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%12.5%
1 years$239,479$237,346$235,265$233,234$231,250$228,835
2 years$118,554$116,346$114,206$112,132$110,119$107,687
3 years$78,251$76,033$73,899$71,844$69,864$67,491
4 years$58,103$55,893$53,780$51,759$49,828$47,531
5 years$46,018$43,821$41,735$39,756$37,878$35,665
6 years$37,964$35,783$33,728$31,793$29,972$27,845
7 years$32,213$30,050$28,028$26,139$24,375$22,335
8 years$27,902$25,759$23,770$21,927$20,221$18,268
9 years$24,550$22,428$20,473$18,677$17,029$15,163
10 years$21,871$19,769$17,849$16,100$14,510$12,728
11 years$19,680$17,599$15,714$14,012$12,479$10,781
12 years$17,855$15,796$13,946$12,290$10,814$9,198
13 years$16,313$14,275$12,460$10,850$9,430$7,894
14 years$14,992$12,975$11,195$9,632$8,266$6,808
15 years$13,848$11,853$10,108$8,590$7,278$5,896
16 years$12,848$10,875$9,164$7,691$6,433$5,123
17 years$11,967$10,016$8,339$6,911$5,704$4,465
18 years$11,184$9,255$7,612$6,228$5,071$3,901
19 years$10,485$8,577$6,969$5,627$4,520$3,416
20 years$9,856$7,970$6,396$5,097$4,038$2,997
21 years$9,288$7,424$5,883$4,626$3,613$2,633
22 years$8,772$6,930$5,422$4,206$3,239$2,317
23 years$8,302$6,482$5,006$3,830$2,907$2,041
24 years$7,872$6,073$4,630$3,493$2,613$1,800
25 years$7,477$5,699$4,288$3,190$2,351$1,589
26 years$7,112$5,356$3,977$2,917$2,118$1,404
27 years$6,776$5,041$3,693$2,670$1,910$1,241
28 years$6,463$4,750$3,433$2,446$1,723$1,098
29 years$6,173$4,481$3,195$2,243$1,556$972
30 years$5,903$4,232$2,976$2,059$1,406$860
31 years$5,651$4,001$2,774$1,891$1,271$762
32 years$5,415$3,785$2,588$1,738$1,150$676
33 years$5,193$3,585$2,417$1,598$1,040$599
34 years$4,986$3,398$2,258$1,470$942$531
35 years$4,790$3,223$2,111$1,354$853$471
36 years$4,606$3,059$1,975$1,247$773$418
37 years$4,432$2,905$1,849$1,149$701$371
38 years$4,268$2,761$1,731$1,059$635$329
39 years$4,112$2,625$1,622$976$576$292
40 years$3,965$2,498$1,520$900$522$260
41 years$3,825$2,378$1,425$831$474$230
42 years$3,692$2,264$1,337$767$430$205
43 years$3,566$2,157$1,255$708$390$182
44 years$3,446$2,056$1,178$653$354$161
45 years$3,331$1,961$1,106$603$322$143
46 years$3,222$1,871$1,039$557$292$127
47 years$3,118$1,785$976$515$265$113
48 years$3,018$1,704$917$476$241$101
49 years$2,923$1,628$862$440$219$89
50 years$2,831$1,555$810$406$199$79

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 $4,995 every year, while hoping to spend $24,633 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: 89/6/5 Blend
53$2,900,000$2,900,000$2,900,000$2,900,000
54$3,200,952$3,047,252$3,002,302$3,485,877
55$3,501,240$3,170,358$3,076,670$3,794,976
56$3,831,332$3,298,671$3,152,704$4,130,807
57$4,194,241$3,432,419$3,230,433$4,499,257
58$4,593,289$3,571,843$3,309,887$4,903,600
59$5,032,133$3,717,192$3,391,097$5,347,441
60$5,514,805$3,868,729$3,474,094$5,834,752
61$6,045,745$4,026,727$3,558,906$6,369,906
62$6,629,847$4,191,472$3,645,565$6,957,724
63$7,272,502$4,363,265$3,734,102$7,603,512
64$7,979,649$4,542,417$3,824,546$8,313,118
65$8,757,833$4,729,255$3,916,929$9,092,984
66$9,614,267$4,924,124$4,011,281$9,950,205
67$10,556,896$5,127,379$4,107,632$10,892,599
68$11,594,475$5,339,396$4,206,013$11,928,778
69$12,736,652$5,560,567$4,306,455$13,068,231
70$13,994,056$5,791,300$4,408,987$14,321,410
71$15,378,400$6,032,025$4,513,639$15,699,832
72$16,902,592$6,283,189$4,620,440$17,216,185
73$18,580,853$6,545,262$4,729,421$18,884,450
74$20,428,853$6,818,733$4,840,610$20,720,027
75$22,463,861$7,104,116$4,954,036$22,739,887
76$24,704,905$7,401,947$5,069,726$24,962,728
77$27,172,951$7,712,789$5,187,708$27,409,151
78$29,891,105$8,037,229$5,308,009$30,101,855
79$32,884,826$8,375,881$5,430,656$33,065,850
80$36,182,169$8,729,390$5,555,673$36,328,694
81$39,814,048$9,098,427$5,683,086$39,920,750
82$43,814,529$9,483,699$5,812,918$43,875,476
83$48,221,152$9,885,941$5,945,191$48,229,739
84$53,075,283$10,305,926$6,079,929$53,024,157
85$58,422,506$10,744,460$6,217,151$58,303,493
86$64,313,053$11,202,390$6,356,876$64,117,065
87$70,802,276$11,680,599$6,499,123$70,519,220
88$77,951,172$12,180,012$6,643,908$77,569,842
89$85,826,958$12,701,600$6,791,246$85,334,917
90$94,503,705$13,246,375$6,941,150$93,887,157
91$104,063,035$13,815,400$7,093,630$103,306,685
92$114,594,896$14,409,785$7,248,698$113,681,787
93$126,198,405$15,030,695$7,406,359$125,109,752
94$138,982,790$15,679,346$7,566,620$137,697,784
95$153,068,414$16,357,014$7,729,481$151,564,015
96$168,587,918$17,065,032$7,894,944$166,838,619
97$185,687,466$17,804,800$8,063,005$183,665,041
98$204,528,131$18,577,779$8,233,660$202,201,348
99$225,287,411$19,385,501$8,406,898$222,621,724
100$248,160,906$20,229,569$8,582,708$245,118,109