Can I retire at age 54 with 3,100,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $3,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$255,995$253,715$251,490$249,319$247,198$240,152
2 years$126,730$124,370$122,083$119,865$117,714$110,669
3 years$83,648$81,277$78,996$76,799$74,682$67,861
4 years$62,110$59,747$57,489$55,329$53,264$46,717
5 years$49,192$46,843$44,613$42,498$40,490$34,237
6 years$40,582$38,251$36,054$33,986$32,039$26,084
7 years$34,434$32,123$29,961$27,942$26,056$20,400
8 years$29,826$27,535$25,410$23,440$21,616$16,256
9 years$26,243$23,974$21,885$19,965$18,204$13,134
10 years$23,379$21,132$19,080$17,210$15,511$10,724
11 years$21,037$18,813$16,798$14,978$13,340$8,829
12 years$19,087$16,885$14,908$13,138$11,560$7,316
13 years$17,438$15,259$13,319$11,599$10,080$6,095
14 years$16,026$13,870$11,967$10,296$8,836$5,098
15 years$14,803$12,671$10,805$9,182$7,780$4,280
16 years$13,734$11,625$9,796$8,222$6,876$3,603
17 years$12,792$10,706$8,914$7,387$6,097$3,041
18 years$11,956$9,893$8,137$6,657$5,421$2,571
19 years$11,208$9,169$7,449$6,015$4,832$2,178
20 years$10,536$8,520$6,837$5,448$4,316$1,847
21 years$9,929$7,936$6,288$4,945$3,862$1,568
22 years$9,377$7,408$5,796$4,496$3,462$1,333
23 years$8,875$6,929$5,351$4,094$3,108$1,134
24 years$8,415$6,492$4,949$3,734$2,793$965
25 years$7,992$6,092$4,584$3,410$2,514$822
26 years$7,603$5,726$4,251$3,118$2,264$701
27 years$7,243$5,389$3,948$2,854$2,041$597
28 years$6,909$5,078$3,670$2,615$1,842$509
29 years$6,599$4,790$3,415$2,398$1,663$435
30 years$6,310$4,524$3,181$2,201$1,503$371
31 years$6,041$4,276$2,966$2,021$1,359$317
32 years$5,788$4,046$2,767$1,858$1,229$270
33 years$5,552$3,832$2,584$1,708$1,112$231
34 years$5,329$3,632$2,414$1,572$1,007$197
35 years$5,120$3,445$2,257$1,447$912$168
36 years$4,924$3,270$2,111$1,333$826$144
37 years$4,738$3,105$1,976$1,228$749$123
38 years$4,562$2,951$1,850$1,132$679$105
39 years$4,396$2,806$1,734$1,043$616$90
40 years$4,238$2,670$1,625$962$559$77
41 years$4,089$2,542$1,524$888$507$65
42 years$3,947$2,420$1,429$819$460$56
43 years$3,812$2,306$1,341$756$417$48
44 years$3,683$2,198$1,259$698$379$41
45 years$3,561$2,096$1,182$645$344$35
46 years$3,444$2,000$1,110$596$312$30
47 years$3,333$1,908$1,043$550$283$25
48 years$3,226$1,822$980$509$257$22
49 years$3,124$1,740$921$470$234$19
50 years$3,027$1,662$866$435$212$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $3,100,000, adding $6,166 every year, while hoping to spend $34,043 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: 51/38/11 Blend
53$3,100,000$3,100,000$3,100,000$3,100,000
54$3,422,560$3,258,260$3,210,210$3,586,835
55$3,735,440$3,381,693$3,281,531$3,823,156
56$4,079,092$3,510,034$3,354,100$4,075,789
57$4,456,620$3,643,486$3,427,923$4,349,644
58$4,871,442$3,782,264$3,503,005$4,646,728
59$5,327,324$3,926,589$3,579,350$4,969,246
60$5,828,413$4,076,695$3,656,961$5,319,622
61$6,379,282$4,232,823$3,735,839$5,700,524
62$6,984,965$4,395,227$3,815,986$6,114,881
63$7,651,010$4,564,172$3,897,400$6,565,917
64$8,383,529$4,739,932$3,980,079$7,057,177
65$9,189,256$4,922,797$4,064,019$7,592,560
66$10,075,612$5,113,066$4,149,216$8,176,356
67$11,050,772$5,311,053$4,235,661$8,813,284
68$12,123,742$5,517,086$4,323,348$9,508,535
69$13,304,448$5,731,508$4,412,264$10,267,824
70$14,603,825$5,954,674$4,502,397$11,097,436
71$16,033,921$6,186,959$4,593,734$12,004,290
72$17,608,012$6,428,752$4,686,256$12,996,002
73$19,340,728$6,680,460$4,779,944$14,080,954
74$21,248,187$6,942,507$4,874,777$15,268,370
75$23,348,150$7,215,338$4,970,730$16,568,409
76$25,660,188$7,499,416$5,067,775$17,992,250
77$28,205,865$7,795,225$5,165,884$19,552,203
78$31,008,944$8,103,271$5,265,022$21,261,821
79$34,095,608$8,424,084$5,365,152$23,136,026
80$37,494,710$8,758,214$5,466,235$25,191,251
81$41,238,044$9,106,240$5,568,226$27,445,588
82$45,360,642$9,468,763$5,671,079$29,918,962
83$49,901,108$9,846,413$5,774,742$32,633,315
84$54,901,984$10,239,850$5,879,158$35,612,812
85$60,410,144$10,649,760$5,984,267$38,884,064
86$66,477,243$11,076,863$6,090,005$42,476,382
87$73,160,202$11,521,910$6,196,300$46,422,050
88$80,521,745$11,985,685$6,303,079$50,756,622
89$88,630,990$12,469,011$6,410,259$55,519,264
90$97,564,103$12,972,745$6,517,754$60,753,115
91$107,405,015$13,497,783$6,625,473$66,505,692
92$118,246,215$14,045,063$6,733,315$72,829,339
93$130,189,624$14,615,565$6,841,176$79,781,716
94$143,347,552$15,210,315$6,948,942$87,426,341
95$157,843,764$15,830,382$7,056,493$95,833,185
96$173,814,645$16,476,888$7,163,703$105,079,331
97$191,410,487$17,151,004$7,270,435$115,249,698
98$210,796,907$17,853,953$7,376,545$126,437,839
99$232,156,413$18,587,018$7,481,880$138,746,819
100$255,690,122$19,351,536$7,586,278$152,290,187