Can I retire at age 54 with 1,980,000?

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$163,507$162,050$160,629$159,242$157,888$154,448
2 years$80,944$79,436$77,975$76,559$75,185$71,736
3 years$53,427$51,913$50,455$49,052$47,700$44,351
4 years$39,671$38,161$36,718$35,339$34,020$30,796
5 years$31,419$29,919$28,495$27,144$25,862$22,771
6 years$25,920$24,431$23,028$21,707$20,463$17,511
7 years$21,994$20,517$19,137$17,847$16,642$13,827
8 years$19,050$17,587$16,229$14,971$13,806$11,128
9 years$16,762$15,313$13,978$12,752$11,627$9,084
10 years$14,932$13,497$12,187$10,992$9,907$7,496
11 years$13,437$12,016$10,729$9,567$8,520$6,239
12 years$12,191$10,785$9,522$8,391$7,383$5,228
13 years$11,138$9,746$8,507$7,408$6,438$4,405
14 years$10,236$8,859$7,644$6,576$5,644$3,728
15 years$9,455$8,093$6,901$5,865$4,969$3,167
16 years$8,772$7,425$6,257$5,251$4,392$2,699
17 years$8,170$6,838$5,693$4,718$3,894$2,306
18 years$7,636$6,319$5,197$4,252$3,463$1,974
19 years$7,159$5,856$4,758$3,842$3,086$1,693
20 years$6,729$5,442$4,367$3,480$2,757$1,455
21 years$6,342$5,069$4,016$3,158$2,467$1,252
22 years$5,989$4,732$3,702$2,871$2,211$1,078
23 years$5,668$4,425$3,418$2,615$1,985$929
24 years$5,375$4,146$3,161$2,385$1,784$802
25 years$5,105$3,891$2,928$2,178$1,605$692
26 years$4,856$3,657$2,715$1,992$1,446$598
27 years$4,626$3,442$2,521$1,823$1,304$517
28 years$4,413$3,243$2,344$1,670$1,176$447
29 years$4,215$3,059$2,181$1,532$1,062$387
30 years$4,030$2,889$2,032$1,406$960$335
31 years$3,858$2,731$1,894$1,291$868$290
32 years$3,697$2,584$1,767$1,186$785$251
33 years$3,546$2,448$1,650$1,091$710$217
34 years$3,404$2,320$1,542$1,004$643$188
35 years$3,270$2,200$1,441$924$583$163
36 years$3,145$2,088$1,348$851$528$141
37 years$3,026$1,983$1,262$784$478$122
38 years$2,914$1,885$1,182$723$434$106
39 years$2,808$1,792$1,107$666$393$92
40 years$2,707$1,705$1,038$615$357$80
41 years$2,612$1,623$973$567$324$69
42 years$2,521$1,546$913$523$294$60
43 years$2,435$1,473$857$483$267$52
44 years$2,353$1,404$804$446$242$45
45 years$2,274$1,339$755$412$220$39
46 years$2,200$1,277$709$381$199$34
47 years$2,129$1,219$666$352$181$29
48 years$2,060$1,164$626$325$164$25
49 years$1,995$1,111$588$300$149$22
50 years$1,933$1,061$553$278$136$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,980,000, adding $6,175 every year, while hoping to spend $35,265 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: 68/13/19 Blend
53$1,980,000$1,980,000$1,980,000$1,980,000
54$2,188,330$2,083,390$2,052,700$2,326,514
55$2,374,017$2,147,954$2,083,943$2,484,204
56$2,577,464$2,214,500$2,115,052$2,651,939
57$2,800,442$2,283,088$2,145,983$2,834,557
58$3,044,907$2,353,779$2,176,693$3,033,523
59$3,313,010$2,426,636$2,207,135$3,250,449
60$3,607,121$2,501,726$2,237,258$3,487,109
61$3,929,852$2,579,115$2,267,011$3,745,460
62$4,284,077$2,658,872$2,296,336$4,027,654
63$4,672,965$2,741,069$2,325,176$4,336,064
64$5,100,005$2,825,778$2,353,466$4,673,302
65$5,569,040$2,913,076$2,381,142$5,042,246
66$6,084,305$3,003,040$2,408,133$5,446,066
67$6,650,465$3,095,750$2,434,367$5,888,254
68$7,272,658$3,191,287$2,459,764$6,372,657
69$7,956,547$3,289,737$2,484,243$6,903,513
70$8,708,367$3,391,187$2,507,717$7,485,491
71$9,534,990$3,495,725$2,530,096$8,123,734
72$10,443,988$3,603,445$2,551,283$8,823,910
73$11,443,702$3,714,440$2,571,178$9,592,263
74$12,543,320$3,828,808$2,589,673$10,435,671
75$13,752,969$3,946,650$2,606,657$11,361,714
76$15,083,804$4,068,069$2,622,013$12,378,742
77$16,548,118$4,193,170$2,635,616$13,495,957
78$18,159,453$4,322,062$2,647,336$14,723,498
79$19,932,733$4,454,858$2,657,037$16,072,535
80$21,884,398$4,591,673$2,664,575$17,555,377
81$24,032,568$4,732,626$2,669,799$19,185,587
82$26,397,203$4,877,838$2,672,551$20,978,111
83$29,000,301$5,027,435$2,672,664$22,949,415
84$31,866,098$5,181,546$2,669,964$25,117,646
85$35,021,300$5,340,302$2,664,269$27,502,798
86$38,495,337$5,503,841$2,655,386$30,126,906
87$42,320,634$5,672,302$2,643,114$33,014,247
88$46,532,923$5,845,829$2,627,242$36,191,577
89$51,171,576$6,024,569$2,607,550$39,688,376
90$56,279,979$6,208,675$2,583,805$43,537,131
91$61,905,939$6,398,303$2,555,765$47,773,642
92$68,102,138$6,593,613$2,523,176$52,437,357
93$74,926,625$6,794,769$2,485,772$57,571,747
94$82,443,369$7,001,941$2,443,273$63,224,716
95$90,722,860$7,215,303$2,395,390$69,449,054
96$99,842,771$7,435,033$2,341,815$76,302,931
97$109,888,699$7,661,314$2,282,231$83,850,451
98$120,954,962$7,894,335$2,216,302$92,162,254
99$133,145,500$8,134,289$2,143,680$101,316,186
100$146,574,846$8,381,374$2,063,998$111,398,029