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%13.2%
1 years$233,699$231,617$229,586$227,604$225,668$222,664
2 years$115,692$113,538$111,450$109,425$107,461$104,439
3 years$76,362$74,198$72,115$70,110$68,178$65,232
4 years$56,701$54,544$52,481$50,510$48,625$45,778
5 years$44,907$42,763$40,728$38,797$36,964$34,224
6 years$37,047$34,919$32,914$31,026$29,248$26,619
7 years$31,435$29,325$27,352$25,508$23,787$21,269
8 years$27,228$25,137$23,196$21,398$19,733$17,327
9 years$23,958$21,886$19,979$18,226$16,618$14,322
10 years$21,343$19,292$17,418$15,711$14,160$11,972
11 years$19,205$17,174$15,335$13,674$12,178$10,096
12 years$17,424$15,415$13,609$11,994$10,553$8,575
13 years$15,919$13,930$12,159$10,589$9,202$7,326
14 years$14,630$12,662$10,925$9,399$8,067$6,289
15 years$13,514$11,567$9,864$8,383$7,103$5,420
16 years$12,538$10,613$8,943$7,506$6,277$4,688
17 years$11,678$9,774$8,138$6,744$5,566$4,065
18 years$10,914$9,032$7,429$6,077$4,949$3,534
19 years$10,232$8,370$6,801$5,492$4,411$3,079
20 years$9,618$7,778$6,241$4,974$3,940$2,687
21 years$9,064$7,245$5,741$4,514$3,526$2,349
22 years$8,561$6,763$5,291$4,104$3,160$2,056
23 years$8,102$6,325$4,885$3,738$2,837$1,801
24 years$7,682$5,926$4,518$3,409$2,550$1,580
25 years$7,296$5,562$4,185$3,113$2,295$1,387
26 years$6,941$5,227$3,881$2,847$2,067$1,219
27 years$6,612$4,919$3,604$2,606$1,863$1,071
28 years$6,307$4,635$3,350$2,387$1,681$942
29 years$6,024$4,373$3,118$2,189$1,518$829
30 years$5,761$4,130$2,904$2,009$1,372$730
31 years$5,514$3,904$2,707$1,845$1,240$643
32 years$5,284$3,694$2,526$1,696$1,122$567
33 years$5,068$3,498$2,359$1,559$1,015$500
34 years$4,865$3,316$2,204$1,435$919$440
35 years$4,674$3,145$2,060$1,321$833$388
36 years$4,495$2,985$1,927$1,216$754$343
37 years$4,325$2,835$1,804$1,121$684$302
38 years$4,165$2,694$1,689$1,033$620$267
39 years$4,013$2,562$1,583$953$562$235
40 years$3,869$2,437$1,483$879$510$208
41 years$3,733$2,320$1,391$811$463$183
42 years$3,603$2,210$1,305$748$420$162
43 years$3,480$2,105$1,224$691$381$143
44 years$3,362$2,007$1,149$638$346$126
45 years$3,251$1,914$1,079$589$314$111
46 years$3,144$1,826$1,014$544$285$98
47 years$3,042$1,742$952$503$259$87
48 years$2,945$1,663$895$464$235$77
49 years$2,852$1,588$841$429$213$68
50 years$2,763$1,517$791$397$194$60

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 $4,729 every year, while hoping to spend $49,845 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: 33/43/24 Blend
53$2,830,000$2,830,000$2,830,000$2,830,000
54$3,123,538$2,973,548$2,929,683$3,203,556
55$3,389,104$3,066,217$2,974,793$3,356,757
56$3,680,087$3,161,756$3,019,743$3,516,925
57$3,999,028$3,260,254$3,064,476$3,688,544
58$4,348,723$3,361,800$3,108,930$3,872,656
59$4,732,253$3,466,489$3,153,039$4,070,409
60$5,153,012$3,574,416$3,196,735$4,283,062
61$5,614,738$3,685,681$3,239,945$4,512,001
62$6,121,547$3,800,386$3,282,589$4,758,751
63$6,677,975$3,918,635$3,324,586$5,024,988
64$7,289,018$4,040,538$3,365,849$5,312,556
65$7,960,179$4,166,205$3,406,286$5,623,484
66$8,697,521$4,295,752$3,445,800$5,960,004
67$9,507,721$4,429,297$3,484,287$6,324,573
68$10,398,138$4,566,962$3,521,640$6,719,896
69$11,376,877$4,708,872$3,557,744$7,148,948
70$12,452,869$4,855,157$3,592,479$7,615,005
71$13,635,951$5,005,950$3,625,717$8,121,675
72$14,936,964$5,161,388$3,657,325$8,672,927
73$16,367,850$5,321,612$3,687,161$9,273,133
74$17,941,767$5,486,767$3,715,077$9,927,108
75$19,673,212$5,657,003$3,740,916$10,640,152
76$21,578,158$5,832,474$3,764,515$11,418,102
77$23,674,204$6,013,339$3,785,700$12,267,389
78$25,980,742$6,199,762$3,804,290$13,195,093
79$28,519,137$6,391,910$3,820,094$14,209,012
80$31,312,932$6,589,956$3,832,910$15,317,736
81$34,388,066$6,794,079$3,842,527$16,530,726
82$37,773,122$7,004,463$3,848,726$17,858,406
83$41,499,595$7,221,296$3,851,272$19,312,255
84$45,602,187$7,444,772$3,849,923$20,904,923
85$50,119,136$7,675,092$3,844,422$22,650,340
86$55,092,579$7,912,463$3,834,500$24,563,858
87$60,568,943$8,157,094$3,819,877$26,662,386
88$66,599,389$8,409,206$3,800,257$28,964,554
89$73,240,292$8,669,022$3,775,331$31,490,889
90$80,553,771$8,936,774$3,744,774$34,264,006
91$88,608,279$9,212,700$3,708,248$37,308,820
92$97,479,245$9,497,043$3,665,395$40,652,785
93$107,249,786$9,790,056$3,615,844$44,326,150
94$118,011,494$10,091,998$3,559,204$48,362,241
95$129,865,296$10,403,136$3,495,067$52,797,782
96$142,922,409$10,723,743$3,423,005$57,673,237
97$157,305,390$11,054,101$3,342,571$63,033,190
98$173,149,289$11,394,502$3,253,296$68,926,769
99$190,602,927$11,745,242$3,154,692$75,408,107
100$209,830,296$12,106,630$3,046,245$82,536,855