Can I retire at age 54 with 2,890,000?

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 $2,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$238,653$236,528$234,454$232,429$230,453$222,542
2 years$118,145$115,945$113,812$111,745$109,739$101,850
3 years$77,981$75,771$73,644$71,596$69,623$62,003
4 years$57,903$55,700$53,594$51,581$49,656$42,363
5 years$45,859$43,669$41,591$39,619$37,748$30,801
6 years$37,833$35,659$33,612$31,684$29,868$23,274
7 years$32,102$29,947$27,932$26,049$24,291$18,048
8 years$27,805$25,670$23,688$21,852$20,152$14,255
9 years$24,466$22,350$20,403$18,613$16,971$11,412
10 years$21,795$19,701$17,788$16,044$14,460$9,231
11 years$19,612$17,538$15,660$13,964$12,436$7,527
12 years$17,794$15,741$13,898$12,248$10,777$6,175
13 years$16,257$14,226$12,417$10,813$9,398$5,092
14 years$14,940$12,931$11,156$9,599$8,238$4,216
15 years$13,800$11,812$10,073$8,560$7,253$3,502
16 years$12,804$10,838$9,132$7,665$6,410$2,916
17 years$11,925$9,981$8,310$6,887$5,684$2,434
18 years$11,146$9,223$7,586$6,206$5,054$2,035
19 years$10,449$8,548$6,945$5,608$4,505$1,704
20 years$9,822$7,943$6,374$5,079$4,024$1,429
21 years$9,256$7,399$5,862$4,610$3,601$1,199
22 years$8,742$6,906$5,403$4,191$3,228$1,008
23 years$8,274$6,459$4,989$3,817$2,897$847
24 years$7,845$6,052$4,614$3,481$2,604$713
25 years$7,451$5,679$4,273$3,179$2,343$600
26 years$7,088$5,338$3,963$2,907$2,111$505
27 years$6,752$5,024$3,680$2,661$1,903$425
28 years$6,441$4,734$3,421$2,438$1,717$358
29 years$6,152$4,466$3,184$2,236$1,551$302
30 years$5,883$4,217$2,966$2,052$1,401$255
31 years$5,631$3,987$2,765$1,884$1,267$215
32 years$5,396$3,772$2,580$1,732$1,146$181
33 years$5,176$3,572$2,409$1,593$1,037$153
34 years$4,968$3,386$2,250$1,465$939$129
35 years$4,774$3,211$2,104$1,349$850$109
36 years$4,590$3,048$1,968$1,242$770$92
37 years$4,417$2,895$1,842$1,145$698$77
38 years$4,253$2,751$1,725$1,055$633$65
39 years$4,098$2,616$1,616$973$574$55
40 years$3,951$2,489$1,515$897$521$46
41 years$3,812$2,369$1,421$828$472$39
42 years$3,679$2,257$1,332$764$429$33
43 years$3,554$2,150$1,250$705$389$28
44 years$3,434$2,049$1,174$651$353$24
45 years$3,320$1,954$1,102$601$321$20
46 years$3,211$1,864$1,035$555$291$17
47 years$3,107$1,779$972$513$264$14
48 years$3,007$1,698$914$474$240$12
49 years$2,913$1,622$859$438$218$10
50 years$2,822$1,549$808$405$198$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,890,000, adding $4,562 every year, while hoping to spend $37,512 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: 42/31/27 Blend
53$2,890,000$2,890,000$2,890,000$2,890,000
54$3,189,486$3,036,316$2,991,521$3,298,054
55$3,474,901$3,145,183$3,051,824$3,485,378
56$3,788,171$3,258,127$3,112,891$3,684,225
57$4,132,098$3,375,309$3,174,706$3,898,851
58$4,509,768$3,496,894$3,237,254$4,130,734
59$4,924,580$3,623,058$3,300,518$4,381,499
60$5,380,279$3,753,981$3,364,478$4,652,932
61$5,880,992$3,889,850$3,429,113$4,947,000
62$6,431,264$4,030,863$3,494,398$5,265,863
63$7,036,101$4,177,223$3,560,308$5,611,897
64$7,701,020$4,329,144$3,626,815$5,987,718
65$8,432,098$4,486,847$3,693,888$6,396,202
66$9,236,033$4,650,562$3,761,494$6,840,513
67$10,120,200$4,820,532$3,829,596$7,324,136
68$11,092,728$4,997,006$3,898,155$7,850,902
69$12,162,572$5,180,245$3,967,129$8,425,029
70$13,339,600$5,370,522$4,036,474$9,051,161
71$14,634,683$5,568,121$4,106,139$9,734,409
72$16,059,799$5,773,338$4,176,073$10,480,397
73$17,628,147$5,986,480$4,246,220$11,295,320
74$19,354,269$6,207,868$4,316,519$12,185,995
75$21,254,189$6,437,838$4,386,907$13,159,932
76$23,345,563$6,676,740$4,457,316$14,225,396
77$25,647,846$6,924,935$4,527,671$15,391,489
78$28,182,474$7,182,805$4,597,896$16,668,236
79$30,973,069$7,450,745$4,667,908$18,066,675
80$34,045,658$7,729,167$4,737,619$19,598,962
81$37,428,921$8,018,503$4,806,935$21,278,486
82$41,154,461$8,319,199$4,875,757$23,119,992
83$45,257,101$8,631,725$4,943,981$25,139,720
84$49,775,215$8,956,569$5,011,493$27,355,560
85$54,751,086$9,294,240$5,078,177$29,787,214
86$60,231,307$9,645,269$5,143,907$32,456,387
87$66,267,223$10,010,209$5,208,551$35,386,984
88$72,915,411$10,389,641$5,271,968$38,605,342
89$80,238,215$10,784,165$5,334,011$42,140,472
90$88,304,337$11,194,413$5,394,524$46,024,332
91$97,189,480$11,621,040$5,453,341$50,292,129
92$106,977,067$12,064,731$5,510,289$54,982,648
93$117,759,028$12,526,203$5,565,184$60,138,621
94$129,636,664$13,006,202$5,617,832$65,807,122
95$142,721,604$13,505,506$5,668,030$72,040,014
96$157,136,861$14,024,929$5,715,562$78,894,438
97$173,017,990$14,565,320$5,760,203$86,433,348
98$190,514,370$15,127,565$5,801,714$94,726,102
99$209,790,609$15,712,590$5,839,845$103,849,121
100$231,028,103$16,321,359$5,874,332$113,886,602