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%15.1%
1 years$166,810$165,324$163,874$162,459$161,078$157,696
2 years$82,579$81,041$79,551$78,105$76,704$73,313
3 years$54,506$52,961$51,474$50,043$48,664$45,370
4 years$40,472$38,932$37,460$36,053$34,708$31,535
5 years$32,054$30,523$29,071$27,692$26,384$23,343
6 years$26,444$24,925$23,493$22,146$20,877$17,969
7 years$22,438$20,932$19,523$18,207$16,978$14,206
8 years$19,435$17,942$16,557$15,274$14,085$11,446
9 years$17,101$15,622$14,261$13,010$11,862$9,355
10 years$15,234$13,770$12,433$11,214$10,107$7,729
11 years$13,708$12,259$10,946$9,760$8,692$6,441
12 years$12,437$11,003$9,714$8,561$7,533$5,404
13 years$11,363$9,943$8,679$7,558$6,569$4,559
14 years$10,443$9,038$7,798$6,709$5,758$3,864
15 years$9,646$8,256$7,040$5,983$5,070$3,287
16 years$8,949$7,575$6,383$5,357$4,481$2,805
17 years$8,335$6,976$5,808$4,814$3,973$2,400
18 years$7,790$6,447$5,302$4,338$3,532$2,058
19 years$7,303$5,975$4,854$3,920$3,149$1,768
20 years$6,865$5,552$4,455$3,550$2,812$1,521
21 years$6,470$5,171$4,098$3,222$2,517$1,311
22 years$6,110$4,827$3,777$2,929$2,256$1,131
23 years$5,783$4,515$3,487$2,668$2,025$976
24 years$5,483$4,230$3,225$2,433$1,820$844
25 years$5,208$3,970$2,987$2,222$1,638$729
26 years$4,954$3,731$2,770$2,032$1,475$631
27 years$4,720$3,511$2,572$1,860$1,330$547
28 years$4,502$3,309$2,391$1,704$1,200$473
29 years$4,300$3,121$2,225$1,563$1,084$410
30 years$4,112$2,948$2,073$1,434$979$356
31 years$3,936$2,787$1,932$1,317$885$308
32 years$3,772$2,637$1,803$1,210$801$267
33 years$3,618$2,497$1,683$1,113$725$232
34 years$3,473$2,367$1,573$1,024$656$201
35 years$3,337$2,245$1,471$943$594$175
36 years$3,208$2,131$1,376$868$538$152
37 years$3,087$2,023$1,288$800$488$132
38 years$2,973$1,923$1,206$737$442$114
39 years$2,864$1,829$1,130$680$401$99
40 years$2,762$1,740$1,059$627$364$86
41 years$2,664$1,656$993$579$330$75
42 years$2,572$1,577$931$534$300$65
43 years$2,484$1,503$874$493$272$56
44 years$2,400$1,432$820$455$247$49
45 years$2,320$1,366$770$420$224$43
46 years$2,244$1,303$723$388$203$37
47 years$2,172$1,244$680$359$185$32
48 years$2,102$1,187$639$331$168$28
49 years$2,036$1,134$600$306$152$24
50 years$1,972$1,083$564$283$138$21

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 $6,172 every year, while hoping to spend $35,332 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: 37/33/30 Blend
53$2,020,000$2,020,000$2,020,000$2,020,000
54$2,232,406$2,125,346$2,094,036$2,294,821
55$2,422,519$2,191,895$2,126,594$2,408,281
56$2,630,839$2,260,521$2,159,057$2,527,119
57$2,859,186$2,331,288$2,191,387$2,654,824
58$3,109,564$2,404,263$2,223,540$2,792,225
59$3,384,181$2,479,513$2,255,470$2,940,230
60$3,685,469$2,557,111$2,287,130$3,099,840
61$4,016,105$2,637,127$2,318,467$3,272,158
62$4,379,040$2,719,639$2,349,428$3,458,394
63$4,777,523$2,804,722$2,379,954$3,659,884
64$5,215,133$2,892,456$2,409,986$3,878,094
65$5,695,814$2,982,924$2,439,458$4,114,643
66$6,223,910$3,076,210$2,468,303$4,371,308
67$6,804,206$3,172,401$2,496,448$4,650,049
68$7,441,974$3,271,588$2,523,818$4,953,024
69$8,143,022$3,373,863$2,550,333$5,282,608
70$8,913,749$3,479,321$2,575,908$5,641,418
71$9,761,205$3,588,061$2,600,454$6,032,333
72$10,693,156$3,700,184$2,623,877$6,458,527
73$11,718,160$3,815,795$2,646,079$6,923,495
74$12,845,645$3,935,001$2,666,955$7,431,086
75$14,085,998$4,057,914$2,686,396$7,985,541
76$15,450,666$4,184,648$2,704,286$8,591,530
77$16,952,258$4,315,320$2,720,504$9,254,197
78$18,604,670$4,450,052$2,734,922$9,979,212
79$20,423,211$4,588,970$2,747,407$10,772,819
80$22,424,751$4,732,202$2,757,818$11,641,897
81$24,627,877$4,879,881$2,766,006$12,594,024
82$27,053,069$5,032,144$2,771,816$13,637,552
83$29,722,895$5,189,132$2,775,085$14,781,680
84$32,662,221$5,350,990$2,775,641$16,036,544
85$35,898,448$5,517,869$2,773,305$17,413,314
86$39,461,767$5,689,922$2,767,888$18,924,294
87$43,385,448$5,867,308$2,759,193$20,583,043
88$47,706,149$6,050,192$2,747,011$22,404,502
89$52,464,267$6,238,742$2,731,127$24,405,133
90$57,704,313$6,433,131$2,711,310$26,603,075
91$63,475,338$6,633,540$2,687,324$29,018,315
92$69,831,390$6,840,151$2,658,918$31,672,879
93$76,832,030$7,053,156$2,625,829$34,591,035
94$84,542,886$7,272,750$2,587,784$37,799,527
95$93,036,281$7,499,135$2,544,495$41,327,823
96$102,391,908$7,732,519$2,495,661$45,208,398
97$112,697,585$7,973,115$2,440,968$49,477,034
98$124,050,084$8,221,143$2,380,087$54,173,165
99$136,556,045$8,476,832$2,312,672$59,340,242
100$150,332,979$8,740,414$2,238,364$65,026,151