Can I retire at age 54 with 3,000,000?

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 $3,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$247,737$245,530$243,378$241,276$239,224$232,218
2 years$122,642$120,358$118,144$115,998$113,916$106,914
3 years$80,949$78,655$76,447$74,321$72,273$65,495
4 years$60,107$57,820$55,634$53,544$51,546$45,043
5 years$47,605$45,332$43,174$41,127$39,184$32,975
6 years$39,273$37,017$34,891$32,890$31,005$25,095
7 years$33,324$31,087$28,995$27,040$25,216$19,605
8 years$28,864$26,647$24,590$22,684$20,919$15,604
9 years$25,397$23,201$21,179$19,321$17,617$12,592
10 years$22,625$20,450$18,465$16,655$15,010$10,269
11 years$20,359$18,206$16,256$14,495$12,909$8,443
12 years$18,471$16,341$14,427$12,714$11,187$6,987
13 years$16,875$14,767$12,889$11,225$9,755$5,813
14 years$15,509$13,423$11,581$9,964$8,551$4,856
15 years$14,326$12,262$10,456$8,886$7,529$4,071
16 years$13,291$11,250$9,480$7,957$6,654$3,422
17 years$12,379$10,361$8,626$7,149$5,900$2,884
18 years$11,570$9,574$7,875$6,443$5,246$2,435
19 years$10,846$8,873$7,209$5,821$4,676$2,059
20 years$10,196$8,245$6,616$5,272$4,177$1,744
21 years$9,608$7,680$6,086$4,785$3,738$1,478
22 years$9,075$7,169$5,609$4,351$3,350$1,254
23 years$8,589$6,705$5,179$3,962$3,007$1,065
24 years$8,143$6,282$4,789$3,614$2,703$906
25 years$7,734$5,896$4,436$3,300$2,432$770
26 years$7,358$5,541$4,114$3,018$2,191$655
27 years$7,009$5,215$3,820$2,762$1,975$558
28 years$6,686$4,914$3,551$2,531$1,782$475
29 years$6,386$4,636$3,305$2,321$1,610$404
30 years$6,107$4,378$3,078$2,130$1,454$345
31 years$5,846$4,139$2,870$1,956$1,315$294
32 years$5,601$3,916$2,678$1,798$1,189$250
33 years$5,373$3,708$2,500$1,653$1,076$213
34 years$5,158$3,515$2,336$1,521$975$182
35 years$4,955$3,334$2,184$1,400$883$155
36 years$4,765$3,164$2,043$1,290$800$132
37 years$4,585$3,005$1,912$1,188$725$113
38 years$4,415$2,856$1,791$1,095$657$96
39 years$4,254$2,716$1,678$1,010$596$82
40 years$4,101$2,584$1,573$931$541$70
41 years$3,957$2,460$1,475$859$490$60
42 years$3,819$2,342$1,383$793$445$51
43 years$3,689$2,232$1,298$732$404$43
44 years$3,564$2,127$1,218$676$367$37
45 years$3,446$2,029$1,144$624$333$32
46 years$3,333$1,935$1,074$577$302$27
47 years$3,225$1,847$1,009$533$274$23
48 years$3,122$1,763$949$492$249$20
49 years$3,023$1,684$892$455$226$17
50 years$2,929$1,608$838$421$206$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $3,000,000, adding $5,177 every year, while hoping to spend $59,943 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: 73/18/9 Blend
53$3,000,000$3,000,000$3,000,000$3,000,000
54$3,311,340$3,152,340$3,105,840$3,547,494
55$3,585,318$3,243,026$3,146,107$3,794,732
56$3,885,232$3,336,146$3,185,713$4,057,441
57$4,213,666$3,431,757$3,224,575$4,343,500
58$4,573,462$3,529,915$3,262,600$4,655,197
59$4,967,752$3,630,678$3,299,694$4,995,054
60$5,399,986$3,734,105$3,335,757$5,365,849
61$5,873,961$3,840,252$3,370,682$5,770,637
62$6,393,862$3,949,182$3,404,356$6,212,785
63$6,964,297$4,060,952$3,436,663$6,696,002
64$7,590,341$4,175,625$3,467,477$7,224,370
65$8,277,586$4,293,261$3,496,668$7,802,388
66$9,032,190$4,413,921$3,524,097$8,435,007
67$9,860,938$4,537,668$3,549,618$9,127,686
68$10,771,304$4,664,563$3,573,080$9,886,433
69$11,771,520$4,794,670$3,594,322$10,717,868
70$12,870,656$4,928,050$3,613,173$11,629,286
71$14,078,706$5,064,767$3,629,457$12,628,719
72$15,406,677$5,204,884$3,642,987$13,725,018
73$16,866,697$5,348,462$3,653,566$14,927,934
74$18,472,128$5,495,565$3,660,988$16,248,209
75$20,237,691$5,646,254$3,665,037$17,697,676
76$22,179,606$5,800,591$3,665,487$19,289,375
77$24,315,743$5,958,637$3,662,098$21,037,671
78$26,665,791$6,120,452$3,654,621$22,958,393
79$29,251,444$6,286,097$3,642,793$25,068,978
80$32,096,605$6,455,629$3,626,340$27,388,642
81$35,227,610$6,629,106$3,604,973$29,938,555
82$38,673,477$6,806,584$3,578,391$32,742,044
83$42,466,182$6,988,116$3,546,277$35,824,814
84$46,640,955$7,173,756$3,508,300$39,215,185
85$51,236,616$7,363,554$3,464,111$42,944,364
86$56,295,940$7,557,557$3,413,349$47,046,738
87$61,866,061$7,755,813$3,355,631$51,560,196
88$67,998,914$7,958,363$3,290,560$56,526,492
89$74,751,728$8,165,247$3,217,718$61,991,631
90$82,187,562$8,376,501$3,136,669$68,006,310
91$90,375,902$8,592,159$3,046,956$74,626,391
92$99,393,316$8,812,247$2,948,102$81,913,433
93$109,324,178$9,036,791$2,839,607$89,935,267
94$120,261,460$9,265,809$2,720,949$98,766,642
95$132,307,610$9,499,314$2,591,581$108,489,926
96$145,575,520$9,737,315$2,450,934$119,195,886
97$160,189,593$9,979,813$2,298,410$130,984,542
98$176,286,910$10,226,803$2,133,385$143,966,114
99$194,018,529$10,478,271$1,955,208$158,262,060
100$213,550,910$10,734,197$1,763,198$174,006,222