Can I retire at age 54 with 2,920,000?

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$241,131$238,983$236,887$234,842$232,845$227,032
2 years$119,372$117,149$114,994$112,905$110,879$105,059
3 years$78,791$76,558$74,409$72,339$70,346$64,701
4 years$58,504$56,278$54,150$52,116$50,171$44,745
5 years$46,335$44,123$42,023$40,030$38,139$32,947
6 years$38,225$36,030$33,961$32,013$30,178$25,225
7 years$32,435$30,258$28,222$26,319$24,543$19,830
8 years$28,094$25,936$23,934$22,079$20,361$15,885
9 years$24,720$22,582$20,614$18,806$17,147$12,904
10 years$22,022$19,905$17,972$16,211$14,610$10,596
11 years$19,816$17,720$15,822$14,108$12,565$8,774
12 years$17,979$15,905$14,042$12,375$10,889$7,314
13 years$16,425$14,373$12,546$10,925$9,495$6,129
14 years$15,095$13,065$11,272$9,698$8,323$5,159
15 years$13,944$11,935$10,177$8,649$7,329$4,359
16 years$12,937$10,950$9,227$7,744$6,477$3,693
17 years$12,049$10,085$8,396$6,958$5,743$3,137
18 years$11,261$9,319$7,665$6,271$5,106$2,670
19 years$10,557$8,637$7,017$5,666$4,551$2,277
20 years$9,924$8,025$6,440$5,132$4,065$1,944
21 years$9,352$7,475$5,923$4,657$3,638$1,662
22 years$8,833$6,978$5,459$4,235$3,261$1,423
23 years$8,360$6,526$5,041$3,857$2,927$1,219
24 years$7,926$6,115$4,662$3,517$2,631$1,045
25 years$7,528$5,738$4,318$3,212$2,368$897
26 years$7,161$5,393$4,004$2,937$2,133$770
27 years$6,822$5,076$3,718$2,688$1,923$661
28 years$6,508$4,783$3,457$2,463$1,735$568
29 years$6,216$4,512$3,217$2,259$1,567$488
30 years$5,944$4,261$2,996$2,073$1,416$420
31 years$5,690$4,028$2,793$1,904$1,280$361
32 years$5,452$3,811$2,606$1,750$1,158$310
33 years$5,229$3,609$2,434$1,609$1,048$267
34 years$5,020$3,421$2,274$1,480$949$230
35 years$4,823$3,245$2,126$1,363$859$198
36 years$4,638$3,080$1,989$1,255$778$170
37 years$4,463$2,925$1,861$1,156$706$147
38 years$4,297$2,780$1,743$1,066$640$126
39 years$4,140$2,643$1,633$983$580$109
40 years$3,992$2,515$1,531$907$526$93
41 years$3,851$2,394$1,435$836$477$80
42 years$3,718$2,280$1,346$772$433$69
43 years$3,590$2,172$1,263$713$393$60
44 years$3,469$2,071$1,186$658$357$51
45 years$3,354$1,975$1,113$608$324$44
46 years$3,244$1,884$1,046$561$294$38
47 years$3,139$1,798$983$519$267$33
48 years$3,039$1,716$923$479$243$28
49 years$2,943$1,639$868$443$220$24
50 years$2,851$1,565$816$409$200$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,920,000, adding $3,872 every year, while hoping to spend $32,337 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: 78/9/13 Blend
53$2,920,000$2,920,000$2,920,000$2,920,000
54$3,221,834$3,067,074$3,021,814$3,464,565
55$3,516,055$3,182,954$3,088,638$3,740,776
56$3,839,202$3,303,429$3,156,618$4,039,143
57$4,194,193$3,428,689$3,225,756$4,365,493
58$4,584,239$3,558,933$3,296,058$4,722,605
59$5,012,881$3,694,370$3,367,525$5,113,542
60$5,484,017$3,835,217$3,440,160$5,541,676
61$6,001,944$3,981,699$3,513,962$6,010,722
62$6,571,393$4,134,054$3,588,931$6,524,769
63$7,197,580$4,292,527$3,665,065$7,088,324
64$7,886,249$4,457,377$3,742,360$7,706,347
65$8,643,729$4,628,871$3,820,812$8,384,305
66$9,476,995$4,807,291$3,900,414$9,128,217
67$10,393,729$4,992,929$3,981,159$9,944,714
68$11,402,397$5,186,091$4,063,036$10,841,101
69$12,512,328$5,387,095$4,146,034$11,825,424
70$13,733,799$5,596,276$4,230,139$12,906,548
71$15,078,133$5,813,981$4,315,336$14,094,237
72$16,557,810$6,040,573$4,401,607$15,399,249
73$18,186,578$6,276,432$4,488,932$16,833,434
74$19,979,586$6,521,954$4,577,288$18,409,850
75$21,953,527$6,777,553$4,666,650$20,142,881
76$24,126,794$7,043,661$4,756,991$22,048,374
77$26,519,656$7,320,730$4,848,279$24,143,789
78$29,154,446$7,609,230$4,940,481$26,448,363
79$32,055,773$7,909,656$5,033,561$28,983,292
80$35,250,753$8,222,521$5,127,477$31,771,926
81$38,769,268$8,548,363$5,222,185$34,839,997
82$42,644,245$8,887,743$5,317,640$38,215,851
83$46,911,965$9,241,250$5,413,788$41,930,726
84$51,612,409$9,609,495$5,510,574$46,019,038
85$56,789,635$9,993,121$5,607,938$50,518,709
86$62,492,190$10,392,795$5,705,816$55,471,524
87$68,773,571$10,809,220$5,804,138$60,923,523
88$75,692,729$11,243,125$5,902,830$66,925,437
89$83,314,624$11,695,276$6,001,813$73,533,166
90$91,710,843$12,166,471$6,101,000$80,808,306
91$100,960,266$12,657,545$6,200,301$88,818,728
92$111,149,821$13,169,372$6,299,618$97,639,219
93$122,375,295$13,702,865$6,398,848$107,352,189
94$134,742,246$14,258,976$6,497,881$118,048,445
95$148,366,994$14,838,704$6,596,598$129,828,049
96$163,377,718$15,443,092$6,694,875$142,801,262
97$179,915,671$16,073,229$6,792,579$157,089,584
98$198,136,508$16,730,255$6,889,569$172,826,900
99$218,211,757$17,415,364$6,985,695$190,160,741
100$240,330,440$18,129,800$7,080,800$209,253,678