Can I retire at age 54 with 3,400,000?

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 $3,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$280,769$278,268$275,828$273,446$271,121$269,751
2 years$138,994$136,406$133,897$131,465$129,105$127,723
3 years$91,743$89,143$86,640$84,231$81,910$80,558
4 years$68,121$65,529$63,052$60,683$58,419$57,107
5 years$53,952$51,376$48,931$46,611$44,409$43,142
6 years$44,509$41,952$39,543$37,275$35,139$33,919
7 years$37,767$35,231$32,861$30,646$28,578$27,404
8 years$32,712$30,200$27,869$25,708$23,708$22,581
9 years$28,783$26,294$24,003$21,897$19,965$18,885
10 years$25,642$23,177$20,926$18,876$17,012$15,977
11 years$23,073$20,633$18,423$16,428$14,631$13,641
12 years$20,934$18,519$16,350$14,409$12,679$11,734
13 years$19,126$16,736$14,608$12,721$11,056$10,155
14 years$17,577$15,213$13,125$11,292$9,692$8,833
15 years$16,236$13,897$11,850$10,071$8,533$7,716
16 years$15,063$12,750$10,744$9,017$7,542$6,765
17 years$14,030$11,742$9,777$8,102$6,687$5,949
18 years$13,112$10,851$8,925$7,302$5,946$5,246
19 years$12,293$10,056$8,170$6,598$5,300$4,637
20 years$11,556$9,345$7,498$5,975$4,734$4,106
21 years$10,890$8,704$6,897$5,423$4,236$3,643
22 years$10,285$8,125$6,357$4,931$3,797$3,236
23 years$9,734$7,599$5,869$4,491$3,408$2,879
24 years$9,229$7,120$5,428$4,096$3,064$2,565
25 years$8,766$6,682$5,027$3,740$2,757$2,287
26 years$8,339$6,280$4,663$3,420$2,483$2,041
27 years$7,944$5,910$4,330$3,130$2,239$1,823
28 years$7,578$5,569$4,025$2,868$2,020$1,630
29 years$7,238$5,254$3,746$2,630$1,824$1,457
30 years$6,921$4,962$3,489$2,414$1,648$1,304
31 years$6,625$4,690$3,253$2,217$1,490$1,168
32 years$6,348$4,438$3,035$2,037$1,348$1,046
33 years$6,089$4,203$2,834$1,874$1,220$938
34 years$5,845$3,983$2,648$1,724$1,104$840
35 years$5,616$3,778$2,475$1,587$1,000$754
36 years$5,400$3,586$2,316$1,461$906$676
37 years$5,196$3,406$2,167$1,347$821$607
38 years$5,003$3,237$2,030$1,241$745$544
39 years$4,821$3,078$1,901$1,144$675$489
40 years$4,648$2,928$1,782$1,056$613$439
41 years$4,484$2,788$1,671$974$556$394
42 years$4,329$2,655$1,568$899$504$354
43 years$4,181$2,529$1,471$830$458$318
44 years$4,040$2,411$1,381$766$415$286
45 years$3,905$2,299$1,297$707$377$257
46 years$3,777$2,193$1,218$654$342$230
47 years$3,655$2,093$1,144$604$311$207
48 years$3,538$1,998$1,075$558$282$186
49 years$3,426$1,908$1,011$516$256$167
50 years$3,320$1,823$950$477$233$150

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $3,400,000, adding $2,980 every year, while hoping to spend $45,286 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: 60/21/19 Blend
53$3,400,000$3,400,000$3,400,000$3,400,000
54$3,749,874$3,569,674$3,516,974$3,956,151
55$4,084,177$3,696,404$3,586,609$4,222,774
56$4,451,061$3,827,826$3,657,058$4,508,261
57$4,853,802$3,964,122$3,728,302$4,818,690
58$5,296,008$4,105,482$3,800,318$5,156,484
59$5,781,653$4,252,102$3,873,081$5,524,309
60$6,315,115$4,404,189$3,946,563$5,925,100
61$6,901,218$4,561,956$4,020,734$6,362,088
62$7,545,275$4,725,624$4,095,561$6,838,830
63$8,253,140$4,895,427$4,171,010$7,359,238
64$9,031,263$5,071,605$4,247,041$7,927,624
65$9,886,747$5,254,410$4,323,612$8,548,733
66$10,827,421$5,444,101$4,400,679$9,227,788
67$11,861,909$5,640,953$4,478,193$9,970,543
68$12,999,713$5,845,249$4,556,101$10,783,333
69$14,251,301$6,057,284$4,634,348$11,673,134
70$15,628,208$6,277,365$4,712,873$12,647,628
71$17,143,142$6,505,813$4,791,611$13,715,278
72$18,810,107$6,742,962$4,870,495$14,885,401
73$20,644,531$6,989,160$4,949,449$16,168,261
74$22,663,414$7,244,770$5,028,396$17,575,163
75$24,885,486$7,510,168$5,107,252$19,118,559
76$27,331,388$7,785,748$5,185,927$20,812,166
77$30,023,860$8,071,920$5,264,326$22,671,091
78$32,987,962$8,369,113$5,342,349$24,711,978
79$36,251,305$8,677,770$5,419,889$26,953,162
80$39,844,313$8,998,356$5,496,830$29,414,838
81$43,800,513$9,331,355$5,573,054$32,119,258
82$48,156,846$9,677,272$5,648,432$35,090,934
83$52,954,018$10,036,632$5,722,828$38,356,869
84$58,236,885$10,409,984$5,796,100$41,946,816
85$64,054,873$10,797,899$5,868,095$45,893,551
86$70,462,447$11,200,973$5,938,653$50,233,187
87$77,519,624$11,619,829$6,007,606$55,005,512
88$85,292,539$12,055,113$6,074,773$60,254,360
89$93,854,067$12,507,503$6,139,968$66,028,030
90$103,284,514$12,977,703$6,202,989$72,379,736
91$113,672,373$13,466,448$6,263,627$79,368,111
92$125,115,157$13,974,507$6,321,661$87,057,757
93$137,720,324$14,502,679$6,376,858$95,519,856
94$151,606,286$15,051,799$6,428,972$104,832,837
95$166,903,529$15,622,739$6,477,744$115,083,119
96$183,755,842$16,216,406$6,522,901$126,365,924
97$202,321,678$16,833,750$6,564,159$138,786,172
98$222,775,646$17,475,761$6,601,215$152,459,475
99$245,310,159$18,143,470$6,633,752$167,513,223
100$270,137,251$18,837,956$6,661,439$184,087,784