Can I retire at age 54 with 3,000,000?

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 $3,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$247,737$245,530$243,378$241,276$239,224$234,490
2 years$122,642$120,358$118,144$115,998$113,916$109,167
3 years$80,949$78,655$76,447$74,321$72,273$67,656
4 years$60,107$57,820$55,634$53,544$51,546$47,097
5 years$47,605$45,332$43,174$41,127$39,184$34,917
6 years$39,273$37,017$34,891$32,890$31,005$26,923
7 years$33,324$31,087$28,995$27,040$25,216$21,320
8 years$28,864$26,647$24,590$22,684$20,919$17,208
9 years$25,397$23,201$21,179$19,321$17,617$14,089
10 years$22,625$20,450$18,465$16,655$15,010$11,662
11 years$20,359$18,206$16,256$14,495$12,909$9,737
12 years$18,471$16,341$14,427$12,714$11,187$8,186
13 years$16,875$14,767$12,889$11,225$9,755$6,920
14 years$15,509$13,423$11,581$9,964$8,551$5,877
15 years$14,326$12,262$10,456$8,886$7,529$5,010
16 years$13,291$11,250$9,480$7,957$6,654$4,284
17 years$12,379$10,361$8,626$7,149$5,900$3,673
18 years$11,570$9,574$7,875$6,443$5,246$3,157
19 years$10,846$8,873$7,209$5,821$4,676$2,718
20 years$10,196$8,245$6,616$5,272$4,177$2,344
21 years$9,608$7,680$6,086$4,785$3,738$2,024
22 years$9,075$7,169$5,609$4,351$3,350$1,750
23 years$8,589$6,705$5,179$3,962$3,007$1,515
24 years$8,143$6,282$4,789$3,614$2,703$1,312
25 years$7,734$5,896$4,436$3,300$2,432$1,137
26 years$7,358$5,541$4,114$3,018$2,191$986
27 years$7,009$5,215$3,820$2,762$1,975$856
28 years$6,686$4,914$3,551$2,531$1,782$743
29 years$6,386$4,636$3,305$2,321$1,610$646
30 years$6,107$4,378$3,078$2,130$1,454$561
31 years$5,846$4,139$2,870$1,956$1,315$488
32 years$5,601$3,916$2,678$1,798$1,189$424
33 years$5,373$3,708$2,500$1,653$1,076$369
34 years$5,158$3,515$2,336$1,521$975$321
35 years$4,955$3,334$2,184$1,400$883$279
36 years$4,765$3,164$2,043$1,290$800$243
37 years$4,585$3,005$1,912$1,188$725$211
38 years$4,415$2,856$1,791$1,095$657$184
39 years$4,254$2,716$1,678$1,010$596$160
40 years$4,101$2,584$1,573$931$541$139
41 years$3,957$2,460$1,475$859$490$121
42 years$3,819$2,342$1,383$793$445$106
43 years$3,689$2,232$1,298$732$404$92
44 years$3,564$2,127$1,218$676$367$80
45 years$3,446$2,029$1,144$624$333$70
46 years$3,333$1,935$1,074$577$302$61
47 years$3,225$1,847$1,009$533$274$53
48 years$3,122$1,763$949$492$249$46
49 years$3,023$1,684$892$455$226$40
50 years$2,929$1,608$838$421$206$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $3,000,000, adding $6,100 every year, while hoping to spend $47,444 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: 60/24/16 Blend
53$3,000,000$3,000,000$3,000,000$3,000,000
54$3,312,292$3,153,292$3,106,792$3,497,207
55$3,599,666$3,257,323$3,160,390$3,726,718
56$3,914,762$3,364,862$3,214,193$3,971,155
57$4,260,357$3,476,030$3,268,158$4,236,702
58$4,639,511$3,590,953$3,322,239$4,525,408
59$5,055,594$3,709,762$3,376,386$4,839,523
60$5,512,317$3,832,593$3,430,548$5,181,530
61$6,013,769$3,959,586$3,484,666$5,554,156
62$6,564,453$4,090,886$3,538,683$5,960,407
63$7,169,332$4,226,644$3,592,533$6,403,591
64$7,833,871$4,367,016$3,646,150$6,887,349
65$8,564,090$4,512,164$3,699,461$7,415,693
66$9,366,624$4,662,257$3,752,389$7,993,037
67$10,248,779$4,817,467$3,804,853$8,624,245
68$11,218,607$4,977,975$3,856,769$9,314,670
69$12,284,977$5,143,969$3,908,043$10,070,210
70$13,457,663$5,315,641$3,958,581$10,897,359
71$14,747,431$5,493,194$4,008,279$11,803,271
72$16,166,143$5,676,835$4,057,031$12,795,823
73$17,726,870$5,866,780$4,104,722$13,883,693
74$19,444,012$6,063,253$4,151,231$15,076,440
75$21,333,436$6,266,488$4,196,432$16,384,592
76$23,412,625$6,476,724$4,240,191$17,819,748
77$25,700,841$6,694,211$4,282,365$19,394,684
78$28,219,309$6,919,210$4,322,807$21,123,475
79$30,991,415$7,151,988$4,361,358$23,021,625
80$34,042,930$7,392,826$4,397,853$25,106,217
81$37,402,246$7,642,011$4,432,119$27,396,068
82$41,100,650$7,899,846$4,463,970$29,911,911
83$45,172,619$8,166,640$4,493,215$32,676,589
84$49,656,138$8,442,718$4,519,651$35,715,265
85$54,593,068$8,728,415$4,543,063$39,055,668
86$60,029,533$9,024,080$4,563,228$42,728,346
87$66,016,359$9,330,073$4,579,909$46,766,956
88$72,609,551$9,646,769$4,592,859$51,208,583
89$79,870,823$9,974,559$4,601,818$56,094,089
90$87,868,181$10,313,847$4,606,513$61,468,495
91$96,676,561$10,665,051$4,606,657$67,381,407
92$106,378,540$11,028,607$4,601,949$73,887,486
93$117,065,110$11,404,969$4,592,074$81,046,959
94$128,836,544$11,794,605$4,576,701$88,926,188
95$141,803,334$12,198,003$4,555,483$97,598,298
96$156,087,239$12,615,669$4,528,056$107,143,863
97$171,822,430$13,048,130$4,494,039$117,651,667
98$189,156,762$13,495,932$4,453,033$129,219,543
99$208,253,161$13,959,643$4,404,619$141,955,293
100$229,291,169$14,439,851$4,348,359$155,977,705