Can I retire at age 54 with 2,910,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$240,305$238,165$236,076$234,038$232,047$229,529
2 years$118,963$116,747$114,600$112,518$110,499$107,963
3 years$78,521$76,296$74,154$72,091$70,105$67,630
4 years$58,304$56,085$53,965$51,938$49,999$47,605
5 years$46,177$43,972$41,879$39,893$38,009$35,702
6 years$38,095$35,906$33,845$31,903$30,075$27,859
7 years$32,324$30,154$28,125$26,229$24,459$22,334
8 years$27,998$25,847$23,852$22,003$20,291$18,257
9 years$24,635$22,505$20,544$18,742$17,088$15,144
10 years$21,946$19,837$17,911$16,156$14,560$12,705
11 years$19,748$17,660$15,768$14,060$12,522$10,755
12 years$17,917$15,850$13,994$12,333$10,851$9,170
13 years$16,369$14,324$12,503$10,888$9,463$7,865
14 years$15,044$13,020$11,234$9,665$8,295$6,778
15 years$13,896$11,894$10,142$8,620$7,303$5,866
16 years$12,892$10,913$9,196$7,718$6,455$5,094
17 years$12,008$10,050$8,368$6,934$5,723$4,436
18 years$11,223$9,287$7,639$6,249$5,089$3,874
19 years$10,521$8,607$6,993$5,647$4,536$3,389
20 years$9,890$7,998$6,418$5,114$4,051$2,971
21 years$9,320$7,450$5,903$4,641$3,626$2,609
22 years$8,803$6,954$5,441$4,220$3,250$2,294
23 years$8,331$6,504$5,023$3,843$2,917$2,019
24 years$7,899$6,094$4,646$3,505$2,622$1,779
25 years$7,502$5,719$4,303$3,201$2,359$1,569
26 years$7,137$5,375$3,991$2,927$2,125$1,385
27 years$6,799$5,058$3,706$2,679$1,916$1,224
28 years$6,486$4,766$3,445$2,455$1,729$1,082
29 years$6,195$4,497$3,206$2,251$1,561$957
30 years$5,924$4,246$2,986$2,066$1,411$846
31 years$5,670$4,014$2,784$1,897$1,275$749
32 years$5,433$3,798$2,597$1,744$1,154$663
33 years$5,211$3,597$2,425$1,604$1,044$588
34 years$5,003$3,409$2,266$1,475$945$521
35 years$4,807$3,234$2,119$1,358$856$462
36 years$4,622$3,069$1,982$1,251$776$409
37 years$4,447$2,915$1,855$1,152$703$363
38 years$4,282$2,770$1,737$1,062$637$322
39 years$4,126$2,634$1,627$979$578$285
40 years$3,978$2,506$1,525$903$524$253
41 years$3,838$2,386$1,430$834$476$225
42 years$3,705$2,272$1,342$769$432$199
43 years$3,578$2,165$1,259$710$392$177
44 years$3,457$2,064$1,182$656$356$157
45 years$3,343$1,968$1,110$606$323$139
46 years$3,233$1,877$1,042$559$293$124
47 years$3,128$1,791$979$517$266$110
48 years$3,028$1,710$920$477$242$97
49 years$2,933$1,633$865$441$219$87
50 years$2,841$1,560$813$408$199$77

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,910,000, adding $6,126 every year, while hoping to spend $23,146 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: 63/21/16 Blend
53$2,910,000$2,910,000$2,910,000$2,910,000
54$3,213,139$3,058,909$3,013,804$3,402,459
55$3,516,252$3,184,168$3,090,139$3,655,587
56$3,849,507$3,314,790$3,168,256$3,928,706
57$4,215,953$3,451,011$3,248,189$4,226,406
58$4,618,952$3,593,082$3,329,975$4,551,078
59$5,062,205$3,741,263$3,413,650$4,905,359
60$5,549,792$3,895,827$3,499,249$5,292,144
61$6,086,207$4,057,059$3,586,810$5,714,625
62$6,676,402$4,225,256$3,676,369$6,176,310
63$7,325,832$4,400,731$3,767,965$6,681,062
64$8,040,511$4,583,811$3,861,636$7,233,134
65$8,827,061$4,774,836$3,957,418$7,837,206
66$9,692,781$4,974,163$4,055,352$8,498,430
67$10,645,714$5,182,166$4,155,475$9,222,477
68$11,694,720$5,399,235$4,257,827$10,015,593
69$12,849,564$5,625,780$4,362,447$10,884,654
70$14,121,004$5,862,228$4,469,374$11,837,228
71$15,520,896$6,109,027$4,578,648$12,881,653
72$17,062,303$6,366,645$4,690,308$14,027,106
73$18,759,620$6,635,572$4,804,394$15,283,697
74$20,628,706$6,916,320$4,920,947$16,662,557
75$22,687,041$7,209,427$5,040,006$18,175,944
76$24,953,884$7,515,453$5,161,610$19,837,361
77$27,450,457$7,834,987$5,285,801$21,661,677
78$30,200,145$8,168,643$5,412,617$23,665,270
79$33,228,719$8,517,066$5,542,098$25,866,179
80$36,564,573$8,880,928$5,674,284$28,284,273
81$40,239,001$9,260,934$5,809,214$30,941,440
82$44,286,483$9,657,824$5,946,927$33,861,786
83$48,745,016$10,072,369$6,087,460$37,071,869
84$53,656,470$10,505,377$6,230,853$40,600,942
85$59,066,986$10,957,697$6,377,142$44,481,231
86$65,027,408$11,430,213$6,526,365$48,748,237
87$71,593,763$11,923,853$6,678,559$53,441,067
88$78,827,794$12,439,589$6,833,758$58,602,808
89$86,797,538$12,978,437$6,991,997$64,280,924
90$95,577,968$13,541,462$7,153,310$70,527,707
91$105,251,705$14,129,779$7,317,731$77,400,768
92$115,909,795$14,744,553$7,485,290$84,963,579
93$127,652,565$15,387,008$7,656,019$93,286,068
94$140,590,577$16,058,422$7,829,946$102,445,280
95$154,845,666$16,760,134$8,007,099$112,526,100
96$170,552,092$17,493,549$8,187,505$123,622,054
97$187,857,807$18,260,134$8,371,187$135,836,185
98$206,925,850$19,061,428$8,558,170$149,282,030
99$227,935,891$19,899,042$8,748,472$164,084,682
100$251,085,919$20,774,662$8,942,113$180,381,974