Can I retire at age 54 with 2,080,000?

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 $2,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$171,764$170,234$168,742$167,285$165,862$163,182
2 years$85,032$83,448$81,913$80,425$78,982$76,289
3 years$56,125$54,534$53,003$51,529$50,109$47,487
4 years$41,674$40,089$38,573$37,124$35,738$33,208
5 years$33,006$31,430$29,934$28,515$27,168$24,736
6 years$27,229$25,665$24,191$22,803$21,497$19,166
7 years$23,104$21,553$20,103$18,748$17,483$15,254
8 years$20,012$18,475$17,049$15,727$14,504$12,377
9 years$17,609$16,086$14,684$13,396$12,214$10,188
10 years$15,687$14,179$12,802$11,548$10,407$8,480
11 years$14,115$12,623$11,271$10,050$8,950$7,120
12 years$12,807$11,329$10,003$8,815$7,756$6,021
13 years$11,700$10,239$8,937$7,782$6,764$5,120
14 years$10,753$9,307$8,030$6,908$5,929$4,375
15 years$9,932$8,502$7,250$6,161$5,220$3,752
16 years$9,215$7,800$6,573$5,517$4,614$3,229
17 years$8,583$7,184$5,981$4,957$4,091$2,787
18 years$8,022$6,638$5,460$4,467$3,637$2,411
19 years$7,520$6,152$4,998$4,036$3,242$2,089
20 years$7,069$5,717$4,587$3,656$2,896$1,814
21 years$6,662$5,325$4,219$3,318$2,591$1,577
22 years$6,292$4,971$3,889$3,016$2,323$1,373
23 years$5,955$4,649$3,591$2,747$2,085$1,197
24 years$5,646$4,356$3,321$2,506$1,874$1,044
25 years$5,363$4,088$3,076$2,288$1,686$911
26 years$5,101$3,842$2,852$2,092$1,519$796
27 years$4,860$3,616$2,649$1,915$1,370$696
28 years$4,636$3,407$2,462$1,755$1,236$609
29 years$4,428$3,214$2,291$1,609$1,116$533
30 years$4,234$3,035$2,134$1,477$1,008$466
31 years$4,053$2,869$1,990$1,356$912$409
32 years$3,884$2,715$1,857$1,246$825$358
33 years$3,725$2,571$1,733$1,146$746$314
34 years$3,576$2,437$1,620$1,055$676$275
35 years$3,436$2,311$1,514$971$612$241
36 years$3,304$2,194$1,417$894$554$211
37 years$3,179$2,084$1,326$824$503$185
38 years$3,061$1,980$1,242$759$456$163
39 years$2,949$1,883$1,163$700$413$143
40 years$2,844$1,791$1,090$646$375$125
41 years$2,743$1,705$1,022$596$340$110
42 years$2,648$1,624$959$550$309$96
43 years$2,558$1,547$900$508$280$84
44 years$2,471$1,475$845$469$254$74
45 years$2,389$1,407$793$433$231$65
46 years$2,311$1,342$745$400$209$57
47 years$2,236$1,280$700$369$190$50
48 years$2,165$1,222$658$341$173$44
49 years$2,096$1,167$618$315$157$39
50 years$2,031$1,115$581$292$143$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,080,000, adding $6,958 every year, while hoping to spend $26,940 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: 59/25/16 Blend
53$2,080,000$2,080,000$2,080,000$2,080,000
54$2,299,337$2,189,097$2,156,857$2,425,173
55$2,505,206$2,267,699$2,200,448$2,589,634
56$2,731,170$2,349,249$2,244,596$2,765,309
57$2,979,251$2,433,864$2,289,292$2,956,260
58$3,251,675$2,521,665$2,334,524$3,163,965
59$3,550,897$2,612,777$2,380,281$3,390,050
60$3,879,616$2,707,331$2,426,548$3,636,304
61$4,240,810$2,805,463$2,473,311$3,904,695
62$4,637,759$2,907,317$2,520,553$4,197,391
63$5,074,075$3,013,040$2,568,256$4,516,776
64$5,553,737$3,122,786$2,616,399$4,865,475
65$6,081,132$3,236,715$2,664,962$5,246,378
66$6,661,089$3,354,997$2,713,920$5,662,665
67$7,298,932$3,477,804$2,763,249$6,117,840
68$8,000,526$3,605,318$2,812,920$6,615,758
69$8,772,330$3,737,730$2,862,903$7,160,665
70$9,621,465$3,875,235$2,913,168$7,757,236
71$10,555,773$4,018,041$2,963,678$8,410,620
72$11,583,898$4,166,361$3,014,397$9,126,486
73$12,715,362$4,320,419$3,065,286$9,911,077
74$13,960,658$4,480,448$3,116,302$10,771,269
75$15,331,346$4,646,691$3,167,399$11,714,636
76$16,840,165$4,819,401$3,218,528$12,749,519
77$18,501,152$4,998,841$3,269,639$13,885,104
78$20,329,773$5,185,288$3,320,676$15,131,511
79$22,343,071$5,379,029$3,371,579$16,499,886
80$24,559,825$5,580,361$3,422,288$18,002,508
81$27,000,726$5,789,599$3,472,734$19,652,900
82$29,688,578$6,007,067$3,522,848$21,465,963
83$32,648,505$6,233,105$3,572,555$23,458,108
84$35,908,192$6,468,066$3,621,776$25,647,417
85$39,498,148$6,712,322$3,670,425$28,053,807
86$43,451,990$6,966,257$3,718,416$30,699,225
87$47,806,762$7,230,273$3,765,652$33,607,843
88$52,603,285$7,504,789$3,812,035$36,806,298
89$57,886,541$7,790,245$3,857,459$40,323,933
90$63,706,097$8,087,096$3,901,813$44,193,077
91$70,116,575$8,395,819$3,944,979$48,449,350
92$77,178,164$8,716,912$3,986,834$53,131,996
93$84,957,190$9,050,895$4,027,246$58,284,254
94$93,526,742$9,398,308$4,066,078$63,953,764
95$102,967,363$9,759,718$4,103,184$70,193,018
96$113,367,805$10,135,715$4,138,412$77,059,851
97$124,825,871$10,526,915$4,171,599$84,617,987
98$137,449,339$10,933,963$4,202,577$92,937,643
99$151,356,975$11,357,530$4,231,166$102,096,183
100$166,679,655$11,798,318$4,257,179$112,178,856