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%17.2%
1 years$246,911$244,712$242,566$240,472$238,427$231,444
2 years$122,233$119,957$117,751$115,611$113,537$106,558
3 years$80,679$78,393$76,192$74,073$72,032$65,277
4 years$59,907$57,627$55,449$53,366$51,374$44,893
5 years$47,446$45,180$43,030$40,990$39,054$32,865
6 years$39,142$36,893$34,775$32,780$30,902$25,012
7 years$33,213$30,983$28,898$26,950$25,131$19,539
8 years$28,768$26,558$24,508$22,608$20,849$15,552
9 years$25,312$23,124$21,109$19,257$17,558$12,550
10 years$22,550$20,382$18,403$16,600$14,960$10,234
11 years$20,291$18,145$16,202$14,447$12,866$8,415
12 years$18,410$16,286$14,379$12,672$11,150$6,964
13 years$16,819$14,718$12,846$11,187$9,723$5,793
14 years$15,457$13,378$11,542$9,931$8,523$4,840
15 years$14,278$12,221$10,421$8,856$7,504$4,057
16 years$13,247$11,213$9,448$7,930$6,632$3,411
17 years$12,338$10,326$8,598$7,125$5,881$2,874
18 years$11,531$9,542$7,849$6,421$5,229$2,426
19 years$10,810$8,844$7,185$5,802$4,660$2,052
20 years$10,162$8,218$6,594$5,255$4,163$1,738
21 years$9,576$7,655$6,065$4,769$3,725$1,473
22 years$9,045$7,145$5,590$4,336$3,339$1,250
23 years$8,560$6,683$5,161$3,949$2,997$1,062
24 years$8,116$6,261$4,773$3,602$2,694$903
25 years$7,709$5,876$4,421$3,289$2,424$767
26 years$7,333$5,523$4,100$3,008$2,184$653
27 years$6,986$5,197$3,808$2,753$1,969$556
28 years$6,664$4,897$3,540$2,522$1,777$473
29 years$6,365$4,620$3,294$2,313$1,604$403
30 years$6,086$4,363$3,068$2,123$1,449$343
31 years$5,826$4,125$2,860$1,950$1,310$293
32 years$5,583$3,903$2,669$1,792$1,185$249
33 years$5,355$3,696$2,492$1,648$1,073$213
34 years$5,140$3,503$2,328$1,516$971$181
35 years$4,939$3,323$2,177$1,396$880$155
36 years$4,749$3,154$2,036$1,285$797$132
37 years$4,570$2,995$1,906$1,184$722$112
38 years$4,400$2,846$1,785$1,091$655$96
39 years$4,240$2,707$1,672$1,006$594$82
40 years$4,088$2,575$1,567$928$539$70
41 years$3,944$2,451$1,470$856$489$60
42 years$3,807$2,335$1,379$790$443$51
43 years$3,676$2,224$1,294$730$402$43
44 years$3,553$2,120$1,214$674$365$37
45 years$3,434$2,022$1,140$622$332$32
46 years$3,322$1,929$1,071$575$301$27
47 years$3,214$1,841$1,006$531$273$23
48 years$3,112$1,757$945$491$248$20
49 years$3,013$1,678$889$453$226$17
50 years$2,919$1,603$835$419$205$14

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 $4,437 every year, while hoping to spend $55,971 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: 73/8/19 Blend
53$2,990,000$2,990,000$2,990,000$2,990,000
54$3,299,557$3,141,087$3,094,742$3,525,273
55$3,576,559$3,235,447$3,138,863$3,770,127
56$3,879,939$3,332,556$3,182,586$4,031,078
57$4,212,329$3,432,487$3,225,839$4,315,517
58$4,576,627$3,535,320$3,268,545$4,625,764
59$4,976,025$3,641,132$3,310,623$4,964,381
60$5,414,037$3,750,005$3,351,987$5,334,183
61$5,894,537$3,862,023$3,392,546$5,738,276
62$6,421,787$3,977,270$3,432,204$6,180,079
63$7,000,486$4,095,833$3,470,860$6,663,357
64$7,635,809$4,217,801$3,508,406$7,192,261
65$8,333,454$4,343,267$3,544,731$7,771,361
66$9,099,702$4,472,322$3,579,714$8,405,692
67$9,941,467$4,605,062$3,613,231$9,100,804
68$10,866,372$4,741,584$3,645,149$9,862,808
69$11,882,809$4,881,989$3,675,328$10,698,438
70$13,000,027$5,026,378$3,703,623$11,615,113
71$14,228,213$5,174,854$3,729,879$12,621,009
72$15,578,594$5,327,525$3,753,933$13,725,133
73$17,063,535$5,484,499$3,775,614$14,937,409
74$18,696,662$5,645,885$3,794,743$16,268,772
75$20,492,987$5,811,799$3,811,132$17,731,271
76$22,469,048$5,982,353$3,824,581$19,338,183
77$24,643,069$6,157,667$3,834,883$21,104,136
78$27,035,129$6,337,860$3,841,819$23,045,251
79$29,667,351$6,523,054$3,845,159$25,179,290
80$32,564,111$6,713,373$3,844,662$27,525,826
81$35,752,267$6,908,945$3,840,074$30,106,427
82$39,261,413$7,109,899$3,831,132$32,944,859
83$43,124,159$7,316,365$3,817,556$36,067,311
84$47,376,433$7,528,477$3,799,055$39,502,643
85$52,057,829$7,746,372$3,775,323$43,282,655
86$57,211,971$7,970,187$3,746,039$47,442,391
87$62,886,928$8,200,063$3,710,868$52,020,468
88$69,135,671$8,436,142$3,669,458$57,059,440
89$76,016,564$8,678,568$3,621,440$62,606,202
90$83,593,925$8,927,489$3,566,429$68,712,428
91$91,938,621$9,183,052$3,504,020$75,435,066
92$101,128,747$9,445,408$3,433,792$82,836,867
93$111,250,357$9,714,711$3,355,301$90,986,984
94$122,398,274$9,991,112$3,268,085$99,961,624
95$134,676,991$10,274,770$3,171,659$109,844,763
96$148,201,651$10,565,841$3,065,516$120,728,945
97$163,099,137$10,864,484$2,949,128$132,716,151
98$179,509,264$11,170,859$2,821,939$145,918,762
99$197,586,106$11,485,128$2,683,371$160,460,625
100$217,499,443$11,807,454$2,532,819$176,478,217