Can I retire at age 54 with 2,830,000?

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 $2,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$233,699$231,617$229,586$227,604$225,668$221,112
2 years$115,692$113,538$111,450$109,425$107,461$102,891
3 years$76,362$74,198$72,115$70,110$68,178$63,736
4 years$56,701$54,544$52,481$50,510$48,625$44,346
5 years$44,907$42,763$40,728$38,797$36,964$32,859
6 years$37,047$34,919$32,914$31,026$29,248$25,323
7 years$31,435$29,325$27,352$25,508$23,787$20,042
8 years$27,228$25,137$23,196$21,398$19,733$16,167
9 years$23,958$21,886$19,979$18,226$16,618$13,229
10 years$21,343$19,292$17,418$15,711$14,160$10,944
11 years$19,205$17,174$15,335$13,674$12,178$9,131
12 years$17,424$15,415$13,609$11,994$10,553$7,671
13 years$15,919$13,930$12,159$10,589$9,202$6,481
14 years$14,630$12,662$10,925$9,399$8,067$5,500
15 years$13,514$11,567$9,864$8,383$7,103$4,685
16 years$12,538$10,613$8,943$7,506$6,277$4,004
17 years$11,678$9,774$8,138$6,744$5,566$3,431
18 years$10,914$9,032$7,429$6,077$4,949$2,946
19 years$10,232$8,370$6,801$5,492$4,411$2,535
20 years$9,618$7,778$6,241$4,974$3,940$2,184
21 years$9,064$7,245$5,741$4,514$3,526$1,885
22 years$8,561$6,763$5,291$4,104$3,160$1,628
23 years$8,102$6,325$4,885$3,738$2,837$1,408
24 years$7,682$5,926$4,518$3,409$2,550$1,219
25 years$7,296$5,562$4,185$3,113$2,295$1,056
26 years$6,941$5,227$3,881$2,847$2,067$915
27 years$6,612$4,919$3,604$2,606$1,863$793
28 years$6,307$4,635$3,350$2,387$1,681$688
29 years$6,024$4,373$3,118$2,189$1,518$597
30 years$5,761$4,130$2,904$2,009$1,372$519
31 years$5,514$3,904$2,707$1,845$1,240$451
32 years$5,284$3,694$2,526$1,696$1,122$391
33 years$5,068$3,498$2,359$1,559$1,015$340
34 years$4,865$3,316$2,204$1,435$919$296
35 years$4,674$3,145$2,060$1,321$833$257
36 years$4,495$2,985$1,927$1,216$754$223
37 years$4,325$2,835$1,804$1,121$684$194
38 years$4,165$2,694$1,689$1,033$620$169
39 years$4,013$2,562$1,583$953$562$147
40 years$3,869$2,437$1,483$879$510$128
41 years$3,733$2,320$1,391$811$463$111
42 years$3,603$2,210$1,305$748$420$97
43 years$3,480$2,105$1,224$691$381$84
44 years$3,362$2,007$1,149$638$346$73
45 years$3,251$1,914$1,079$589$314$64
46 years$3,144$1,826$1,014$544$285$55
47 years$3,042$1,742$952$503$259$48
48 years$2,945$1,663$895$464$235$42
49 years$2,852$1,588$841$429$213$37
50 years$2,763$1,517$791$397$194$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,830,000, adding $5,139 every year, while hoping to spend $47,121 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: 74/10/16 Blend
53$2,830,000$2,830,000$2,830,000$2,830,000
54$3,123,961$2,973,971$2,930,106$3,343,565
55$3,392,469$3,069,559$2,978,128$3,585,249
56$3,686,785$3,168,252$3,026,180$3,843,692
57$4,009,492$3,270,151$3,074,212$4,125,625
58$4,363,435$3,375,364$3,122,173$4,433,370
59$4,751,747$3,483,998$3,170,007$4,769,485
60$5,177,879$3,596,168$3,217,656$5,136,786
61$5,645,632$3,711,990$3,265,057$5,538,376
62$6,159,194$3,831,584$3,312,144$5,977,670
63$6,723,177$3,955,077$3,358,846$6,458,432
64$7,342,662$4,082,597$3,405,088$6,984,806
65$8,023,246$4,214,277$3,450,792$7,561,359
66$8,771,097$4,350,256$3,495,873$8,193,120
67$9,593,007$4,490,677$3,540,243$8,885,629
68$10,496,461$4,635,687$3,583,808$9,644,989
69$11,489,703$4,785,439$3,626,469$10,477,925
70$12,581,818$4,940,091$3,668,121$11,391,842
71$13,782,814$5,099,806$3,708,654$12,394,903
72$15,103,718$5,264,753$3,747,950$13,496,097
73$16,556,678$5,435,107$3,785,887$14,705,329
74$18,155,080$5,611,048$3,822,335$16,033,514
75$19,913,672$5,792,763$3,857,157$17,492,675
76$21,848,704$5,980,446$3,890,209$19,096,060
77$23,978,080$6,174,296$3,921,340$20,858,266
78$26,321,528$6,374,520$3,950,388$22,795,375
79$28,900,784$6,581,332$3,977,187$24,925,110
80$31,739,800$6,794,954$4,001,559$27,266,995
81$34,864,967$7,015,613$4,023,318$29,842,545
82$38,305,363$7,243,548$4,042,269$32,675,466
83$42,093,031$7,479,003$4,058,206$35,791,881
84$46,263,278$7,722,231$4,070,913$39,220,573
85$50,855,007$7,973,496$4,080,164$42,993,257
86$55,911,089$8,233,068$4,085,720$47,144,881
87$61,478,760$8,501,229$4,087,332$51,713,957
88$67,610,073$8,778,269$4,084,737$56,742,918
89$74,362,386$9,064,489$4,077,661$62,278,524
90$81,798,900$9,360,200$4,065,814$68,372,303
91$89,989,264$9,665,725$4,048,894$75,081,033
92$99,010,220$9,981,397$4,026,584$82,467,281
93$108,946,339$10,307,562$3,998,551$90,599,993
94$119,890,810$10,644,577$3,964,447$99,555,144
95$131,946,323$10,992,812$3,923,906$109,416,454
96$145,226,039$11,352,650$3,876,547$120,276,180
97$159,854,652$11,724,488$3,821,969$132,235,985
98$175,969,574$12,108,735$3,759,753$145,407,900
99$193,722,226$12,505,818$3,689,459$159,915,376
100$213,279,466$12,916,176$3,610,629$175,894,455