Can I retire at age 54 with 2,900,000?

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 $2,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$239,479$237,346$235,265$233,234$231,250$228,455
2 years$118,554$116,346$114,206$112,132$110,119$107,306
3 years$78,251$76,033$73,899$71,844$69,864$67,121
4 years$58,103$55,893$53,780$51,759$49,828$47,175
5 years$46,018$43,821$41,735$39,756$37,878$35,324
6 years$37,964$35,783$33,728$31,793$29,972$27,519
7 years$32,213$30,050$28,028$26,139$24,375$22,025
8 years$27,902$25,759$23,770$21,927$20,221$17,973
9 years$24,550$22,428$20,473$18,677$17,029$14,883
10 years$21,871$19,769$17,849$16,100$14,510$12,463
11 years$19,680$17,599$15,714$14,012$12,479$10,530
12 years$17,855$15,796$13,946$12,290$10,814$8,961
13 years$16,313$14,275$12,460$10,850$9,430$7,671
14 years$14,992$12,975$11,195$9,632$8,266$6,598
15 years$13,848$11,853$10,108$8,590$7,278$5,698
16 years$12,848$10,875$9,164$7,691$6,433$4,938
17 years$11,967$10,016$8,339$6,911$5,704$4,292
18 years$11,184$9,255$7,612$6,228$5,071$3,739
19 years$10,485$8,577$6,969$5,627$4,520$3,265
20 years$9,856$7,970$6,396$5,097$4,038$2,855
21 years$9,288$7,424$5,883$4,626$3,613$2,501
22 years$8,772$6,930$5,422$4,206$3,239$2,194
23 years$8,302$6,482$5,006$3,830$2,907$1,927
24 years$7,872$6,073$4,630$3,493$2,613$1,694
25 years$7,477$5,699$4,288$3,190$2,351$1,491
26 years$7,112$5,356$3,977$2,917$2,118$1,313
27 years$6,776$5,041$3,693$2,670$1,910$1,157
28 years$6,463$4,750$3,433$2,446$1,723$1,020
29 years$6,173$4,481$3,195$2,243$1,556$900
30 years$5,903$4,232$2,976$2,059$1,406$795
31 years$5,651$4,001$2,774$1,891$1,271$702
32 years$5,415$3,785$2,588$1,738$1,150$620
33 years$5,193$3,585$2,417$1,598$1,040$548
34 years$4,986$3,398$2,258$1,470$942$484
35 years$4,790$3,223$2,111$1,354$853$428
36 years$4,606$3,059$1,975$1,247$773$378
37 years$4,432$2,905$1,849$1,149$701$335
38 years$4,268$2,761$1,731$1,059$635$296
39 years$4,112$2,625$1,622$976$576$262
40 years$3,965$2,498$1,520$900$522$232
41 years$3,825$2,378$1,425$831$474$205
42 years$3,692$2,264$1,337$767$430$182
43 years$3,566$2,157$1,255$708$390$161
44 years$3,446$2,056$1,178$653$354$142
45 years$3,331$1,961$1,106$603$322$126
46 years$3,222$1,871$1,039$557$292$111
47 years$3,118$1,785$976$515$265$99
48 years$3,018$1,704$917$476$241$87
49 years$2,923$1,628$862$440$219$77
50 years$2,831$1,555$810$406$199$69

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,900,000, adding $6,500 every year, while hoping to spend $41,096 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: 69/12/19 Blend
53$2,900,000$2,900,000$2,900,000$2,900,000
54$3,202,505$3,048,805$3,003,855$3,408,202
55$3,485,434$3,154,470$3,060,758$3,651,978
56$3,795,846$3,263,936$3,118,190$3,913,179
57$4,136,498$3,377,345$3,176,126$4,197,974
58$4,510,431$3,494,846$3,234,536$4,508,688
59$4,920,994$3,616,592$3,293,392$4,847,879
60$5,371,875$3,742,745$3,352,661$5,218,367
61$5,867,137$3,873,470$3,412,306$5,623,256
62$6,411,258$4,008,942$3,472,290$6,065,963
63$7,009,167$4,149,341$3,532,573$6,550,253
64$7,666,297$4,294,855$3,593,110$7,080,273
65$8,388,634$4,445,677$3,653,853$7,660,587
66$9,182,772$4,602,012$3,714,754$8,296,227
67$10,055,973$4,764,070$3,775,758$8,992,731
68$11,016,244$4,932,070$3,836,806$9,756,202
69$12,072,400$5,106,241$3,897,839$10,593,361
70$13,234,158$5,286,820$3,958,789$11,511,614
71$14,512,222$5,474,054$4,019,589$12,519,118
72$15,918,386$5,668,200$4,080,163$13,624,858
73$17,465,646$5,869,526$4,140,432$14,838,733
74$19,168,318$6,078,310$4,200,314$16,171,651
75$21,042,181$6,294,841$4,259,718$17,635,625
76$23,104,616$6,519,421$4,318,551$19,243,895
77$25,374,778$6,752,364$4,376,714$21,011,042
78$27,873,771$6,993,996$4,434,100$22,953,137
79$30,624,851$7,244,656$4,490,597$25,087,883
80$33,653,642$7,504,700$4,546,088$27,434,785
81$36,988,378$7,774,496$4,600,447$30,015,335
82$40,660,173$8,054,426$4,653,542$32,853,213
83$44,703,308$8,344,891$4,705,234$35,974,509
84$49,155,561$8,646,306$4,755,374$39,407,972
85$54,058,558$8,959,105$4,803,809$43,185,279
86$59,458,168$9,283,738$4,850,374$47,341,332
87$65,404,936$9,620,676$4,894,897$51,914,589
88$71,954,559$9,970,408$4,937,195$56,947,429
89$79,168,410$10,333,444$4,977,077$62,486,544
90$87,114,120$10,710,315$5,014,341$68,583,388
91$95,866,215$11,101,575$5,048,776$75,294,656
92$105,506,816$11,507,800$5,080,157$82,682,821
93$116,126,419$11,929,590$5,108,251$90,816,726
94$127,824,747$12,367,572$5,132,810$99,772,225
95$140,711,686$12,822,399$5,153,574$109,632,909
96$154,908,331$13,294,750$5,170,272$120,490,886
97$170,548,122$13,785,333$5,182,617$132,447,654
98$187,778,104$14,294,888$5,190,308$145,615,060
99$206,760,318$14,824,185$5,193,031$160,116,350
100$227,673,326$15,374,026$5,190,453$176,087,337