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

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 $2,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$170,939$169,416$167,930$166,481$165,065$162,330
2 years$84,623$83,047$81,520$80,039$78,602$75,855
3 years$55,855$54,272$52,749$51,282$49,868$47,194
4 years$41,474$39,896$38,387$36,945$35,567$32,986
5 years$32,847$31,279$29,790$28,378$27,037$24,558
6 years$27,098$25,541$24,075$22,694$21,394$19,018
7 years$22,993$21,450$20,006$18,658$17,399$15,128
8 years$19,916$18,386$16,967$15,652$14,434$12,267
9 years$17,524$16,009$14,614$13,332$12,155$10,092
10 years$15,611$14,111$12,741$11,492$10,357$8,395
11 years$14,047$12,562$11,217$10,002$8,907$7,044
12 years$12,745$11,275$9,954$8,773$7,719$5,953
13 years$11,644$10,189$8,894$7,745$6,731$5,059
14 years$10,701$9,262$7,991$6,875$5,900$4,319
15 years$9,885$8,461$7,215$6,131$5,195$3,703
16 years$9,171$7,763$6,541$5,490$4,592$3,184
17 years$8,542$7,149$5,952$4,933$4,071$2,746
18 years$7,983$6,606$5,434$4,445$3,620$2,373
19 years$7,484$6,122$4,974$4,017$3,226$2,056
20 years$7,035$5,689$4,565$3,638$2,882$1,783
21 years$6,630$5,299$4,199$3,302$2,579$1,549
22 years$6,262$4,947$3,870$3,002$2,312$1,348
23 years$5,926$4,627$3,573$2,734$2,075$1,174
24 years$5,619$4,335$3,305$2,494$1,865$1,023
25 years$5,337$4,068$3,061$2,277$1,678$893
26 years$5,077$3,823$2,839$2,082$1,512$779
27 years$4,836$3,598$2,636$1,906$1,363$681
28 years$4,614$3,391$2,451$1,746$1,230$595
29 years$4,407$3,199$2,280$1,601$1,111$520
30 years$4,214$3,021$2,124$1,470$1,003$455
31 years$4,034$2,856$1,980$1,350$907$398
32 years$3,865$2,702$1,848$1,240$821$348
33 years$3,707$2,559$1,725$1,141$743$305
34 years$3,559$2,425$1,612$1,050$672$267
35 years$3,419$2,300$1,507$966$609$234
36 years$3,288$2,183$1,410$890$552$205
37 years$3,164$2,074$1,320$820$500$180
38 years$3,046$1,971$1,236$756$453$157
39 years$2,935$1,874$1,158$697$411$138
40 years$2,830$1,783$1,085$643$373$121
41 years$2,730$1,697$1,017$593$338$106
42 years$2,635$1,616$954$547$307$93
43 years$2,545$1,540$896$505$279$82
44 years$2,459$1,468$841$466$253$71
45 years$2,378$1,400$789$431$230$63
46 years$2,300$1,335$741$398$208$55
47 years$2,225$1,274$697$368$189$48
48 years$2,154$1,217$655$340$172$42
49 years$2,086$1,162$615$314$156$37
50 years$2,021$1,110$578$290$142$33

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 $2,198 every year, while hoping to spend $33,372 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: 55/40/5 Blend
53$2,070,000$2,070,000$2,070,000$2,070,000
54$2,283,407$2,173,697$2,141,612$2,406,549
55$2,480,807$2,244,701$2,177,849$2,560,781
56$2,697,224$2,318,065$2,214,181$2,724,699
57$2,934,561$2,393,871$2,250,576$2,902,327
58$3,194,916$2,472,200$2,287,000$3,094,970
59$3,480,600$2,553,141$2,323,417$3,304,062
60$3,794,158$2,636,781$2,359,788$3,531,183
61$4,138,392$2,723,214$2,396,072$3,778,066
62$4,516,391$2,812,534$2,432,223$4,046,623
63$4,931,556$2,904,842$2,468,196$4,338,953
64$5,387,635$3,000,239$2,503,940$4,657,369
65$5,888,755$3,098,832$2,539,404$5,004,414
66$6,439,464$3,200,731$2,574,530$5,382,889
67$7,044,772$3,306,050$2,609,260$5,795,875
68$7,710,199$3,414,906$2,643,530$6,246,763
69$8,441,826$3,527,423$2,677,274$6,739,287
70$9,246,352$3,643,726$2,710,423$7,277,557
71$10,131,158$3,763,947$2,742,900$7,866,099
72$11,104,378$3,888,222$2,774,629$8,509,895
73$12,174,970$4,016,691$2,805,525$9,214,430
74$13,352,809$4,149,501$2,835,502$9,985,745
75$14,648,771$4,286,802$2,864,467$10,830,492
76$16,074,842$4,428,751$2,892,322$11,755,996
77$17,644,226$4,575,510$2,918,965$12,770,322
78$19,371,474$4,727,248$2,944,288$13,882,357
79$21,272,620$4,884,138$2,968,177$15,101,883
80$23,365,327$5,046,361$2,990,511$16,439,678
81$25,669,063$5,214,105$3,011,165$17,907,613
82$28,205,274$5,387,563$3,030,006$19,518,761
83$30,997,594$5,566,936$3,046,894$21,287,524
84$34,072,066$5,752,433$3,061,682$23,229,766
85$37,457,385$5,944,270$3,074,216$25,362,963
86$41,185,170$6,142,671$3,084,335$27,706,365
87$45,290,264$6,347,868$3,091,866$30,281,179
88$49,811,060$6,560,103$3,096,633$33,110,766
89$54,789,864$6,779,624$3,098,446$36,220,866
90$60,273,296$7,006,692$3,097,110$39,639,831
91$66,312,727$7,241,574$3,092,417$43,398,900
92$72,964,763$7,484,549$3,084,152$47,532,488
93$80,291,783$7,735,906$3,072,085$52,078,514
94$88,362,525$7,995,946$3,055,980$57,078,752
95$97,252,733$8,264,977$3,035,586$62,579,229
96$107,045,875$8,543,325$3,010,641$68,630,657
97$117,833,929$8,831,322$2,980,872$75,288,911
98$129,718,249$9,129,316$2,945,991$82,615,552
99$142,810,526$9,437,668$2,905,697$90,678,411
100$157,233,837$9,756,751$2,859,675$99,552,228