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

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 $1,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$162,681$161,232$159,818$158,438$157,091$153,231
2 years$80,535$79,035$77,582$76,172$74,805$70,940
3 years$53,157$51,650$50,200$48,804$47,459$43,710
4 years$39,470$37,968$36,533$35,161$33,848$30,244
5 years$31,260$29,768$28,351$27,007$25,731$22,281
6 years$25,789$24,308$22,912$21,598$20,360$17,068
7 years$21,883$20,413$19,040$17,757$16,558$13,425
8 years$18,954$17,498$16,147$14,896$13,737$10,761
9 years$16,677$15,235$13,908$12,688$11,568$8,747
10 years$14,857$13,429$12,125$10,937$9,857$7,187
11 years$13,369$11,955$10,675$9,518$8,477$5,955
12 years$12,129$10,730$9,474$8,349$7,346$4,967
13 years$11,082$9,697$8,464$7,371$6,406$4,165
14 years$10,184$8,814$7,605$6,543$5,615$3,509
15 years$9,407$8,052$6,866$5,835$4,944$2,966
16 years$8,728$7,388$6,225$5,225$4,370$2,515
17 years$8,129$6,804$5,665$4,694$3,875$2,138
18 years$7,598$6,287$5,171$4,231$3,445$1,821
19 years$7,122$5,827$4,734$3,823$3,071$1,554
20 years$6,695$5,414$4,345$3,462$2,743$1,328
21 years$6,310$5,043$3,996$3,142$2,454$1,136
22 years$5,959$4,708$3,683$2,857$2,200$973
23 years$5,640$4,403$3,401$2,602$1,975$835
24 years$5,347$4,125$3,145$2,373$1,775$716
25 years$5,079$3,871$2,913$2,167$1,597$615
26 years$4,831$3,639$2,702$1,982$1,439$528
27 years$4,603$3,424$2,509$1,814$1,297$454
28 years$4,391$3,227$2,332$1,662$1,170$390
29 years$4,194$3,044$2,170$1,524$1,057$336
30 years$4,010$2,875$2,022$1,399$955$289
31 years$3,839$2,718$1,885$1,285$863$249
32 years$3,678$2,571$1,758$1,180$781$214
33 years$3,528$2,435$1,642$1,086$707$184
34 years$3,387$2,308$1,534$999$640$159
35 years$3,254$2,189$1,434$919$580$137
36 years$3,129$2,078$1,342$847$525$118
37 years$3,011$1,973$1,256$780$476$101
38 years$2,899$1,875$1,176$719$432$87
39 years$2,793$1,783$1,102$663$391$75
40 years$2,693$1,697$1,033$612$355$65
41 years$2,598$1,615$968$564$322$56
42 years$2,508$1,538$908$521$292$48
43 years$2,422$1,466$852$481$265$42
44 years$2,341$1,397$800$444$241$36
45 years$2,263$1,332$751$410$219$31
46 years$2,189$1,271$706$379$198$27
47 years$2,118$1,213$663$350$180$23
48 years$2,050$1,158$623$323$164$20
49 years$1,985$1,106$586$299$149$17
50 years$1,923$1,056$550$276$135$15

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 $2,561 every year, while hoping to spend $58,858 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: 62/30/8 Blend
53$1,970,000$1,970,000$1,970,000$1,970,000
54$2,173,582$2,069,172$2,038,637$2,304,588
55$2,332,663$2,107,937$2,044,307$2,431,208
56$2,505,997$2,146,628$2,048,194$2,562,294
57$2,694,977$2,185,181$2,050,176$2,703,873
58$2,901,134$2,223,524$2,050,126$2,856,959
59$3,126,153$2,261,581$2,047,910$3,022,669
60$3,371,892$2,299,270$2,043,386$3,202,234
61$3,640,392$2,336,501$2,036,406$3,397,010
62$3,933,903$2,373,181$2,026,817$3,608,490
63$4,254,902$2,409,207$2,014,456$3,838,322
64$4,606,114$2,444,470$1,999,152$4,088,320
65$4,990,542$2,478,853$1,980,728$4,360,484
66$5,411,491$2,512,232$1,958,997$4,657,018
67$5,872,603$2,544,470$1,933,763$4,980,351
68$6,377,886$2,575,427$1,904,821$5,333,160
69$6,931,755$2,604,948$1,871,958$5,718,397
70$7,539,074$2,632,871$1,834,948$6,139,315
71$8,205,199$2,659,020$1,793,558$6,599,498
72$8,936,028$2,683,211$1,747,541$7,102,899
73$9,738,059$2,705,244$1,696,640$7,653,873
74$10,618,450$2,724,910$1,640,586$8,257,224
75$11,585,085$2,741,984$1,579,099$8,918,244
76$12,646,648$2,756,226$1,511,883$9,642,767
77$13,812,708$2,767,382$1,438,633$10,437,224
78$15,093,802$2,775,182$1,359,025$11,308,707
79$16,501,543$2,779,339$1,272,725$12,265,029
80$18,048,720$2,779,547$1,179,382$13,314,805
81$19,749,426$2,775,481$1,078,628$14,467,531
82$21,619,186$2,766,798$970,080$15,733,675
83$23,675,104$2,753,132$853,339$17,124,775
84$25,936,025$2,734,095$727,986$18,653,550
85$28,422,710$2,709,277$593,584$20,334,021
86$31,158,036$2,678,241$449,678$22,181,643
87$34,167,205$2,640,524$295,792$24,213,451
88$37,477,987$2,595,637$131,428$26,448,223
89$41,120,980$2,543,061$0$28,906,660
90$45,129,895$2,482,247$0$31,615,331
91$49,541,879$2,412,612$0$34,607,849
92$54,397,861$2,333,539$0$37,900,753
93$59,742,938$2,244,378$0$41,524,651
94$65,626,802$2,144,437$0$45,513,278
95$72,104,208$2,032,987$0$49,903,814
96$79,235,490$1,909,255$0$54,737,238
97$87,087,126$1,772,425$0$60,058,715
98$95,732,372$1,621,633$0$65,918,024
99$105,251,947$1,455,966$0$72,370,028
100$115,734,798$1,274,461$0$79,475,195