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%12%
1 years$246,911$244,712$242,566$240,472$238,427$236,429
2 years$122,233$119,957$117,751$115,611$113,537$111,523
3 years$80,679$78,393$76,192$74,073$72,032$70,066
4 years$59,907$57,627$55,449$53,366$51,374$49,469
5 years$47,446$45,180$43,030$40,990$39,054$37,216
6 years$39,142$36,893$34,775$32,780$30,902$29,134
7 years$33,213$30,983$28,898$26,950$25,131$23,434
8 years$28,768$26,558$24,508$22,608$20,849$19,222
9 years$25,312$23,124$21,109$19,257$17,558$16,001
10 years$22,550$20,382$18,403$16,600$14,960$13,473
11 years$20,291$18,145$16,202$14,447$12,866$11,447
12 years$18,410$16,286$14,379$12,672$11,150$9,797
13 years$16,819$14,718$12,846$11,187$9,723$8,435
14 years$15,457$13,378$11,542$9,931$8,523$7,299
15 years$14,278$12,221$10,421$8,856$7,504$6,342
16 years$13,247$11,213$9,448$7,930$6,632$5,530
17 years$12,338$10,326$8,598$7,125$5,881$4,837
18 years$11,531$9,542$7,849$6,421$5,229$4,241
19 years$10,810$8,844$7,185$5,802$4,660$3,727
20 years$10,162$8,218$6,594$5,255$4,163$3,281
21 years$9,576$7,655$6,065$4,769$3,725$2,894
22 years$9,045$7,145$5,590$4,336$3,339$2,556
23 years$8,560$6,683$5,161$3,949$2,997$2,260
24 years$8,116$6,261$4,773$3,602$2,694$2,001
25 years$7,709$5,876$4,421$3,289$2,424$1,773
26 years$7,333$5,523$4,100$3,008$2,184$1,573
27 years$6,986$5,197$3,808$2,753$1,969$1,396
28 years$6,664$4,897$3,540$2,522$1,777$1,240
29 years$6,365$4,620$3,294$2,313$1,604$1,102
30 years$6,086$4,363$3,068$2,123$1,449$980
31 years$5,826$4,125$2,860$1,950$1,310$871
32 years$5,583$3,903$2,669$1,792$1,185$776
33 years$5,355$3,696$2,492$1,648$1,073$690
34 years$5,140$3,503$2,328$1,516$971$615
35 years$4,939$3,323$2,177$1,396$880$548
36 years$4,749$3,154$2,036$1,285$797$488
37 years$4,570$2,995$1,906$1,184$722$435
38 years$4,400$2,846$1,785$1,091$655$388
39 years$4,240$2,707$1,672$1,006$594$346
40 years$4,088$2,575$1,567$928$539$308
41 years$3,944$2,451$1,470$856$489$275
42 years$3,807$2,335$1,379$790$443$245
43 years$3,676$2,224$1,294$730$402$219
44 years$3,553$2,120$1,214$674$365$195
45 years$3,434$2,022$1,140$622$332$174
46 years$3,322$1,929$1,071$575$301$155
47 years$3,214$1,841$1,006$531$273$139
48 years$3,112$1,757$945$491$248$124
49 years$3,013$1,678$889$453$226$110
50 years$2,919$1,603$835$419$205$99

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 $2,847 every year, while hoping to spend $52,942 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: 44/44/12 Blend
53$2,990,000$2,990,000$2,990,000$2,990,000
54$3,297,917$3,139,447$3,093,102$3,431,536
55$3,577,974$3,236,950$3,140,391$3,622,375
56$3,884,823$3,337,456$3,187,490$3,823,516
57$4,221,141$3,441,057$3,234,336$4,040,346
58$4,589,875$3,547,846$3,280,864$4,274,331
59$4,994,272$3,657,921$3,327,003$4,527,081
60$5,437,909$3,771,380$3,372,679$4,800,366
61$5,924,725$3,888,327$3,417,813$5,096,135
62$6,459,059$4,008,867$3,462,321$5,416,530
63$7,045,691$4,133,109$3,506,117$5,763,907
64$7,689,884$4,261,165$3,549,105$6,140,861
65$8,397,440$4,393,149$3,591,187$6,550,244
66$9,174,747$4,529,182$3,632,260$6,995,196
67$10,028,844$4,669,384$3,672,213$7,479,173
68$10,967,484$4,813,881$3,710,930$8,005,978
69$11,999,209$4,962,804$3,748,289$8,579,798
70$13,133,432$5,116,284$3,784,159$9,205,242
71$14,380,519$5,274,460$3,818,406$9,887,384
72$15,751,896$5,437,472$3,850,886$10,631,810
73$17,260,146$5,605,465$3,881,448$11,444,671
74$18,919,137$5,778,589$3,909,933$12,332,741
75$20,744,146$5,956,997$3,936,173$13,303,477
76$22,752,007$6,140,848$3,959,992$14,365,094
77$24,961,266$6,330,304$3,981,207$15,526,636
78$27,392,360$6,525,533$3,999,621$16,798,065
79$30,067,803$6,726,707$4,015,032$18,190,355
80$33,012,407$6,934,004$4,027,223$19,715,589
81$36,253,508$7,147,605$4,035,970$21,387,080
82$39,821,226$7,367,698$4,041,036$23,219,490
83$43,748,753$7,594,477$4,042,172$25,228,971
84$48,072,658$7,828,139$4,039,118$27,433,314
85$52,833,241$8,068,889$4,031,599$29,852,121
86$58,074,903$8,316,937$4,019,330$32,506,983
87$63,846,575$8,572,498$4,002,009$35,421,686
88$70,202,170$8,835,795$3,979,320$38,622,438
89$77,201,097$9,107,055$3,950,934$42,138,108
90$84,908,822$9,386,514$3,916,503$46,000,506
91$93,397,482$9,674,412$3,875,666$50,244,675
92$102,746,565$9,970,999$3,828,040$54,909,226
93$113,043,664$10,276,528$3,773,230$60,036,700
94$124,385,302$10,591,261$3,710,817$65,673,967
95$136,877,839$10,915,469$3,640,366$71,872,672
96$150,638,480$11,249,429$3,561,419$78,689,715
97$165,796,378$11,593,424$3,473,500$86,187,793
98$182,493,854$11,947,747$3,376,107$94,435,988
99$200,887,739$12,312,698$3,268,719$103,510,418
100$221,150,854$12,688,587$3,150,787$113,494,956