Can I retire at age 54 with 2,220,000?

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 $2,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$183,326$181,693$180,099$178,544$177,026$175,323
2 years$90,755$89,065$87,427$85,839$84,298$82,583
3 years$59,902$58,205$56,571$54,998$53,482$51,807
4 years$44,479$42,787$41,169$39,623$38,144$36,523
5 years$35,228$33,545$31,949$30,434$28,996$27,434
6 years$29,062$27,392$25,820$24,338$22,944$21,441
7 years$24,659$23,004$21,456$20,010$18,660$17,218
8 years$21,359$19,719$18,197$16,786$15,480$14,099
9 years$18,794$17,169$15,673$14,298$13,036$11,716
10 years$16,742$15,133$13,664$12,325$11,108$9,847
11 years$15,065$13,472$12,029$10,726$9,553$8,351
12 years$13,669$12,092$10,676$9,408$8,278$7,133
13 years$12,488$10,928$9,538$8,306$7,219$6,130
14 years$11,477$9,933$8,570$7,373$6,328$5,294
15 years$10,601$9,074$7,738$6,576$5,572$4,591
16 years$9,835$8,325$7,015$5,888$4,924$3,995
17 years$9,161$7,667$6,384$5,290$4,366$3,486
18 years$8,562$7,085$5,827$4,768$3,882$3,050
19 years$8,026$6,566$5,335$4,308$3,460$2,675
20 years$7,545$6,102$4,896$3,902$3,091$2,350
21 years$7,110$5,683$4,503$3,541$2,766$2,068
22 years$6,715$5,305$4,150$3,220$2,479$1,822
23 years$6,356$4,962$3,832$2,932$2,226$1,608
24 years$6,026$4,649$3,544$2,674$2,000$1,420
25 years$5,724$4,363$3,283$2,442$1,800$1,256
26 years$5,445$4,100$3,044$2,233$1,621$1,111
27 years$5,187$3,859$2,827$2,044$1,462$984
28 years$4,948$3,636$2,628$1,873$1,319$872
29 years$4,726$3,430$2,446$1,717$1,191$773
30 years$4,519$3,240$2,278$1,576$1,076$685
31 years$4,326$3,062$2,124$1,448$973$608
32 years$4,145$2,898$1,982$1,330$880$540
33 years$3,976$2,744$1,850$1,223$797$479
34 years$3,817$2,601$1,729$1,126$721$426
35 years$3,667$2,467$1,616$1,036$653$378
36 years$3,526$2,341$1,512$954$592$336
37 years$3,393$2,224$1,415$879$536$299
38 years$3,267$2,113$1,325$810$486$266
39 years$3,148$2,010$1,242$747$441$236
40 years$3,035$1,912$1,164$689$400$210
41 years$2,928$1,820$1,091$636$363$187
42 years$2,826$1,733$1,024$587$329$166
43 years$2,730$1,652$960$542$299$148
44 years$2,638$1,574$902$500$271$132
45 years$2,550$1,501$847$462$246$117
46 years$2,466$1,432$795$427$224$104
47 years$2,387$1,367$747$394$203$93
48 years$2,310$1,305$702$364$184$83
49 years$2,237$1,246$660$337$167$74
50 years$2,167$1,190$620$311$152$65

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,220,000, adding $2,036 every year, while hoping to spend $51,303 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: 40/31/29 Blend
53$2,220,000$2,220,000$2,220,000$2,220,000
54$2,448,540$2,330,880$2,296,470$2,525,444
55$2,643,705$2,390,507$2,318,816$2,641,285
56$2,857,058$2,451,337$2,340,191$2,761,631
57$3,090,399$2,513,373$2,360,508$2,890,867
58$3,345,711$2,576,620$2,379,677$3,029,841
59$3,625,177$2,641,078$2,397,600$3,179,487
60$3,931,203$2,706,749$2,414,177$3,340,835
61$4,266,436$2,773,630$2,429,302$3,515,020
62$4,633,791$2,841,716$2,442,863$3,703,292
63$5,036,480$2,911,003$2,454,741$3,907,029
64$5,478,040$2,981,481$2,464,813$4,127,750
65$5,962,365$3,053,139$2,472,950$4,367,132
66$6,493,748$3,125,963$2,479,015$4,627,019
67$7,076,912$3,199,938$2,482,864$4,909,446
68$7,717,065$3,275,043$2,484,348$5,216,657
69$8,419,940$3,351,254$2,483,308$5,551,125
70$9,191,854$3,428,546$2,479,579$5,915,576
71$10,039,765$3,506,886$2,472,987$6,313,015
72$10,971,339$3,586,242$2,463,350$6,746,756
73$11,995,020$3,666,572$2,450,476$7,220,450
74$13,120,112$3,747,834$2,434,167$7,738,125
75$14,356,863$3,829,978$2,414,212$8,304,220
76$15,716,566$3,912,949$2,390,391$8,923,629
77$17,211,661$3,996,689$2,362,473$9,601,748
78$18,855,853$4,081,129$2,330,219$10,344,524
79$20,664,244$4,166,199$2,293,376$11,158,514
80$22,653,471$4,251,817$2,251,678$12,050,948
81$24,841,866$4,337,897$2,204,850$13,029,795
82$27,249,626$4,424,343$2,152,602$14,103,841
83$29,899,006$4,511,054$2,094,632$15,282,771
84$32,814,524$4,597,915$2,030,622$16,577,262
85$36,023,198$4,684,806$1,960,240$17,999,085
86$39,554,798$4,771,594$1,883,142$19,561,216
87$43,442,123$4,858,138$1,798,963$21,277,958
88$47,721,317$4,944,284$1,707,325$23,165,080
89$52,432,203$5,029,866$1,607,833$25,239,964
90$57,618,664$5,114,706$1,500,072$27,521,772
91$63,329,053$5,198,612$1,383,610$30,031,626
92$69,616,651$5,281,378$1,257,995$32,792,810
93$76,540,166$5,362,783$1,122,754$35,830,990
94$84,164,293$5,442,589$977,396$39,174,458
95$92,560,316$5,520,541$821,405$42,854,400
96$101,806,789$5,596,369$654,242$46,905,193
97$111,990,270$5,669,779$475,348$51,364,730
98$123,206,140$5,740,461$284,135$56,274,776
99$135,559,505$5,808,081$79,991$61,681,373
100$149,166,182$5,872,285$0$67,635,265