Can I retire at age 54 with 1,540,000?

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 $1,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$127,172$126,039$124,934$123,855$122,802$119,253
2 years$62,956$61,784$60,647$59,546$58,477$54,930
3 years$41,554$40,376$39,243$38,152$37,100$33,666
4 years$30,855$29,681$28,559$27,486$26,460$23,165
5 years$24,437$23,270$22,163$21,112$20,115$16,968
6 years$20,160$19,002$17,911$16,883$15,916$12,920
7 years$17,106$15,958$14,884$13,881$12,944$10,099
8 years$14,817$13,679$12,623$11,644$10,738$8,043
9 years$13,037$11,910$10,872$9,918$9,043$6,494
10 years$11,614$10,498$9,478$8,550$7,705$5,299
11 years$10,451$9,346$8,345$7,441$6,627$4,360
12 years$9,482$8,388$7,406$6,527$5,743$3,611
13 years$8,663$7,580$6,617$5,762$5,008$3,006
14 years$7,961$6,890$5,945$5,115$4,390$2,513
15 years$7,354$6,295$5,368$4,562$3,865$2,108
16 years$6,823$5,775$4,866$4,084$3,416$1,773
17 years$6,355$5,319$4,428$3,670$3,029$1,495
18 years$5,939$4,915$4,042$3,307$2,693$1,263
19 years$5,568$4,555$3,701$2,988$2,400$1,069
20 years$5,234$4,233$3,396$2,707$2,144$906
21 years$4,932$3,943$3,124$2,456$1,919$769
22 years$4,658$3,680$2,879$2,233$1,720$653
23 years$4,409$3,442$2,658$2,034$1,544$555
24 years$4,180$3,225$2,459$1,855$1,388$472
25 years$3,970$3,026$2,277$1,694$1,249$402
26 years$3,777$2,844$2,112$1,549$1,125$342
27 years$3,598$2,677$1,961$1,418$1,014$291
28 years$3,432$2,522$1,823$1,299$915$248
29 years$3,278$2,380$1,697$1,191$826$212
30 years$3,135$2,247$1,580$1,093$747$181
31 years$3,001$2,124$1,473$1,004$675$154
32 years$2,875$2,010$1,375$923$611$131
33 years$2,758$1,904$1,283$849$553$112
34 years$2,648$1,804$1,199$781$500$96
35 years$2,544$1,711$1,121$719$453$82
36 years$2,446$1,624$1,049$662$411$70
37 years$2,354$1,543$982$610$372$59
38 years$2,266$1,466$919$562$337$51
39 years$2,184$1,394$861$518$306$43
40 years$2,105$1,326$807$478$277$37
41 years$2,031$1,263$757$441$252$32
42 years$1,961$1,202$710$407$228$27
43 years$1,894$1,146$666$376$207$23
44 years$1,830$1,092$625$347$188$20
45 years$1,769$1,041$587$320$171$17
46 years$1,711$993$552$296$155$14
47 years$1,656$948$518$273$141$12
48 years$1,603$905$487$253$128$10
49 years$1,552$864$458$234$116$9
50 years$1,504$826$430$216$106$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,540,000, adding $6,170 every year, while hoping to spend $41,785 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: 74/6/20 Blend
53$1,540,000$1,540,000$1,540,000$1,540,000
54$1,703,444$1,621,824$1,597,954$1,820,958
55$1,832,737$1,656,835$1,607,027$1,934,798
56$1,973,817$1,692,160$1,615,003$2,053,837
57$2,127,842$1,727,772$1,621,802$2,183,211
58$2,296,088$1,763,639$1,627,338$2,323,941
59$2,479,958$1,799,726$1,631,523$2,477,151
60$2,680,997$1,835,997$1,634,262$2,644,078
61$2,900,907$1,872,409$1,635,458$2,826,088
62$3,141,561$1,908,918$1,635,007$3,024,685
63$3,405,021$1,945,476$1,632,801$3,241,525
64$3,693,560$1,982,031$1,628,727$3,478,434
65$4,009,678$2,018,525$1,622,664$3,737,423
66$4,356,130$2,054,899$1,614,489$4,020,710
67$4,735,951$2,091,084$1,604,070$4,330,738
68$5,152,482$2,127,011$1,591,270$4,670,199
69$5,609,403$2,162,602$1,575,945$5,042,060
70$6,110,768$2,197,776$1,557,945$5,449,590
71$6,661,042$2,232,442$1,537,112$5,896,393
72$7,265,144$2,266,508$1,513,281$6,386,440
73$7,928,491$2,299,869$1,486,279$6,924,107
74$8,657,053$2,332,418$1,455,924$7,514,217
75$9,457,403$2,364,038$1,422,029$8,162,085
76$10,336,785$2,394,602$1,384,393$8,873,570
77$11,303,177$2,423,979$1,342,811$9,655,126
78$12,365,371$2,452,024$1,297,065$10,513,870
79$13,533,051$2,478,585$1,246,929$11,457,641
80$14,816,886$2,503,499$1,192,165$12,495,082
81$16,228,632$2,526,594$1,132,526$13,635,717
82$17,781,238$2,547,683$1,067,751$14,890,043
83$19,488,976$2,566,570$997,572$16,269,626
84$21,367,565$2,583,046$921,704$17,787,217
85$23,434,327$2,596,886$839,852$19,456,866
86$25,708,348$2,607,853$751,707$21,294,058
87$28,210,657$2,615,695$656,947$23,315,859
88$30,964,423$2,620,144$555,233$25,541,077
89$33,995,176$2,620,912$446,215$27,990,442
90$37,331,046$2,617,699$329,525$30,686,797
91$41,003,028$2,610,181$204,780$33,655,320
92$45,045,274$2,598,018$71,578$36,923,757
93$49,495,418$2,580,847$0$40,522,688
94$54,394,926$2,558,283$0$44,500,874
95$59,789,489$2,529,920$0$48,897,677
96$65,729,456$2,495,325$0$53,738,835
97$72,270,304$2,454,040$0$59,069,560
98$79,473,167$2,405,580$0$64,939,674
99$87,405,408$2,349,431$0$71,404,078
100$96,141,256$2,285,049$0$78,523,268