Can I retire at age 54 with 8,900,000?

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 $8,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$734,954$728,407$722,020$715,786$709,698$681,810
2 years$363,838$357,062$350,495$344,128$337,952$310,195
3 years$240,150$233,344$226,794$220,486$214,410$187,661
4 years$178,317$171,533$165,048$158,848$152,919$127,380
5 years$141,228$134,484$128,084$122,010$116,247$91,982
6 years$116,509$109,816$103,511$97,573$91,982$69,009
7 years$98,860$92,223$86,018$80,220$74,806$53,116
8 years$85,629$79,052$72,950$67,294$62,059$41,630
9 years$75,344$68,829$62,832$57,320$52,263$33,064
10 years$67,121$60,670$54,778$49,410$44,530$26,526
11 years$60,397$54,011$48,226$43,002$38,298$21,445
12 years$54,798$48,477$42,799$37,718$33,188$17,443
13 years$50,064$43,809$38,238$33,300$28,940$14,256
14 years$46,010$39,821$34,357$29,560$25,369$11,695
15 years$42,499$36,377$31,020$26,362$22,337$9,625
16 years$39,430$33,376$28,124$23,604$19,741$7,940
17 years$36,726$30,738$25,592$21,208$17,504$6,564
18 years$34,324$28,403$23,362$19,113$15,564$5,436
19 years$32,178$26,324$21,387$17,270$13,872$4,507
20 years$30,248$24,461$19,628$15,642$12,391$3,742
21 years$28,505$22,785$18,054$14,196$11,089$3,109
22 years$26,922$21,269$16,639$12,907$9,939$2,585
23 years$25,479$19,892$15,363$11,755$8,922$2,151
24 years$24,159$18,638$14,209$10,721$8,019$1,791
25 years$22,946$17,490$13,160$9,791$7,216$1,492
26 years$21,828$16,438$12,205$8,952$6,500$1,243
27 years$20,794$15,470$11,334$8,194$5,860$1,036
28 years$19,836$14,578$10,536$7,508$5,288$864
29 years$18,946$13,752$9,805$6,885$4,775$720
30 years$18,117$12,988$9,133$6,319$4,314$601
31 years$17,342$12,278$8,514$5,803$3,901$501
32 years$16,618$11,617$7,944$5,333$3,528$418
33 years$15,939$11,002$7,417$4,904$3,193$349
34 years$15,301$10,427$6,930$4,512$2,891$291
35 years$14,701$9,890$6,479$4,154$2,619$243
36 years$14,135$9,387$6,061$3,826$2,373$203
37 years$13,602$8,915$5,673$3,525$2,150$169
38 years$13,097$8,473$5,313$3,249$1,949$141
39 years$12,620$8,057$4,977$2,996$1,768$118
40 years$12,168$7,665$4,665$2,763$1,604$98
41 years$11,739$7,297$4,375$2,549$1,455$82
42 years$11,331$6,949$4,104$2,353$1,320$68
43 years$10,943$6,621$3,851$2,172$1,198$57
44 years$10,574$6,311$3,614$2,005$1,087$48
45 years$10,223$6,018$3,394$1,852$987$40
46 years$9,888$5,741$3,188$1,711$896$33
47 years$9,568$5,479$2,995$1,580$814$28
48 years$9,262$5,230$2,814$1,460$739$23
49 years$8,969$4,995$2,645$1,350$671$19
50 years$8,690$4,771$2,487$1,248$610$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $8,900,000, adding $2,465 every year, while hoping to spend $48,976 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: 43/48/9 Blend
53$8,900,000$8,900,000$8,900,000$8,900,000
54$9,810,343$9,338,643$9,200,693$10,206,546
55$10,758,888$9,744,126$9,456,806$10,887,862
56$11,802,542$10,167,837$9,719,857$11,620,338
57$12,950,957$10,610,616$9,990,028$12,412,723
58$14,214,763$11,073,345$10,267,502$13,270,516
59$15,605,677$11,556,946$10,552,471$14,199,750
60$17,136,605$12,062,385$10,845,128$15,207,047
61$18,821,770$12,590,674$11,145,672$16,299,674
62$20,676,846$13,142,872$11,454,307$17,485,609
63$22,719,100$13,720,089$11,771,241$18,773,615
64$24,967,560$14,323,485$12,096,690$20,173,312
65$27,443,193$14,954,277$12,430,871$21,695,269
66$30,169,102$15,613,740$12,774,008$23,351,095
67$33,170,745$16,303,208$13,126,332$25,153,549
68$36,476,174$17,024,079$13,488,077$27,116,647
69$40,116,300$17,777,815$13,859,485$29,255,798
70$44,125,185$18,565,950$14,240,800$31,587,937
71$48,540,363$19,390,091$14,632,275$34,131,681
72$53,403,192$20,251,918$15,034,169$36,907,501
73$58,759,250$21,153,193$15,446,745$39,937,904
74$64,658,756$22,095,763$15,870,274$43,247,643
75$71,157,053$23,081,559$16,305,032$46,863,941
76$78,315,124$24,112,607$16,751,303$50,816,743
77$86,200,170$25,191,028$17,209,374$55,138,986
78$94,886,243$26,319,044$17,679,544$59,866,909
79$104,454,946$27,498,983$18,162,115$65,040,380
80$114,996,201$28,733,284$18,657,396$70,703,266
81$126,609,099$30,024,501$19,165,705$76,903,839
82$139,402,837$31,375,311$19,687,366$83,695,220
83$153,497,744$32,788,519$20,222,711$91,135,873
84$169,026,420$34,267,062$20,772,077$99,290,143
85$186,134,986$35,814,019$21,335,812$108,228,851
86$204,984,463$37,432,615$21,914,271$118,029,958
87$225,752,294$39,126,229$22,507,815$128,779,281
88$248,634,015$40,898,401$23,116,814$140,571,296
89$273,845,103$42,752,842$23,741,646$153,510,011
90$301,623,011$44,693,439$24,382,699$167,709,939
91$332,229,406$46,724,264$25,040,366$183,297,161
92$365,952,639$48,849,587$25,715,053$200,410,504
93$403,110,471$51,073,880$26,407,170$219,202,831
94$444,053,068$53,401,829$27,117,138$239,842,472
95$489,166,307$55,838,345$27,845,389$262,514,792
96$538,875,421$58,388,574$28,592,360$287,423,923
97$593,649,011$61,057,911$29,358,501$314,794,676
98$654,003,468$63,852,007$30,144,269$344,874,635
99$720,507,851$66,776,785$30,950,131$377,936,482
100$793,789,256$69,838,451$31,776,565$414,280,542