Can I retire at age 54 with 2,920,000?

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$241,131$238,983$236,887$234,842$232,845$230,509
2 years$119,372$117,149$114,994$112,905$110,879$108,526
3 years$78,791$76,558$74,409$72,339$70,346$68,049
4 years$58,504$56,278$54,150$52,116$50,171$47,949
5 years$46,335$44,123$42,023$40,030$38,139$35,997
6 years$38,225$36,030$33,961$32,013$30,178$28,119
7 years$32,435$30,258$28,222$26,319$24,543$22,568
8 years$28,094$25,936$23,934$22,079$20,361$18,469
9 years$24,720$22,582$20,614$18,806$17,147$15,338
10 years$22,022$19,905$17,972$16,211$14,610$12,884
11 years$19,816$17,720$15,822$14,108$12,565$10,919
12 years$17,979$15,905$14,042$12,375$10,889$9,322
13 years$16,425$14,373$12,546$10,925$9,495$8,005
14 years$15,095$13,065$11,272$9,698$8,323$6,909
15 years$13,944$11,935$10,177$8,649$7,329$5,987
16 years$12,937$10,950$9,227$7,744$6,477$5,206
17 years$12,049$10,085$8,396$6,958$5,743$4,541
18 years$11,261$9,319$7,665$6,271$5,106$3,970
19 years$10,557$8,637$7,017$5,666$4,551$3,479
20 years$9,924$8,025$6,440$5,132$4,065$3,054
21 years$9,352$7,475$5,923$4,657$3,638$2,685
22 years$8,833$6,978$5,459$4,235$3,261$2,365
23 years$8,360$6,526$5,041$3,857$2,927$2,085
24 years$7,926$6,115$4,662$3,517$2,631$1,840
25 years$7,528$5,738$4,318$3,212$2,368$1,625
26 years$7,161$5,393$4,004$2,937$2,133$1,437
27 years$6,822$5,076$3,718$2,688$1,923$1,272
28 years$6,508$4,783$3,457$2,463$1,735$1,126
29 years$6,216$4,512$3,217$2,259$1,567$997
30 years$5,944$4,261$2,996$2,073$1,416$884
31 years$5,690$4,028$2,793$1,904$1,280$784
32 years$5,452$3,811$2,606$1,750$1,158$695
33 years$5,229$3,609$2,434$1,609$1,048$617
34 years$5,020$3,421$2,274$1,480$949$547
35 years$4,823$3,245$2,126$1,363$859$486
36 years$4,638$3,080$1,989$1,255$778$432
37 years$4,463$2,925$1,861$1,156$706$383
38 years$4,297$2,780$1,743$1,066$640$341
39 years$4,140$2,643$1,633$983$580$303
40 years$3,992$2,515$1,531$907$526$269
41 years$3,851$2,394$1,435$836$477$239
42 years$3,718$2,280$1,346$772$433$212
43 years$3,590$2,172$1,263$713$393$189
44 years$3,469$2,071$1,186$658$357$168
45 years$3,354$1,975$1,113$608$324$149
46 years$3,244$1,884$1,046$561$294$133
47 years$3,139$1,798$983$519$267$118
48 years$3,039$1,716$923$479$243$105
49 years$2,943$1,639$868$443$220$93
50 years$2,851$1,565$816$409$200$83

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,920,000, adding $3,284 every year, while hoping to spend $52,577 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: 57/26/17 Blend
53$2,920,000$2,920,000$2,920,000$2,920,000
54$3,221,227$3,066,467$3,021,207$3,390,282
55$3,493,851$3,160,783$3,066,476$3,599,748
56$3,792,520$3,257,958$3,111,500$3,821,903
57$4,119,836$3,358,076$3,156,214$4,062,804
58$4,478,663$3,461,226$3,200,550$4,324,264
59$4,872,156$3,567,495$3,244,439$4,608,276
60$5,303,791$3,676,977$3,287,802$4,917,035
61$5,777,395$3,789,766$3,330,561$5,252,956
62$6,297,184$3,905,960$3,372,629$5,618,701
63$6,867,802$4,025,657$3,413,917$6,017,197
64$7,494,364$4,148,961$3,454,330$6,451,669
65$8,182,507$4,275,977$3,493,767$6,925,668
66$8,938,436$4,406,814$3,532,123$7,443,106
67$9,768,993$4,541,584$3,569,285$8,008,287
68$10,681,709$4,680,400$3,605,135$8,625,956
69$11,684,885$4,823,382$3,639,549$9,301,336
70$12,787,665$4,970,649$3,672,395$10,040,181
71$14,000,122$5,122,326$3,703,536$10,848,829
72$15,333,356$5,278,541$3,732,825$11,734,260
73$16,799,594$5,439,426$3,760,111$12,704,165
74$18,412,309$5,605,114$3,785,231$13,767,014
75$20,186,344$5,775,744$3,808,015$14,932,141
76$22,138,054$5,951,458$3,828,287$16,209,825
77$24,285,458$6,132,402$3,845,857$17,611,392
78$26,648,411$6,318,727$3,860,530$19,149,321
79$29,248,790$6,510,585$3,872,098$20,837,358
80$32,110,698$6,708,135$3,880,345$22,690,649
81$35,260,694$6,911,538$3,885,041$24,725,882
82$38,728,042$7,120,962$3,885,948$26,961,442
83$42,544,990$7,336,576$3,882,814$29,417,587
84$46,747,066$7,558,555$3,875,376$32,116,637
85$51,373,423$7,787,081$3,863,357$35,083,184
86$56,467,200$8,022,335$3,846,467$38,344,327
87$62,075,933$8,264,509$3,824,403$41,929,924
88$68,252,003$8,513,795$3,796,846$45,872,873
89$75,053,129$8,770,392$3,763,461$50,209,426
90$82,542,911$9,034,504$3,723,900$54,979,529
91$90,791,433$9,306,340$3,677,796$60,227,196
92$99,875,923$9,586,114$3,624,766$66,000,927
93$109,881,479$9,874,046$3,564,408$72,354,168
94$120,901,875$10,170,360$3,496,301$79,345,809
95$133,040,446$10,475,287$3,420,006$87,040,744
96$146,411,057$10,789,062$3,335,063$95,510,482
97$161,139,187$11,111,927$3,240,989$104,833,820
98$177,363,103$11,444,131$3,137,281$115,097,592
99$195,235,171$11,785,925$3,023,412$126,397,480
100$214,923,294$12,137,570$2,898,831$138,838,924