Can I retire at age 54 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$100,746$99,849$98,974$98,119$97,285$95,950
2 years$49,874$48,946$48,045$47,173$46,326$44,983
3 years$32,919$31,987$31,089$30,224$29,391$28,083
4 years$24,443$23,513$22,625$21,775$20,962$19,698
5 years$19,359$18,435$17,558$16,725$15,935$14,719
6 years$15,971$15,053$14,189$13,375$12,609$11,442
7 years$13,552$12,642$11,791$10,996$10,254$9,137
8 years$11,738$10,836$10,000$9,225$8,507$7,439
9 years$10,328$9,435$8,613$7,857$7,164$6,145
10 years$9,201$8,317$7,509$6,773$6,104$5,134
11 years$8,279$7,404$6,611$5,895$5,250$4,327
12 years$7,512$6,645$5,867$5,170$4,549$3,673
13 years$6,863$6,005$5,242$4,565$3,967$3,136
14 years$6,307$5,459$4,710$4,052$3,478$2,690
15 years$5,826$4,987$4,252$3,614$3,062$2,317
16 years$5,405$4,575$3,855$3,236$2,706$2,002
17 years$5,034$4,213$3,508$2,907$2,399$1,735
18 years$4,705$3,893$3,202$2,620$2,133$1,507
19 years$4,411$3,608$2,932$2,367$1,902$1,312
20 years$4,146$3,353$2,691$2,144$1,699$1,144
21 years$3,907$3,123$2,475$1,946$1,520$1,000
22 years$3,690$2,915$2,281$1,769$1,362$874
23 years$3,493$2,727$2,106$1,611$1,223$765
24 years$3,312$2,555$1,948$1,470$1,099$671
25 years$3,145$2,398$1,804$1,342$989$588
26 years$2,992$2,253$1,673$1,227$891$517
27 years$2,850$2,121$1,554$1,123$803$454
28 years$2,719$1,998$1,444$1,029$725$399
29 years$2,597$1,885$1,344$944$655$351
30 years$2,483$1,780$1,252$866$591$309
31 years$2,377$1,683$1,167$795$535$272
32 years$2,278$1,592$1,089$731$484$239
33 years$2,185$1,508$1,017$672$438$211
34 years$2,097$1,429$950$619$396$186
35 years$2,015$1,356$888$569$359$163
36 years$1,938$1,287$831$524$325$144
37 years$1,864$1,222$778$483$295$127
38 years$1,795$1,161$728$445$267$112
39 years$1,730$1,104$682$411$242$99
40 years$1,668$1,051$640$379$220$87
41 years$1,609$1,000$600$349$199$77
42 years$1,553$953$563$323$181$68
43 years$1,500$908$528$298$164$60
44 years$1,450$865$495$275$149$53
45 years$1,401$825$465$254$135$46
46 years$1,355$787$437$234$123$41
47 years$1,312$751$411$217$112$36
48 years$1,270$717$386$200$101$32
49 years$1,230$685$363$185$92$28
50 years$1,191$654$341$171$84$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,220,000, adding $3,755 every year, while hoping to spend $58,203 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: 65/29/6 Blend
53$1,220,000$1,220,000$1,220,000$1,220,000
54$1,348,313$1,283,653$1,264,743$1,434,404
55$1,423,914$1,284,625$1,245,185$1,493,069
56$1,505,275$1,283,693$1,223,020$1,549,851
57$1,592,922$1,280,704$1,198,101$1,610,345
58$1,687,434$1,275,492$1,170,271$1,674,904
59$1,789,446$1,267,884$1,139,368$1,743,921
60$1,899,654$1,257,695$1,105,222$1,817,828
61$2,018,825$1,244,729$1,067,654$1,897,104
62$2,147,803$1,228,778$1,026,477$1,982,279
63$2,287,512$1,209,622$981,498$2,073,936
64$2,438,972$1,187,027$932,511$2,172,721
65$2,603,301$1,160,745$879,305$2,279,349
66$2,781,733$1,130,516$821,656$2,394,608
67$2,975,620$1,096,062$759,332$2,519,370
68$3,186,454$1,057,090$692,090$2,654,599
69$3,415,873$1,013,288$619,676$2,801,357
70$3,665,682$964,329$541,825$2,960,822
71$3,937,865$909,865$458,260$3,134,293
72$4,234,606$849,528$368,691$3,323,204
73$4,558,311$782,929$272,817$3,529,141
74$4,911,624$709,658$170,321$3,753,855
75$5,297,458$629,280$60,876$3,999,280
76$5,719,020$541,336$0$4,267,552
77$6,179,840$445,342$0$4,564,610
78$6,683,805$340,784$0$4,893,871
79$7,235,192$227,122$0$5,254,335
80$7,838,715$103,784$0$5,649,202
81$8,499,562$0$0$6,082,006
82$9,223,446$0$0$6,566,165
83$10,016,659$0$0$7,133,065
84$10,886,131$0$0$7,754,549
85$11,839,495$0$0$8,436,083
86$12,885,155$0$0$9,183,686
87$14,032,370$0$0$10,003,989
88$15,291,339$0$0$10,904,295
89$16,673,294$0$0$11,892,650
90$18,190,609$0$0$12,977,914
91$19,856,914$0$0$14,169,850
92$21,687,225$0$0$15,479,211
93$23,698,082$0$0$16,917,844
94$25,907,707$0$0$18,498,800
95$28,336,175$0$0$20,236,457
96$31,005,602$0$0$22,146,654
97$33,940,353$0$0$24,246,843
98$37,167,273$0$0$26,556,249
99$40,715,937$0$0$29,096,057
100$44,618,928$0$0$31,889,603