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

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$243,608$241,438$239,321$237,255$235,237$226,441
2 years$120,598$118,352$116,175$114,065$112,018$103,256
3 years$79,600$77,344$75,173$73,082$71,069$62,618
4 years$59,105$56,856$54,707$52,652$50,687$42,611
5 years$46,811$44,576$42,455$40,442$38,531$30,851
6 years$38,618$36,400$34,310$32,341$30,488$23,209
7 years$32,768$30,568$28,512$26,590$24,795$17,915
8 years$28,383$26,203$24,180$22,305$20,570$14,083
9 years$24,974$22,814$20,826$18,999$17,323$11,220
10 years$22,248$20,110$18,157$16,378$14,760$9,030
11 years$20,019$17,902$15,985$14,253$12,694$7,324
12 years$18,163$16,068$14,186$12,502$11,000$5,977
13 years$16,594$14,521$12,674$11,038$9,593$4,902
14 years$15,250$13,199$11,388$9,798$8,409$4,036
15 years$14,087$12,058$10,282$8,738$7,404$3,333
16 years$13,070$11,063$9,322$7,824$6,544$2,760
17 years$12,173$10,188$8,483$7,030$5,802$2,290
18 years$11,377$9,414$7,744$6,335$5,159$1,903
19 years$10,666$8,725$7,089$5,724$4,598$1,584
20 years$10,026$8,108$6,506$5,185$4,107$1,320
21 years$9,448$7,552$5,984$4,705$3,675$1,101
22 years$8,924$7,050$5,515$4,278$3,295$919
23 years$8,445$6,593$5,092$3,896$2,957$768
24 years$8,008$6,178$4,710$3,554$2,658$642
25 years$7,606$5,797$4,362$3,245$2,392$537
26 years$7,235$5,449$4,046$2,967$2,155$449
27 years$6,892$5,128$3,757$2,716$1,943$376
28 years$6,575$4,832$3,492$2,489$1,753$315
29 years$6,280$4,558$3,250$2,282$1,583$263
30 years$6,005$4,305$3,027$2,094$1,430$221
31 years$5,748$4,070$2,822$1,923$1,293$185
32 years$5,508$3,851$2,633$1,768$1,170$155
33 years$5,283$3,647$2,459$1,626$1,058$130
34 years$5,072$3,456$2,297$1,496$958$109
35 years$4,873$3,278$2,148$1,377$868$91
36 years$4,685$3,111$2,009$1,268$786$76
37 years$4,508$2,955$1,880$1,168$713$64
38 years$4,341$2,808$1,761$1,077$646$54
39 years$4,183$2,671$1,650$993$586$45
40 years$4,033$2,541$1,546$916$531$38
41 years$3,891$2,419$1,450$845$482$32
42 years$3,756$2,303$1,360$780$438$26
43 years$3,627$2,195$1,276$720$397$22
44 years$3,505$2,092$1,198$665$360$19
45 years$3,388$1,995$1,125$614$327$16
46 years$3,277$1,903$1,057$567$297$13
47 years$3,171$1,816$993$524$270$11
48 years$3,070$1,734$933$484$245$9
49 years$2,973$1,656$877$447$223$8
50 years$2,880$1,581$824$414$202$6

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 $2,523 every year, while hoping to spend $58,411 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: 45/40/15 Blend
53$2,950,000$2,950,000$2,950,000$2,950,000
54$3,253,502$3,097,152$3,051,427$3,385,841
55$3,523,211$3,186,764$3,091,501$3,567,970
56$3,818,472$3,278,809$3,130,960$3,759,267
57$4,141,830$3,373,345$3,169,721$3,965,439
58$4,496,088$3,470,430$3,207,698$4,187,886
59$4,884,331$3,570,123$3,244,799$4,428,151
60$5,309,960$3,672,486$3,280,926$4,687,928
61$5,776,716$3,777,578$3,315,977$4,969,084
62$6,288,723$3,885,461$3,349,844$5,273,673
63$6,850,522$3,996,199$3,382,414$5,603,955
64$7,467,116$4,109,853$3,413,566$5,962,420
65$8,144,015$4,226,489$3,443,173$6,351,806
66$8,887,288$4,346,170$3,471,102$6,775,132
67$9,703,621$4,468,962$3,497,214$7,235,717
68$10,600,379$4,594,930$3,521,360$7,737,219
69$11,585,677$4,724,141$3,543,385$8,283,667
70$12,668,454$4,856,661$3,563,126$8,879,494
71$13,858,556$4,992,558$3,580,410$9,529,587
72$15,166,833$5,131,898$3,595,058$10,239,327
73$16,605,238$5,274,748$3,606,880$11,014,638
74$18,186,938$5,421,177$3,615,677$11,862,050
75$19,926,443$5,571,252$3,621,240$12,788,753
76$21,839,738$5,725,041$3,623,348$13,802,669
77$23,944,433$5,882,610$3,621,773$14,912,524
78$26,259,934$6,044,027$3,616,271$16,127,932
79$28,807,621$6,209,358$3,606,590$17,459,484
80$31,611,051$6,378,669$3,592,464$18,918,849
81$34,696,181$6,552,026$3,573,613$20,518,882
82$38,091,608$6,729,492$3,549,746$22,273,749
83$41,828,847$6,911,132$3,520,557$24,199,055
84$45,942,618$7,097,006$3,485,725$26,311,997
85$50,471,182$7,287,176$3,444,913$28,631,520
86$55,456,695$7,481,701$3,397,771$31,178,500
87$60,945,611$7,680,637$3,343,929$33,975,941
88$66,989,114$7,884,039$3,283,001$37,049,189
89$73,643,607$8,091,960$3,214,585$40,426,174
90$80,971,239$8,304,450$3,138,258$44,137,671
91$89,040,492$8,521,555$3,053,576$48,217,592
92$97,926,831$8,743,320$2,960,079$52,703,307
93$107,713,408$8,969,783$2,857,283$57,635,993
94$118,491,855$9,200,981$2,744,681$63,061,028
95$130,363,141$9,436,946$2,621,744$69,028,415
96$143,438,529$9,677,704$2,487,921$75,593,253
97$157,840,625$9,923,278$2,342,632$82,816,264
98$173,704,533$10,173,683$2,185,274$90,764,359
99$191,179,130$10,428,928$2,015,216$99,511,274
100$210,428,474$10,689,018$1,831,798$109,138,263