Can I retire at age 54 with 1,320,000?

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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$109,004$108,033$107,086$106,161$105,259$101,082
2 years$53,963$52,958$51,984$51,039$50,123$45,967
3 years$35,618$34,608$33,637$32,701$31,800$27,796
4 years$26,447$25,441$24,479$23,559$22,680$18,858
5 years$20,946$19,946$18,997$18,096$17,241$13,610
6 years$17,280$16,287$15,352$14,471$13,642$10,205
7 years$14,662$13,678$12,758$11,898$11,095$7,850
8 years$12,700$11,725$10,820$9,981$9,204$6,149
9 years$11,175$10,208$9,319$8,501$7,751$4,881
10 years$9,955$8,998$8,124$7,328$6,604$3,913
11 years$8,958$8,011$7,153$6,378$5,680$3,162
12 years$8,127$7,190$6,348$5,594$4,922$2,570
13 years$7,425$6,498$5,671$4,939$4,292$2,099
14 years$6,824$5,906$5,096$4,384$3,763$1,721
15 years$6,303$5,395$4,601$3,910$3,313$1,415
16 years$5,848$4,950$4,171$3,501$2,928$1,167
17 years$5,447$4,559$3,796$3,146$2,596$964
18 years$5,091$4,213$3,465$2,835$2,308$797
19 years$4,772$3,904$3,172$2,561$2,057$661
20 years$4,486$3,628$2,911$2,320$1,838$548
21 years$4,228$3,379$2,678$2,105$1,645$455
22 years$3,993$3,154$2,468$1,914$1,474$378
23 years$3,779$2,950$2,279$1,743$1,323$314
24 years$3,583$2,764$2,107$1,590$1,189$262
25 years$3,403$2,594$1,952$1,452$1,070$218
26 years$3,237$2,438$1,810$1,328$964$181
27 years$3,084$2,294$1,681$1,215$869$151
28 years$2,942$2,162$1,563$1,114$784$126
29 years$2,810$2,040$1,454$1,021$708$105
30 years$2,687$1,926$1,355$937$640$87
31 years$2,572$1,821$1,263$861$579$73
32 years$2,465$1,723$1,178$791$523$61
33 years$2,364$1,632$1,100$727$474$51
34 years$2,269$1,546$1,028$669$429$42
35 years$2,180$1,467$961$616$388$35
36 years$2,096$1,392$899$567$352$29
37 years$2,017$1,322$841$523$319$24
38 years$1,943$1,257$788$482$289$20
39 years$1,872$1,195$738$444$262$17
40 years$1,805$1,137$692$410$238$14
41 years$1,741$1,082$649$378$216$12
42 years$1,681$1,031$609$349$196$10
43 years$1,623$982$571$322$178$8
44 years$1,568$936$536$297$161$7
45 years$1,516$893$503$275$146$6
46 years$1,466$852$473$254$133$5
47 years$1,419$813$444$234$121$4
48 years$1,374$776$417$217$110$3
49 years$1,330$741$392$200$100$3
50 years$1,289$708$369$185$90$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,320,000, adding $4,329 every year, while hoping to spend $24,131 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: 63/18/19 Blend
53$1,320,000$1,320,000$1,320,000$1,320,000
54$1,459,105$1,389,145$1,368,685$1,543,704
55$1,582,259$1,431,538$1,388,861$1,643,566
56$1,717,165$1,475,200$1,408,904$1,749,470
57$1,864,998$1,520,166$1,428,784$1,864,565
58$2,027,049$1,566,476$1,448,470$1,989,748
59$2,204,742$1,614,167$1,467,927$2,126,010
60$2,399,643$1,663,279$1,487,121$2,274,437
61$2,613,481$1,713,853$1,506,013$2,436,230
62$2,848,155$1,765,931$1,524,564$2,612,709
63$3,105,762$1,819,557$1,542,731$2,805,327
64$3,388,607$1,874,773$1,560,471$3,015,687
65$3,699,234$1,931,626$1,577,735$3,245,553
66$4,040,442$1,990,161$1,594,475$3,496,868
67$4,415,315$2,050,428$1,610,639$3,771,771
68$4,827,253$2,112,474$1,626,170$4,072,621
69$5,279,997$2,176,349$1,641,011$4,402,015
70$5,777,673$2,242,107$1,655,101$4,762,814
71$6,324,824$2,309,798$1,668,376$5,158,169
72$6,926,456$2,379,478$1,680,766$5,591,554
73$7,588,084$2,451,202$1,692,201$6,066,793
74$8,315,784$2,525,027$1,702,606$6,588,101
75$9,116,253$2,601,012$1,711,902$7,160,123
76$9,996,865$2,679,216$1,720,005$7,787,974
77$10,965,748$2,759,700$1,726,828$8,477,291
78$12,031,857$2,842,529$1,732,280$9,234,285
79$13,205,059$2,927,765$1,736,264$10,065,800
80$14,496,225$3,015,476$1,738,679$10,979,376
81$15,917,334$3,105,728$1,739,418$11,983,322
82$17,481,585$3,198,591$1,738,371$13,086,791
83$19,203,521$3,294,136$1,735,421$14,299,872
84$21,099,166$3,392,435$1,730,444$15,633,679
85$23,186,180$3,493,563$1,723,312$17,100,462
86$25,484,018$3,597,596$1,713,891$18,713,715
87$28,014,120$3,704,610$1,702,039$20,488,312
88$30,800,111$3,814,687$1,687,608$22,440,638
89$33,868,022$3,927,906$1,670,443$24,588,752
90$37,246,539$4,044,352$1,650,381$26,952,554
91$40,967,270$4,164,109$1,627,253$29,553,969
92$45,065,045$4,287,264$1,600,879$32,417,162
93$49,578,245$4,413,906$1,571,074$35,568,759
94$54,549,164$4,544,125$1,537,643$39,038,101
95$60,024,405$4,678,014$1,500,380$42,857,521
96$66,055,325$4,815,666$1,459,073$47,062,650
97$72,698,514$4,957,180$1,413,498$51,692,750
98$80,016,332$5,102,652$1,363,421$56,791,090
99$88,077,500$5,252,183$1,308,597$62,405,349
100$96,957,740$5,405,876$1,248,770$68,588,069