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%16.4%
1 years$243,608$241,438$239,321$237,255$235,237$229,086
2 years$120,598$118,352$116,175$114,065$112,018$105,862
3 years$79,600$77,344$75,173$73,082$71,069$65,102
4 years$59,105$56,856$54,707$52,652$50,687$44,954
5 years$46,811$44,576$42,455$40,442$38,531$33,049
6 years$38,618$36,400$34,310$32,341$30,488$25,262
7 years$32,768$30,568$28,512$26,590$24,795$19,824
8 years$28,383$26,203$24,180$22,305$20,570$15,853
9 years$24,974$22,814$20,826$18,999$17,323$12,855
10 years$22,248$20,110$18,157$16,378$14,760$10,536
11 years$20,019$17,902$15,985$14,253$12,694$8,707
12 years$18,163$16,068$14,186$12,502$11,000$7,244
13 years$16,594$14,521$12,674$11,038$9,593$6,059
14 years$15,250$13,199$11,388$9,798$8,409$5,089
15 years$14,087$12,058$10,282$8,738$7,404$4,291
16 years$13,070$11,063$9,322$7,824$6,544$3,628
17 years$12,173$10,188$8,483$7,030$5,802$3,075
18 years$11,377$9,414$7,744$6,335$5,159$2,611
19 years$10,666$8,725$7,089$5,724$4,598$2,222
20 years$10,026$8,108$6,506$5,185$4,107$1,893
21 years$9,448$7,552$5,984$4,705$3,675$1,615
22 years$8,924$7,050$5,515$4,278$3,295$1,379
23 years$8,445$6,593$5,092$3,896$2,957$1,179
24 years$8,008$6,178$4,710$3,554$2,658$1,008
25 years$7,606$5,797$4,362$3,245$2,392$863
26 years$7,235$5,449$4,046$2,967$2,155$739
27 years$6,892$5,128$3,757$2,716$1,943$633
28 years$6,575$4,832$3,492$2,489$1,753$542
29 years$6,280$4,558$3,250$2,282$1,583$465
30 years$6,005$4,305$3,027$2,094$1,430$399
31 years$5,748$4,070$2,822$1,923$1,293$342
32 years$5,508$3,851$2,633$1,768$1,170$294
33 years$5,283$3,647$2,459$1,626$1,058$252
34 years$5,072$3,456$2,297$1,496$958$216
35 years$4,873$3,278$2,148$1,377$868$186
36 years$4,685$3,111$2,009$1,268$786$159
37 years$4,508$2,955$1,880$1,168$713$137
38 years$4,341$2,808$1,761$1,077$646$117
39 years$4,183$2,671$1,650$993$586$101
40 years$4,033$2,541$1,546$916$531$87
41 years$3,891$2,419$1,450$845$482$74
42 years$3,756$2,303$1,360$780$438$64
43 years$3,627$2,195$1,276$720$397$55
44 years$3,505$2,092$1,198$665$360$47
45 years$3,388$1,995$1,125$614$327$40
46 years$3,277$1,903$1,057$567$297$35
47 years$3,171$1,816$993$524$270$30
48 years$3,070$1,734$933$484$245$26
49 years$2,973$1,656$877$447$223$22
50 years$2,880$1,581$824$414$202$19

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 $4,152 every year, while hoping to spend $20,260 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: 61/18/21 Blend
53$2,950,000$2,950,000$2,950,000$2,950,000
54$3,255,183$3,098,833$3,053,108$3,435,617
55$3,565,655$3,229,119$3,133,830$3,688,461
56$3,907,116$3,365,110$3,216,578$3,961,688
57$4,282,706$3,507,065$3,301,398$4,259,434
58$4,695,884$3,655,253$3,388,336$4,584,086
59$5,150,460$3,809,956$3,477,442$4,938,270
60$5,650,635$3,971,472$3,568,764$5,324,875
61$6,201,034$4,140,109$3,662,352$5,747,080
62$6,806,757$4,316,191$3,758,257$6,208,386
63$7,473,419$4,500,057$3,856,532$6,712,642
64$8,207,211$4,692,063$3,957,229$7,264,088
65$9,014,951$4,892,579$4,060,401$7,867,392
66$9,904,156$5,101,995$4,166,104$8,527,688
67$10,883,104$5,320,717$4,274,393$9,250,632
68$11,960,919$5,549,171$4,385,324$10,042,451
69$13,147,656$5,787,803$4,498,955$10,909,999
70$14,454,391$6,037,080$4,615,345$11,860,823
71$15,893,332$6,297,490$4,734,552$12,903,236
72$17,477,930$6,569,545$4,856,637$14,046,387
73$19,223,006$6,853,781$4,981,662$15,300,357
74$21,144,894$7,150,757$5,109,689$16,676,242
75$23,261,590$7,461,061$5,240,780$18,186,266
76$25,592,926$7,785,307$5,375,000$19,843,890
77$28,160,757$8,124,138$5,512,415$21,663,940
78$30,989,162$8,478,230$5,653,089$23,662,747
79$34,104,679$8,848,285$5,797,090$25,858,295
80$37,536,550$9,235,045$5,944,486$28,270,396
81$41,316,997$9,639,281$6,095,345$30,920,873
82$45,481,528$10,061,803$6,249,737$33,833,763
83$50,069,273$10,503,461$6,407,732$37,035,543
84$55,123,350$10,965,142$6,569,402$40,555,384
85$60,691,274$11,447,775$6,734,819$44,425,416
86$66,825,404$11,952,336$6,904,056$48,681,037
87$73,583,439$12,479,845$7,077,186$53,361,241
88$81,028,962$13,031,370$7,254,284$58,508,989
89$89,232,039$13,608,029$7,435,425$64,171,608
90$98,269,880$14,210,996$7,620,685$70,401,238
91$108,227,571$14,841,498$7,810,141$77,255,324
92$119,198,873$15,500,821$8,003,870$84,797,153
93$131,287,107$16,190,311$8,201,949$93,096,453
94$144,606,136$16,911,379$8,404,458$102,230,046
95$159,281,429$17,665,504$8,611,474$112,282,573
96$175,451,254$18,454,233$8,823,078$123,347,290
97$193,267,980$19,279,189$9,039,349$135,526,944
98$212,899,513$20,142,069$9,260,367$148,934,747
99$234,530,887$21,044,653$9,486,212$163,695,432
100$258,366,002$21,988,806$9,716,966$179,946,437