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%13.9%
1 years$238,653$236,528$234,454$232,429$230,453$226,728
2 years$118,145$115,945$113,812$111,745$109,739$105,997
3 years$77,981$75,771$73,644$71,596$69,623$65,980
4 years$57,903$55,700$53,594$51,581$49,656$46,140
5 years$45,859$43,669$41,591$39,619$37,748$34,368
6 years$37,833$35,659$33,612$31,684$29,868$26,630
7 years$32,102$29,947$27,932$26,049$24,291$21,195
8 years$27,805$25,670$23,688$21,852$20,152$17,197
9 years$24,466$22,350$20,403$18,613$16,971$14,155
10 years$21,795$19,701$17,788$16,044$14,460$11,782
11 years$19,612$17,538$15,660$13,964$12,436$9,893
12 years$17,794$15,741$13,898$12,248$10,777$8,365
13 years$16,257$14,226$12,417$10,813$9,398$7,114
14 years$14,940$12,931$11,156$9,599$8,238$6,078
15 years$13,800$11,812$10,073$8,560$7,253$5,214
16 years$12,804$10,838$9,132$7,665$6,410$4,487
17 years$11,925$9,981$8,310$6,887$5,684$3,872
18 years$11,146$9,223$7,586$6,206$5,054$3,349
19 years$10,449$8,548$6,945$5,608$4,505$2,903
20 years$9,822$7,943$6,374$5,079$4,024$2,520
21 years$9,256$7,399$5,862$4,610$3,601$2,191
22 years$8,742$6,906$5,403$4,191$3,228$1,908
23 years$8,274$6,459$4,989$3,817$2,897$1,663
24 years$7,845$6,052$4,614$3,481$2,604$1,450
25 years$7,451$5,679$4,273$3,179$2,343$1,266
26 years$7,088$5,338$3,963$2,907$2,111$1,106
27 years$6,752$5,024$3,680$2,661$1,903$967
28 years$6,441$4,734$3,421$2,438$1,717$846
29 years$6,152$4,466$3,184$2,236$1,551$740
30 years$5,883$4,217$2,966$2,052$1,401$648
31 years$5,631$3,987$2,765$1,884$1,267$568
32 years$5,396$3,772$2,580$1,732$1,146$497
33 years$5,176$3,572$2,409$1,593$1,037$436
34 years$4,968$3,386$2,250$1,465$939$382
35 years$4,774$3,211$2,104$1,349$850$335
36 years$4,590$3,048$1,968$1,242$770$294
37 years$4,417$2,895$1,842$1,145$698$257
38 years$4,253$2,751$1,725$1,055$633$226
39 years$4,098$2,616$1,616$973$574$198
40 years$3,951$2,489$1,515$897$521$174
41 years$3,812$2,369$1,421$828$472$152
42 years$3,679$2,257$1,332$764$429$134
43 years$3,554$2,150$1,250$705$389$117
44 years$3,434$2,049$1,174$651$353$103
45 years$3,320$1,954$1,102$601$321$90
46 years$3,211$1,864$1,035$555$291$79
47 years$3,107$1,779$972$513$264$70
48 years$3,007$1,698$914$474$240$61
49 years$2,913$1,622$859$438$218$54
50 years$2,822$1,549$808$405$198$47

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 $4,742 every year, while hoping to spend $23,516 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: 64/6/30 Blend
53$2,890,000$2,890,000$2,890,000$2,890,000
54$3,189,671$3,036,501$2,991,706$3,367,925
55$3,489,997$3,160,269$3,066,908$3,613,186
56$3,820,168$3,289,313$3,143,840$3,878,085
57$4,183,203$3,423,868$3,222,537$4,167,059
58$4,582,429$3,564,177$3,303,031$4,482,479
59$5,021,511$3,710,496$3,385,357$4,826,957
60$5,504,487$3,863,092$3,469,549$5,203,368
61$6,035,807$4,022,245$3,555,640$5,614,879
62$6,620,372$4,188,248$3,643,667$6,064,976
63$7,263,583$4,361,405$3,733,663$6,557,499
64$7,971,391$4,542,037$3,825,664$7,096,675
65$8,750,354$4,730,478$3,919,705$7,687,161
66$9,607,697$4,927,078$4,015,821$8,334,087
67$10,551,380$5,132,203$4,114,049$9,043,100
68$11,590,175$5,346,235$4,214,424$9,820,424
69$12,733,748$5,569,575$4,316,982$10,672,910
70$13,992,748$5,802,642$4,421,759$11,608,108
71$15,378,911$6,045,875$4,528,791$12,634,334
72$16,905,169$6,299,731$4,638,114$13,760,748
73$18,585,769$6,564,691$4,749,764$14,997,440
74$20,436,413$6,841,257$4,863,777$16,355,526
75$22,474,402$7,129,953$4,980,188$17,847,255
76$24,718,801$7,431,331$5,099,034$19,486,115
77$27,190,616$7,745,964$5,220,349$21,286,972
78$29,912,997$8,074,454$5,344,169$23,266,201
79$32,911,453$8,417,432$5,470,529$25,441,843
80$36,214,092$8,775,558$5,599,462$27,833,774
81$39,851,889$9,149,519$5,731,004$30,463,895
82$43,858,976$9,540,040$5,865,187$33,356,334
83$48,272,965$9,947,875$6,002,044$36,537,677
84$53,135,302$10,373,816$6,141,608$40,037,214
85$58,491,661$10,818,691$6,283,909$43,887,219
86$64,392,370$11,283,366$6,428,979$48,123,253
87$70,892,889$11,768,749$6,576,848$52,784,497
88$78,054,336$12,275,789$6,727,544$57,914,125
89$85,944,056$12,805,481$6,881,095$63,559,706
90$94,636,266$13,358,866$7,037,528$69,773,657
91$104,212,747$13,937,032$7,196,867$76,613,733
92$114,763,622$14,541,122$7,359,137$84,143,576
93$126,388,204$15,172,329$7,524,360$92,433,311
94$139,195,932$15,831,904$7,692,557$101,560,209
95$153,307,406$16,521,157$7,863,747$111,609,415
96$168,855,525$17,241,457$8,037,946$122,674,752
97$185,986,742$17,994,242$8,215,171$134,859,605
98$204,862,443$18,781,013$8,395,432$148,277,896
99$225,660,475$19,603,345$8,578,742$163,055,159
100$248,576,821$20,462,887$8,765,108$179,329,723