Can I retire at age 54 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$244,434$242,257$240,132$238,059$236,035$232,892
2 years$121,007$118,753$116,569$114,451$112,397$109,236
3 years$79,870$77,607$75,428$73,330$71,310$68,228
4 years$59,306$57,049$54,892$52,830$50,859$47,881
5 years$46,970$44,727$42,599$40,579$38,662$35,796
6 years$38,749$36,523$34,426$32,451$30,592$27,842
7 years$32,879$30,672$28,608$26,680$24,879$22,246
8 years$28,479$26,292$24,262$22,381$20,640$18,123
9 years$25,058$22,892$20,897$19,064$17,382$14,980
10 years$22,323$20,178$18,218$16,433$14,810$12,521
11 years$20,087$17,963$16,039$14,302$12,737$10,560
12 years$18,225$16,123$14,234$12,545$11,038$8,969
13 years$16,650$14,570$12,717$11,075$9,625$7,663
14 years$15,302$13,244$11,427$9,831$8,437$6,578
15 years$14,135$12,099$10,317$8,768$7,429$5,669
16 years$13,114$11,100$9,354$7,850$6,566$4,903
17 years$12,214$10,223$8,511$7,054$5,822$4,252
18 years$11,416$9,446$7,770$6,357$5,176$3,697
19 years$10,702$8,755$7,113$5,744$4,614$3,220
20 years$10,060$8,135$6,528$5,202$4,121$2,811
21 years$9,480$7,578$6,004$4,721$3,688$2,457
22 years$8,954$7,074$5,534$4,293$3,306$2,150
23 years$8,474$6,616$5,110$3,909$2,967$1,884
24 years$8,035$6,199$4,726$3,566$2,667$1,653
25 years$7,631$5,817$4,377$3,256$2,400$1,451
26 years$7,260$5,467$4,059$2,977$2,162$1,275
27 years$6,916$5,145$3,769$2,725$1,949$1,121
28 years$6,597$4,848$3,504$2,497$1,759$986
29 years$6,301$4,574$3,261$2,290$1,588$867
30 years$6,025$4,319$3,037$2,101$1,435$764
31 years$5,768$4,083$2,832$1,930$1,297$673
32 years$5,527$3,864$2,642$1,774$1,173$593
33 years$5,301$3,659$2,467$1,631$1,062$523
34 years$5,089$3,468$2,305$1,501$962$461
35 years$4,889$3,289$2,155$1,382$871$406
36 years$4,701$3,122$2,016$1,272$789$358
37 years$4,524$2,965$1,887$1,172$715$316
38 years$4,356$2,818$1,767$1,081$648$279
39 years$4,197$2,680$1,655$996$588$246
40 years$4,047$2,549$1,552$919$533$217
41 years$3,904$2,427$1,455$848$484$192
42 years$3,769$2,311$1,365$782$439$169
43 years$3,640$2,202$1,281$722$398$149
44 years$3,517$2,099$1,202$667$362$132
45 years$3,400$2,002$1,129$616$328$116
46 years$3,288$1,909$1,060$569$298$103
47 years$3,182$1,822$996$526$271$91
48 years$3,080$1,740$936$486$246$80
49 years$2,983$1,661$880$449$223$71
50 years$2,890$1,587$827$415$203$63

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,960,000, adding $2,010 every year, while hoping to spend $37,588 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: 60/21/19 Blend
53$2,960,000$2,960,000$2,960,000$2,960,000
54$3,263,993$3,107,113$3,061,233$3,443,576
55$3,556,927$3,219,369$3,123,791$3,677,552
56$3,878,481$3,335,864$3,187,185$3,928,372
57$4,231,533$3,456,769$3,251,403$4,201,156
58$4,619,257$3,582,258$3,316,432$4,498,037
59$5,045,145$3,712,513$3,382,257$4,821,361
60$5,513,048$3,847,724$3,448,861$5,173,714
61$6,027,206$3,988,090$3,516,225$5,557,939
62$6,592,291$4,133,816$3,584,328$5,977,166
63$7,213,449$4,285,117$3,653,147$6,434,841
64$7,896,350$4,442,218$3,722,658$6,934,759
65$8,647,242$4,605,351$3,792,831$7,481,095
66$9,473,008$4,774,759$3,863,637$8,078,447
67$10,381,229$4,950,697$3,935,044$8,731,880
68$11,380,261$5,133,428$4,007,015$9,446,969
69$12,479,309$5,323,228$4,079,511$10,229,853
70$13,688,515$5,520,382$4,152,491$11,087,293
71$15,019,054$5,725,192$4,225,910$12,026,736
72$16,483,239$5,937,967$4,299,720$13,056,382
73$18,094,637$6,159,035$4,373,867$14,185,263
74$19,868,195$6,388,733$4,448,297$15,423,327
75$21,820,385$6,627,415$4,522,949$16,781,531
76$23,969,356$6,875,450$4,597,760$18,271,943
77$26,335,106$7,133,223$4,672,660$19,907,857
78$28,939,670$7,401,134$4,747,578$21,703,918
79$31,807,329$7,679,602$4,822,434$23,676,257
80$34,964,837$7,969,062$4,897,145$25,842,644
81$38,441,675$8,269,971$4,971,625$28,222,654
82$42,270,329$8,582,803$5,045,777$30,837,855
83$46,486,595$8,908,053$5,119,504$33,712,003
84$51,129,918$9,246,238$5,192,697$36,871,274
85$56,243,764$9,597,898$5,265,247$40,344,502
86$61,876,027$9,963,594$5,337,032$44,163,459
87$68,079,486$10,343,915$5,407,927$48,363,145
88$74,912,300$10,739,472$5,477,798$52,982,124
89$82,438,554$11,150,907$5,546,505$58,062,882
90$90,728,871$11,578,885$5,613,896$63,652,234
91$99,861,069$12,024,104$5,679,816$69,801,756
92$109,920,905$12,487,291$5,744,096$76,568,276
93$121,002,874$12,969,206$5,806,560$84,014,410
94$133,211,111$13,470,641$5,867,024$92,209,149
95$146,660,365$13,992,423$5,925,290$101,228,509
96$161,477,087$14,535,416$5,981,152$111,156,251
97$177,800,622$15,100,524$6,034,392$122,084,664
98$195,784,523$15,688,687$6,084,782$134,115,441
99$215,598,001$16,300,889$6,132,079$147,360,635
100$237,427,523$16,938,159$6,176,029$161,943,713