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

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$241,131$238,983$236,887$234,842$232,845$224,316
2 years$119,372$117,149$114,994$112,905$110,879$102,381
3 years$78,791$76,558$74,409$72,339$70,346$62,146
4 years$58,504$56,278$54,150$52,116$50,171$42,333
5 years$46,335$44,123$42,023$40,030$38,139$30,682
6 years$38,225$36,030$33,961$32,013$30,178$23,108
7 years$32,435$30,258$28,222$26,319$24,543$17,857
8 years$28,094$25,936$23,934$22,079$20,361$14,054
9 years$24,720$22,582$20,614$18,806$17,147$11,211
10 years$22,022$19,905$17,972$16,211$14,610$9,034
11 years$19,816$17,720$15,822$14,108$12,565$7,337
12 years$17,979$15,905$14,042$12,375$10,889$5,996
13 years$16,425$14,373$12,546$10,925$9,495$4,924
14 years$15,095$13,065$11,272$9,698$8,323$4,059
15 years$13,944$11,935$10,177$8,649$7,329$3,357
16 years$12,937$10,950$9,227$7,744$6,477$2,784
17 years$12,049$10,085$8,396$6,958$5,743$2,313
18 years$11,261$9,319$7,665$6,271$5,106$1,926
19 years$10,557$8,637$7,017$5,666$4,551$1,605
20 years$9,924$8,025$6,440$5,132$4,065$1,340
21 years$9,352$7,475$5,923$4,657$3,638$1,119
22 years$8,833$6,978$5,459$4,235$3,261$936
23 years$8,360$6,526$5,041$3,857$2,927$783
24 years$7,926$6,115$4,662$3,517$2,631$656
25 years$7,528$5,738$4,318$3,212$2,368$549
26 years$7,161$5,393$4,004$2,937$2,133$460
27 years$6,822$5,076$3,718$2,688$1,923$386
28 years$6,508$4,783$3,457$2,463$1,735$323
29 years$6,216$4,512$3,217$2,259$1,567$271
30 years$5,944$4,261$2,996$2,073$1,416$227
31 years$5,690$4,028$2,793$1,904$1,280$191
32 years$5,452$3,811$2,606$1,750$1,158$160
33 years$5,229$3,609$2,434$1,609$1,048$134
34 years$5,020$3,421$2,274$1,480$949$113
35 years$4,823$3,245$2,126$1,363$859$95
36 years$4,638$3,080$1,989$1,255$778$79
37 years$4,463$2,925$1,861$1,156$706$67
38 years$4,297$2,780$1,743$1,066$640$56
39 years$4,140$2,643$1,633$983$580$47
40 years$3,992$2,515$1,531$907$526$39
41 years$3,851$2,394$1,435$836$477$33
42 years$3,718$2,280$1,346$772$433$28
43 years$3,590$2,172$1,263$713$393$23
44 years$3,469$2,071$1,186$658$357$20
45 years$3,354$1,975$1,113$608$324$16
46 years$3,244$1,884$1,046$561$294$14
47 years$3,139$1,798$983$519$267$12
48 years$3,039$1,716$923$479$243$10
49 years$2,943$1,639$868$443$220$8
50 years$2,851$1,565$816$409$200$7

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 $4,024 every year, while hoping to spend $40,116 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: 56/17/27 Blend
53$2,920,000$2,920,000$2,920,000$2,920,000
54$3,221,991$3,067,231$3,021,971$3,378,291
55$3,507,951$3,174,842$3,080,524$3,593,781
56$3,821,734$3,286,382$3,139,694$3,823,925
57$4,166,136$3,402,000$3,199,459$4,073,861
58$4,544,237$3,521,853$3,259,796$4,345,511
59$4,959,429$3,646,103$3,320,678$4,640,990
60$5,415,448$3,774,919$3,382,078$4,962,627
61$5,916,411$3,908,477$3,443,965$5,312,985
62$6,466,852$4,046,960$3,506,305$5,694,886
63$7,071,768$4,190,559$3,569,064$6,111,436
64$7,736,663$4,339,470$3,632,201$6,566,058
65$8,467,599$4,493,901$3,695,677$7,062,518
66$9,271,257$4,654,065$3,759,445$7,604,964
67$10,154,997$4,820,186$3,823,458$8,197,966
68$11,126,928$4,992,496$3,887,666$8,846,554
69$12,195,984$5,171,238$3,952,012$9,556,270
70$13,372,008$5,356,662$4,016,437$10,333,217
71$14,665,845$5,549,031$4,080,881$11,184,117
72$16,089,446$5,748,618$4,145,274$12,116,375
73$17,655,976$5,955,706$4,209,547$13,138,147
74$19,379,942$6,170,593$4,273,624$14,258,417
75$21,277,329$6,393,585$4,337,423$15,487,082
76$23,365,749$6,625,003$4,400,860$16,835,044
77$25,664,609$6,865,182$4,463,842$18,314,315
78$28,195,293$7,114,470$4,526,275$19,938,126
79$30,981,363$7,373,229$4,588,055$21,721,054
80$34,048,782$7,641,837$4,649,075$23,679,159
81$37,426,158$7,920,688$4,709,219$25,830,133
82$41,145,016$8,210,190$4,768,367$28,193,470
83$45,240,090$8,510,772$4,826,390$30,790,648
84$49,749,658$8,822,879$4,883,153$33,645,328
85$54,715,897$9,146,974$4,938,512$36,783,583
86$60,185,283$9,483,540$4,992,317$40,234,139
87$66,209,029$9,833,081$5,044,408$44,028,645
88$72,843,571$10,196,123$5,094,616$48,201,975
89$80,151,094$10,573,212$5,142,765$52,792,554
90$88,200,126$10,964,919$5,188,667$57,842,722
91$97,066,177$11,371,839$5,232,126$63,399,129
92$106,832,460$11,794,591$5,272,935$69,513,180
93$117,590,668$12,233,823$5,310,875$76,241,516
94$129,441,843$12,690,208$5,345,717$83,646,549
95$142,497,332$13,164,449$5,377,219$91,797,050
96$156,879,832$13,657,279$5,405,128$100,768,798
97$172,724,551$14,169,462$5,429,176$110,645,297
98$190,180,486$14,701,796$5,449,084$121,518,559
99$209,411,824$15,255,113$5,464,557$133,489,973
100$230,599,496$15,830,279$5,475,285$146,671,264