Can I retire at age 54 with 1,970,000?

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 $1,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$162,681$161,232$159,818$158,438$157,091$155,385
2 years$80,535$79,035$77,582$76,172$74,805$73,088
3 years$53,157$51,650$50,200$48,804$47,459$45,784
4 years$39,470$37,968$36,533$35,161$33,848$32,228
5 years$31,260$29,768$28,351$27,007$25,731$24,169
6 years$25,789$24,308$22,912$21,598$20,360$18,860
7 years$21,883$20,413$19,040$17,757$16,558$15,119
8 years$18,954$17,498$16,147$14,896$13,737$12,360
9 years$16,677$15,235$13,908$12,688$11,568$10,252
10 years$14,857$13,429$12,125$10,937$9,857$8,601
11 years$13,369$11,955$10,675$9,518$8,477$7,281
12 years$12,129$10,730$9,474$8,349$7,346$6,208
13 years$11,082$9,697$8,464$7,371$6,406$5,324
14 years$10,184$8,814$7,605$6,543$5,615$4,589
15 years$9,407$8,052$6,866$5,835$4,944$3,971
16 years$8,728$7,388$6,225$5,225$4,370$3,448
17 years$8,129$6,804$5,665$4,694$3,875$3,003
18 years$7,598$6,287$5,171$4,231$3,445$2,622
19 years$7,122$5,827$4,734$3,823$3,071$2,294
20 years$6,695$5,414$4,345$3,462$2,743$2,011
21 years$6,310$5,043$3,996$3,142$2,454$1,766
22 years$5,959$4,708$3,683$2,857$2,200$1,553
23 years$5,640$4,403$3,401$2,602$1,975$1,367
24 years$5,347$4,125$3,145$2,373$1,775$1,204
25 years$5,079$3,871$2,913$2,167$1,597$1,062
26 years$4,831$3,639$2,702$1,982$1,439$938
27 years$4,603$3,424$2,509$1,814$1,297$828
28 years$4,391$3,227$2,332$1,662$1,170$732
29 years$4,194$3,044$2,170$1,524$1,057$648
30 years$4,010$2,875$2,022$1,399$955$573
31 years$3,839$2,718$1,885$1,285$863$507
32 years$3,678$2,571$1,758$1,180$781$449
33 years$3,528$2,435$1,642$1,086$707$398
34 years$3,387$2,308$1,534$999$640$353
35 years$3,254$2,189$1,434$919$580$312
36 years$3,129$2,078$1,342$847$525$277
37 years$3,011$1,973$1,256$780$476$246
38 years$2,899$1,875$1,176$719$432$218
39 years$2,793$1,783$1,102$663$391$193
40 years$2,693$1,697$1,033$612$355$171
41 years$2,598$1,615$968$564$322$152
42 years$2,508$1,538$908$521$292$135
43 years$2,422$1,466$852$481$265$120
44 years$2,341$1,397$800$444$241$106
45 years$2,263$1,332$751$410$219$94
46 years$2,189$1,271$706$379$198$84
47 years$2,118$1,213$663$350$180$74
48 years$2,050$1,158$623$323$164$66
49 years$1,985$1,106$586$299$149$59
50 years$1,923$1,056$550$276$135$52

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,970,000, adding $3,328 every year, while hoping to spend $52,902 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: 62/20/18 Blend
53$1,970,000$1,970,000$1,970,000$1,970,000
54$2,174,373$2,069,963$2,039,428$2,299,020
55$2,339,872$2,115,104$2,051,461$2,428,527
56$2,520,478$2,160,683$2,062,125$2,563,611
57$2,717,678$2,206,668$2,071,317$2,709,847
58$2,933,105$2,253,019$2,078,930$2,868,326
59$3,168,560$2,299,695$2,084,853$3,040,246
60$3,426,024$2,346,651$2,088,966$3,226,932
61$3,707,679$2,393,837$2,091,147$3,429,839
62$4,015,927$2,441,200$2,091,266$3,650,574
63$4,353,414$2,488,681$2,089,185$3,890,907
64$4,723,052$2,536,216$2,084,762$4,152,788
65$5,128,048$2,583,736$2,077,847$4,438,367
66$5,571,937$2,631,167$2,068,283$4,750,012
67$6,058,609$2,678,428$2,055,905$5,090,336
68$6,592,349$2,725,433$2,040,539$5,462,214
69$7,177,876$2,772,087$2,022,005$5,868,820
70$7,820,390$2,818,290$2,000,113$6,313,649
71$8,525,618$2,863,934$1,974,664$6,800,553
72$9,299,866$2,908,902$1,945,451$7,333,781
73$10,150,084$2,953,070$1,912,255$7,918,012
74$11,083,925$2,996,303$1,874,848$8,558,406
75$12,109,822$3,038,458$1,832,992$9,260,651
76$13,237,063$3,079,382$1,786,437$10,031,013
77$14,475,883$3,118,911$1,734,922$10,876,402
78$15,837,554$3,156,868$1,678,172$11,804,434
79$17,334,497$3,193,068$1,615,904$12,823,503
80$18,980,396$3,227,308$1,547,817$13,942,859
81$20,790,327$3,259,377$1,473,599$15,172,702
82$22,780,899$3,289,045$1,392,924$16,524,271
83$24,970,413$3,316,071$1,305,450$18,009,956
84$27,379,033$3,340,196$1,210,820$19,643,413
85$30,028,974$3,361,145$1,108,661$21,439,693
86$32,944,712$3,378,625$998,585$23,415,388
87$36,153,219$3,392,323$880,183$25,588,783
88$39,684,210$3,401,910$753,032$27,980,032
89$43,570,428$3,407,032$616,687$30,611,353
90$47,847,951$3,407,316$470,686$33,507,228
91$52,556,531$3,402,363$314,543$36,694,648
92$57,739,972$3,391,753$147,754$40,203,356
93$63,446,537$3,375,038$0$44,066,138
94$69,729,411$3,351,741$0$48,324,937
95$76,647,194$3,321,360$0$53,044,434
96$84,264,461$3,283,360$0$58,240,227
97$92,652,365$3,237,174$0$63,960,813
98$101,889,313$3,182,202$0$70,259,634
99$112,061,702$3,117,808$0$77,195,588
100$123,264,734$3,043,319$0$84,833,577