Can I retire at age 54 with 1,600,000?

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 $1,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$132,127$130,950$129,801$128,681$127,586$122,718
2 years$65,409$64,191$63,010$61,866$60,755$55,908
3 years$43,173$41,950$40,772$39,638$38,546$33,872
4 years$32,057$30,837$29,671$28,557$27,491$23,026
5 years$25,389$24,177$23,026$21,934$20,898$16,654
6 years$20,945$19,742$18,609$17,541$16,536$12,515
7 years$17,773$16,579$15,464$14,422$13,448$9,649
8 years$15,394$14,212$13,115$12,098$11,157$7,576
9 years$13,545$12,374$11,296$10,305$9,396$6,028
10 years$12,067$10,907$9,848$8,883$8,005$4,846
11 years$10,858$9,710$8,670$7,731$6,885$3,925
12 years$9,851$8,715$7,694$6,781$5,966$3,199
13 years$9,000$7,876$6,874$5,986$5,203$2,620
14 years$8,271$7,159$6,177$5,314$4,561$2,154
15 years$7,640$6,540$5,577$4,739$4,016$1,776
16 years$7,089$6,000$5,056$4,243$3,549$1,469
17 years$6,602$5,526$4,601$3,813$3,147$1,217
18 years$6,171$5,106$4,200$3,436$2,798$1,010
19 years$5,785$4,732$3,845$3,105$2,494$839
20 years$5,438$4,398$3,529$2,812$2,228$698
21 years$5,124$4,096$3,246$2,552$1,993$582
22 years$4,840$3,824$2,991$2,320$1,787$485
23 years$4,581$3,576$2,762$2,113$1,604$404
24 years$4,343$3,351$2,554$1,927$1,442$337
25 years$4,125$3,144$2,366$1,760$1,297$282
26 years$3,924$2,955$2,194$1,609$1,169$235
27 years$3,738$2,781$2,038$1,473$1,054$197
28 years$3,566$2,621$1,894$1,350$951$164
29 years$3,406$2,472$1,763$1,238$858$137
30 years$3,257$2,335$1,642$1,136$776$115
31 years$3,118$2,207$1,531$1,043$701$96
32 years$2,987$2,088$1,428$959$634$80
33 years$2,865$1,978$1,333$882$574$67
34 years$2,751$1,875$1,246$811$520$56
35 years$2,643$1,778$1,165$747$471$47
36 years$2,541$1,688$1,090$688$427$39
37 years$2,445$1,603$1,020$634$387$33
38 years$2,355$1,523$955$584$350$28
39 years$2,269$1,448$895$539$318$23
40 years$2,187$1,378$839$497$288$19
41 years$2,110$1,312$786$458$262$16
42 years$2,037$1,249$738$423$237$13
43 years$1,967$1,190$692$390$215$11
44 years$1,901$1,135$650$361$195$9
45 years$1,838$1,082$610$333$177$8
46 years$1,778$1,032$573$308$161$7
47 years$1,720$985$538$284$146$6
48 years$1,665$940$506$263$133$5
49 years$1,612$898$476$243$121$4
50 years$1,562$858$447$224$110$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,600,000, adding $2,301 every year, while hoping to spend $43,551 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: 57/15/28 Blend
53$1,600,000$1,600,000$1,600,000$1,600,000
54$1,765,573$1,680,773$1,655,973$1,852,525
55$1,899,324$1,716,793$1,665,111$1,948,498
56$2,045,258$1,753,119$1,673,094$2,048,300
57$2,204,571$1,789,718$1,679,840$2,156,195
58$2,378,581$1,826,558$1,685,258$2,272,978
59$2,568,738$1,863,601$1,689,256$2,399,529
60$2,776,638$1,900,807$1,691,736$2,536,815
61$3,004,040$1,938,132$1,692,594$2,685,904
62$3,252,879$1,975,527$1,691,722$2,847,974
63$3,525,286$2,012,941$1,689,008$3,024,321
64$3,823,607$2,050,317$1,684,332$3,216,376
65$4,150,428$2,087,596$1,677,570$3,425,719
66$4,508,594$2,124,710$1,668,591$3,654,088
67$4,901,240$2,161,591$1,657,258$3,903,402
68$5,331,818$2,198,160$1,643,428$4,175,776
69$5,804,131$2,234,337$1,626,950$4,473,542
70$6,322,366$2,270,033$1,607,667$4,799,271
71$6,891,137$2,305,154$1,585,413$5,155,800
72$7,515,525$2,339,599$1,560,016$5,546,253
73$8,201,127$2,373,259$1,531,296$5,974,078
74$8,954,110$2,406,016$1,499,062$6,443,074
75$9,781,266$2,437,748$1,463,118$6,957,432
76$10,690,078$2,468,320$1,423,255$7,521,772
77$11,688,790$2,497,591$1,379,257$8,141,186
78$12,786,481$2,525,409$1,330,898$8,821,289
79$13,993,159$2,551,610$1,277,939$9,568,272
80$15,319,845$2,576,023$1,220,134$10,388,960
81$16,778,684$2,598,463$1,157,223$11,290,878
82$18,383,055$2,618,733$1,088,936$12,282,321
83$20,147,700$2,636,624$1,014,988$13,372,434
84$22,088,860$2,651,913$935,085$14,571,298
85$24,224,430$2,664,363$848,917$15,890,027
86$26,574,127$2,673,722$756,161$17,340,874
87$29,159,676$2,679,723$656,480$18,937,345
88$32,005,013$2,682,079$549,522$20,694,329
89$35,136,512$2,680,489$434,919$22,628,239
90$38,583,235$2,674,631$312,287$24,757,168
91$42,377,201$2,664,164$181,225$27,101,060
92$46,553,694$2,648,727$41,315$29,681,900
93$51,151,591$2,627,934$0$32,523,921
94$56,213,730$2,601,380$0$35,686,101
95$61,787,314$2,568,632$0$39,180,890
96$67,924,358$2,529,232$0$43,028,530
97$74,682,174$2,482,695$0$47,264,945
98$82,123,917$2,428,509$0$51,929,724
99$90,319,179$2,366,129$0$57,066,492
100$99,344,645$2,294,979$0$62,723,327