Can I retire at age 54 with 2,950,000?

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$243,608$241,438$239,321$237,255$235,237$228,531
2 years$120,598$118,352$116,175$114,065$112,018$105,314
3 years$79,600$77,344$75,173$73,082$71,069$64,577
4 years$59,105$56,856$54,707$52,652$50,687$44,457
5 years$46,811$44,576$42,455$40,442$38,531$32,580
6 years$38,618$36,400$34,310$32,341$30,488$24,822
7 years$32,768$30,568$28,512$26,590$24,795$19,413
8 years$28,383$26,203$24,180$22,305$20,570$15,469
9 years$24,974$22,814$20,826$18,999$17,323$12,499
10 years$22,248$20,110$18,157$16,378$14,760$10,205
11 years$20,019$17,902$15,985$14,253$12,694$8,402
12 years$18,163$16,068$14,186$12,502$11,000$6,962
13 years$16,594$14,521$12,674$11,038$9,593$5,800
14 years$15,250$13,199$11,388$9,798$8,409$4,852
15 years$14,087$12,058$10,282$8,738$7,404$4,073
16 years$13,070$11,063$9,322$7,824$6,544$3,429
17 years$12,173$10,188$8,483$7,030$5,802$2,894
18 years$11,377$9,414$7,744$6,335$5,159$2,447
19 years$10,666$8,725$7,089$5,724$4,598$2,072
20 years$10,026$8,108$6,506$5,185$4,107$1,757
21 years$9,448$7,552$5,984$4,705$3,675$1,492
22 years$8,924$7,050$5,515$4,278$3,295$1,268
23 years$8,445$6,593$5,092$3,896$2,957$1,079
24 years$8,008$6,178$4,710$3,554$2,658$919
25 years$7,606$5,797$4,362$3,245$2,392$782
26 years$7,235$5,449$4,046$2,967$2,155$667
27 years$6,892$5,128$3,757$2,716$1,943$568
28 years$6,575$4,832$3,492$2,489$1,753$485
29 years$6,280$4,558$3,250$2,282$1,583$414
30 years$6,005$4,305$3,027$2,094$1,430$353
31 years$5,748$4,070$2,822$1,923$1,293$301
32 years$5,508$3,851$2,633$1,768$1,170$257
33 years$5,283$3,647$2,459$1,626$1,058$220
34 years$5,072$3,456$2,297$1,496$958$188
35 years$4,873$3,278$2,148$1,377$868$160
36 years$4,685$3,111$2,009$1,268$786$137
37 years$4,508$2,955$1,880$1,168$713$117
38 years$4,341$2,808$1,761$1,077$646$100
39 years$4,183$2,671$1,650$993$586$85
40 years$4,033$2,541$1,546$916$531$73
41 years$3,891$2,419$1,450$845$482$62
42 years$3,756$2,303$1,360$780$438$53
43 years$3,627$2,195$1,276$720$397$45
44 years$3,505$2,092$1,198$665$360$39
45 years$3,388$1,995$1,125$614$327$33
46 years$3,277$1,903$1,057$567$297$28
47 years$3,171$1,816$993$524$270$24
48 years$3,070$1,734$933$484$245$21
49 years$2,973$1,656$877$447$223$18
50 years$2,880$1,581$824$414$202$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,950,000, adding $4,005 every year, while hoping to spend $29,447 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: 75/20/5 Blend
53$2,950,000$2,950,000$2,950,000$2,950,000
54$3,255,031$3,098,681$3,052,956$3,497,785
55$3,555,713$3,219,185$3,123,899$3,778,366
56$3,886,077$3,344,607$3,196,231$4,081,550
57$4,249,121$3,475,156$3,269,968$4,412,895
58$4,648,145$3,611,053$3,345,126$4,775,175
59$5,086,786$3,752,524$3,421,718$5,171,446
60$5,569,051$3,899,811$3,499,759$5,605,070
61$6,099,355$4,053,163$3,579,261$6,079,749
62$6,682,561$4,212,839$3,660,238$6,599,558
63$7,324,028$4,379,114$3,742,702$7,168,984
64$8,029,659$4,552,271$3,826,663$7,792,967
65$8,805,961$4,732,609$3,912,132$8,476,946
66$9,660,099$4,920,437$3,999,119$9,226,911
67$10,599,971$5,116,080$4,087,631$10,049,457
68$11,634,278$5,319,878$4,177,677$10,951,848
69$12,772,608$5,532,185$4,269,262$11,942,082
70$14,025,523$5,753,372$4,362,392$13,028,968
71$15,404,664$5,983,825$4,457,070$14,222,208
72$16,922,857$6,223,949$4,553,299$15,532,487
73$18,594,233$6,474,168$4,651,079$16,971,576
74$20,434,365$6,734,922$4,750,410$18,552,435
75$22,460,411$7,006,674$4,851,290$20,289,345
76$24,691,278$7,289,906$4,953,714$22,198,034
77$27,147,802$7,585,125$5,057,676$24,295,826
78$29,852,937$7,892,856$5,163,168$26,601,806
79$32,831,983$8,213,652$5,270,180$29,136,997
80$36,112,814$8,548,089$5,378,700$31,924,559
81$39,726,146$8,896,771$5,488,712$34,990,005
82$43,705,828$9,260,328$5,600,199$38,361,442
83$48,089,157$9,639,419$5,713,140$42,069,834
84$52,917,234$10,034,733$5,827,513$46,149,293
85$58,235,349$10,446,992$5,943,292$50,637,403
86$64,093,409$10,876,949$6,060,446$55,575,569
87$70,546,410$11,325,392$6,178,944$61,009,408
88$77,654,954$11,793,147$6,298,750$66,989,180
89$85,485,823$12,281,075$6,419,822$73,570,259
90$94,112,609$12,790,079$6,542,117$80,813,655
91$103,616,403$13,321,102$6,665,587$88,786,587
92$114,086,571$13,875,130$6,790,178$97,563,119
93$125,621,587$14,453,197$6,915,835$107,224,855
94$138,329,967$15,056,382$7,042,493$117,861,707
95$152,331,293$15,685,814$7,170,087$129,572,742
96$167,757,343$16,342,677$7,298,542$142,467,120
97$184,753,330$17,028,206$7,427,781$156,665,115
98$203,479,276$17,743,695$7,557,719$172,299,254
99$224,111,524$18,490,498$7,688,264$189,515,561
100$246,844,398$19,270,031$7,819,320$208,474,940