Can I retire at age 54 with 1,340,000?

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$110,656$109,670$108,709$107,770$106,853$103,062
2 years$54,780$53,760$52,771$51,813$50,883$47,103
3 years$36,157$35,133$34,146$33,197$32,282$28,634
4 years$26,848$25,826$24,850$23,916$23,024$19,534
5 years$21,263$20,248$19,285$18,370$17,502$14,180
6 years$17,542$16,534$15,585$14,691$13,849$10,697
7 years$14,885$13,885$12,951$12,078$11,263$8,281
8 years$12,893$11,902$10,983$10,132$9,344$6,529
9 years$11,344$10,363$9,460$8,630$7,869$5,218
10 years$10,106$9,135$8,248$7,439$6,705$4,212
11 years$9,093$8,132$7,261$6,474$5,766$3,428
12 years$8,250$7,299$6,444$5,679$4,997$2,807
13 years$7,538$6,596$5,757$5,014$4,357$2,310
14 years$6,927$5,996$5,173$4,451$3,820$1,908
15 years$6,399$5,477$4,670$3,969$3,363$1,582
16 years$5,937$5,025$4,234$3,554$2,972$1,314
17 years$5,529$4,628$3,853$3,193$2,635$1,095
18 years$5,168$4,276$3,517$2,878$2,343$913
19 years$4,845$3,963$3,220$2,600$2,089$763
20 years$4,554$3,683$2,955$2,355$1,866$638
21 years$4,292$3,430$2,718$2,137$1,670$534
22 years$4,053$3,202$2,505$1,943$1,496$448
23 years$3,836$2,995$2,313$1,770$1,343$376
24 years$3,637$2,806$2,139$1,614$1,207$315
25 years$3,455$2,633$1,981$1,474$1,086$265
26 years$3,286$2,475$1,838$1,348$979$222
27 years$3,131$2,329$1,706$1,234$882$187
28 years$2,987$2,195$1,586$1,130$796$157
29 years$2,853$2,071$1,476$1,037$719$132
30 years$2,728$1,955$1,375$951$650$111
31 years$2,611$1,849$1,282$874$587$93
32 years$2,502$1,749$1,196$803$531$79
33 years$2,400$1,656$1,117$738$481$66
34 years$2,304$1,570$1,043$679$435$56
35 years$2,213$1,489$976$625$394$47
36 years$2,128$1,413$913$576$357$39
37 years$2,048$1,342$854$531$324$33
38 years$1,972$1,276$800$489$294$28
39 years$1,900$1,213$749$451$266$23
40 years$1,832$1,154$702$416$241$20
41 years$1,767$1,099$659$384$219$17
42 years$1,706$1,046$618$354$199$14
43 years$1,648$997$580$327$180$12
44 years$1,592$950$544$302$164$10
45 years$1,539$906$511$279$149$8
46 years$1,489$864$480$258$135$7
47 years$1,441$825$451$238$123$6
48 years$1,394$788$424$220$111$5
49 years$1,350$752$398$203$101$4
50 years$1,308$718$374$188$92$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,340,000, adding $5,989 every year, while hoping to spend $28,223 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: 52/38/10 Blend
53$1,340,000$1,340,000$1,340,000$1,340,000
54$1,482,858$1,411,838$1,391,068$1,555,827
55$1,604,080$1,450,989$1,407,639$1,645,327
56$1,736,721$1,491,112$1,423,820$1,739,073
57$1,881,916$1,532,226$1,439,568$1,840,365
58$2,040,914$1,574,348$1,454,836$1,949,922
59$2,215,092$1,617,496$1,469,578$2,068,534
60$2,405,966$1,661,687$1,483,742$2,197,071
61$2,615,204$1,706,939$1,497,277$2,336,493
62$2,844,644$1,753,269$1,510,126$2,487,853
63$3,096,313$1,800,693$1,522,230$2,652,313
64$3,372,439$1,849,230$1,533,527$2,831,150
65$3,675,480$1,898,894$1,543,952$3,025,773
66$4,008,140$1,949,702$1,553,436$3,237,731
67$4,373,402$2,001,669$1,561,908$3,468,731
68$4,774,548$2,054,810$1,569,291$3,720,653
69$5,215,196$2,109,139$1,575,506$3,995,566
70$5,699,329$2,164,670$1,580,468$4,295,752
71$6,231,338$2,221,416$1,584,091$4,623,722
72$6,816,057$2,279,388$1,586,281$4,982,242
73$7,458,816$2,338,599$1,586,942$5,374,359
74$8,165,483$2,399,058$1,585,973$5,803,432
75$8,942,525$2,460,774$1,583,265$6,273,157
76$9,797,066$2,523,756$1,578,708$6,787,610
77$10,736,956$2,588,009$1,572,184$7,351,279
78$11,770,843$2,653,539$1,563,570$7,969,110
79$12,908,257$2,720,350$1,552,737$8,646,550
80$14,159,695$2,788,444$1,539,550$9,389,604
81$15,536,726$2,857,820$1,523,867$10,204,886
82$17,052,096$2,928,477$1,505,541$11,099,684
83$18,719,848$3,000,411$1,484,415$12,082,028
84$20,555,457$3,073,615$1,460,327$13,160,765
85$22,575,972$3,148,081$1,433,107$14,345,646
86$24,800,182$3,223,797$1,402,576$15,647,414
87$27,248,787$3,300,750$1,368,549$17,077,906
88$29,944,598$3,378,921$1,330,830$18,650,168
89$32,912,750$3,458,291$1,289,215$20,378,572
90$36,180,937$3,538,834$1,243,491$22,278,959
91$39,779,679$3,620,524$1,193,435$24,368,781
92$43,742,604$3,703,327$1,138,812$26,667,274
93$48,106,767$3,787,207$1,079,380$29,195,632
94$52,913,001$3,872,124$1,014,882$31,977,210
95$58,206,299$3,958,031$945,054$35,037,747
96$64,036,244$4,044,876$869,615$38,405,606
97$70,457,470$4,132,604$788,276$42,112,042
98$77,530,181$4,221,150$700,732$46,191,498
99$85,320,719$4,310,446$606,666$50,681,930
100$93,902,189$4,400,415$505,746$55,625,167