Can I retire at age 54 with 7,200,000?

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 $7,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$594,569$589,273$584,106$579,063$574,138$566,494
2 years$294,341$288,859$283,547$278,396$273,399$265,710
3 years$194,278$188,773$183,473$178,371$173,456$165,961
4 years$144,257$138,768$133,522$128,506$123,710$116,467
5 years$114,251$108,796$103,618$98,705$94,042$87,072
6 years$94,255$88,840$83,739$78,935$74,413$67,723
7 years$79,977$74,608$69,587$64,897$60,517$54,112
8 years$69,273$63,953$59,016$54,440$50,205$44,082
9 years$60,953$55,682$50,830$46,371$42,280$36,437
10 years$54,300$49,081$44,315$39,972$36,025$30,458
11 years$48,860$43,694$39,014$34,788$30,982$25,686
12 years$44,331$39,217$34,624$30,514$26,849$21,817
13 years$40,501$35,441$30,934$26,939$23,413$18,639
14 years$37,221$32,215$27,795$23,913$20,523$16,000
15 years$34,381$29,429$25,095$21,327$18,070$13,790
16 years$31,899$27,000$22,752$19,096$15,971$11,926
17 years$29,711$24,866$20,704$17,157$14,161$10,343
18 years$27,768$22,978$18,900$15,462$12,591$8,992
19 years$26,031$21,296$17,302$13,971$11,223$7,833
20 years$24,471$19,789$15,879$12,654$10,024$6,837
21 years$23,060$18,433$14,605$11,484$8,971$5,976
22 years$21,780$17,206$13,461$10,442$8,041$5,230
23 years$20,613$16,092$12,429$9,509$7,218$4,583
24 years$19,544$15,078$11,495$8,673$6,488$4,020
25 years$18,563$14,150$10,646$7,921$5,838$3,529
26 years$17,658$13,298$9,874$7,242$5,259$3,100
27 years$16,822$12,515$9,169$6,629$4,741$2,726
28 years$16,047$11,793$8,524$6,074$4,278$2,398
29 years$15,327$11,125$7,932$5,570$3,863$2,110
30 years$14,656$10,507$7,388$5,112$3,490$1,858
31 years$14,030$9,932$6,888$4,695$3,156$1,637
32 years$13,444$9,398$6,427$4,314$2,854$1,442
33 years$12,894$8,900$6,000$3,968$2,583$1,271
34 years$12,378$8,435$5,606$3,650$2,339$1,121
35 years$11,893$8,001$5,242$3,360$2,118$988
36 years$11,435$7,594$4,903$3,095$1,919$872
37 years$11,004$7,212$4,590$2,852$1,740$769
38 years$10,596$6,854$4,298$2,628$1,577$678
39 years$10,209$6,518$4,027$2,423$1,430$599
40 years$9,844$6,201$3,774$2,235$1,297$528
41 years$9,496$5,903$3,539$2,062$1,177$466
42 years$9,167$5,622$3,320$1,903$1,068$412
43 years$8,853$5,356$3,115$1,757$969$363
44 years$8,555$5,106$2,924$1,622$880$321
45 years$8,270$4,869$2,746$1,498$799$283
46 years$7,999$4,645$2,579$1,384$725$250
47 years$7,740$4,432$2,423$1,279$658$221
48 years$7,493$4,231$2,277$1,181$598$195
49 years$7,256$4,041$2,140$1,092$543$172
50 years$7,030$3,860$2,012$1,009$493$152

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $7,200,000, adding $3,370 every year, while hoping to spend $36,468 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: 65/19/16 Blend
53$7,200,000$7,200,000$7,200,000$7,200,000
54$7,937,876$7,556,276$7,444,676$8,422,712
55$8,708,738$7,887,732$7,655,271$9,079,190
56$9,557,005$8,234,207$7,871,699$9,791,747
57$10,490,535$8,596,398$8,094,116$10,569,504
58$11,517,984$8,975,037$8,322,684$11,418,834
59$12,648,892$9,370,887$8,557,567$12,346,749
60$13,893,769$9,784,750$8,798,935$13,360,966
61$15,264,196$10,217,465$9,046,962$14,469,977
62$16,772,934$10,669,912$9,301,826$15,683,126
63$18,434,045$11,143,009$9,563,708$17,010,701
64$20,263,023$11,637,721$9,832,798$18,464,022
65$22,276,941$12,155,059$10,109,286$20,055,553
66$24,494,611$12,696,080$10,393,370$21,799,012
67$26,936,765$13,261,891$10,685,251$23,709,504
68$29,626,245$13,853,654$10,985,137$25,803,656
69$32,588,223$14,472,584$11,293,240$28,099,775
70$35,850,436$15,119,955$11,609,778$30,618,021
71$39,443,449$15,797,101$11,934,974$33,380,590
72$43,400,941$16,505,419$12,269,055$36,411,923
73$47,760,026$17,246,374$12,612,258$39,738,935
74$52,561,603$18,021,500$12,964,823$43,391,268
75$57,850,736$18,832,403$13,326,994$47,401,563
76$63,677,089$19,680,769$13,699,026$51,805,770
77$70,095,385$20,568,360$14,081,177$56,643,483
78$77,165,930$21,497,024$14,473,711$61,958,312
79$84,955,175$22,468,699$14,876,901$67,798,286
80$93,536,351$23,485,413$15,291,025$74,216,312
81$102,990,152$24,549,292$15,716,368$81,270,661
82$113,405,504$25,662,564$16,153,223$89,025,524
83$124,880,398$26,827,562$16,601,889$97,551,606
84$137,522,819$28,046,733$17,062,672$106,926,796
85$151,451,762$29,322,638$17,535,886$117,236,892
86$166,798,357$30,657,963$18,021,855$128,576,413
87$183,707,109$32,055,523$18,520,907$141,049,482
88$202,337,257$33,518,266$19,033,379$154,770,805
89$222,864,278$35,049,281$19,559,618$169,866,751
90$245,481,546$36,651,808$20,099,977$186,476,538
91$270,402,157$38,329,240$20,654,820$204,753,543
92$297,860,938$40,085,134$21,224,517$224,866,741
93$328,116,663$41,923,215$21,809,448$247,002,302
94$361,454,501$43,847,390$22,410,002$271,365,331
95$398,188,701$45,861,754$23,026,579$298,181,810
96$438,665,563$47,970,595$23,659,584$327,700,716
97$483,266,707$50,178,410$24,309,436$360,196,367
98$532,412,670$52,489,911$24,976,561$395,971,006
99$586,566,884$54,910,038$25,661,398$435,357,645
100$646,240,043$57,443,967$26,364,392$478,723,201