4,809$4,238$3,729$2,137
13 years$5,625$4,922$4,296$3,742$3,252$1,762
14 years$5,170$4,474$3,860$3,321$2,850$1,459
15 years$4,775$4,087$3,485$2,962$2,510$1,212
16 years$4,430$3,750$3,160$2,652$2,218$1,009
17 years$4,126$3,454$2,875$2,383$1,967$842
18 years$3,857$3,191$2,625$2,148$1,749$704
19 years$3,615$2,958$2,403$1,940$1,559$590
20 years$3,399$2,748$2,205$1,757$1,392$494
21 years$3,203$2,560$2,029$1,595$1,246$415
22 years$3,025$2,390$1,870$1,450$1,117$349
23 years$2,863$2,235$1,726$1,321$1,002$293
24 years$2,714$2,094$1,596$1,205$901$247
25 years$2,578$1,965$1,479$1,100$811$207
26 years$2,453$1,847$1,371$1,006$730$175
27 years$2,336$1,738$1,273$921$658$147
28 years$2,229$1,638$1,184$844$594$124
29 years$2,129$1,545$1,102$774$537$104
30 years$2,036$1,459$1,026$710$485$88
31 years$1,949$1,380$957$652$438$74
32 years$1,867$1,305$893$599$396$63
33 years$1,791$1,236$833$551$359$53
34 years$1,719$1,172$779$507$325$45
35 years$1,652$1,111$728$467$294$38
36 years$1,588$1,055$681$430$267$32
37 years$1,528$1,002$637$396$242$27
38 years$1,472$952$597$365$219$23
39 years$1,418$905$559$337$199$19
40 years$1,367$861$524$310$180$16
41 years$1,319$820$492$286$163$14
42 years$1,273$781$461$264$148$11
43 years$1,230$744$433$244$135$10
44 years$1,188$709$406$225$122$8
45 years$1,149$676$381$208$111$7
46 years$1,111$645$358$192$101$6
47 years$1,075$616$336$178$91$5
48 years$1,041$588$316$164$83$4
49 years$1,008$561$297$152$75$3
50 years$976$536$279$140$69$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,000,000, adding $6,424 every year, while hoping to spend $56,039 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: 82/12/6 Blend
53$1,000,000$1,000,000$1,000,000$1,000,000
54$1,108,626$1,055,626$1,040,126$1,198,573
55$1,162,081$1,047,727$1,015,346$1,250,410
56$1,219,110$1,037,562$987,856$1,299,131
57$1,280,019$1,024,962$957,509$1,350,880
58$1,345,142$1,009,746$924,147$1,405,927
59$1,414,846$991,724$887,605$1,464,568
60$1,489,534$970,692$847,713$1,527,132
61$1,569,646$946,436$804,292$1,593,980
62$1,655,668$918,729$757,154$1,665,509
63$1,748,130$887,331$706,102$1,742,158
64$1,847,617$851,987$650,934$1,824,408
65$1,954,768$812,429$591,435$1,912,792
66$2,070,288$768,371$527,381$2,007,897
67$2,194,948$719,513$458,539$2,110,368
68$2,329,599$665,535$384,667$2,220,918
69$2,475,174$606,102$305,509$2,340,332
70$2,632,698$540,857$220,799$2,469,476
71$2,803,298$469,424$130,261$2,609,305
72$2,988,215$391,406$33,605$2,760,871
73$3,188,811$306,383$0$2,925,335
74$3,406,586$213,912$0$3,108,427
75$3,643,188$113,524$0$3,309,693
76$3,900,431$4,724$0$3,528,556
77$4,180,310$0$0$3,766,752
78$4,485,021$0$0$4,041,119
79$4,816,980$0$0$4,340,721
80$5,178,844$0$0$4,667,336
81$5,573,541$0$0$5,023,606
82$6,004,290$0$0$5,412,443
83$6,474,637$0$0$5,837,049
84$6,988,482$0$0$6,300,949
85$7,550,124$0$0$6,808,026
86$8,164,290$0$0$7,362,552
87$8,836,189$0$0$7,969,233
88$9,571,555$0$0$8,633,251
89$10,376,701$0$0$9,360,310
90$11,258,581$0$0$10,156,692
91$12,224,851$0$0$11,029,317
92$13,283,945$0$0$11,985,804
93$14,445,149$0$0$13,034,544
94$15,718,693$0$0$14,184,781
95$17,115,843$0$0$15,446,695
96$18,649,008$0$0$16,831,499
97$20,331,857$0$0$18,351,543
98$22,179,448$0$0$20,020,434
99$24,208,365$0$0$21,853,158
100$26,436,881$0$0$23,866,226