Can I retire at age 54 with 2,070,000?

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 $2,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$170,939$169,416$167,930$166,481$165,065$161,205
2 years$84,623$83,047$81,520$80,039$78,602$74,736
3 years$55,855$54,272$52,749$51,282$49,868$46,116
4 years$41,474$39,896$38,387$36,945$35,567$31,957
5 years$32,847$31,279$29,790$28,378$27,037$23,580
6 years$27,098$25,541$24,075$22,694$21,394$18,093
7 years$22,993$21,450$20,006$18,658$17,399$14,255
8 years$19,916$18,386$16,967$15,652$14,434$11,446
9 years$17,524$16,009$14,614$13,332$12,155$9,321
10 years$15,611$14,111$12,741$11,492$10,357$7,673
11 years$14,047$12,562$11,217$10,002$8,907$6,369
12 years$12,745$11,275$9,954$8,773$7,719$5,323
13 years$11,644$10,189$8,894$7,745$6,731$4,473
14 years$10,701$9,262$7,991$6,875$5,900$3,776
15 years$9,885$8,461$7,215$6,131$5,195$3,199
16 years$9,171$7,763$6,541$5,490$4,592$2,718
17 years$8,542$7,149$5,952$4,933$4,071$2,315
18 years$7,983$6,606$5,434$4,445$3,620$1,977
19 years$7,484$6,122$4,974$4,017$3,226$1,691
20 years$7,035$5,689$4,565$3,638$2,882$1,448
21 years$6,630$5,299$4,199$3,302$2,579$1,242
22 years$6,262$4,947$3,870$3,002$2,312$1,066
23 years$5,926$4,627$3,573$2,734$2,075$916
24 years$5,619$4,335$3,305$2,494$1,865$788
25 years$5,337$4,068$3,061$2,277$1,678$678
26 years$5,077$3,823$2,839$2,082$1,512$584
27 years$4,836$3,598$2,636$1,906$1,363$503
28 years$4,614$3,391$2,451$1,746$1,230$434
29 years$4,407$3,199$2,280$1,601$1,111$374
30 years$4,214$3,021$2,124$1,470$1,003$323
31 years$4,034$2,856$1,980$1,350$907$278
32 years$3,865$2,702$1,848$1,240$821$240
33 years$3,707$2,559$1,725$1,141$743$207
34 years$3,559$2,425$1,612$1,050$672$179
35 years$3,419$2,300$1,507$966$609$155
36 years$3,288$2,183$1,410$890$552$134
37 years$3,164$2,074$1,320$820$500$115
38 years$3,046$1,971$1,236$756$453$100
39 years$2,935$1,874$1,158$697$411$86
40 years$2,830$1,783$1,085$643$373$74
41 years$2,730$1,697$1,017$593$338$64
42 years$2,635$1,616$954$547$307$55
43 years$2,545$1,540$896$505$279$48
44 years$2,459$1,468$841$466$253$41
45 years$2,378$1,400$789$431$230$36
46 years$2,300$1,335$741$398$208$31
47 years$2,225$1,274$697$368$189$27
48 years$2,154$1,217$655$340$172$23
49 years$2,086$1,162$615$314$156$20
50 years$2,021$1,110$578$290$142$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,070,000, adding $5,315 every year, while hoping to spend $28,057 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: 47/44/9 Blend
53$2,070,000$2,070,000$2,070,000$2,070,000
54$2,286,622$2,176,912$2,144,827$2,388,212
55$2,490,005$2,253,729$2,186,827$2,535,477
56$2,713,193$2,333,369$2,229,293$2,691,852
57$2,958,176$2,415,941$2,272,211$2,860,912
58$3,227,147$2,501,559$2,315,567$3,043,846
59$3,522,521$2,590,340$2,359,343$3,241,957
60$3,846,958$2,682,407$2,403,521$3,456,676
61$4,203,390$2,777,887$2,448,081$3,689,581
62$4,595,045$2,876,912$2,493,001$3,942,401
63$5,025,480$2,979,622$2,538,258$4,217,042
64$5,498,615$3,086,159$2,583,825$4,515,597
65$6,018,766$3,196,674$2,629,676$4,840,368
66$6,590,691$3,311,321$2,675,781$5,193,889
67$7,219,629$3,430,264$2,722,107$5,578,945
68$7,911,355$3,553,670$2,768,621$5,998,602
69$8,672,229$3,681,716$2,815,286$6,456,233
70$9,509,261$3,814,585$2,862,063$6,955,548
71$10,430,173$3,952,467$2,908,909$7,500,632
72$11,443,473$4,095,560$2,955,780$8,095,979
73$12,558,537$4,244,072$3,002,628$8,746,535
74$13,785,694$4,398,217$3,049,402$9,457,746
75$15,136,325$4,558,221$3,096,048$10,235,605
76$16,622,973$4,724,316$3,142,508$11,086,710
77$18,259,455$4,896,746$3,188,721$12,018,326
78$20,060,997$5,075,765$3,234,621$13,038,449
79$22,044,378$5,261,637$3,280,140$14,155,886
80$24,228,085$5,454,637$3,325,205$15,380,331
81$26,632,487$5,655,052$3,369,737$16,722,461
82$29,280,033$5,863,181$3,413,655$18,194,033
83$32,195,455$6,079,337$3,456,872$19,807,992
84$35,406,010$6,303,843$3,499,295$21,578,599
85$38,941,730$6,537,038$3,540,829$23,521,554
86$42,835,709$6,779,275$3,581,369$25,654,152
87$47,124,414$7,030,923$3,620,808$27,995,441
88$51,848,031$7,292,364$3,659,031$30,566,401
89$57,050,839$7,563,999$3,695,918$33,390,141
90$62,781,635$7,846,245$3,731,341$36,492,113
91$69,094,188$8,139,537$3,765,167$39,900,357
92$76,047,748$8,444,328$3,797,254$43,645,756
93$83,707,610$8,761,091$3,827,453$47,762,334
94$92,145,722$9,090,320$3,855,608$52,287,569
95$101,441,369$9,432,530$3,881,555$57,262,749
96$111,681,921$9,788,256$3,905,119$62,733,357
97$122,963,655$10,158,059$3,926,119$68,749,501
98$135,392,667$10,542,523$3,944,363$75,366,384
99$149,085,870$10,942,257$3,959,650$82,644,824
100$164,172,099$11,357,898$3,971,768$90,651,822