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%16.2%
1 years$166,810$165,324$163,874$162,459$161,078$156,993
2 years$82,579$81,041$79,551$78,105$76,704$72,614
3 years$54,506$52,961$51,474$50,043$48,664$44,699
4 years$40,472$38,932$37,460$36,053$34,708$30,897
5 years$32,054$30,523$29,071$27,692$26,384$22,738
6 years$26,444$24,925$23,493$22,146$20,877$17,399
7 years$22,438$20,932$19,523$18,207$16,978$13,670
8 years$19,435$17,942$16,557$15,274$14,085$10,944
9 years$17,101$15,622$14,261$13,010$11,862$8,885
10 years$15,234$13,770$12,433$11,214$10,107$7,291
11 years$13,708$12,259$10,946$9,760$8,692$6,034
12 years$12,437$11,003$9,714$8,561$7,533$5,026
13 years$11,363$9,943$8,679$7,558$6,569$4,210
14 years$10,443$9,038$7,798$6,709$5,758$3,541
15 years$9,646$8,256$7,040$5,983$5,070$2,989
16 years$8,949$7,575$6,383$5,357$4,481$2,531
17 years$8,335$6,976$5,808$4,814$3,973$2,148
18 years$7,790$6,447$5,302$4,338$3,532$1,827
19 years$7,303$5,975$4,854$3,920$3,149$1,557
20 years$6,865$5,552$4,455$3,550$2,812$1,329
21 years$6,470$5,171$4,098$3,222$2,517$1,135
22 years$6,110$4,827$3,777$2,929$2,256$971
23 years$5,783$4,515$3,487$2,668$2,025$831
24 years$5,483$4,230$3,225$2,433$1,820$712
25 years$5,208$3,970$2,987$2,222$1,638$610
26 years$4,954$3,731$2,770$2,032$1,475$523
27 years$4,720$3,511$2,572$1,860$1,330$449
28 years$4,502$3,309$2,391$1,704$1,200$386
29 years$4,300$3,121$2,225$1,563$1,084$331
30 years$4,112$2,948$2,073$1,434$979$284
31 years$3,936$2,787$1,932$1,317$885$244
32 years$3,772$2,637$1,803$1,210$801$210
33 years$3,618$2,497$1,683$1,113$725$181
34 years$3,473$2,367$1,573$1,024$656$155
35 years$3,337$2,245$1,471$943$594$133
36 years$3,208$2,131$1,376$868$538$115
37 years$3,087$2,023$1,288$800$488$99
38 years$2,973$1,923$1,206$737$442$85
39 years$2,864$1,829$1,130$680$401$73
40 years$2,762$1,740$1,059$627$364$63
41 years$2,664$1,656$993$579$330$54
42 years$2,572$1,577$931$534$300$47
43 years$2,484$1,503$874$493$272$40
44 years$2,400$1,432$820$455$247$34
45 years$2,320$1,366$770$420$224$30
46 years$2,244$1,303$723$388$203$25
47 years$2,172$1,244$680$359$185$22
48 years$2,102$1,187$639$331$168$19
49 years$2,036$1,134$600$306$152$16
50 years$1,972$1,083$564$283$138$14

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 $4,451 every year, while hoping to spend $49,352 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: 45/40/15 Blend
53$2,020,000$2,020,000$2,020,000$2,020,000
54$2,230,631$2,123,571$2,092,261$2,321,249
55$2,405,645$2,175,116$2,109,842$2,436,420
56$2,596,857$2,227,533$2,126,357$2,555,913
57$2,805,866$2,280,811$2,141,720$2,684,418
58$3,034,434$2,334,941$2,155,837$2,822,790
59$3,284,501$2,389,907$2,168,612$2,971,970
60$3,558,202$2,445,694$2,179,942$3,132,996
61$3,857,888$2,502,284$2,189,721$3,307,007
62$4,186,151$2,559,653$2,197,834$3,495,263
63$4,545,841$2,617,779$2,204,165$3,699,150
64$4,940,100$2,676,633$2,208,587$3,920,193
65$5,372,386$2,736,185$2,210,971$4,160,075
66$5,846,511$2,796,399$2,211,179$4,420,650
67$6,366,669$2,857,236$2,209,068$4,703,961
68$6,937,483$2,918,655$2,204,486$5,012,258
69$7,564,046$2,980,608$2,197,275$5,348,023
70$8,251,964$3,043,043$2,187,269$5,713,988
71$9,007,416$3,105,904$2,174,295$6,113,168
72$9,837,207$3,169,128$2,158,168$6,548,881
73$10,748,834$3,232,648$2,138,699$7,024,790
74$11,750,557$3,296,389$2,115,687$7,544,927
75$12,851,474$3,360,273$2,088,923$8,113,738
76$14,061,609$3,424,210$2,058,186$8,736,124
77$15,392,005$3,488,108$2,023,247$9,417,486
78$16,854,828$3,551,865$1,983,865$10,163,778
79$18,463,485$3,615,370$1,939,788$10,981,563
80$20,232,742$3,678,505$1,890,753$11,878,073
81$22,178,872$3,741,142$1,836,484$12,861,281
82$24,319,802$3,803,144$1,776,691$13,939,976
83$26,675,286$3,864,362$1,711,075$15,123,845
84$29,267,088$3,924,638$1,639,318$16,423,565
85$32,119,187$3,983,801$1,561,092$17,850,906
86$35,258,007$4,041,670$1,476,051$19,418,841
87$38,712,660$4,098,048$1,383,835$21,141,669
88$42,515,225$4,152,727$1,284,067$23,035,152
89$46,701,049$4,205,481$1,176,354$25,116,664
90$51,309,079$4,256,072$1,060,285$27,405,356
91$56,382,230$4,304,245$935,430$29,922,335
92$61,967,791$4,349,727$801,340$32,690,868
93$68,117,869$4,392,226$657,548$35,736,600
94$74,889,879$4,431,433$503,563$39,087,798
95$82,347,090$4,467,016$338,876$42,775,620
96$90,559,217$4,498,624$162,953$46,834,408
97$99,603,082$4,525,882$0$51,302,013
98$109,563,336$4,548,390$0$56,224,126
99$120,533,260$4,565,725$0$61,670,854
100$132,615,641$4,577,434$0$67,666,873