Can I retire at age 54 with 2,040,000?

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 $2,040,000?

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$168,461$166,961$165,497$164,068$162,672$161,851
2 years$83,397$81,843$80,338$78,879$77,463$76,634
3 years$55,046$53,486$51,984$50,538$49,146$48,335
4 years$40,873$39,318$37,831$36,410$35,051$34,264
5 years$32,371$30,825$29,359$27,966$26,645$25,885
6 years$26,705$25,171$23,726$22,365$21,084$20,351
7 years$22,660$21,139$19,716$18,387$17,147$16,442
8 years$19,627$18,120$16,721$15,425$14,225$13,548
9 years$17,270$15,777$14,402$13,138$11,979$11,331
10 years$15,385$13,906$12,556$11,326$10,207$9,586
11 years$13,844$12,380$11,054$9,857$8,778$8,185
12 years$12,560$11,112$9,810$8,646$7,607$7,040
13 years$11,475$10,042$8,765$7,633$6,634$6,093
14 years$10,546$9,128$7,875$6,775$5,815$5,300
15 years$9,741$8,338$7,110$6,043$5,120$4,630
16 years$9,038$7,650$6,446$5,410$4,525$4,059
17 years$8,418$7,045$5,866$4,861$4,012$3,570
18 years$7,867$6,510$5,355$4,381$3,567$3,148
19 years$7,376$6,034$4,902$3,959$3,180$2,782
20 years$6,933$5,607$4,499$3,585$2,840$2,464
21 years$6,534$5,223$4,138$3,254$2,542$2,186
22 years$6,171$4,875$3,814$2,958$2,278$1,942
23 years$5,840$4,560$3,522$2,694$2,045$1,728
24 years$5,538$4,272$3,257$2,457$1,838$1,539
25 years$5,259$4,009$3,016$2,244$1,654$1,372
26 years$5,003$3,768$2,798$2,052$1,490$1,225
27 years$4,766$3,546$2,598$1,878$1,343$1,094
28 years$4,547$3,341$2,415$1,721$1,212$978
29 years$4,343$3,152$2,247$1,578$1,094$874
30 years$4,153$2,977$2,093$1,448$989$783
31 years$3,975$2,814$1,952$1,330$894$701
32 years$3,809$2,663$1,821$1,222$809$628
33 years$3,653$2,522$1,700$1,124$732$563
34 years$3,507$2,390$1,589$1,034$663$504
35 years$3,370$2,267$1,485$952$600$452
36 years$3,240$2,152$1,389$877$544$406
37 years$3,118$2,044$1,300$808$493$364
38 years$3,002$1,942$1,218$745$447$327
39 years$2,893$1,847$1,141$687$405$293
40 years$2,789$1,757$1,069$633$368$263
41 years$2,691$1,673$1,003$584$333$236
42 years$2,597$1,593$941$539$303$212
43 years$2,508$1,518$883$498$275$191
44 years$2,424$1,447$828$460$249$171
45 years$2,343$1,380$778$424$226$154
46 years$2,266$1,316$731$392$205$138
47 years$2,193$1,256$686$362$187$124
48 years$2,123$1,199$645$335$169$112
49 years$2,056$1,145$606$309$154$100
50 years$1,992$1,094$570$286$140$90

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,040,000, adding $5,599 every year, while hoping to spend $46,789 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: 64/25/11 Blend
53$2,040,000$2,040,000$2,040,000$2,040,000
54$2,253,855$2,145,735$2,114,115$2,392,192
55$2,433,965$2,201,093$2,135,155$2,540,642
56$2,630,879$2,257,596$2,155,331$2,696,760
57$2,846,259$2,315,249$2,174,566$2,866,101
58$3,081,940$2,374,059$2,192,777$3,049,951
59$3,339,940$2,434,029$2,209,876$3,249,724
60$3,622,480$2,495,163$2,225,773$3,466,978
61$3,932,008$2,557,461$2,240,372$3,703,427
62$4,271,219$2,620,922$2,253,571$3,960,963
63$4,643,081$2,685,545$2,265,263$4,241,665
64$5,050,863$2,751,325$2,275,337$4,547,825
65$5,498,166$2,818,255$2,283,676$4,881,967
66$5,988,956$2,886,326$2,290,155$5,246,873
67$6,527,600$2,955,527$2,294,646$5,645,606
68$7,118,911$3,025,843$2,297,013$6,081,539
69$7,768,188$3,097,258$2,297,111$6,558,392
70$8,481,271$3,169,751$2,294,792$7,080,260
71$9,264,592$3,243,300$2,289,899$7,651,655
72$10,125,235$3,317,877$2,282,265$8,277,548
73$11,071,007$3,393,451$2,271,719$8,963,419
74$12,110,508$3,469,988$2,258,079$9,715,301
75$13,253,210$3,547,448$2,241,156$10,539,846
76$14,509,552$3,625,787$2,220,749$11,444,381
77$15,891,034$3,704,958$2,196,651$12,436,979
78$17,410,324$3,784,905$2,168,644$13,526,538
79$19,081,381$3,865,570$2,136,498$14,722,861
80$20,919,585$3,946,886$2,099,973$16,036,750
81$22,941,881$4,028,782$2,058,821$17,480,110
82$25,166,938$4,111,178$2,012,777$19,066,058
83$27,615,329$4,193,988$1,961,568$20,809,048
84$30,309,718$4,277,119$1,904,906$22,725,010
85$33,275,080$4,360,469$1,842,491$24,831,497
86$36,538,933$4,443,927$1,774,010$27,147,852
87$40,131,598$4,527,373$1,699,132$29,695,390
88$44,086,484$4,610,677$1,617,516$32,497,604
89$48,440,404$4,693,698$1,528,801$35,580,378
90$53,233,922$4,776,287$1,432,613$38,972,240
91$58,511,736$4,858,279$1,328,560$42,704,627
92$64,323,098$4,939,500$1,216,232$46,812,183
93$70,722,278$5,019,759$1,095,200$51,333,087
94$77,769,079$5,098,856$965,017$56,309,412
95$85,529,397$5,176,572$825,217$61,787,524
96$94,075,846$5,252,674$675,312$67,818,519
97$103,488,439$5,326,912$514,792$74,458,707
98$113,855,348$5,399,019$343,126$81,770,144
99$125,273,731$5,468,708$159,758$89,821,214
100$137,850,651$5,535,674$0$98,687,282