Can I retire at age 54 with 1,010,000?

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 $1,010,000?

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%
1 years$83,405$82,662$81,937$81,230$80,539$78,211
2 years$41,290$40,521$39,775$39,053$38,352$36,026
3 years$27,253$26,481$25,737$25,021$24,332$22,080
4 years$20,236$19,466$18,730$18,027$17,354$15,193
5 years$16,027$15,262$14,535$13,846$13,192$11,128
6 years$13,222$12,462$11,747$11,073$10,438$8,474
7 years$11,219$10,466$9,762$9,104$8,489$6,623
8 years$9,717$8,971$8,279$7,637$7,043$5,275
9 years$8,550$7,811$7,130$6,505$5,931$4,259
10 years$7,617$6,885$6,216$5,607$5,053$3,476
11 years$6,854$6,129$5,473$4,880$4,346$2,860
12 years$6,219$5,501$4,857$4,280$3,766$2,368
13 years$5,681$4,972$4,339$3,779$3,284$1,971
14 years$5,221$4,519$3,899$3,355$2,879$1,648
15 years$4,823$4,128$3,520$2,992$2,535$1,382
16 years$4,475$3,788$3,192$2,679$2,240$1,163
17 years$4,168$3,488$2,904$2,407$1,986$981
18 years$3,895$3,223$2,651$2,169$1,766$829
19 years$3,652$2,987$2,427$1,960$1,574$701
20 years$3,433$2,776$2,227$1,775$1,406$594
21 years$3,235$2,586$2,049$1,611$1,258$504
22 years$3,055$2,414$1,888$1,465$1,128$428
23 years$2,891$2,257$1,743$1,334$1,013$364
24 years$2,742$2,115$1,612$1,217$910$310
25 years$2,604$1,985$1,493$1,111$819$264
26 years$2,477$1,865$1,385$1,016$738$224
27 years$2,360$1,756$1,286$930$665$191
28 years$2,251$1,654$1,196$852$600$163
29 years$2,150$1,561$1,113$781$542$139
30 years$2,056$1,474$1,036$717$490$118
31 years$1,968$1,393$966$659$443$101
32 years$1,886$1,318$901$605$400$86
33 years$1,809$1,248$842$557$362$73
34 years$1,736$1,183$786$512$328$63
35 years$1,668$1,122$735$471$297$54
36 years$1,604$1,065$688$434$269$46
37 years$1,544$1,012$644$400$244$39
38 years$1,486$962$603$369$221$33
39 years$1,432$914$565$340$201$28
40 years$1,381$870$529$314$182$24
41 years$1,332$828$496$289$165$21
42 years$1,286$789$466$267$150$18
43 years$1,242$751$437$246$136$15
44 years$1,200$716$410$228$123$13
45 years$1,160$683$385$210$112$11
46 years$1,122$652$362$194$102$9
47 years$1,086$622$340$179$92$8
48 years$1,051$594$319$166$84$7
49 years$1,018$567$300$153$76$6
50 years$986$541$282$142$69$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,010,000, adding $3,283 every year, while hoping to spend $25,964 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: 78/13/9 Blend
53$1,010,000$1,010,000$1,010,000$1,010,000
54$1,116,406$1,062,876$1,047,221$1,201,669
55$1,202,654$1,087,332$1,054,678$1,282,591
56$1,296,829$1,112,115$1,061,514$1,367,633
57$1,399,713$1,137,216$1,067,681$1,460,144
58$1,512,164$1,162,620$1,073,129$1,560,856
59$1,635,131$1,188,314$1,077,805$1,670,577
60$1,769,655$1,214,282$1,081,652$1,790,195
61$1,916,884$1,240,507$1,084,612$1,920,689
62$2,078,082$1,266,968$1,086,623$2,063,138
63$2,254,642$1,293,644$1,087,619$2,218,728
64$2,448,095$1,320,512$1,087,535$2,388,768
65$2,660,130$1,347,547$1,086,296$2,574,699
66$2,892,606$1,374,720$1,083,830$2,778,108
67$3,147,571$1,402,000$1,080,057$3,000,743
68$3,427,279$1,429,354$1,074,895$3,244,532
69$3,734,216$1,456,746$1,068,258$3,511,596
70$4,071,116$1,484,137$1,060,055$3,804,274
71$4,440,995$1,511,485$1,050,192$4,125,142
72$4,847,172$1,538,743$1,038,569$4,477,039
73$5,293,305$1,565,863$1,025,082$4,863,092
74$5,783,422$1,592,790$1,009,623$5,286,747
75$6,321,963$1,619,469$992,077$5,751,800
76$6,913,817$1,645,837$972,325$6,262,437
77$7,564,371$1,671,827$950,243$6,823,266
78$8,279,559$1,697,370$925,699$7,439,367
79$9,065,921$1,722,388$898,557$8,116,337
80$9,930,661$1,746,800$868,674$8,860,345
81$10,881,714$1,770,519$835,900$9,678,186
82$11,927,825$1,793,451$800,080$10,577,351
83$13,078,630$1,815,496$761,048$11,566,091
84$14,344,742$1,836,548$718,636$12,653,501
85$15,737,860$1,856,492$672,664$13,849,603
86$17,270,868$1,875,208$622,945$15,165,439
87$18,957,968$1,892,564$569,285$16,613,181
88$20,814,804$1,908,423$511,479$18,206,237
89$22,858,615$1,922,637$449,315$19,959,388
90$25,108,398$1,935,050$382,571$21,888,918
91$27,585,082$1,945,495$311,014$24,012,774
92$30,311,730$1,953,793$234,403$26,350,733
93$33,313,754$1,959,757$152,483$28,924,591
94$36,619,157$1,963,186$64,992$31,758,364
95$40,258,794$1,963,865$0$34,878,521
96$44,266,666$1,961,569$0$38,316,954
97$48,680,237$1,956,057$0$42,109,918
98$53,540,791$1,947,073$0$46,286,618
99$58,893,819$1,934,347$0$50,886,118
100$64,789,450$1,917,591$0$55,951,467