Can I retire at age 54 with 1,960,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,960,000?

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$161,855$160,413$159,007$157,634$156,293$151,777
2 years$80,126$78,634$77,188$75,785$74,425$69,911
3 years$52,887$51,388$49,946$48,556$47,218$42,848
4 years$39,270$37,776$36,348$34,982$33,677$29,483
5 years$31,102$29,617$28,207$26,870$25,600$21,595
6 years$25,658$24,184$22,796$21,488$20,257$16,444
7 years$21,771$20,310$18,943$17,666$16,474$12,853
8 years$18,858$17,409$16,065$14,820$13,667$10,236
9 years$16,593$15,158$13,837$12,623$11,510$8,265
10 years$14,782$13,361$12,064$10,881$9,807$6,745
11 years$13,301$11,894$10,621$9,470$8,434$5,549
12 years$12,068$10,676$9,425$8,307$7,309$4,595
13 years$11,025$9,648$8,421$7,333$6,373$3,825
14 years$10,132$8,770$7,566$6,510$5,587$3,198
15 years$9,359$8,011$6,831$5,806$4,919$2,683
16 years$8,684$7,350$6,194$5,198$4,348$2,257
17 years$8,088$6,769$5,636$4,671$3,855$1,903
18 years$7,559$6,255$5,145$4,209$3,428$1,608
19 years$7,086$5,797$4,710$3,803$3,055$1,361
20 years$6,661$5,387$4,323$3,445$2,729$1,153
21 years$6,278$5,018$3,976$3,126$2,442$979
22 years$5,929$4,684$3,664$2,842$2,189$831
23 years$5,611$4,381$3,383$2,589$1,965$706
24 years$5,320$4,104$3,129$2,361$1,766$601
25 years$5,053$3,852$2,898$2,156$1,589$511
26 years$4,807$3,620$2,688$1,972$1,431$435
27 years$4,579$3,407$2,496$1,805$1,291$371
28 years$4,368$3,210$2,320$1,653$1,165$316
29 years$4,172$3,029$2,159$1,516$1,052$269
30 years$3,990$2,860$2,011$1,392$950$230
31 years$3,819$2,704$1,875$1,278$859$196
32 years$3,660$2,558$1,749$1,174$777$167
33 years$3,510$2,423$1,633$1,080$703$143
34 years$3,370$2,296$1,526$994$637$122
35 years$3,237$2,178$1,427$915$577$104
36 years$3,113$2,067$1,335$843$522$89
37 years$2,995$1,963$1,249$776$474$76
38 years$2,884$1,866$1,170$715$429$65
39 years$2,779$1,774$1,096$660$389$55
40 years$2,680$1,688$1,027$608$353$47
41 years$2,585$1,607$963$561$320$40
42 years$2,495$1,530$904$518$291$34
43 years$2,410$1,458$848$478$264$29
44 years$2,329$1,390$796$442$239$25
45 years$2,251$1,325$747$408$217$21
46 years$2,178$1,264$702$377$197$18
47 years$2,107$1,207$660$348$179$16
48 years$2,040$1,152$620$322$163$13
49 years$1,975$1,100$583$297$148$11
50 years$1,914$1,051$548$275$134$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,960,000, adding $4,363 every year, while hoping to spend $56,350 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: 42/50/8 Blend
53$1,960,000$1,960,000$1,960,000$1,960,000
54$2,164,420$2,060,540$2,030,160$2,250,072
55$2,325,235$2,101,551$2,038,215$2,351,193
56$2,500,565$2,142,682$2,044,650$2,454,580
57$2,691,830$2,183,881$2,049,354$2,565,239
58$2,900,594$2,225,089$2,052,205$2,683,854
59$3,128,580$2,266,244$2,053,079$2,811,178
60$3,377,682$2,307,277$2,051,844$2,948,042
61$3,649,987$2,348,115$2,048,362$3,095,362
62$3,947,793$2,388,679$2,042,489$3,254,148
63$4,273,628$2,428,885$2,034,073$3,425,513
64$4,630,277$2,468,640$2,022,954$3,610,687
65$5,020,809$2,507,846$2,008,966$3,811,022
66$5,448,599$2,546,398$1,991,934$4,028,013
67$5,917,367$2,584,183$1,971,675$4,263,307
68$6,431,210$2,621,079$1,947,997$4,518,720
69$6,994,638$2,656,956$1,920,700$4,796,256
70$7,612,620$2,691,676$1,889,572$5,098,124
71$8,290,629$2,725,090$1,854,395$5,426,762
72$9,034,693$2,757,040$1,814,937$5,784,856
73$9,851,452$2,787,354$1,770,957$6,175,373
74$10,748,219$2,815,854$1,722,203$6,601,581
75$11,733,053$2,842,346$1,668,412$7,067,087
76$12,814,827$2,866,624$1,609,307$7,575,868
77$14,003,320$2,888,469$1,544,599$8,132,312
78$15,309,303$2,907,648$1,473,988$8,741,256
79$16,744,642$2,923,913$1,397,156$9,408,036
80$18,322,409$2,936,999$1,313,775$10,138,539
81$20,057,009$2,946,626$1,223,500$10,939,253
82$21,964,307$2,952,494$1,125,971$11,817,337
83$24,061,786$2,954,286$1,020,811$12,780,685
84$26,368,708$2,951,666$907,628$13,838,004
85$28,906,293$2,944,274$786,010$14,998,893
86$31,697,923$2,931,732$655,530$16,273,939
87$34,769,360$2,913,635$515,739$17,674,820
88$38,148,989$2,889,557$366,170$19,214,408
89$41,868,083$2,859,043$206,334$20,906,902
90$45,961,104$2,821,613$35,723$22,767,957
91$50,466,022$2,776,757$0$24,814,837
92$55,424,672$2,723,934$0$27,079,068
93$60,883,156$2,662,574$0$29,573,213
94$66,892,267$2,592,069$0$32,317,413
95$73,507,977$2,511,779$0$35,337,236
96$80,791,960$2,421,026$0$38,660,871
97$88,812,173$2,319,089$0$42,319,396
98$97,643,500$2,205,210$0$46,347,070
99$107,368,455$2,078,584$0$50,781,662
100$118,077,964$1,938,360$0$55,664,810