Can I retire at age 54 with 1,640,000?

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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$135,430$134,223$133,046$131,898$130,776$127,150
2 years$67,044$65,796$64,586$63,412$62,274$58,649
3 years$44,252$42,998$41,791$40,629$39,509$35,997
4 years$32,858$31,608$30,413$29,271$28,178$24,807
5 years$26,024$24,781$23,602$22,483$21,421$18,199
6 years$21,469$20,236$19,074$17,980$16,950$13,880
7 years$18,217$16,994$15,850$14,782$13,784$10,868
8 years$15,779$14,567$13,442$12,400$11,436$8,670
9 years$13,884$12,683$11,578$10,562$9,630$7,014
10 years$12,368$11,180$10,094$9,105$8,206$5,734
11 years$11,129$9,953$8,887$7,924$7,057$4,727
12 years$10,098$8,933$7,887$6,950$6,116$3,922
13 years$9,225$8,073$7,046$6,136$5,333$3,272
14 years$8,478$7,338$6,331$5,447$4,675$2,741
15 years$7,831$6,703$5,716$4,858$4,116$2,304
16 years$7,266$6,150$5,182$4,350$3,638$1,942
17 years$6,767$5,664$4,716$3,908$3,225$1,642
18 years$6,325$5,234$4,305$3,522$2,868$1,390
19 years$5,929$4,851$3,941$3,182$2,556$1,179
20 years$5,574$4,507$3,617$2,882$2,283$1,002
21 years$5,253$4,199$3,327$2,616$2,043$852
22 years$4,961$3,919$3,066$2,378$1,832$725
23 years$4,695$3,666$2,831$2,166$1,644$618
24 years$4,452$3,434$2,618$1,976$1,478$527
25 years$4,228$3,223$2,425$1,804$1,330$449
26 years$4,022$3,029$2,249$1,650$1,198$384
27 years$3,832$2,851$2,088$1,510$1,080$328
28 years$3,655$2,686$1,941$1,383$974$280
29 years$3,491$2,534$1,807$1,269$880$239
30 years$3,338$2,393$1,683$1,164$795$204
31 years$3,196$2,262$1,569$1,069$719$175
32 years$3,062$2,141$1,464$983$650$149
33 years$2,937$2,027$1,367$904$588$128
34 years$2,819$1,921$1,277$831$533$109
35 years$2,709$1,822$1,194$765$483$94
36 years$2,605$1,730$1,117$705$437$80
37 years$2,506$1,643$1,045$650$396$68
38 years$2,413$1,561$979$599$359$59
39 years$2,325$1,485$917$552$326$50
40 years$2,242$1,412$860$509$295$43
41 years$2,163$1,345$806$470$268$37
42 years$2,088$1,281$756$434$243$31
43 years$2,017$1,220$710$400$221$27
44 years$1,949$1,163$666$370$200$23
45 years$1,884$1,109$625$341$182$20
46 years$1,822$1,058$587$315$165$17
47 years$1,763$1,010$552$291$150$14
48 years$1,707$964$519$269$136$12
49 years$1,653$920$487$249$124$11
50 years$1,601$879$458$230$112$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,640,000, adding $6,761 every year, while hoping to spend $33,054 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: 29/44/27 Blend
53$1,640,000$1,640,000$1,640,000$1,640,000
54$1,814,254$1,727,334$1,701,914$1,851,558
55$1,964,139$1,776,804$1,723,759$1,930,924
56$2,128,204$1,827,591$1,745,228$2,012,854
57$2,307,861$1,879,723$1,766,273$2,100,273
58$2,504,664$1,933,231$1,786,845$2,193,676
59$2,720,326$1,988,145$1,806,890$2,293,609
60$2,956,730$2,044,495$1,826,352$2,400,675
61$3,215,955$2,102,313$1,845,173$2,515,534
62$3,500,285$2,161,630$1,863,290$2,638,915
63$3,812,242$2,222,477$1,880,637$2,771,618
64$4,154,597$2,284,886$1,897,145$2,914,525
65$4,530,409$2,348,888$1,912,742$3,068,608
66$4,943,043$2,414,515$1,927,351$3,234,936
67$5,396,207$2,481,800$1,940,891$3,414,687
68$5,893,987$2,550,775$1,953,278$3,609,156
69$6,440,882$2,621,471$1,964,421$3,819,773
70$7,041,850$2,693,922$1,974,227$4,048,110
71$7,702,353$2,768,158$1,982,598$4,295,900
72$8,428,408$2,844,213$1,989,430$4,565,052
73$9,226,643$2,922,117$1,994,614$4,857,669
74$10,104,362$3,001,902$1,998,035$5,176,067
75$11,069,612$3,083,600$1,999,574$5,522,800
76$12,131,257$3,167,241$1,999,104$5,900,679
77$13,299,065$3,252,856$1,996,494$6,312,803
78$14,583,797$3,340,474$1,991,604$6,762,586
79$15,997,312$3,430,124$1,984,290$7,253,791
80$17,552,673$3,521,835$1,974,399$7,790,564
81$19,264,275$3,615,635$1,961,771$8,377,473
82$21,147,980$3,711,550$1,946,239$9,019,553
83$23,221,263$3,809,605$1,927,627$9,722,351
84$25,503,381$3,909,824$1,905,752$10,491,982
85$28,015,551$4,012,231$1,880,420$11,335,184
86$30,781,154$4,116,847$1,851,431$12,259,382
87$33,825,951$4,223,692$1,818,573$13,272,759
88$37,178,329$4,332,784$1,781,626$14,384,334
89$40,869,566$4,444,138$1,740,358$15,604,046
90$44,934,129$4,557,768$1,694,528$16,942,849
91$49,409,998$4,673,686$1,643,882$18,412,815
92$54,339,022$4,791,901$1,588,156$20,027,249
93$59,767,316$4,912,418$1,527,073$21,800,815
94$65,745,696$5,035,240$1,460,344$23,749,672
95$72,330,157$5,160,368$1,387,666$25,891,631
96$79,582,404$5,287,796$1,308,723$28,246,321
97$87,570,428$5,417,517$1,223,184$30,835,377
98$96,369,155$5,549,519$1,130,704$33,682,640
99$106,061,149$5,683,785$1,030,922$36,814,388
100$116,737,389$5,820,294$923,462$40,259,583