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

Use the below retirement simulation to view the chances of a successful retirement.
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%12.4%
1 years$168,461$166,961$165,497$164,068$162,672$161,041
2 years$83,397$81,843$80,338$78,879$77,463$75,820
3 years$55,046$53,486$51,984$50,538$49,146$47,541
4 years$40,873$39,318$37,831$36,410$35,051$33,498
5 years$32,371$30,825$29,359$27,966$26,645$25,149
6 years$26,705$25,171$23,726$22,365$21,084$19,645
7 years$22,660$21,139$19,716$18,387$17,147$15,767
8 years$19,627$18,120$16,721$15,425$14,225$12,903
9 years$17,270$15,777$14,402$13,138$11,979$10,716
10 years$15,385$13,906$12,556$11,326$10,207$9,001
11 years$13,844$12,380$11,054$9,857$8,778$7,629
12 years$12,560$11,112$9,810$8,646$7,607$6,512
13 years$11,475$10,042$8,765$7,633$6,634$5,593
14 years$10,546$9,128$7,875$6,775$5,815$4,827
15 years$9,741$8,338$7,110$6,043$5,120$4,183
16 years$9,038$7,650$6,446$5,410$4,525$3,637
17 years$8,418$7,045$5,866$4,861$4,012$3,172
18 years$7,867$6,510$5,355$4,381$3,567$2,774
19 years$7,376$6,034$4,902$3,959$3,180$2,430
20 years$6,933$5,607$4,499$3,585$2,840$2,134
21 years$6,534$5,223$4,138$3,254$2,542$1,876
22 years$6,171$4,875$3,814$2,958$2,278$1,652
23 years$5,840$4,560$3,522$2,694$2,045$1,456
24 years$5,538$4,272$3,257$2,457$1,838$1,285
25 years$5,259$4,009$3,016$2,244$1,654$1,136
26 years$5,003$3,768$2,798$2,052$1,490$1,004
27 years$4,766$3,546$2,598$1,878$1,343$888
28 years$4,547$3,341$2,415$1,721$1,212$786
29 years$4,343$3,152$2,247$1,578$1,094$697
30 years$4,153$2,977$2,093$1,448$989$617
31 years$3,975$2,814$1,952$1,330$894$547
32 years$3,809$2,663$1,821$1,222$809$486
33 years$3,653$2,522$1,700$1,124$732$431
34 years$3,507$2,390$1,589$1,034$663$382
35 years$3,370$2,267$1,485$952$600$340
36 years$3,240$2,152$1,389$877$544$301
37 years$3,118$2,044$1,300$808$493$268
38 years$3,002$1,942$1,218$745$447$238
39 years$2,893$1,847$1,141$687$405$211
40 years$2,789$1,757$1,069$633$368$188
41 years$2,691$1,673$1,003$584$333$167
42 years$2,597$1,593$941$539$303$148
43 years$2,508$1,518$883$498$275$132
44 years$2,424$1,447$828$460$249$117
45 years$2,343$1,380$778$424$226$104
46 years$2,266$1,316$731$392$205$93
47 years$2,193$1,256$686$362$187$82
48 years$2,123$1,199$645$335$169$73
49 years$2,056$1,145$606$309$154$65
50 years$1,992$1,094$570$286$140$58

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 $3,228 every year, while hoping to spend $24,777 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: 53/40/7 Blend
53$2,040,000$2,040,000$2,040,000$2,040,000
54$2,251,410$2,143,290$2,111,670$2,366,798
55$2,454,691$2,221,948$2,156,048$2,523,999
56$2,677,876$2,303,631$2,201,083$2,691,948
57$2,922,970$2,388,459$2,246,769$2,874,062
58$3,192,180$2,476,561$2,293,103$3,071,683
59$3,487,938$2,568,068$2,340,078$3,286,288
60$3,812,923$2,663,118$2,387,686$3,519,497
61$4,170,087$2,761,857$2,435,919$3,773,096
62$4,562,681$2,864,433$2,484,768$4,049,046
63$4,994,289$2,971,004$2,534,221$4,349,504
64$5,468,855$3,081,733$2,584,267$4,676,842
65$5,990,730$3,196,789$2,634,891$5,033,672
66$6,564,704$3,316,351$2,686,079$5,422,865
67$7,196,055$3,440,604$2,737,814$5,847,579
68$7,890,599$3,569,740$2,790,077$6,311,293
69$8,654,743$3,703,960$2,842,848$6,817,830
70$9,495,549$3,843,476$2,896,105$7,371,402
71$10,420,794$3,988,506$2,949,824$7,976,642
72$11,439,051$4,139,278$3,003,979$8,638,650
73$12,559,762$4,296,031$3,058,540$9,363,041
74$13,793,335$4,459,013$3,113,479$10,155,994
75$15,151,235$4,628,485$3,168,760$11,024,313
76$16,646,097$4,804,717$3,224,350$11,975,488
77$18,291,843$4,987,991$3,280,209$13,017,766
78$20,103,811$5,178,603$3,336,296$14,160,227
79$22,098,905$5,376,861$3,392,568$15,412,870
80$24,295,751$5,583,084$3,448,976$16,786,706
81$26,714,872$5,797,610$3,505,472$18,293,856
82$29,378,884$6,020,787$3,561,999$19,947,675
83$32,312,706$6,252,982$3,618,502$21,762,866
84$35,543,799$6,494,575$3,674,919$23,755,622
85$39,102,422$6,745,965$3,731,185$25,943,781
86$43,021,919$7,007,567$3,787,230$28,346,985
87$47,339,033$7,279,816$3,842,980$30,986,873
88$52,094,253$7,563,165$3,898,358$33,887,276
89$57,332,193$7,858,087$3,953,280$37,074,446
90$63,102,020$8,165,077$4,007,658$40,577,299
91$69,457,911$8,484,650$4,061,399$44,427,688
92$76,459,566$8,817,346$4,114,404$48,660,701
93$84,172,774$9,163,728$4,166,569$53,314,992
94$92,670,030$9,524,384$4,217,782$58,433,141
95$102,031,224$9,899,929$4,267,928$64,062,058
96$112,344,387$10,291,005$4,316,882$70,253,419
97$123,706,532$10,698,281$4,364,515$77,064,158
98$136,224,560$11,122,459$4,410,688$84,556,995
99$150,016,276$11,564,271$4,455,258$92,801,033
100$165,211,497$12,024,480$4,498,069$101,872,402