Can I retire at age 54 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$92,489$91,665$90,861$90,076$89,310$87,579
2 years$45,786$44,934$44,107$43,306$42,529$40,791
3 years$30,221$29,365$28,540$27,747$26,982$25,293
4 years$22,440$21,586$20,770$19,990$19,244$17,616
5 years$17,772$16,924$16,118$15,354$14,629$13,067
6 years$14,662$13,820$13,026$12,279$11,575$10,081
7 years$12,441$11,606$10,825$10,095$9,414$7,987
8 years$10,776$9,948$9,180$8,469$7,810$6,451
9 years$9,482$8,662$7,907$7,213$6,577$5,285
10 years$8,447$7,635$6,893$6,218$5,604$4,377
11 years$7,601$6,797$6,069$5,411$4,819$3,657
12 years$6,896$6,100$5,386$4,747$4,176$3,076
13 years$6,300$5,513$4,812$4,191$3,642$2,602
14 years$5,790$5,011$4,324$3,720$3,193$2,211
15 years$5,348$4,578$3,904$3,317$2,811$1,886
16 years$4,962$4,200$3,539$2,970$2,484$1,614
17 years$4,622$3,868$3,221$2,669$2,203$1,385
18 years$4,319$3,574$2,940$2,405$1,959$1,191
19 years$4,049$3,313$2,691$2,173$1,746$1,026
20 years$3,807$3,078$2,470$1,968$1,559$886
21 years$3,587$2,867$2,272$1,786$1,395$766
22 years$3,388$2,677$2,094$1,624$1,251$662
23 years$3,206$2,503$1,933$1,479$1,123$574
24 years$3,040$2,345$1,788$1,349$1,009$497
25 years$2,888$2,201$1,656$1,232$908$431
26 years$2,747$2,069$1,536$1,127$818$375
27 years$2,617$1,947$1,426$1,031$737$325
28 years$2,496$1,834$1,326$945$665$283
29 years$2,384$1,731$1,234$866$601$246
30 years$2,280$1,634$1,149$795$543$214
31 years$2,182$1,545$1,071$730$491$186
32 years$2,091$1,462$1,000$671$444$162
33 years$2,006$1,384$933$617$402$141
34 years$1,925$1,312$872$568$364$123
35 years$1,850$1,245$815$523$330$107
36 years$1,779$1,181$763$481$299$93
37 years$1,712$1,122$714$444$271$81
38 years$1,648$1,066$669$409$245$71
39 years$1,588$1,014$626$377$222$61
40 years$1,531$965$587$348$202$54
41 years$1,477$918$551$321$183$47
42 years$1,426$874$516$296$166$41
43 years$1,377$833$485$273$151$35
44 years$1,331$794$455$252$137$31
45 years$1,286$757$427$233$124$27
46 years$1,244$723$401$215$113$23
47 years$1,204$689$377$199$102$20
48 years$1,166$658$354$184$93$18
49 years$1,129$629$333$170$84$16
50 years$1,094$600$313$157$77$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,120,000, adding $4,859 every year, while hoping to spend $53,030 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: 47/47/6 Blend
53$1,120,000$1,120,000$1,120,000$1,120,000
54$1,239,252$1,179,892$1,162,532$1,295,303
55$1,309,232$1,181,283$1,145,053$1,335,634
56$1,384,573$1,180,965$1,125,212$1,373,399
57$1,465,765$1,178,798$1,102,872$1,413,132
58$1,553,348$1,174,634$1,077,893$1,455,031
59$1,647,914$1,168,315$1,050,127$1,499,315
60$1,750,113$1,159,675$1,019,418$1,546,231
61$1,860,661$1,148,536$985,605$1,596,051
62$1,980,344$1,134,709$948,518$1,649,079
63$2,110,027$1,117,998$907,981$1,705,655
64$2,250,659$1,098,189$863,808$1,766,155
65$2,403,286$1,075,060$815,806$1,830,998
66$2,569,058$1,048,375$763,772$1,900,651
67$2,749,238$1,017,881$707,494$1,975,633
68$2,945,218$983,315$646,753$2,056,518
69$3,158,528$944,395$581,317$2,143,947
70$3,390,852$900,825$510,945$2,238,632
71$3,644,043$852,289$435,386$2,341,361
72$3,920,140$798,456$354,376$2,453,011
73$4,221,387$738,974$267,641$2,574,554
74$4,550,256$673,471$174,894$2,707,069
75$4,909,465$601,554$75,836$2,851,752
76$5,302,009$522,808$0$3,009,930
77$5,731,183$436,795$0$3,184,987
78$6,200,617$343,051$0$3,381,945
79$6,714,306$241,087$0$3,597,774
80$7,276,650$130,385$0$3,834,496
81$7,892,493$10,399$0$4,094,351
82$8,567,172$0$0$4,379,820
83$9,306,562$0$0$4,755,422
84$10,117,134$0$0$5,173,208
85$11,006,016$0$0$5,631,489
86$11,981,057$0$0$6,134,329
87$13,050,903$0$0$6,686,205
88$14,225,079$0$0$7,292,046
89$15,514,074$0$0$7,957,284
90$16,929,446$0$0$8,687,902
91$18,483,923$0$0$9,490,491
92$20,191,528$0$0$10,372,311
93$22,067,710$0$0$11,341,362
94$24,129,486$0$0$12,406,454
95$26,395,606$0$0$13,577,296
96$28,886,725$0$0$14,864,584
97$31,625,600$0$0$16,280,101
98$34,637,301$0$0$17,836,830
99$37,949,451$0$0$19,549,073
100$41,592,484$0$0$21,432,592