Can I retire at age 54 with 2,910,000?

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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$240,305$238,165$236,076$234,038$232,047$224,890
2 years$118,963$116,747$114,600$112,518$110,499$103,350
3 years$78,521$76,296$74,154$72,091$70,105$63,189
4 years$58,304$56,085$53,965$51,938$49,999$43,370
5 years$46,177$43,972$41,879$39,893$38,009$31,684
6 years$38,095$35,906$33,845$31,903$30,075$24,060
7 years$32,324$30,154$28,125$26,229$24,459$18,753
8 years$27,998$25,847$23,852$22,003$20,291$14,890
9 years$24,635$22,505$20,544$18,742$17,088$11,987
10 years$21,946$19,837$17,911$16,156$14,560$9,751
11 years$19,748$17,660$15,768$14,060$12,522$7,997
12 years$17,917$15,850$13,994$12,333$10,851$6,600
13 years$16,369$14,324$12,503$10,888$9,463$5,476
14 years$15,044$13,020$11,234$9,665$8,295$4,562
15 years$13,896$11,894$10,142$8,620$7,303$3,813
16 years$12,892$10,913$9,196$7,718$6,455$3,197
17 years$12,008$10,050$8,368$6,934$5,723$2,686
18 years$11,223$9,287$7,639$6,249$5,089$2,261
19 years$10,521$8,607$6,993$5,647$4,536$1,906
20 years$9,890$7,998$6,418$5,114$4,051$1,609
21 years$9,320$7,450$5,903$4,641$3,626$1,360
22 years$8,803$6,954$5,441$4,220$3,250$1,151
23 years$8,331$6,504$5,023$3,843$2,917$974
24 years$7,899$6,094$4,646$3,505$2,622$825
25 years$7,502$5,719$4,303$3,201$2,359$700
26 years$7,137$5,375$3,991$2,927$2,125$593
27 years$6,799$5,058$3,706$2,679$1,916$503
28 years$6,486$4,766$3,445$2,455$1,729$427
29 years$6,195$4,497$3,206$2,251$1,561$363
30 years$5,924$4,246$2,986$2,066$1,411$308
31 years$5,670$4,014$2,784$1,897$1,275$262
32 years$5,433$3,798$2,597$1,744$1,154$222
33 years$5,211$3,597$2,425$1,604$1,044$189
34 years$5,003$3,409$2,266$1,475$945$160
35 years$4,807$3,234$2,119$1,358$856$136
36 years$4,622$3,069$1,982$1,251$776$116
37 years$4,447$2,915$1,855$1,152$703$99
38 years$4,282$2,770$1,737$1,062$637$84
39 years$4,126$2,634$1,627$979$578$71
40 years$3,978$2,506$1,525$903$524$61
41 years$3,838$2,386$1,430$834$476$51
42 years$3,705$2,272$1,342$769$432$44
43 years$3,578$2,165$1,259$710$392$37
44 years$3,457$2,064$1,182$656$356$32
45 years$3,343$1,968$1,110$606$323$27
46 years$3,233$1,877$1,042$559$293$23
47 years$3,128$1,791$979$517$266$19
48 years$3,028$1,710$920$477$242$17
49 years$2,933$1,633$865$441$219$14
50 years$2,841$1,560$813$408$199$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,910,000, adding $6,816 every year, while hoping to spend $46,172 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: 40/30/30 Blend
53$2,910,000$2,910,000$2,910,000$2,910,000
54$3,213,851$3,059,621$3,014,516$3,313,718
55$3,492,537$3,160,415$3,066,375$3,488,043
56$3,798,101$3,264,602$3,118,425$3,671,763
57$4,133,237$3,372,297$3,170,622$3,869,670
58$4,500,911$3,483,622$3,222,921$4,083,098
59$4,904,388$3,598,705$3,275,273$4,313,511
60$5,347,269$3,717,674$3,327,628$4,562,519
61$5,833,516$3,840,666$3,379,929$4,831,897
62$6,367,496$3,967,820$3,432,118$5,123,595
63$6,954,020$4,099,283$3,484,133$5,439,759
64$7,598,386$4,235,203$3,535,908$5,782,752
65$8,306,431$4,375,738$3,587,371$6,155,175
66$9,084,587$4,521,049$3,638,447$6,559,890
67$9,939,939$4,671,304$3,689,059$7,000,049
68$10,880,290$4,826,676$3,739,120$7,479,120
69$11,914,242$4,987,345$3,788,543$8,000,924
70$13,051,268$5,153,498$3,837,232$8,569,666
71$14,301,806$5,325,329$3,885,088$9,189,978
72$15,677,358$5,503,037$3,932,006$9,866,959
73$17,190,594$5,686,831$3,977,874$10,606,227
74$18,855,475$5,876,927$4,022,574$11,413,966
75$20,687,385$6,073,548$4,065,981$12,296,990
76$22,703,272$6,276,926$4,107,966$13,262,802
77$24,921,812$6,487,301$4,148,388$14,319,667
78$27,363,581$6,704,923$4,187,104$15,476,689
79$30,051,252$6,930,050$4,223,958$16,743,896
80$33,009,809$7,162,951$4,258,789$18,132,334
81$36,266,778$7,403,904$4,291,427$19,654,174
82$39,852,492$7,653,198$4,321,692$21,322,820
83$43,800,373$7,911,132$4,349,396$23,153,042
84$48,147,251$8,178,017$4,374,340$25,161,110
85$52,933,706$8,454,175$4,396,316$27,364,950
86$58,204,455$8,739,942$4,415,105$29,784,309
87$64,008,774$9,035,663$4,430,475$32,440,947
88$70,400,959$9,341,700$4,442,185$35,358,837
89$77,440,840$9,658,427$4,449,982$38,564,390
90$85,194,346$9,986,231$4,453,597$42,086,707
91$93,734,129$10,325,515$4,452,752$45,957,855
92$103,140,243$10,676,698$4,447,152$50,213,161
93$113,500,905$11,040,214$4,436,489$54,891,553
94$124,913,327$11,416,514$4,420,441$60,035,923
95$137,484,628$11,806,065$4,398,667$65,693,534
96$151,332,851$12,209,353$4,370,814$71,916,460
97$166,588,074$12,626,884$4,336,508$78,762,085
98$183,393,637$13,059,180$4,295,361$86,293,636
99$201,907,495$13,506,787$4,246,962$94,580,785
100$222,303,710$13,970,270$4,190,885$103,700,305