Can I retire at age 54 with 2,060,000?

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$170,113$168,598$167,119$165,676$164,267$159,778
2 years$84,214$82,646$81,126$79,652$78,223$73,732
3 years$55,585$54,010$52,494$51,034$49,628$45,277
4 years$41,273$39,703$38,202$36,767$35,395$31,218
5 years$32,689$31,128$29,646$28,241$26,907$22,914
6 years$26,967$25,418$23,959$22,584$21,290$17,486
7 years$22,882$21,346$19,910$18,568$17,315$13,699
8 years$19,820$18,298$16,885$15,576$14,364$10,935
9 years$17,439$15,931$14,543$13,267$12,097$8,851
10 years$15,536$14,043$12,679$11,437$10,307$7,241
11 years$13,980$12,501$11,162$9,953$8,864$5,973
12 years$12,684$11,221$9,906$8,730$7,682$4,959
13 years$11,588$10,140$8,851$7,708$6,699$4,139
14 years$10,649$9,217$7,952$6,842$5,872$3,470
15 years$9,837$8,420$7,180$6,102$5,170$2,919
16 years$9,127$7,725$6,510$5,463$4,569$2,463
17 years$8,501$7,115$5,924$4,909$4,052$2,083
18 years$7,945$6,574$5,407$4,424$3,602$1,765
19 years$7,448$6,093$4,950$3,997$3,211$1,498
20 years$7,001$5,662$4,543$3,620$2,868$1,274
21 years$6,598$5,274$4,179$3,286$2,567$1,084
22 years$6,231$4,923$3,851$2,987$2,301$924
23 years$5,897$4,604$3,556$2,721$2,065$787
24 years$5,592$4,314$3,289$2,481$1,856$672
25 years$5,311$4,048$3,046$2,266$1,670$574
26 years$5,052$3,805$2,825$2,072$1,505$490
27 years$4,813$3,581$2,623$1,897$1,356$419
28 years$4,591$3,374$2,439$1,738$1,224$358
29 years$4,385$3,183$2,269$1,594$1,105$306
30 years$4,193$3,006$2,114$1,462$999$262
31 years$4,014$2,842$1,971$1,343$903$224
32 years$3,846$2,689$1,839$1,234$817$192
33 years$3,689$2,546$1,717$1,135$739$164
34 years$3,542$2,413$1,604$1,044$669$141
35 years$3,403$2,289$1,500$961$606$120
36 years$3,272$2,173$1,403$885$549$103
37 years$3,148$2,064$1,313$816$498$88
38 years$3,032$1,961$1,230$752$451$76
39 years$2,921$1,865$1,152$693$409$65
40 years$2,816$1,774$1,080$640$371$56
41 years$2,717$1,689$1,013$590$337$48
42 years$2,623$1,608$950$545$306$41
43 years$2,533$1,533$891$503$277$35
44 years$2,448$1,461$837$464$252$30
45 years$2,366$1,393$786$429$228$26
46 years$2,289$1,329$738$396$207$22
47 years$2,215$1,268$693$366$188$19
48 years$2,144$1,211$651$338$171$16
49 years$2,076$1,156$612$312$155$14
50 years$2,011$1,104$576$289$141$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,060,000, adding $6,186 every year, while hoping to spend $41,028 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: 72/18/10 Blend
53$2,060,000$2,060,000$2,060,000$2,060,000
54$2,276,501$2,167,321$2,135,391$2,435,647
55$2,465,050$2,229,866$2,163,273$2,604,224
56$2,671,457$2,294,101$2,190,714$2,783,078
57$2,897,499$2,360,065$2,217,656$2,977,790
58$3,145,134$2,427,798$2,244,037$3,189,914
59$3,416,518$2,497,341$2,269,794$3,421,164
60$3,714,027$2,568,735$2,294,856$3,673,423
61$4,040,276$2,642,021$2,319,152$3,948,769
62$4,398,146$2,717,242$2,342,605$4,249,486
63$4,790,811$2,794,441$2,365,136$4,578,093
64$5,221,765$2,873,659$2,386,659$4,937,363
65$5,694,858$2,954,942$2,407,086$5,330,349
66$6,214,332$3,038,333$2,426,322$5,760,414
67$6,784,858$3,123,875$2,444,267$6,231,265
68$7,411,582$3,211,614$2,460,820$6,746,981
69$8,100,175$3,301,594$2,475,868$7,312,060
70$8,856,881$3,393,861$2,489,298$7,931,452
71$9,688,582$3,488,459$2,500,988$8,610,614
72$10,602,857$3,585,433$2,510,812$9,355,557
73$11,608,059$3,684,830$2,518,634$10,172,900
74$12,713,388$3,786,694$2,524,316$11,069,939
75$13,928,983$3,891,071$2,527,709$12,054,712
76$15,266,010$3,998,005$2,528,659$13,136,071
77$16,736,778$4,107,541$2,527,003$14,323,774
78$18,354,843$4,219,724$2,522,571$15,628,569
79$20,135,144$4,334,598$2,515,185$17,062,299
80$22,094,142$4,452,206$2,504,657$18,638,012
81$24,249,971$4,572,592$2,490,790$20,370,087
82$26,622,615$4,695,796$2,473,378$22,274,366
83$29,234,092$4,821,860$2,452,207$24,368,303
84$32,108,663$4,950,825$2,427,049$26,671,134
85$35,273,060$5,082,728$2,397,668$29,204,052
86$38,756,739$5,217,608$2,363,817$31,990,410
87$42,592,156$5,355,501$2,325,235$35,055,941
88$46,815,076$5,496,441$2,281,650$38,429,001
89$51,464,908$5,640,461$2,232,779$42,140,833
90$56,585,075$5,787,590$2,178,324$46,225,870
91$62,223,428$5,937,857$2,117,973$50,722,049
92$68,432,693$6,091,287$2,051,401$55,671,178
93$75,270,971$6,247,904$1,978,266$61,119,326
94$82,802,285$6,407,726$1,898,213$67,117,259
95$91,097,183$6,570,770$1,810,869$73,720,917
96$100,233,407$6,737,049$1,715,844$80,991,945
97$110,296,622$6,906,571$1,612,732$88,998,275
98$121,381,226$7,079,342$1,501,106$97,814,762
99$133,591,241$7,255,360$1,380,524$107,523,897
100$147,041,296$7,434,620$1,250,519$118,216,581