Can I retire at age 54 with 2,970,000?

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 $2,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$245,260$243,075$240,944$238,863$236,832$231,201
2 years$121,416$119,154$116,963$114,838$112,777$107,136
3 years$80,140$77,869$75,683$73,578$71,550$66,077
4 years$59,506$57,242$55,078$53,009$51,030$45,766
5 years$47,129$44,878$42,743$40,716$38,792$33,752
6 years$38,880$36,646$34,542$32,561$30,695$25,884
7 years$32,990$30,776$28,705$26,770$24,963$20,382
8 years$28,575$26,380$24,344$22,457$20,710$16,356
9 years$25,143$22,969$20,967$19,128$17,440$13,311
10 years$22,399$20,246$18,280$16,489$14,860$10,950
11 years$20,155$18,024$16,093$14,350$12,780$9,085
12 years$18,286$16,177$14,282$12,587$11,075$7,588
13 years$16,707$14,619$12,760$11,112$9,658$6,372
14 years$15,354$13,289$11,465$9,864$8,466$5,374
15 years$14,182$12,139$10,352$8,797$7,454$4,550
16 years$13,158$11,138$9,385$7,877$6,588$3,863
17 years$12,256$10,257$8,540$7,077$5,841$3,289
18 years$11,454$9,478$7,796$6,378$5,194$2,806
19 years$10,738$8,784$7,137$5,763$4,629$2,398
20 years$10,094$8,163$6,550$5,220$4,135$2,052
21 years$9,512$7,603$6,025$4,737$3,700$1,759
22 years$8,984$7,098$5,553$4,307$3,317$1,509
23 years$8,503$6,638$5,127$3,923$2,977$1,296
24 years$8,062$6,220$4,742$3,578$2,676$1,113
25 years$7,657$5,837$4,392$3,267$2,408$958
26 years$7,284$5,486$4,073$2,987$2,169$824
27 years$6,939$5,163$3,782$2,735$1,956$709
28 years$6,619$4,865$3,516$2,505$1,765$611
29 years$6,322$4,589$3,272$2,298$1,593$526
30 years$6,046$4,334$3,048$2,109$1,440$454
31 years$5,787$4,097$2,841$1,937$1,302$391
32 years$5,545$3,877$2,651$1,780$1,177$337
33 years$5,319$3,671$2,475$1,637$1,066$291
34 years$5,106$3,480$2,313$1,506$965$251
35 years$4,906$3,300$2,162$1,386$874$216
36 years$4,717$3,132$2,023$1,277$792$187
37 years$4,539$2,975$1,893$1,176$718$161
38 years$4,371$2,827$1,773$1,084$651$139
39 years$4,211$2,689$1,661$1,000$590$120
40 years$4,060$2,558$1,557$922$535$104
41 years$3,917$2,435$1,460$851$485$89
42 years$3,781$2,319$1,369$785$441$77
43 years$3,652$2,210$1,285$725$400$67
44 years$3,529$2,106$1,206$669$363$58
45 years$3,411$2,008$1,133$618$329$50
46 years$3,300$1,916$1,064$571$299$43
47 years$3,193$1,828$999$527$272$37
48 years$3,091$1,745$939$487$247$32
49 years$2,993$1,667$883$450$224$28
50 years$2,900$1,592$830$416$203$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,970,000, adding $4,375 every year, while hoping to spend $35,986 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: 87/8/5 Blend
53$2,970,000$2,970,000$2,970,000$2,970,000
54$3,277,453$3,120,043$3,074,008$3,562,483
55$3,573,464$3,234,636$3,138,698$3,863,278
56$3,898,463$3,353,638$3,204,350$4,188,360
57$4,255,367$3,477,228$3,270,956$4,544,469
58$4,647,392$3,605,589$3,338,511$4,934,703
59$5,078,080$3,738,917$3,407,005$5,362,474
60$5,551,333$3,877,413$3,476,429$5,831,539
61$6,071,449$4,021,286$3,546,769$6,346,037
62$6,643,164$4,170,757$3,618,013$6,910,526
63$7,271,696$4,326,053$3,690,146$7,530,025
64$7,962,792$4,487,412$3,763,149$8,210,066
65$8,722,785$4,655,084$3,837,003$8,956,740
66$9,558,653$4,829,328$3,911,687$9,776,757
67$10,478,083$5,010,412$3,987,176$10,677,509
68$11,489,546$5,198,620$4,063,444$11,667,139
69$12,602,372$5,394,245$4,140,462$12,754,617
70$13,826,845$5,597,594$4,218,198$13,949,826
71$15,174,293$5,808,986$4,296,618$15,263,652
72$16,657,200$6,028,756$4,375,684$16,708,091
73$18,289,321$6,257,251$4,455,355$18,296,355
74$20,085,809$6,494,834$4,535,588$20,043,003
75$22,063,366$6,741,885$4,616,334$21,964,076
76$24,240,390$6,998,798$4,697,542$24,077,244
77$26,637,158$7,265,987$4,779,157$26,401,979
78$29,276,009$7,543,882$4,861,121$28,959,734
79$32,181,563$7,832,933$4,943,368$31,774,143
80$35,380,943$8,133,608$5,025,833$34,871,251
81$38,904,042$8,446,397$5,108,441$38,279,752
82$42,783,796$8,771,812$5,191,115$42,031,262
83$47,056,497$9,110,385$5,273,772$46,160,620
84$51,762,141$9,462,675$5,356,323$50,706,209
85$56,944,795$9,829,261$5,438,676$55,710,326
86$62,653,021$10,210,753$5,520,729$61,219,575
87$68,940,333$10,607,783$5,602,377$67,285,307
88$75,865,696$11,021,013$5,683,505$73,964,107
89$83,494,090$11,451,136$5,763,996$81,318,325
90$91,897,117$11,898,872$5,843,720$89,416,665
91$101,153,683$12,364,976$5,922,545$98,334,830
92$111,350,735$12,850,236$6,000,326$108,156,241
93$122,584,086$13,355,474$6,076,913$118,972,820
94$134,959,320$13,881,550$6,152,147$130,885,857
95$148,592,785$14,429,360$6,225,858$144,006,968
96$163,612,693$14,999,842$6,297,868$158,459,144
97$180,160,330$15,593,977$6,367,989$174,377,915
98$198,391,389$16,212,788$6,436,023$191,912,626
99$218,477,440$16,857,343$6,501,758$211,227,845
100$240,607,546$17,528,761$6,564,975$232,504,921