Can I retire at age 54 with 2,990,000?

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 $2,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$246,911$244,712$242,566$240,472$238,427$229,148
2 years$122,233$119,957$117,751$115,611$113,537$104,300
3 years$80,679$78,393$76,192$74,073$72,032$63,129
4 years$59,907$57,627$55,449$53,366$51,374$42,872
5 years$47,446$45,180$43,030$40,990$39,054$30,975
6 years$39,142$36,893$34,775$32,780$30,902$23,251
7 years$33,213$30,983$28,898$26,950$25,131$17,907
8 years$28,768$26,558$24,508$22,608$20,849$14,043
9 years$25,312$23,124$21,109$19,257$17,558$11,160
10 years$22,550$20,382$18,403$16,600$14,960$8,959
11 years$20,291$18,145$16,202$14,447$12,866$7,248
12 years$18,410$16,286$14,379$12,672$11,150$5,899
13 years$16,819$14,718$12,846$11,187$9,723$4,825
14 years$15,457$13,378$11,542$9,931$8,523$3,961
15 years$14,278$12,221$10,421$8,856$7,504$3,262
16 years$13,247$11,213$9,448$7,930$6,632$2,693
17 years$12,338$10,326$8,598$7,125$5,881$2,228
18 years$11,531$9,542$7,849$6,421$5,229$1,846
19 years$10,810$8,844$7,185$5,802$4,660$1,532
20 years$10,162$8,218$6,594$5,255$4,163$1,273
21 years$9,576$7,655$6,065$4,769$3,725$1,058
22 years$9,045$7,145$5,590$4,336$3,339$881
23 years$8,560$6,683$5,161$3,949$2,997$734
24 years$8,116$6,261$4,773$3,602$2,694$611
25 years$7,709$5,876$4,421$3,289$2,424$509
26 years$7,333$5,523$4,100$3,008$2,184$425
27 years$6,986$5,197$3,808$2,753$1,969$354
28 years$6,664$4,897$3,540$2,522$1,777$296
29 years$6,365$4,620$3,294$2,313$1,604$247
30 years$6,086$4,363$3,068$2,123$1,449$206
31 years$5,826$4,125$2,860$1,950$1,310$172
32 years$5,583$3,903$2,669$1,792$1,185$144
33 years$5,355$3,696$2,492$1,648$1,073$120
34 years$5,140$3,503$2,328$1,516$971$100
35 years$4,939$3,323$2,177$1,396$880$84
36 years$4,749$3,154$2,036$1,285$797$70
37 years$4,570$2,995$1,906$1,184$722$58
38 years$4,400$2,846$1,785$1,091$655$49
39 years$4,240$2,707$1,672$1,006$594$41
40 years$4,088$2,575$1,567$928$539$34
41 years$3,944$2,451$1,470$856$489$28
42 years$3,807$2,335$1,379$790$443$24
43 years$3,676$2,224$1,294$730$402$20
44 years$3,553$2,120$1,214$674$365$17
45 years$3,434$2,022$1,140$622$332$14
46 years$3,322$1,929$1,071$575$301$12
47 years$3,214$1,841$1,006$531$273$10
48 years$3,112$1,757$945$491$248$8
49 years$3,013$1,678$889$453$226$7
50 years$2,919$1,603$835$419$205$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,990,000, adding $3,955 every year, while hoping to spend $25,194 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: 63/17/20 Blend
53$2,990,000$2,990,000$2,990,000$2,990,000
54$3,299,060$3,140,590$3,094,245$3,489,723
55$3,608,757$3,267,672$3,171,096$3,745,731
56$3,949,200$3,400,138$3,249,677$4,022,019
57$4,323,497$3,538,223$3,330,019$4,323,179
58$4,735,074$3,682,176$3,412,155$4,651,640
59$5,187,704$3,832,255$3,496,115$5,010,075
60$5,685,547$3,988,733$3,581,932$5,401,426
61$6,233,184$4,151,892$3,669,638$5,828,932
62$6,835,663$4,322,029$3,759,265$6,296,156
63$7,498,546$4,499,454$3,850,846$6,807,022
64$8,227,961$4,684,490$3,944,412$7,365,849
65$9,030,659$4,877,476$4,039,996$7,977,392
66$9,914,082$5,078,768$4,137,631$8,646,885
67$10,886,426$5,288,735$4,237,350$9,380,094
68$11,956,723$5,507,765$4,339,183$10,183,365
69$13,134,928$5,736,265$4,443,164$11,063,686
70$14,432,005$5,974,657$4,549,326$12,028,755
71$15,860,041$6,223,385$4,657,698$13,087,045
72$17,432,348$6,482,915$4,768,315$14,247,892
73$19,163,601$6,753,731$4,881,207$15,521,574
74$21,069,965$7,036,341$4,996,404$16,919,413
75$23,169,257$7,331,277$5,113,939$18,453,878
76$25,481,106$7,639,094$5,233,841$20,138,704
77$28,027,145$7,960,375$5,356,140$21,989,018
78$30,831,208$8,295,729$5,480,866$24,021,484
79$33,919,563$8,645,791$5,608,046$26,254,457
80$37,321,153$9,011,229$5,737,710$28,708,156
81$41,067,871$9,392,740$5,869,884$31,404,853
82$45,194,863$9,791,054$6,004,595$34,369,085
83$49,740,858$10,206,934$6,141,867$37,627,880
84$54,748,532$10,641,180$6,281,726$41,211,015
85$60,264,913$11,094,629$6,424,195$45,151,294
86$66,341,824$11,568,155$6,569,295$49,484,856
87$73,036,371$12,062,676$6,717,048$54,251,516
88$80,411,484$12,579,150$6,867,472$59,495,138
89$88,536,509$13,118,582$7,020,586$65,264,050
90$97,487,862$13,682,022$7,176,405$71,611,495
91$107,349,754$14,270,571$7,334,944$78,596,135
92$118,214,979$14,885,379$7,496,215$86,282,605
93$130,185,797$15,527,653$7,660,228$94,742,114
94$143,374,895$16,198,654$7,826,992$104,053,125
95$157,906,450$16,899,704$7,996,513$114,302,085
96$173,917,305$17,632,186$8,168,792$125,584,246
97$191,558,255$18,397,548$8,343,832$138,004,558
98$210,995,475$19,197,307$8,521,629$151,678,661
99$232,412,088$20,033,049$8,702,177$166,733,970
100$256,009,890$20,906,438$8,885,470$183,310,880