Can I retire at age 54 with 2,890,000?

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 $2,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$238,653$236,528$234,454$232,429$230,453$221,747
2 years$118,145$115,945$113,812$111,745$109,739$101,070
3 years$77,981$75,771$73,644$71,596$69,623$61,262
4 years$57,903$55,700$53,594$51,581$49,656$41,667
5 years$45,859$43,669$41,591$39,619$37,748$30,152
6 years$37,833$35,659$33,612$31,684$29,868$22,671
7 years$32,102$29,947$27,932$26,049$24,291$17,490
8 years$27,805$25,670$23,688$21,852$20,152$13,741
9 years$24,466$22,350$20,403$18,613$16,971$10,940
10 years$21,795$19,701$17,788$16,044$14,460$8,799
11 years$19,612$17,538$15,660$13,964$12,436$7,132
12 years$17,794$15,741$13,898$12,248$10,777$5,817
13 years$16,257$14,226$12,417$10,813$9,398$4,767
14 years$14,940$12,931$11,156$9,599$8,238$3,922
15 years$13,800$11,812$10,073$8,560$7,253$3,237
16 years$12,804$10,838$9,132$7,665$6,410$2,678
17 years$11,925$9,981$8,310$6,887$5,684$2,220
18 years$11,146$9,223$7,586$6,206$5,054$1,844
19 years$10,449$8,548$6,945$5,608$4,505$1,534
20 years$9,822$7,943$6,374$5,079$4,024$1,277
21 years$9,256$7,399$5,862$4,610$3,601$1,065
22 years$8,742$6,906$5,403$4,191$3,228$888
23 years$8,274$6,459$4,989$3,817$2,897$741
24 years$7,845$6,052$4,614$3,481$2,604$619
25 years$7,451$5,679$4,273$3,179$2,343$517
26 years$7,088$5,338$3,963$2,907$2,111$432
27 years$6,752$5,024$3,680$2,661$1,903$362
28 years$6,441$4,734$3,421$2,438$1,717$302
29 years$6,152$4,466$3,184$2,236$1,551$253
30 years$5,883$4,217$2,966$2,052$1,401$212
31 years$5,631$3,987$2,765$1,884$1,267$177
32 years$5,396$3,772$2,580$1,732$1,146$148
33 years$5,176$3,572$2,409$1,593$1,037$124
34 years$4,968$3,386$2,250$1,465$939$104
35 years$4,774$3,211$2,104$1,349$850$87
36 years$4,590$3,048$1,968$1,242$770$73
37 years$4,417$2,895$1,842$1,145$698$61
38 years$4,253$2,751$1,725$1,055$633$51
39 years$4,098$2,616$1,616$973$574$43
40 years$3,951$2,489$1,515$897$521$36
41 years$3,812$2,369$1,421$828$472$30
42 years$3,679$2,257$1,332$764$429$25
43 years$3,554$2,150$1,250$705$389$21
44 years$3,434$2,049$1,174$651$353$18
45 years$3,320$1,954$1,102$601$321$15
46 years$3,211$1,864$1,035$555$291$12
47 years$3,107$1,779$972$513$264$10
48 years$3,007$1,698$914$474$240$9
49 years$2,913$1,622$859$438$218$7
50 years$2,822$1,549$808$405$198$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,890,000, adding $5,551 every year, while hoping to spend $52,566 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: 73/8/19 Blend
53$2,890,000$2,890,000$2,890,000$2,890,000
54$3,190,506$3,037,336$2,992,541$3,408,673
55$3,460,008$3,130,235$3,036,861$3,647,200
56$3,755,237$3,225,925$3,080,904$3,901,528
57$4,078,762$3,324,487$3,124,606$4,178,798
58$4,433,412$3,426,003$3,167,897$4,481,279
59$4,822,303$3,530,560$3,210,704$4,811,471
60$5,248,867$3,638,246$3,252,951$5,172,126
61$5,716,883$3,749,152$3,294,556$5,566,277
62$6,230,514$3,863,369$3,335,433$5,997,264
63$6,794,346$3,980,994$3,375,490$6,468,767
64$7,413,432$4,102,125$3,414,631$6,984,840
65$8,093,335$4,226,863$3,452,755$7,549,946
66$8,840,186$4,355,310$3,489,753$8,169,006
67$9,660,737$4,487,573$3,525,512$8,847,438
68$10,562,429$4,623,760$3,559,913$9,591,214
69$11,553,457$4,763,984$3,592,830$10,406,910
70$12,642,850$4,908,360$3,624,130$11,301,776
71$13,840,555$5,057,004$3,653,673$12,283,795
72$15,157,533$5,210,038$3,681,313$13,361,766
73$16,605,857$5,367,586$3,706,893$14,545,383
74$18,198,832$5,529,775$3,730,251$15,845,326
75$19,951,114$5,696,736$3,751,215$17,273,364
76$21,878,853$5,868,601$3,769,606$18,842,465
77$23,999,842$6,045,509$3,785,234$20,566,917
78$26,333,686$6,227,599$3,797,900$22,462,465
79$28,901,988$6,415,017$3,807,395$24,546,458
80$31,728,547$6,607,909$3,813,499$26,838,012
81$34,839,590$6,806,427$3,815,983$29,358,193
82$38,264,013$7,010,727$3,814,603$32,130,213
83$42,033,657$7,220,968$3,809,107$35,179,650
84$46,183,606$7,437,312$3,799,229$38,534,690
85$50,752,520$7,659,926$3,784,688$42,226,391
86$55,782,995$7,888,980$3,765,194$46,288,980
87$61,321,971$8,124,651$3,740,438$50,760,172
88$67,421,170$8,367,116$3,710,101$55,681,527
89$74,137,584$8,616,560$3,673,844$61,098,842
90$81,534,015$8,873,169$3,631,315$67,062,587
91$89,679,666$9,137,135$3,582,145$73,628,376
92$98,650,792$9,408,655$3,525,948$80,857,495
93$108,531,423$9,687,930$3,462,317$88,817,480
94$119,414,153$9,975,163$3,390,830$97,582,753
95$131,401,016$10,270,566$3,311,042$107,235,328
96$144,604,448$10,574,351$3,222,490$117,865,582
97$159,148,346$10,886,739$3,124,688$129,573,110
98$175,169,241$11,207,953$3,017,128$142,467,663
99$192,817,581$11,538,220$2,899,280$156,670,189
100$212,259,157$11,877,775$2,770,588$172,313,967