Can I retire at age 54 with 2,020,000?

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 $2,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$166,810$165,324$163,874$162,459$161,078$158,019
2 years$82,579$81,041$79,551$78,105$76,704$73,634
3 years$54,506$52,961$51,474$50,043$48,664$45,679
4 years$40,472$38,932$37,460$36,053$34,708$31,831
5 years$32,054$30,523$29,071$27,692$26,384$23,623
6 years$26,444$24,925$23,493$22,146$20,877$18,235
7 years$22,438$20,932$19,523$18,207$16,978$14,456
8 years$19,435$17,942$16,557$15,274$14,085$11,682
9 years$17,101$15,622$14,261$13,010$11,862$9,576
10 years$15,234$13,770$12,433$11,214$10,107$7,936
11 years$13,708$12,259$10,946$9,760$8,692$6,634
12 years$12,437$11,003$9,714$8,561$7,533$5,585
13 years$11,363$9,943$8,679$7,558$6,569$4,727
14 years$10,443$9,038$7,798$6,709$5,758$4,020
15 years$9,646$8,256$7,040$5,983$5,070$3,432
16 years$8,949$7,575$6,383$5,357$4,481$2,939
17 years$8,335$6,976$5,808$4,814$3,973$2,524
18 years$7,790$6,447$5,302$4,338$3,532$2,172
19 years$7,303$5,975$4,854$3,920$3,149$1,873
20 years$6,865$5,552$4,455$3,550$2,812$1,617
21 years$6,470$5,171$4,098$3,222$2,517$1,399
22 years$6,110$4,827$3,777$2,929$2,256$1,211
23 years$5,783$4,515$3,487$2,668$2,025$1,050
24 years$5,483$4,230$3,225$2,433$1,820$911
25 years$5,208$3,970$2,987$2,222$1,638$791
26 years$4,954$3,731$2,770$2,032$1,475$687
27 years$4,720$3,511$2,572$1,860$1,330$597
28 years$4,502$3,309$2,391$1,704$1,200$519
29 years$4,300$3,121$2,225$1,563$1,084$452
30 years$4,112$2,948$2,073$1,434$979$393
31 years$3,936$2,787$1,932$1,317$885$343
32 years$3,772$2,637$1,803$1,210$801$298
33 years$3,618$2,497$1,683$1,113$725$260
34 years$3,473$2,367$1,573$1,024$656$226
35 years$3,337$2,245$1,471$943$594$197
36 years$3,208$2,131$1,376$868$538$172
37 years$3,087$2,023$1,288$800$488$150
38 years$2,973$1,923$1,206$737$442$131
39 years$2,864$1,829$1,130$680$401$114
40 years$2,762$1,740$1,059$627$364$99
41 years$2,664$1,656$993$579$330$87
42 years$2,572$1,577$931$534$300$76
43 years$2,484$1,503$874$493$272$66
44 years$2,400$1,432$820$455$247$58
45 years$2,320$1,366$770$420$224$50
46 years$2,244$1,303$723$388$203$44
47 years$2,172$1,244$680$359$185$38
48 years$2,102$1,187$639$331$168$33
49 years$2,036$1,134$600$306$152$29
50 years$1,972$1,083$564$283$138$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,020,000, adding $5,678 every year, while hoping to spend $33,452 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: 30/45/25 Blend
53$2,020,000$2,020,000$2,020,000$2,020,000
54$2,231,897$2,124,837$2,093,527$2,281,452
55$2,423,958$2,193,361$2,128,067$2,388,748
56$2,634,488$2,264,122$2,162,644$2,500,754
57$2,865,335$2,337,194$2,197,222$2,620,570
58$3,118,536$2,412,653$2,231,766$2,748,897
59$3,396,333$2,490,579$2,266,236$2,886,503
60$3,701,196$2,571,055$2,300,592$3,034,233
61$4,035,845$2,654,164$2,334,790$3,193,016
62$4,403,279$2,739,995$2,368,782$3,363,872
63$4,806,798$2,828,640$2,402,521$3,547,922
64$5,250,039$2,920,190$2,435,953$3,746,399
65$5,737,008$3,014,745$2,469,022$3,960,661
66$6,272,119$3,112,404$2,501,671$4,192,197
67$6,860,234$3,213,271$2,533,836$4,442,649
68$7,506,711$3,317,454$2,565,453$4,713,822
69$8,217,450$3,425,064$2,596,450$5,007,701
70$8,998,954$3,536,216$2,626,755$5,326,472
71$9,858,386$3,651,029$2,656,290$5,672,538
72$10,803,639$3,769,627$2,684,973$6,048,545
73$11,843,408$3,892,136$2,712,717$6,457,408
74$12,987,274$4,018,689$2,739,432$6,902,331
75$14,245,793$4,149,422$2,765,020$7,386,845
76$15,630,596$4,284,476$2,789,381$7,914,834
77$17,154,499$4,423,998$2,812,407$8,490,578
78$18,831,622$4,568,137$2,833,986$9,118,787
79$20,677,523$4,717,052$2,854,001$9,804,648
80$22,709,346$4,870,903$2,872,325$10,553,873
81$24,945,980$5,029,859$2,888,829$11,372,752
82$27,408,240$5,194,092$2,903,375$12,268,213
83$30,119,061$5,363,782$2,915,818$13,247,886
84$33,103,713$5,539,116$2,926,006$14,320,173
85$36,390,044$5,720,284$2,933,779$15,494,331
86$40,008,737$5,907,487$2,938,970$16,780,555
87$43,993,605$6,100,931$2,941,402$18,190,075
88$48,381,905$6,300,829$2,940,892$19,735,261
89$53,214,692$6,507,402$2,937,244$21,429,741
90$58,537,204$6,720,878$2,930,255$23,288,526
91$64,399,293$6,941,495$2,919,713$25,328,154
92$70,855,891$7,169,498$2,905,393$27,566,843
93$77,967,530$7,405,142$2,887,062$30,024,665
94$85,800,912$7,648,688$2,864,473$32,723,733
95$94,429,542$7,900,410$2,837,369$35,688,410
96$103,934,415$8,160,590$2,805,480$38,945,537
97$114,404,786$8,429,520$2,768,525$42,524,686
98$125,939,011$8,707,503$2,726,207$46,458,440
99$138,645,472$8,994,853$2,678,218$50,782,700
100$152,643,604$9,291,895$2,624,231$55,537,020