Can I retire at age 54 with 2,060,000?

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$170,113$168,598$167,119$165,676$164,267$162,484
2 years$84,214$82,646$81,126$79,652$78,223$76,427
3 years$55,585$54,010$52,494$51,034$49,628$47,876
4 years$41,273$39,703$38,202$36,767$35,395$33,700
5 years$32,689$31,128$29,646$28,241$26,907$25,274
6 years$26,967$25,418$23,959$22,584$21,290$19,721
7 years$22,882$21,346$19,910$18,568$17,315$15,810
8 years$19,820$18,298$16,885$15,576$14,364$12,924
9 years$17,439$15,931$14,543$13,267$12,097$10,721
10 years$15,536$14,043$12,679$11,437$10,307$8,994
11 years$13,980$12,501$11,162$9,953$8,864$7,613
12 years$12,684$11,221$9,906$8,730$7,682$6,491
13 years$11,588$10,140$8,851$7,708$6,699$5,567
14 years$10,649$9,217$7,952$6,842$5,872$4,798
15 years$9,837$8,420$7,180$6,102$5,170$4,152
16 years$9,127$7,725$6,510$5,463$4,569$3,606
17 years$8,501$7,115$5,924$4,909$4,052$3,141
18 years$7,945$6,574$5,407$4,424$3,602$2,742
19 years$7,448$6,093$4,950$3,997$3,211$2,399
20 years$7,001$5,662$4,543$3,620$2,868$2,103
21 years$6,598$5,274$4,179$3,286$2,567$1,847
22 years$6,231$4,923$3,851$2,987$2,301$1,624
23 years$5,897$4,604$3,556$2,721$2,065$1,429
24 years$5,592$4,314$3,289$2,481$1,856$1,259
25 years$5,311$4,048$3,046$2,266$1,670$1,111
26 years$5,052$3,805$2,825$2,072$1,505$981
27 years$4,813$3,581$2,623$1,897$1,356$866
28 years$4,591$3,374$2,439$1,738$1,224$766
29 years$4,385$3,183$2,269$1,594$1,105$677
30 years$4,193$3,006$2,114$1,462$999$599
31 years$4,014$2,842$1,971$1,343$903$530
32 years$3,846$2,689$1,839$1,234$817$470
33 years$3,689$2,546$1,717$1,135$739$416
34 years$3,542$2,413$1,604$1,044$669$369
35 years$3,403$2,289$1,500$961$606$327
36 years$3,272$2,173$1,403$885$549$290
37 years$3,148$2,064$1,313$816$498$257
38 years$3,032$1,961$1,230$752$451$228
39 years$2,921$1,865$1,152$693$409$202
40 years$2,816$1,774$1,080$640$371$179
41 years$2,717$1,689$1,013$590$337$159
42 years$2,623$1,608$950$545$306$141
43 years$2,533$1,533$891$503$277$125
44 years$2,448$1,461$837$464$252$111
45 years$2,366$1,393$786$429$228$99
46 years$2,289$1,329$738$396$207$88
47 years$2,215$1,268$693$366$188$78
48 years$2,144$1,211$651$338$171$69
49 years$2,076$1,156$612$312$155$61
50 years$2,011$1,104$576$289$141$54

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,060,000, adding $2,775 every year, while hoping to spend $35,552 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: 63/31/6 Blend
53$2,060,000$2,060,000$2,060,000$2,060,000
54$2,272,982$2,163,802$2,131,872$2,413,652
55$2,467,000$2,232,002$2,165,463$2,575,926
56$2,679,615$2,302,351$2,198,987$2,748,589
57$2,912,688$2,374,919$2,232,406$2,936,173
58$3,168,267$2,449,774$2,265,676$3,140,119
59$3,448,607$2,526,990$2,298,753$3,362,016
60$3,756,192$2,606,640$2,331,589$3,603,608
61$4,093,760$2,688,802$2,364,134$3,866,817
62$4,464,325$2,773,554$2,396,333$4,153,760
63$4,871,207$2,860,979$2,428,131$4,466,764
64$5,318,064$2,951,161$2,459,467$4,808,392
65$5,808,924$3,044,186$2,490,278$5,181,467
66$6,348,228$3,140,145$2,520,496$5,589,095
67$6,940,865$3,239,130$2,550,050$6,034,697
68$7,592,222$3,341,236$2,578,865$6,522,040
69$8,308,234$3,446,562$2,606,863$7,055,271
70$9,095,440$3,555,209$2,633,959$7,638,957
71$9,961,044$3,667,283$2,660,065$8,278,130
72$10,912,982$3,782,892$2,685,089$8,978,329
73$11,959,999$3,902,146$2,708,932$9,745,654
74$13,111,730$4,025,162$2,731,492$10,586,826
75$14,378,788$4,152,057$2,752,659$11,509,247
76$15,772,872$4,282,955$2,772,320$12,521,070
77$17,306,866$4,417,981$2,790,354$13,631,274
78$18,994,970$4,557,266$2,806,635$14,849,753
79$20,852,830$4,700,945$2,821,030$16,187,404
80$22,897,682$4,849,155$2,833,398$17,656,232
81$25,148,523$5,002,040$2,843,594$19,269,460
82$27,626,280$5,159,748$2,851,462$21,041,658
83$30,354,016$5,322,431$2,856,841$22,988,876
84$33,357,141$5,490,246$2,859,561$25,128,798
85$36,663,656$5,663,355$2,859,443$27,480,903
86$40,304,414$5,841,924$2,856,299$30,066,656
87$44,313,413$6,026,127$2,849,934$32,909,704
88$48,728,115$6,216,142$2,840,141$36,036,101
89$53,589,802$6,412,151$2,826,705$39,474,552
90$58,943,959$6,614,345$2,809,397$43,256,686
91$64,840,713$6,822,917$2,787,982$47,417,352
92$71,335,297$7,038,071$2,762,210$51,994,946
93$78,488,574$7,260,014$2,731,821$57,031,775
94$86,367,613$7,488,959$2,696,542$62,574,455
95$95,046,321$7,725,129$2,656,087$68,674,351
96$104,606,136$7,968,751$2,610,157$75,388,060
97$115,136,804$8,220,061$2,558,438$82,777,944
98$126,737,215$8,479,302$2,500,604$90,912,719
99$139,516,348$8,746,724$2,436,310$99,868,104
100$153,594,287$9,022,586$2,365,199$109,727,532