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

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
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%13.4%
1 years$233,699$231,617$229,586$227,604$225,668$222,480
2 years$115,692$113,538$111,450$109,425$107,461$104,255
3 years$76,362$74,198$72,115$70,110$68,178$65,053
4 years$56,701$54,544$52,481$50,510$48,625$45,607
5 years$44,907$42,763$40,728$38,797$36,964$34,060
6 years$37,047$34,919$32,914$31,026$29,248$26,463
7 years$31,435$29,325$27,352$25,508$23,787$21,121
8 years$27,228$25,137$23,196$21,398$19,733$17,186
9 years$23,958$21,886$19,979$18,226$16,618$14,189
10 years$21,343$19,292$17,418$15,711$14,160$11,846
11 years$19,205$17,174$15,335$13,674$12,178$9,978
12 years$17,424$15,415$13,609$11,994$10,553$8,464
13 years$15,919$13,930$12,159$10,589$9,202$7,222
14 years$14,630$12,662$10,925$9,399$8,067$6,191
15 years$13,514$11,567$9,864$8,383$7,103$5,329
16 years$12,538$10,613$8,943$7,506$6,277$4,602
17 years$11,678$9,774$8,138$6,744$5,566$3,985
18 years$10,914$9,032$7,429$6,077$4,949$3,460
19 years$10,232$8,370$6,801$5,492$4,411$3,010
20 years$9,618$7,778$6,241$4,974$3,940$2,623
21 years$9,064$7,245$5,741$4,514$3,526$2,289
22 years$8,561$6,763$5,291$4,104$3,160$2,000
23 years$8,102$6,325$4,885$3,738$2,837$1,750
24 years$7,682$5,926$4,518$3,409$2,550$1,533
25 years$7,296$5,562$4,185$3,113$2,295$1,343
26 years$6,941$5,227$3,881$2,847$2,067$1,178
27 years$6,612$4,919$3,604$2,606$1,863$1,034
28 years$6,307$4,635$3,350$2,387$1,681$908
29 years$6,024$4,373$3,118$2,189$1,518$798
30 years$5,761$4,130$2,904$2,009$1,372$702
31 years$5,514$3,904$2,707$1,845$1,240$617
32 years$5,284$3,694$2,526$1,696$1,122$543
33 years$5,068$3,498$2,359$1,559$1,015$478
34 years$4,865$3,316$2,204$1,435$919$420
35 years$4,674$3,145$2,060$1,321$833$370
36 years$4,495$2,985$1,927$1,216$754$326
37 years$4,325$2,835$1,804$1,121$684$287
38 years$4,165$2,694$1,689$1,033$620$253
39 years$4,013$2,562$1,583$953$562$223
40 years$3,869$2,437$1,483$879$510$196
41 years$3,733$2,320$1,391$811$463$173
42 years$3,603$2,210$1,305$748$420$152
43 years$3,480$2,105$1,224$691$381$134
44 years$3,362$2,007$1,149$638$346$118
45 years$3,251$1,914$1,079$589$314$104
46 years$3,144$1,826$1,014$544$285$92
47 years$3,042$1,742$952$503$259$81
48 years$2,945$1,663$895$464$235$71
49 years$2,852$1,588$841$429$213$63
50 years$2,763$1,517$791$397$194$56

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 $3,977 every year, while hoping to spend $52,681 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: 66/23/11 Blend
53$2,830,000$2,830,000$2,830,000$2,830,000
54$3,122,762$2,972,772$2,928,907$3,321,124
55$3,385,232$3,062,386$2,970,973$3,543,376
56$3,672,708$3,154,625$3,012,683$3,779,604
57$3,987,685$3,249,563$3,053,969$4,036,442
58$4,332,911$3,347,273$3,094,759$4,315,899
59$4,711,412$3,447,834$3,134,978$4,620,184
60$5,126,522$3,551,324$3,174,546$4,951,733
61$5,581,911$3,657,823$3,213,377$5,313,226
62$6,081,623$3,767,413$3,251,382$5,707,613
63$6,630,112$3,880,179$3,288,467$6,138,144
64$7,232,284$3,996,209$3,324,531$6,608,396
65$7,893,543$4,115,589$3,359,469$7,122,310
66$8,619,843$4,238,412$3,393,170$7,684,225
67$9,417,742$4,364,769$3,425,516$8,298,921
68$10,294,465$4,494,756$3,456,384$8,971,661
69$11,257,972$4,628,470$3,485,644$9,708,244
70$12,317,030$4,766,011$3,513,158$10,515,055
71$13,481,301$4,907,479$3,538,783$11,399,129
72$14,761,428$5,052,979$3,562,366$12,368,215
73$16,169,135$5,202,617$3,583,747$13,430,849
74$17,717,344$5,356,502$3,602,760$14,596,435
75$19,420,287$5,514,745$3,619,226$15,875,332
76$21,293,647$5,677,458$3,632,961$17,278,954
77$23,354,703$5,844,757$3,643,769$18,819,873
78$25,622,493$6,016,761$3,651,446$20,511,942
79$28,117,995$6,193,590$3,655,777$22,370,422
80$30,864,321$6,375,367$3,656,536$24,412,130
81$33,886,939$6,562,217$3,653,487$26,655,590
82$37,213,909$6,754,268$3,646,381$29,121,216
83$40,876,151$6,951,650$3,634,958$31,831,497
84$44,907,734$7,154,496$3,618,945$34,811,215
85$49,346,199$7,362,942$3,598,055$38,087,672
86$54,232,909$7,577,125$3,571,988$41,690,956
87$59,613,446$7,797,184$3,540,430$45,654,214
88$65,538,035$8,023,263$3,503,052$50,013,974
89$72,062,018$8,255,507$3,459,508$54,810,485
90$79,246,379$8,494,062$3,409,437$60,088,096
91$87,158,318$8,739,078$3,352,460$65,895,674
92$95,871,881$8,990,708$3,288,182$72,287,070
93$105,468,665$9,249,105$3,216,189$79,321,620
94$116,038,584$9,514,426$3,136,046$87,064,708
95$127,680,716$9,786,830$3,047,300$95,588,384
96$140,504,240$10,066,476$2,949,476$104,972,042
97$154,629,467$10,353,528$2,842,078$115,303,167
98$170,188,972$10,648,150$2,724,587$126,678,167
99$187,328,846$10,950,508$2,596,460$139,203,275
100$206,210,076$11,260,771$2,457,129$152,995,557