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%14.9%
1 years$245,260$243,075$240,944$238,863$236,832$232,050
2 years$121,416$119,154$116,963$114,838$112,777$107,981
3 years$80,140$77,869$75,683$73,578$71,550$66,889
4 years$59,506$57,242$55,078$53,009$51,030$46,539
5 years$47,129$44,878$42,743$40,716$38,792$34,485
6 years$38,880$36,646$34,542$32,561$30,695$26,576
7 years$32,990$30,776$28,705$26,770$24,963$21,033
8 years$28,575$26,380$24,344$22,457$20,710$16,967
9 years$25,143$22,969$20,967$19,128$17,440$13,883
10 years$22,399$20,246$18,280$16,489$14,860$11,485
11 years$20,155$18,024$16,093$14,350$12,780$9,583
12 years$18,286$16,177$14,282$12,587$11,075$8,051
13 years$16,707$14,619$12,760$11,112$9,658$6,801
14 years$15,354$13,289$11,465$9,864$8,466$5,772
15 years$14,182$12,139$10,352$8,797$7,454$4,917
16 years$13,158$11,138$9,385$7,877$6,588$4,202
17 years$12,256$10,257$8,540$7,077$5,841$3,600
18 years$11,454$9,478$7,796$6,378$5,194$3,092
19 years$10,738$8,784$7,137$5,763$4,629$2,660
20 years$10,094$8,163$6,550$5,220$4,135$2,292
21 years$9,512$7,603$6,025$4,737$3,700$1,978
22 years$8,984$7,098$5,553$4,307$3,317$1,709
23 years$8,503$6,638$5,127$3,923$2,977$1,478
24 years$8,062$6,220$4,742$3,578$2,676$1,279
25 years$7,657$5,837$4,392$3,267$2,408$1,108
26 years$7,284$5,486$4,073$2,987$2,169$960
27 years$6,939$5,163$3,782$2,735$1,956$833
28 years$6,619$4,865$3,516$2,505$1,765$722
29 years$6,322$4,589$3,272$2,298$1,593$627
30 years$6,046$4,334$3,048$2,109$1,440$544
31 years$5,787$4,097$2,841$1,937$1,302$473
32 years$5,545$3,877$2,651$1,780$1,177$411
33 years$5,319$3,671$2,475$1,637$1,066$357
34 years$5,106$3,480$2,313$1,506$965$310
35 years$4,906$3,300$2,162$1,386$874$270
36 years$4,717$3,132$2,023$1,277$792$235
37 years$4,539$2,975$1,893$1,176$718$204
38 years$4,371$2,827$1,773$1,084$651$177
39 years$4,211$2,689$1,661$1,000$590$154
40 years$4,060$2,558$1,557$922$535$134
41 years$3,917$2,435$1,460$851$485$117
42 years$3,781$2,319$1,369$785$441$102
43 years$3,652$2,210$1,285$725$400$88
44 years$3,529$2,106$1,206$669$363$77
45 years$3,411$2,008$1,133$618$329$67
46 years$3,300$1,916$1,064$571$299$58
47 years$3,193$1,828$999$527$272$51
48 years$3,091$1,745$939$487$247$44
49 years$2,993$1,667$883$450$224$38
50 years$2,900$1,592$830$416$203$33

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 $3,395 every year, while hoping to spend $39,423 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: 57/38/5 Blend
53$2,970,000$2,970,000$2,970,000$2,970,000
54$3,276,442$3,119,032$3,072,997$3,459,895
55$3,568,693$3,229,919$3,133,997$3,694,388
56$3,889,433$3,344,918$3,195,718$3,944,992
57$4,241,525$3,464,189$3,258,145$4,217,032
58$4,628,125$3,587,898$3,321,257$4,512,555
59$5,052,708$3,716,219$3,385,033$4,833,813
60$5,519,102$3,849,332$3,449,450$5,183,282
61$6,031,526$3,987,425$3,514,482$5,563,684
62$6,594,625$4,130,692$3,580,101$5,978,014
63$7,213,519$4,279,338$3,646,276$6,429,568
64$7,893,847$4,433,575$3,712,975$6,921,970
65$8,641,821$4,593,622$3,780,162$7,459,209
66$9,464,287$4,759,710$3,847,798$8,045,676
67$10,368,786$4,932,077$3,915,841$8,686,199
68$11,363,628$5,110,974$3,984,246$9,386,095
69$12,457,965$5,296,659$4,052,966$10,151,216
70$13,661,885$5,489,403$4,121,948$10,988,003
71$14,986,501$5,689,488$4,191,137$11,903,545
72$16,444,058$5,897,206$4,260,474$12,905,649
73$18,048,046$6,112,864$4,329,894$14,002,907
74$19,813,333$6,336,780$4,399,332$15,204,780
75$21,756,297$6,569,286$4,468,713$16,521,687
76$23,894,986$6,810,728$4,537,962$17,965,098
77$26,249,287$7,061,467$4,606,997$19,547,645
78$28,841,113$7,321,877$4,675,730$21,283,236
79$31,694,609$7,592,351$4,744,069$23,187,190
80$34,836,380$7,873,297$4,811,916$25,276,377
81$38,295,743$8,165,141$4,879,167$27,569,376
82$42,105,001$8,468,325$4,945,712$30,086,650
83$46,299,751$8,783,313$5,011,433$32,850,736
84$50,919,217$9,110,587$5,076,207$35,886,459
85$56,006,620$9,450,649$5,139,903$39,221,162
86$61,609,588$9,804,023$5,202,383$42,884,965
87$67,780,603$10,171,258$5,263,500$46,911,042
88$74,577,498$10,552,922$5,323,100$51,335,942
89$82,063,998$10,949,611$5,381,019$56,199,922
90$90,310,329$11,361,945$5,437,087$61,547,331
91$99,393,873$11,790,571$5,491,120$67,427,027
92$109,399,903$12,236,164$5,542,928$73,892,831
93$120,422,386$12,699,429$5,592,308$81,004,038
94$132,564,869$13,181,100$5,639,050$88,825,973
95$145,941,456$13,681,944$5,682,928$97,430,603
96$160,677,886$14,202,761$5,723,708$106,897,218
97$176,912,719$14,744,386$5,761,141$117,313,173
98$194,798,645$15,307,689$5,794,968$128,774,712
99$214,503,922$15,893,581$5,824,914$141,387,873
100$236,213,965$16,503,009$5,850,692$155,269,487