Can I retire at age 54 with 2,120,000?

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$175,068$173,508$171,987$170,502$169,052$165,436
2 years$86,667$85,053$83,489$81,972$80,501$76,875
3 years$57,204$55,583$54,023$52,520$51,073$47,551
4 years$42,476$40,859$39,315$37,838$36,426$33,035
5 years$33,641$32,034$30,510$29,063$27,690$24,440
6 years$27,753$26,158$24,656$23,242$21,910$18,804
7 years$23,549$21,968$20,490$19,109$17,819$14,857
8 years$20,397$18,830$17,377$16,030$14,783$11,964
9 years$17,947$16,395$14,967$13,654$12,449$9,772
10 years$15,988$14,452$13,048$11,770$10,607$8,069
11 years$14,387$12,865$11,488$10,243$9,123$6,720
12 years$13,053$11,547$10,195$8,985$7,905$5,634
13 years$11,925$10,435$9,108$7,932$6,894$4,751
14 years$10,960$9,486$8,184$7,041$6,043$4,023
15 years$10,123$8,665$7,389$6,280$5,321$3,420
16 years$9,392$7,950$6,699$5,623$4,702$2,917
17 years$8,748$7,322$6,096$5,052$4,170$2,494
18 years$8,176$6,766$5,565$4,553$3,707$2,137
19 years$7,665$6,270$5,094$4,114$3,304$1,834
20 years$7,205$5,827$4,675$3,726$2,952$1,577
21 years$6,790$5,427$4,300$3,381$2,641$1,358
22 years$6,413$5,066$3,964$3,075$2,368$1,170
23 years$6,069$4,738$3,660$2,800$2,125$1,010
24 years$5,755$4,440$3,385$2,554$1,910$872
25 years$5,466$4,166$3,135$2,332$1,719$753
26 years$5,199$3,916$2,907$2,132$1,548$651
27 years$4,953$3,685$2,700$1,952$1,396$563
28 years$4,725$3,472$2,510$1,788$1,260$488
29 years$4,513$3,276$2,336$1,640$1,137$422
30 years$4,315$3,094$2,175$1,505$1,028$366
31 years$4,131$2,925$2,028$1,382$929$317
32 years$3,958$2,767$1,892$1,270$840$275
33 years$3,797$2,621$1,767$1,168$761$238
34 years$3,645$2,484$1,651$1,075$689$206
35 years$3,502$2,356$1,543$989$624$179
36 years$3,367$2,236$1,444$911$565$155
37 years$3,240$2,124$1,351$840$512$135
38 years$3,120$2,018$1,266$774$464$117
39 years$3,006$1,919$1,186$714$421$101
40 years$2,898$1,826$1,111$658$382$88
41 years$2,796$1,738$1,042$607$347$76
42 years$2,699$1,655$977$560$314$66
43 years$2,607$1,577$917$517$285$57
44 years$2,519$1,503$861$478$259$50
45 years$2,435$1,434$808$441$235$43
46 years$2,355$1,368$759$407$214$38
47 years$2,279$1,305$713$376$194$33
48 years$2,206$1,246$670$348$176$28
49 years$2,137$1,190$630$321$160$25
50 years$2,070$1,137$592$297$145$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,120,000, adding $4,577 every year, while hoping to spend $37,898 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: 36/40/24 Blend
53$2,120,000$2,120,000$2,120,000$2,120,000
54$2,340,961$2,228,601$2,195,741$2,408,155
55$2,539,416$2,297,479$2,228,975$2,526,930
56$2,756,843$2,368,463$2,262,053$2,651,258
57$2,995,138$2,441,614$2,294,928$2,784,727
58$3,256,387$2,516,998$2,327,553$2,928,180
59$3,542,889$2,594,682$2,359,877$3,082,545
60$3,857,177$2,674,734$2,391,846$3,248,841
61$4,202,038$2,757,226$2,423,402$3,428,191
62$4,580,546$2,842,230$2,454,486$3,621,829
63$4,996,084$2,929,821$2,485,033$3,831,113
64$5,452,378$3,020,076$2,514,976$4,057,536
65$5,953,535$3,113,074$2,544,242$4,302,745
66$6,504,078$3,208,897$2,572,757$4,568,548
67$7,108,990$3,307,629$2,600,440$4,856,938
68$7,773,760$3,409,356$2,627,208$5,170,109
69$8,504,436$3,514,167$2,652,971$5,510,473
70$9,307,680$3,622,152$2,677,637$5,880,691
71$10,190,832$3,733,406$2,701,107$6,283,689
72$11,161,980$3,848,026$2,723,277$6,722,691
73$12,230,032$3,966,110$2,744,037$7,201,244
74$13,404,806$4,087,760$2,763,273$7,723,259
75$14,697,117$4,213,081$2,780,864$8,293,040
76$16,118,882$4,342,181$2,796,682$8,915,329
77$17,683,231$4,475,171$2,810,594$9,595,347
78$19,404,631$4,612,165$2,822,458$10,338,848
79$21,299,021$4,753,279$2,832,129$11,152,168
80$23,383,965$4,898,633$2,839,449$12,042,285
81$25,678,816$5,048,352$2,844,257$13,016,891
82$28,204,896$5,202,563$2,846,380$14,084,454
83$30,985,702$5,361,395$2,845,641$15,254,307
84$34,047,124$5,524,983$2,841,850$16,536,730
85$37,417,688$5,693,465$2,834,809$17,943,049
86$41,128,829$5,866,981$2,824,312$19,485,744
87$45,215,184$6,045,678$2,810,141$21,178,563
88$49,714,921$6,229,704$2,792,069$23,036,654
89$54,670,096$6,419,213$2,769,856$25,076,707
90$60,127,053$6,614,362$2,743,254$27,317,111
91$66,136,859$6,815,312$2,711,999$29,778,130
92$72,755,786$7,022,229$2,675,818$32,482,088
93$80,045,841$7,235,284$2,634,424$35,453,587
94$88,075,355$7,454,651$2,587,515$38,719,732
95$96,919,622$7,680,509$2,534,777$42,310,393
96$106,661,612$7,913,043$2,475,880$46,258,480
97$117,392,754$8,152,440$2,410,481$50,600,260
98$129,213,801$8,398,896$2,338,218$55,375,695
99$142,235,775$8,652,607$2,258,714$60,628,820
100$156,581,018$8,913,779$2,171,575$66,408,159