Can I retire at age 54 with 1,050,000?

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 $1,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$86,708$85,936$85,182$84,447$83,728$81,638
2 years$42,925$42,125$41,351$40,599$39,871$37,778
3 years$28,332$27,529$26,757$26,012$25,296$23,266
4 years$21,037$20,237$19,472$18,740$18,041$16,090
5 years$16,662$15,866$15,111$14,394$13,715$11,847
6 years$13,745$12,956$12,212$11,511$10,852$9,071
7 years$11,663$10,880$10,148$9,464$8,825$7,130
8 years$10,102$9,326$8,606$7,939$7,322$5,712
9 years$8,889$8,120$7,413$6,762$6,166$4,640
10 years$7,919$7,158$6,463$5,829$5,254$3,810
11 years$7,125$6,372$5,690$5,073$4,518$3,155
12 years$6,465$5,719$5,049$4,450$3,915$2,630
13 years$5,906$5,168$4,511$3,929$3,414$2,204
14 years$5,428$4,698$4,053$3,487$2,993$1,855
15 years$5,014$4,292$3,660$3,110$2,635$1,567
16 years$4,652$3,938$3,318$2,785$2,329$1,328
17 years$4,333$3,626$3,019$2,502$2,065$1,128
18 years$4,049$3,351$2,756$2,255$1,836$960
19 years$3,796$3,106$2,523$2,037$1,637$819
20 years$3,569$2,886$2,316$1,845$1,462$699
21 years$3,363$2,688$2,130$1,675$1,308$598
22 years$3,176$2,509$1,963$1,523$1,173$512
23 years$3,006$2,347$1,813$1,387$1,053$438
24 years$2,850$2,199$1,676$1,265$946$376
25 years$2,707$2,063$1,553$1,155$851$322
26 years$2,575$1,939$1,440$1,056$767$277
27 years$2,453$1,825$1,337$967$691$238
28 years$2,340$1,720$1,243$886$624$204
29 years$2,235$1,622$1,157$812$563$176
30 years$2,137$1,532$1,077$745$509$151
31 years$2,046$1,448$1,004$685$460$130
32 years$1,961$1,371$937$629$416$112
33 years$1,880$1,298$875$579$377$96
34 years$1,805$1,230$818$532$341$83
35 years$1,734$1,167$764$490$309$71
36 years$1,668$1,107$715$451$280$61
37 years$1,605$1,052$669$416$254$53
38 years$1,545$1,000$627$383$230$45
39 years$1,489$951$587$353$209$39
40 years$1,436$904$550$326$189$34
41 years$1,385$861$516$301$172$29
42 years$1,337$820$484$278$156$25
43 years$1,291$781$454$256$141$21
44 years$1,248$745$426$237$128$18
45 years$1,206$710$400$218$116$16
46 years$1,167$677$376$202$106$14
47 years$1,129$646$353$186$96$12
48 years$1,093$617$332$172$87$10
49 years$1,058$589$312$159$79$9
50 years$1,025$563$293$147$72$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,050,000, adding $6,338 every year, while hoping to spend $29,834 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: 37/41/22 Blend
53$1,050,000$1,050,000$1,050,000$1,050,000
54$1,163,638$1,107,988$1,091,713$1,198,792
55$1,250,586$1,130,536$1,096,542$1,247,536
56$1,345,402$1,153,189$1,100,533$1,296,912
57$1,448,859$1,175,921$1,103,626$1,349,643
58$1,561,804$1,198,703$1,105,759$1,406,048
59$1,685,172$1,221,503$1,106,867$1,466,480
60$1,819,992$1,244,289$1,106,879$1,531,328
61$1,967,396$1,267,024$1,105,724$1,601,022
62$2,128,631$1,289,668$1,103,326$1,676,036
63$2,305,069$1,312,180$1,099,605$1,756,894
64$2,498,222$1,334,513$1,094,478$1,844,173
65$2,709,755$1,356,619$1,087,858$1,938,512
66$2,941,501$1,378,444$1,079,652$2,040,614
67$3,195,479$1,399,933$1,069,765$2,151,257
68$3,473,912$1,421,023$1,058,096$2,271,297
69$3,779,248$1,441,651$1,044,540$2,401,682
70$4,114,185$1,461,745$1,028,986$2,543,456
71$4,481,694$1,481,233$1,011,318$2,697,772
72$4,885,046$1,500,032$991,417$2,865,902
73$5,327,845$1,518,059$969,154$3,049,251
74$5,814,063$1,535,221$944,399$3,249,368
75$6,348,073$1,551,423$917,011$3,467,964
76$6,934,692$1,566,558$886,847$3,706,925
77$7,579,229$1,580,518$853,754$3,968,332
78$8,287,530$1,593,183$817,575$4,254,485
79$9,066,038$1,604,428$778,143$4,567,918
80$9,921,848$1,614,119$735,285$4,911,426
81$10,862,779$1,622,114$688,820$5,288,097
82$11,897,447$1,628,261$638,560$5,701,335
83$13,035,340$1,632,400$584,305$6,154,894
84$14,286,915$1,634,358$525,850$6,652,918
85$15,663,693$1,633,955$462,979$7,199,977
86$17,178,367$1,630,996$395,466$7,801,113
87$18,844,923$1,625,277$323,076$8,461,886
88$20,678,770$1,616,580$245,564$9,188,430
89$22,696,887$1,604,674$162,672$9,987,511
90$24,917,981$1,589,315$74,134$10,866,590
91$27,362,666$1,570,243$0$11,833,897
92$30,053,655$1,547,182$0$12,903,288
93$33,015,975$1,519,841$0$14,098,874
94$36,277,203$1,487,912$0$15,414,347
95$39,867,724$1,451,066$0$16,861,956
96$43,821,021$1,408,957$0$18,455,202
97$48,173,988$1,361,219$0$20,208,971
98$52,967,279$1,307,463$0$22,139,671
99$58,245,691$1,247,278$0$24,265,391
100$64,058,588$1,180,231$0$26,606,070