Can I retire at age 54 with 2,120,000?

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$175,068$173,508$171,987$170,502$169,052$164,299
2 years$86,667$85,053$83,489$81,972$80,501$75,749
3 years$57,204$55,583$54,023$52,520$51,073$46,470
4 years$42,476$40,859$39,315$37,838$36,426$32,008
5 years$33,641$32,034$30,510$29,063$27,690$23,469
6 years$27,753$26,158$24,656$23,242$21,910$17,890
7 years$23,549$21,968$20,490$19,109$17,819$14,000
8 years$20,397$18,830$17,377$16,030$14,783$11,162
9 years$17,947$16,395$14,967$13,654$12,449$9,024
10 years$15,988$14,452$13,048$11,770$10,607$7,373
11 years$14,387$12,865$11,488$10,243$9,123$6,074
12 years$13,053$11,547$10,195$8,985$7,905$5,037
13 years$11,925$10,435$9,108$7,932$6,894$4,198
14 years$10,960$9,486$8,184$7,041$6,043$3,515
15 years$10,123$8,665$7,389$6,280$5,321$2,952
16 years$9,392$7,950$6,699$5,623$4,702$2,487
17 years$8,748$7,322$6,096$5,052$4,170$2,101
18 years$8,176$6,766$5,565$4,553$3,707$1,777
19 years$7,665$6,270$5,094$4,114$3,304$1,507
20 years$7,205$5,827$4,675$3,726$2,952$1,279
21 years$6,790$5,427$4,300$3,381$2,641$1,087
22 years$6,413$5,066$3,964$3,075$2,368$924
23 years$6,069$4,738$3,660$2,800$2,125$787
24 years$5,755$4,440$3,385$2,554$1,910$670
25 years$5,466$4,166$3,135$2,332$1,719$571
26 years$5,199$3,916$2,907$2,132$1,548$487
27 years$4,953$3,685$2,700$1,952$1,396$416
28 years$4,725$3,472$2,510$1,788$1,260$355
29 years$4,513$3,276$2,336$1,640$1,137$303
30 years$4,315$3,094$2,175$1,505$1,028$259
31 years$4,131$2,925$2,028$1,382$929$221
32 years$3,958$2,767$1,892$1,270$840$189
33 years$3,797$2,621$1,767$1,168$761$161
34 years$3,645$2,484$1,651$1,075$689$138
35 years$3,502$2,356$1,543$989$624$118
36 years$3,367$2,236$1,444$911$565$101
37 years$3,240$2,124$1,351$840$512$86
38 years$3,120$2,018$1,266$774$464$74
39 years$3,006$1,919$1,186$714$421$63
40 years$2,898$1,826$1,111$658$382$54
41 years$2,796$1,738$1,042$607$347$46
42 years$2,699$1,655$977$560$314$39
43 years$2,607$1,577$917$517$285$34
44 years$2,519$1,503$861$478$259$29
45 years$2,435$1,434$808$441$235$25
46 years$2,355$1,368$759$407$214$21
47 years$2,279$1,305$713$376$194$18
48 years$2,206$1,246$670$348$176$15
49 years$2,137$1,190$630$321$160$13
50 years$2,070$1,137$592$297$145$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,120,000, adding $3,179 every year, while hoping to spend $26,618 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: 66/22/12 Blend
53$2,120,000$2,120,000$2,120,000$2,120,000
54$2,339,519$2,227,159$2,194,299$2,487,431
55$2,549,829$2,307,969$2,239,487$2,667,241
56$2,780,698$2,391,846$2,285,296$2,860,269
57$3,034,195$2,478,912$2,331,720$3,070,569
58$3,312,600$2,569,296$2,378,750$3,299,828
59$3,618,424$2,663,130$2,426,376$3,549,901
60$3,954,431$2,760,551$2,474,587$3,822,831
61$4,323,669$2,861,704$2,523,372$4,120,865
62$4,729,495$2,966,739$2,572,717$4,446,478
63$5,175,607$3,075,813$2,622,606$4,802,395
64$5,666,078$3,189,088$2,673,023$5,191,613
65$6,205,399$3,306,734$2,723,950$5,617,434
66$6,798,514$3,428,927$2,775,367$6,083,495
67$7,450,871$3,555,854$2,827,251$6,593,798
68$8,168,475$3,687,706$2,879,578$7,152,750
69$8,957,939$3,824,683$2,932,324$7,765,206
70$9,826,551$3,966,995$2,985,459$8,436,510
71$10,782,342$4,114,860$3,038,954$9,172,551
72$11,834,157$4,268,505$3,092,776$9,979,811
73$12,991,746$4,428,166$3,146,889$10,865,431
74$14,265,850$4,594,093$3,201,256$11,837,275
75$15,668,305$4,766,541$3,255,835$12,904,007
76$17,212,151$4,945,780$3,310,585$14,075,168
77$18,911,758$5,132,092$3,365,457$15,361,269
78$20,782,960$5,325,767$3,420,403$16,773,888
79$22,843,205$5,527,112$3,475,369$18,325,778
80$25,111,716$5,736,445$3,530,298$20,030,987
81$27,609,678$5,954,098$3,585,130$21,904,995
82$30,360,434$6,180,417$3,639,801$23,964,849
83$33,389,707$6,415,766$3,694,242$26,229,334
84$36,725,839$6,660,520$3,748,382$28,719,143
85$40,400,063$6,915,075$3,802,141$31,457,074
86$44,446,797$7,179,841$3,855,440$34,468,242
87$48,903,964$7,455,246$3,908,191$37,780,321
88$53,813,355$7,741,740$3,960,302$41,423,797
89$59,221,021$8,039,790$4,011,677$45,432,260
90$65,177,709$8,349,883$4,062,211$49,842,719
91$71,739,337$8,672,529$4,111,797$54,695,949
92$78,967,527$9,008,261$4,160,320$60,036,878
93$86,930,181$9,357,632$4,207,657$65,915,005
94$95,702,127$9,721,224$4,253,682$72,384,873
95$105,365,822$10,099,641$4,298,257$79,506,576
96$116,012,128$10,493,516$4,341,242$87,346,330
97$127,741,176$10,903,510$4,382,484$95,977,096
98$140,663,306$11,330,311$4,421,827$105,479,265
99$154,900,106$11,774,640$4,459,102$115,941,418
100$170,585,569$12,237,249$4,494,133$127,461,161