Can I retire at age 54 with 2,800,000?

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 $2,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$231,221$229,162$227,152$225,191$223,276$221,590
2 years$114,466$112,334$110,268$108,265$106,322$104,622
3 years$75,553$73,412$71,351$69,366$67,455$65,794
4 years$56,100$53,965$51,925$49,975$48,109$46,500
5 years$44,431$42,309$40,296$38,385$36,572$35,019
6 years$36,655$34,549$32,565$30,697$28,938$27,444
7 years$31,102$29,014$27,062$25,238$23,535$22,099
8 years$26,940$24,870$22,951$21,171$19,524$18,148
9 years$23,704$21,654$19,767$18,033$16,442$15,124
10 years$21,117$19,087$17,234$15,545$14,010$12,750
11 years$19,001$16,992$15,172$13,529$12,049$10,846
12 years$17,240$15,251$13,465$11,866$10,441$9,294
13 years$15,750$13,783$12,030$10,476$9,105$8,013
14 years$14,475$12,528$10,809$9,300$7,981$6,942
15 years$13,370$11,445$9,759$8,294$7,027$6,040
16 years$12,405$10,500$8,848$7,426$6,211$5,274
17 years$11,554$9,670$8,051$6,672$5,507$4,619
18 years$10,799$8,936$7,350$6,013$4,896$4,056
19 years$10,123$8,282$6,728$5,433$4,364$3,570
20 years$9,516$7,696$6,175$4,921$3,898$3,147
21 years$8,968$7,168$5,680$4,466$3,489$2,780
22 years$8,470$6,691$5,235$4,061$3,127$2,459
23 years$8,016$6,258$4,833$3,698$2,807$2,178
24 years$7,601$5,864$4,470$3,373$2,523$1,931
25 years$7,219$5,503$4,140$3,080$2,270$1,714
26 years$6,867$5,172$3,840$2,816$2,045$1,522
27 years$6,542$4,867$3,566$2,578$1,844$1,353
28 years$6,241$4,586$3,315$2,362$1,664$1,204
29 years$5,961$4,327$3,085$2,166$1,502$1,072
30 years$5,700$4,086$2,873$1,988$1,357$954
31 years$5,456$3,863$2,679$1,826$1,227$850
32 years$5,228$3,655$2,499$1,678$1,110$758
33 years$5,014$3,461$2,334$1,543$1,005$676
34 years$4,814$3,280$2,180$1,420$910$603
35 years$4,625$3,111$2,038$1,307$824$538
36 years$4,447$2,953$1,907$1,204$746$480
37 years$4,279$2,805$1,785$1,109$677$429
38 years$4,120$2,666$1,671$1,022$613$383
39 years$3,970$2,535$1,566$942$556$342
40 years$3,828$2,412$1,468$869$504$305
41 years$3,693$2,296$1,376$802$458$273
42 years$3,565$2,186$1,291$740$415$244
43 years$3,443$2,083$1,211$683$377$218
44 years$3,327$1,986$1,137$631$342$195
45 years$3,216$1,893$1,068$583$311$174
46 years$3,111$1,806$1,003$538$282$155
47 years$3,010$1,724$942$497$256$139
48 years$2,914$1,646$885$459$233$124
49 years$2,822$1,571$832$425$211$111
50 years$2,734$1,501$782$392$192$99

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,800,000, adding $2,604 every year, while hoping to spend $31,839 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: 81/5/14 Blend
53$2,800,000$2,800,000$2,800,000$2,800,000
54$3,088,286$2,939,886$2,896,486$3,329,714
55$3,369,415$3,050,064$2,959,642$3,598,854
56$3,678,151$3,164,574$3,023,846$3,889,830
57$4,017,279$3,283,593$3,089,101$4,208,325
58$4,389,861$3,407,310$3,155,406$4,557,084
59$4,799,276$3,535,917$3,222,761$4,939,133
60$5,249,244$3,669,618$3,291,165$5,357,801
61$5,743,862$3,808,625$3,360,614$5,816,758
62$6,287,645$3,953,157$3,431,104$6,320,045
63$6,885,569$4,103,445$3,502,630$6,872,115
64$7,543,113$4,259,730$3,575,184$7,477,870
65$8,266,316$4,422,263$3,648,759$8,142,712
66$9,061,831$4,591,304$3,723,342$8,872,593
67$9,936,987$4,767,127$3,798,924$9,674,067
68$10,899,861$4,950,017$3,875,489$10,554,357
69$11,959,351$5,140,273$3,953,022$11,521,420
70$13,125,261$5,338,203$4,031,505$12,584,020
71$14,408,395$5,544,132$4,110,918$13,751,815
72$15,820,657$5,758,400$4,191,239$15,035,445
73$17,375,161$5,981,358$4,272,442$16,446,632
74$19,086,359$6,213,377$4,354,501$17,998,292
75$20,970,176$6,454,841$4,437,385$19,704,654
76$23,044,158$6,706,152$4,521,062$21,581,399
77$25,327,640$6,967,731$4,605,495$23,645,800
78$27,841,925$7,240,016$4,690,645$25,916,893
79$30,610,490$7,523,465$4,776,470$28,415,650
80$33,659,202$7,818,557$4,862,924$31,165,180
81$37,016,566$8,125,792$4,949,957$34,190,945
82$40,713,991$8,445,691$5,037,516$37,521,002
83$44,786,088$8,778,799$5,125,542$41,186,267
84$49,270,996$9,125,687$5,213,975$45,220,803
85$54,210,741$9,486,949$5,302,747$49,662,146
86$59,651,634$9,863,208$5,391,786$54,551,657
87$65,644,708$10,255,112$5,481,018$59,934,912
88$72,246,196$10,663,340$5,570,360$65,862,129
89$79,518,066$11,088,603$5,659,726$72,388,648
90$87,528,605$11,531,639$5,749,022$79,575,447
91$96,353,058$11,993,226$5,838,150$87,489,720
92$106,074,347$12,474,170$5,927,005$96,205,511
93$116,783,845$12,975,319$6,015,474$105,804,411
94$128,582,244$13,497,557$6,103,440$116,376,329
95$141,580,503$14,041,808$6,190,775$128,020,339
96$155,900,895$14,609,037$6,277,347$140,845,615
97$171,678,162$15,200,255$6,363,013$154,972,465
98$189,060,783$15,816,516$6,447,623$170,533,458
99$208,212,383$16,458,926$6,531,018$187,674,683
100$229,313,269$17,128,636$6,613,030$206,557,123