Can I retire at age 54 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$87,534$86,754$85,993$85,251$84,526$83,958
2 years$43,334$42,527$41,744$40,986$40,250$39,678
3 years$28,602$27,792$27,011$26,260$25,537$24,977
4 years$21,238$20,430$19,657$18,919$18,213$17,670
5 years$16,820$16,017$15,255$14,532$13,845$13,321
6 years$13,876$13,079$12,328$11,621$10,955$10,451
7 years$11,774$10,984$10,245$9,554$8,909$8,425
8 years$10,199$9,415$8,688$8,015$7,391$6,926
9 years$8,974$8,198$7,483$6,827$6,225$5,779
10 years$7,994$7,226$6,524$5,885$5,304$4,878
11 years$7,193$6,433$5,744$5,122$4,561$4,154
12 years$6,526$5,774$5,097$4,492$3,953$3,565
13 years$5,963$5,218$4,554$3,966$3,447$3,077
14 years$5,480$4,743$4,092$3,521$3,021$2,669
15 years$5,062$4,333$3,695$3,140$2,660$2,326
16 years$4,696$3,975$3,350$2,811$2,351$2,034
17 years$4,374$3,661$3,048$2,526$2,085$1,783
18 years$4,088$3,383$2,782$2,276$1,854$1,568
19 years$3,832$3,135$2,547$2,057$1,652$1,382
20 years$3,603$2,913$2,338$1,863$1,476$1,220
21 years$3,395$2,714$2,150$1,691$1,321$1,080
22 years$3,206$2,533$1,982$1,537$1,184$956
23 years$3,035$2,369$1,830$1,400$1,063$848
24 years$2,877$2,220$1,692$1,277$955$753
25 years$2,733$2,083$1,567$1,166$859$670
26 years$2,600$1,958$1,454$1,066$774$596
27 years$2,477$1,843$1,350$976$698$530
28 years$2,363$1,736$1,255$894$630$473
29 years$2,256$1,638$1,168$820$569$421
30 years$2,158$1,547$1,088$753$514$376
31 years$2,065$1,462$1,014$691$465$335
32 years$1,979$1,384$946$635$420$300
33 years$1,898$1,310$883$584$380$268
34 years$1,822$1,242$825$537$344$239
35 years$1,751$1,178$772$495$312$214
36 years$1,684$1,118$722$456$283$191
37 years$1,620$1,062$676$420$256$171
38 years$1,560$1,009$633$387$232$153
39 years$1,503$960$593$357$211$137
40 years$1,449$913$556$329$191$122
41 years$1,398$869$521$304$173$109
42 years$1,350$828$489$280$157$98
43 years$1,303$789$459$259$143$88
44 years$1,259$752$430$239$130$78
45 years$1,218$717$404$221$118$70
46 years$1,178$684$380$204$107$63
47 years$1,140$653$357$188$97$56
48 years$1,103$623$335$174$88$50
49 years$1,068$595$315$161$80$45
50 years$1,035$568$296$149$73$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,060,000, adding $5,008 every year, while hoping to spend $33,874 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: 33/46/21 Blend
53$1,060,000$1,060,000$1,060,000$1,060,000
54$1,173,286$1,117,106$1,100,676$1,204,284
55$1,256,919$1,135,802$1,101,507$1,246,506
56$1,347,948$1,154,280$1,101,230$1,288,537
57$1,447,091$1,172,491$1,099,773$1,333,137
58$1,555,138$1,190,387$1,097,060$1,380,553
59$1,672,960$1,207,914$1,093,009$1,431,057
60$1,801,514$1,225,015$1,087,538$1,484,952
61$1,941,856$1,241,627$1,080,557$1,542,574
62$2,095,145$1,257,687$1,071,975$1,604,292
63$2,262,658$1,273,122$1,061,695$1,670,517
64$2,445,803$1,287,859$1,049,616$1,741,700
65$2,646,128$1,301,817$1,035,631$1,818,346
66$2,865,338$1,314,911$1,019,629$1,901,007
67$3,105,310$1,327,049$1,001,495$1,990,298
68$3,368,113$1,338,135$981,106$2,086,897
69$3,656,022$1,348,066$958,335$2,191,555
70$3,971,545$1,356,730$933,048$2,305,102
71$4,317,444$1,364,011$905,106$2,428,455
72$4,696,760$1,369,784$874,364$2,562,628
73$5,112,842$1,373,916$840,668$2,708,743
74$5,569,381$1,376,267$803,859$2,868,039
75$6,070,440$1,376,687$763,771$3,041,886
76$6,620,497$1,375,015$720,228$3,231,796
77$7,224,481$1,371,085$673,049$3,439,442
78$7,887,825$1,364,716$622,044$3,666,673
79$8,616,514$1,355,717$567,013$3,915,529
80$9,417,139$1,343,888$507,749$4,188,265
81$10,296,963$1,329,014$444,034$4,487,372
82$11,263,986$1,310,869$375,642$4,815,601
83$12,327,023$1,289,211$302,336$5,175,990
84$13,495,783$1,263,787$223,868$5,571,894
85$14,780,967$1,234,326$139,981$6,007,018
86$16,194,360$1,200,543$50,406$6,485,451
87$17,748,950$1,162,135$0$7,011,711
88$19,459,046$1,118,782$0$7,600,908
89$21,340,412$1,070,146$0$8,261,131
90$23,410,418$1,015,867$0$8,987,216
91$25,688,204$955,567$0$9,785,942
92$28,194,856$888,845$0$10,664,782
93$30,953,610$815,278$0$11,631,981
94$33,990,067$734,416$0$12,696,632
95$37,332,438$645,786$0$13,868,766
96$41,011,805$548,888$0$15,159,444
97$45,062,419$443,193$0$16,580,865
98$49,522,018$328,142$0$18,146,484
99$54,432,189$203,146$0$19,871,138
100$59,838,753$67,581$0$21,771,190