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%18.7%
1 years$82,579$81,843$81,126$80,425$79,741$76,943
2 years$40,881$40,119$39,381$38,666$37,972$35,182
3 years$26,983$26,218$25,482$24,774$24,091$21,397
4 years$20,036$19,273$18,545$17,848$17,182$14,605
5 years$15,868$15,111$14,391$13,709$13,061$10,608
6 years$13,091$12,339$11,630$10,963$10,335$8,006
7 years$11,108$10,362$9,665$9,013$8,405$6,202
8 years$9,621$8,882$8,197$7,561$6,973$4,892
9 years$8,466$7,734$7,060$6,440$5,872$3,912
10 years$7,542$6,817$6,155$5,552$5,003$3,160
11 years$6,786$6,069$5,419$4,832$4,303$2,573
12 years$6,157$5,447$4,809$4,238$3,729$2,109
13 years$5,625$4,922$4,296$3,742$3,252$1,736
14 years$5,170$4,474$3,860$3,321$2,850$1,435
15 years$4,775$4,087$3,485$2,962$2,510$1,191
16 years$4,430$3,750$3,160$2,652$2,218$990
17 years$4,126$3,454$2,875$2,383$1,967$825
18 years$3,857$3,191$2,625$2,148$1,749$689
19 years$3,615$2,958$2,403$1,940$1,559$576
20 years$3,399$2,748$2,205$1,757$1,392$482
21 years$3,203$2,560$2,029$1,595$1,246$404
22 years$3,025$2,390$1,870$1,450$1,117$339
23 years$2,863$2,235$1,726$1,321$1,002$285
24 years$2,714$2,094$1,596$1,205$901$239
25 years$2,578$1,965$1,479$1,100$811$201
26 years$2,453$1,847$1,371$1,006$730$169
27 years$2,336$1,738$1,273$921$658$142
28 years$2,229$1,638$1,184$844$594$119
29 years$2,129$1,545$1,102$774$537$100
30 years$2,036$1,459$1,026$710$485$85
31 years$1,949$1,380$957$652$438$71
32 years$1,867$1,305$893$599$396$60
33 years$1,791$1,236$833$551$359$50
34 years$1,719$1,172$779$507$325$42
35 years$1,652$1,111$728$467$294$36
36 years$1,588$1,055$681$430$267$30
37 years$1,528$1,002$637$396$242$25
38 years$1,472$952$597$365$219$21
39 years$1,418$905$559$337$199$18
40 years$1,367$861$524$310$180$15
41 years$1,319$820$492$286$163$13
42 years$1,273$781$461$264$148$11
43 years$1,230$744$433$244$135$9
44 years$1,188$709$406$225$122$8
45 years$1,149$676$381$208$111$6
46 years$1,111$645$358$192$101$5
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 $6,095 every year, while hoping to spend $56,603 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: 54/31/15 Blend
53$1,000,000$1,000,000$1,000,000$1,000,000
54$1,108,287$1,055,287$1,039,787$1,163,408
55$1,161,107$1,046,771$1,014,395$1,193,142
56$1,217,418$1,035,940$986,255$1,218,910
57$1,277,515$1,022,622$955,215$1,245,677
58$1,341,724$1,006,633$921,117$1,273,553
59$1,410,400$987,779$883,795$1,302,661
60$1,483,934$965,853$843,075$1,333,138
61$1,562,753$940,637$798,775$1,365,141
62$1,647,326$911,900$750,706$1,398,844
63$1,738,168$879,398$698,670$1,434,444
64$1,835,845$842,873$642,460$1,472,161
65$1,940,977$802,050$581,858$1,512,241
66$2,054,246$756,639$516,639$1,554,963
67$2,176,400$706,335$446,567$1,600,633
68$2,308,261$650,814$371,396$1,649,600
69$2,450,733$589,733$290,866$1,702,249
70$2,604,808$522,730$204,711$1,759,012
71$2,771,578$449,423$112,648$1,820,370
72$2,952,242$369,409$14,386$1,886,861
73$3,148,121$282,259$0$1,959,085
74$3,360,663$187,524$0$2,052,188
75$3,591,465$84,727$0$2,155,833
76$3,842,281$0$0$2,268,594
77$4,115,042$0$0$2,400,532
78$4,411,871$0$0$2,575,649
79$4,735,105$0$0$2,766,432
80$5,087,316$0$0$2,974,408
81$5,471,333$0$0$3,201,261
82$5,890,270$0$0$3,448,842
83$6,347,556$0$0$3,719,189
84$6,846,965$0$0$4,014,547
85$7,392,650$0$0$4,337,384
86$7,989,184$0$0$4,690,422
87$8,641,603$0$0$5,076,655
88$9,355,451$0$0$5,499,379
89$10,136,832$0$0$5,962,226
90$10,992,469$0$0$6,469,193
91$11,929,763$0$0$7,024,684
92$12,956,868$0$0$7,633,547
93$14,082,760$0$0$8,301,123
94$15,317,329$0$0$9,033,294
95$16,671,464$0$0$9,836,538
96$18,157,162$0$0$10,717,991
97$19,787,636$0$0$11,685,513
98$21,577,439$0$0$12,747,763
99$23,542,602$0$0$13,914,278
100$25,700,787$0$0$15,195,564