Can I retire at age 54 with 2,930,000?

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 $2,930,000?

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 years$241,957$239,801$237,699$235,646$233,642$225,173
2 years$119,781$117,550$115,388$113,292$111,258$102,819
3 years$79,060$76,820$74,664$72,587$70,587$62,442
4 years$58,704$56,471$54,336$52,295$50,343$42,556
5 years$46,494$44,274$42,167$40,167$38,270$30,860
6 years$38,356$36,153$34,077$32,122$30,282$23,255
7 years$32,546$30,361$28,318$26,409$24,627$17,981
8 years$28,190$26,025$24,016$22,154$20,431$14,160
9 years$24,804$22,660$20,685$18,870$17,206$11,302
10 years$22,097$19,973$18,034$16,267$14,660$9,113
11 years$19,884$17,781$15,877$14,157$12,608$7,406
12 years$18,040$15,959$14,090$12,417$10,926$6,056
13 years$16,482$14,423$12,589$10,963$9,528$4,977
14 years$15,147$13,110$11,311$9,731$8,352$4,106
15 years$13,991$11,976$10,212$8,679$7,354$3,398
16 years$12,981$10,988$9,259$7,771$6,499$2,820
17 years$12,091$10,119$8,425$6,982$5,763$2,345
18 years$11,300$9,351$7,691$6,292$5,124$1,954
19 years$10,593$8,666$7,041$5,686$4,567$1,630
20 years$9,958$8,053$6,462$5,149$4,079$1,361
21 years$9,384$7,501$5,944$4,673$3,651$1,138
22 years$8,863$7,002$5,478$4,249$3,272$952
23 years$8,388$6,549$5,058$3,870$2,937$797
24 years$7,953$6,136$4,678$3,530$2,640$668
25 years$7,554$5,758$4,332$3,223$2,376$560
26 years$7,186$5,412$4,018$2,947$2,140$470
27 years$6,846$5,093$3,731$2,698$1,929$394
28 years$6,530$4,799$3,469$2,472$1,741$331
29 years$6,237$4,527$3,228$2,267$1,572$277
30 years$5,964$4,276$3,007$2,080$1,420$233
31 years$5,709$4,042$2,803$1,910$1,284$196
32 years$5,471$3,824$2,615$1,756$1,162$164
33 years$5,247$3,622$2,442$1,615$1,051$138
34 years$5,037$3,433$2,282$1,486$952$116
35 years$4,840$3,256$2,133$1,368$862$97
36 years$4,654$3,090$1,995$1,259$781$82
37 years$4,478$2,935$1,868$1,160$708$69
38 years$4,312$2,789$1,749$1,070$642$58
39 years$4,155$2,652$1,639$986$582$48
40 years$4,006$2,524$1,536$910$528$41
41 years$3,865$2,402$1,440$839$479$34
42 years$3,730$2,288$1,351$775$435$29
43 years$3,603$2,180$1,268$715$394$24
44 years$3,481$2,078$1,190$660$358$20
45 years$3,366$1,981$1,117$610$325$17
46 years$3,255$1,890$1,049$563$295$14
47 years$3,150$1,804$986$520$268$12
48 years$3,049$1,722$926$481$243$10
49 years$2,953$1,644$871$444$221$9
50 years$2,861$1,571$819$411$201$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,930,000, adding $6,406 every year, while hoping to spend $35,946 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: 79/12/9 Blend
53$2,930,000$2,930,000$2,930,000$2,930,000
54$3,235,468$3,080,178$3,034,763$3,486,154
55$3,527,239$3,192,860$3,098,181$3,764,261
56$3,847,567$3,309,859$3,162,519$4,063,951
57$4,199,325$3,431,349$3,227,770$4,391,658
58$4,585,680$3,557,509$3,293,924$4,750,161
59$5,010,122$3,688,529$3,360,973$5,142,519
60$5,476,493$3,824,606$3,428,904$5,572,102
61$5,989,026$3,965,943$3,497,704$6,042,620
62$6,552,387$4,112,754$3,567,357$6,558,160
63$7,171,714$4,265,263$3,637,847$7,123,222
64$7,852,668$4,423,700$3,709,154$7,742,762
65$8,601,487$4,588,308$3,781,258$8,422,239
66$9,425,043$4,759,339$3,854,134$9,167,665
67$10,330,907$4,937,056$3,927,757$9,985,663
68$11,327,421$5,121,733$4,002,098$10,883,526
69$12,423,776$5,313,656$4,077,127$11,869,290
70$13,630,099$5,513,124$4,152,809$12,951,807
71$14,957,550$5,720,447$4,229,108$14,140,825
72$16,418,421$5,935,951$4,305,985$15,447,086
73$18,026,260$6,159,972$4,383,395$16,882,421
74$19,795,994$6,392,866$4,461,294$18,459,866
75$21,744,068$6,634,999$4,539,630$20,193,781
76$23,888,606$6,886,757$4,618,350$22,099,987
77$26,249,575$7,148,540$4,697,397$24,195,912
78$28,848,981$7,420,767$4,776,708$26,500,761
79$31,711,067$7,703,874$4,856,218$29,035,689
80$34,862,549$7,998,318$4,935,855$31,824,005
81$38,332,867$8,304,573$5,015,544$34,891,393
82$42,154,459$8,623,137$5,095,204$38,266,146
83$46,363,070$8,954,527$5,174,750$41,979,442
84$50,998,088$9,299,284$5,254,089$46,065,630
85$56,102,917$9,657,972$5,333,125$50,562,560
86$61,725,383$10,031,182$5,411,753$55,511,934
87$67,918,190$10,419,528$5,489,865$60,959,700
88$74,739,413$10,823,652$5,567,343$66,956,489
89$82,253,048$11,244,226$5,644,064$73,558,087
90$90,529,616$11,681,950$5,719,897$80,825,965
91$99,646,826$12,137,555$5,794,703$88,827,855
92$109,690,312$12,611,805$5,868,336$97,638,390
93$120,754,439$13,105,498$5,940,640$107,339,809
94$132,943,192$13,619,468$6,011,451$118,022,728
95$146,371,158$14,154,583$6,080,596$129,787,001
96$161,164,612$14,711,753$6,147,891$142,742,655
97$177,462,702$15,291,928$6,213,145$157,010,932
98$195,418,765$15,896,100$6,276,152$172,725,431
99$215,201,774$16,525,304$6,336,699$190,033,369
100$236,997,935$17,180,624$6,394,558$209,096,965