Can I retire at age 54 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$693,664$687,485$681,457$675,573$669,828$651,259
2 years$343,398$337,003$330,804$324,795$318,966$300,396
3 years$226,658$220,235$214,052$208,099$202,365$184,376
4 years$168,299$161,896$155,775$149,924$144,328$127,059
5 years$133,293$126,928$120,888$115,156$109,716$93,213
6 years$109,964$103,647$97,695$92,091$86,815$71,094
7 years$93,306$87,042$81,185$75,713$70,604$55,666
8 years$80,819$74,611$68,852$63,514$58,572$44,409
9 years$71,111$64,963$59,302$54,100$49,326$35,924
10 years$63,350$57,261$51,701$46,634$42,029$29,370
11 years$57,004$50,976$45,517$40,586$36,146$24,211
12 years$51,719$45,754$40,395$35,599$31,323$20,089
13 years$47,251$41,348$36,090$31,429$27,315$16,757
14 years$43,425$37,584$32,427$27,899$23,944$14,037
15 years$40,111$34,334$29,277$24,881$21,082$11,801
16 years$37,215$31,501$26,544$22,278$18,632$9,949
17 years$34,662$29,011$24,154$20,017$16,521$8,408
18 years$32,396$26,807$22,050$18,039$14,689$7,120
19 years$30,370$24,845$20,185$16,300$13,093$6,039
20 years$28,549$23,087$18,525$14,763$11,695$5,130
21 years$26,904$21,505$17,040$13,398$10,466$4,363
22 years$25,410$20,074$15,705$12,182$9,381$3,714
23 years$24,048$18,775$14,500$11,094$8,421$3,164
24 years$22,802$17,591$13,410$10,119$7,569$2,698
25 years$21,656$16,508$12,421$9,241$6,811$2,302
26 years$20,601$15,515$11,520$8,449$6,135$1,965
27 years$19,626$14,601$10,697$7,734$5,531$1,678
28 years$18,722$13,759$9,944$7,086$4,991$1,433
29 years$17,882$12,980$9,254$6,498$4,507$1,225
30 years$17,099$12,258$8,620$5,964$4,072$1,047
31 years$16,368$11,588$8,036$5,477$3,682$895
32 years$15,684$10,964$7,498$5,034$3,330$765
33 years$15,043$10,383$7,001$4,629$3,014$655
34 years$14,441$9,841$6,541$4,259$2,729$560
35 years$13,875$9,334$6,115$3,921$2,471$479
36 years$13,341$8,860$5,721$3,611$2,239$410
37 years$12,837$8,415$5,354$3,327$2,030$351
38 years$12,361$7,997$5,014$3,066$1,840$300
39 years$11,911$7,604$4,698$2,827$1,669$257
40 years$11,484$7,235$4,403$2,608$1,513$220
41 years$11,079$6,887$4,129$2,406$1,373$188
42 years$10,694$6,559$3,873$2,221$1,246$161
43 years$10,329$6,249$3,634$2,050$1,131$138
44 years$9,980$5,957$3,411$1,893$1,026$118
45 years$9,649$5,680$3,203$1,748$932$101
46 years$9,332$5,419$3,009$1,615$846$87
47 years$9,030$5,171$2,826$1,492$768$74
48 years$8,741$4,937$2,656$1,378$698$63
49 years$8,465$4,714$2,497$1,274$634$54
50 years$8,201$4,503$2,347$1,177$575$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $8,400,000, adding $3,984 every year, while hoping to spend $34,895 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: 70/25/5 Blend
53$8,400,000$8,400,000$8,400,000$8,400,000
54$9,260,909$8,815,709$8,685,509$9,904,258
55$10,168,394$9,210,551$8,939,346$10,724,475
56$11,167,273$9,623,571$9,200,517$11,616,920
57$12,266,831$10,055,622$9,469,230$12,592,413
58$13,477,299$10,507,599$9,745,701$13,659,092
59$14,809,952$10,980,439$10,030,150$14,825,912
60$16,277,211$11,475,125$10,322,804$16,102,723
61$17,892,765$11,992,685$10,623,897$17,500,366
62$19,671,697$12,534,196$10,933,667$19,030,773
63$21,630,627$13,100,788$11,252,361$20,707,073
64$23,787,868$13,693,644$11,580,233$22,543,716
65$26,163,602$14,314,005$11,917,542$24,556,610
66$28,780,067$14,963,168$12,264,557$26,763,261
67$31,661,765$15,642,495$12,621,551$29,182,945
68$34,835,700$16,353,412$12,988,808$31,836,879
69$38,331,626$17,097,414$13,366,618$34,748,424
70$42,182,332$17,876,066$13,755,279$37,943,297
71$46,423,946$18,691,010$14,155,098$41,449,818
72$51,096,285$19,543,966$14,566,390$45,299,165
73$56,243,220$20,436,735$14,989,478$49,525,671
74$61,913,099$21,371,205$15,424,696$54,167,145
75$68,159,198$22,349,357$15,872,386$59,265,220
76$75,040,224$23,373,263$16,332,898$64,865,745
77$82,620,871$24,445,097$16,806,595$71,019,215
78$90,972,430$25,567,137$17,293,846$77,781,239
79$100,173,462$26,741,771$17,795,034$85,213,065
80$110,310,537$27,971,500$18,310,550$93,382,150
81$121,479,054$29,258,945$18,840,795$102,362,794
82$133,784,141$30,606,857$19,386,185$112,236,834
83$147,341,644$32,018,114$19,947,143$123,094,413
84$162,279,226$33,495,735$20,524,106$135,034,822
85$178,737,566$35,042,885$21,117,523$148,167,435
86$196,871,691$36,662,880$21,727,854$162,612,735
87$216,852,438$38,359,196$22,355,572$178,503,441
88$238,868,066$40,135,476$23,001,163$195,985,756
89$263,126,034$41,995,540$23,665,127$215,220,742
90$289,854,957$43,943,389$24,347,976$236,385,829
91$319,306,768$45,983,220$25,050,238$259,676,487
92$351,759,091$48,119,431$25,772,454$285,308,055
93$387,517,867$50,356,631$26,515,180$313,517,776
94$426,920,238$52,699,654$27,278,987$344,567,016
95$470,337,730$55,153,565$28,064,461$378,743,732
96$518,179,762$57,723,674$28,872,204$416,365,172
97$570,897,511$60,415,547$29,702,836$457,780,865
98$628,988,167$63,235,019$30,556,991$503,375,910
99$692,999,633$66,188,208$31,435,323$553,574,595
100$763,535,690$69,281,525$32,338,501$608,844,394