Can I retire at age 54 with 2,230,000?

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 $2,230,000?

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$184,151$182,511$180,911$179,349$177,823$176,925
2 years$91,164$89,466$87,821$86,225$84,678$83,771
3 years$60,172$58,467$56,826$55,245$53,723$52,836
4 years$44,679$42,980$41,355$39,801$38,316$37,456
5 years$35,386$33,696$32,093$30,571$29,127$28,296
6 years$29,193$27,516$25,936$24,448$23,047$22,247
7 years$24,771$23,108$21,553$20,100$18,744$17,974
8 years$21,455$19,808$18,278$16,861$15,550$14,810
9 years$18,878$17,246$15,743$14,362$13,095$12,386
10 years$16,818$15,202$13,725$12,380$11,158$10,479
11 years$15,133$13,533$12,084$10,775$9,596$8,947
12 years$13,730$12,147$10,724$9,451$8,316$7,696
13 years$12,544$10,977$9,581$8,344$7,251$6,660
14 years$11,528$9,978$8,609$7,407$6,357$5,793
15 years$10,649$9,115$7,772$6,605$5,597$5,061
16 years$9,880$8,363$7,047$5,914$4,946$4,437
17 years$9,202$7,702$6,412$5,314$4,386$3,902
18 years$8,600$7,117$5,854$4,789$3,900$3,441
19 years$8,062$6,596$5,359$4,327$3,476$3,041
20 years$7,579$6,129$4,918$3,919$3,105$2,693
21 years$7,142$5,709$4,524$3,557$2,778$2,389
22 years$6,746$5,329$4,169$3,234$2,490$2,123
23 years$6,384$4,984$3,850$2,945$2,236$1,889
24 years$6,053$4,670$3,560$2,686$2,009$1,682
25 years$5,749$4,382$3,297$2,453$1,808$1,500
26 years$5,469$4,119$3,058$2,243$1,629$1,339
27 years$5,210$3,876$2,840$2,053$1,468$1,196
28 years$4,970$3,653$2,640$1,881$1,325$1,069
29 years$4,747$3,446$2,457$1,725$1,196$956
30 years$4,539$3,254$2,288$1,583$1,081$856
31 years$4,345$3,076$2,133$1,454$977$766
32 years$4,164$2,911$1,990$1,336$884$686
33 years$3,994$2,757$1,858$1,229$800$615
34 years$3,834$2,613$1,736$1,131$724$551
35 years$3,683$2,478$1,623$1,041$656$494
36 years$3,542$2,352$1,519$959$594$443
37 years$3,408$2,234$1,421$883$539$398
38 years$3,282$2,123$1,331$814$488$357
39 years$3,162$2,019$1,247$751$443$321
40 years$3,049$1,921$1,169$692$402$288
41 years$2,941$1,828$1,096$639$365$258
42 years$2,839$1,741$1,028$589$331$232
43 years$2,742$1,659$965$544$300$208
44 years$2,650$1,581$906$502$272$187
45 years$2,561$1,508$850$464$247$168
46 years$2,477$1,439$799$429$225$151
47 years$2,397$1,373$750$396$204$136
48 years$2,321$1,311$705$366$185$122
49 years$2,247$1,252$663$338$168$110
50 years$2,177$1,195$623$313$153$99

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,230,000, adding $3,097 every year, while hoping to spend $49,836 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: 47/43/10 Blend
53$2,230,000$2,230,000$2,230,000$2,230,000
54$2,460,655$2,342,465$2,307,900$2,569,377
55$2,658,616$2,404,220$2,332,189$2,706,344
56$2,875,100$2,467,332$2,355,622$2,849,480
57$3,111,941$2,531,813$2,378,117$3,003,684
58$3,371,164$2,597,676$2,399,588$3,170,003
59$3,654,994$2,664,933$2,419,946$3,349,584
60$3,965,884$2,733,595$2,439,095$3,543,694
61$4,306,534$2,803,672$2,456,934$3,753,724
62$4,679,919$2,875,170$2,473,360$3,981,209
63$5,089,313$2,948,096$2,488,260$4,227,835
64$5,538,325$3,022,455$2,501,519$4,495,463
65$6,030,928$3,098,249$2,513,014$4,786,138
66$6,571,500$3,175,480$2,522,616$5,102,115
67$7,164,860$3,254,145$2,530,191$5,445,877
68$7,816,319$3,334,242$2,535,596$5,820,157
69$8,531,727$3,415,764$2,538,682$6,227,967
70$9,317,529$3,498,701$2,539,294$6,672,626
71$10,180,823$3,583,044$2,537,266$7,157,787
72$11,129,429$3,668,775$2,532,426$7,687,478
73$12,171,963$3,755,877$2,524,595$8,266,133
74$13,317,917$3,844,329$2,513,583$8,898,639
75$14,577,747$3,934,103$2,499,190$9,590,380
76$15,962,974$4,025,171$2,481,209$10,347,289
77$17,486,290$4,117,497$2,459,423$11,175,901
78$19,161,680$4,211,043$2,433,602$12,083,419
79$21,004,551$4,305,764$2,403,507$13,077,777
80$23,031,879$4,401,610$2,368,888$14,167,721
81$25,262,367$4,498,526$2,329,483$15,362,886
82$27,716,624$4,596,449$2,285,016$16,673,890
83$30,417,357$4,695,312$2,235,201$18,112,432
84$33,389,584$4,795,039$2,179,737$19,691,407
85$36,660,872$4,895,547$2,118,309$21,425,022
86$40,261,597$4,996,744$2,050,588$23,328,936
87$44,225,226$5,098,531$1,976,230$25,420,403
88$48,588,640$5,200,800$1,894,874$27,718,438
89$53,392,474$5,303,432$1,806,145$30,243,996
90$58,681,505$5,406,298$1,709,649$33,020,171
91$64,505,071$5,509,260$1,604,975$36,072,411
92$70,917,539$5,612,165$1,491,693$39,428,764
93$77,978,818$5,714,850$1,369,354$43,120,137
94$85,754,919$5,817,139$1,237,489$47,180,595
95$94,318,583$5,918,841$1,095,607$51,647,676
96$103,749,966$6,019,752$943,197$56,562,751
97$114,137,393$6,119,651$779,725$61,971,412
98$125,578,193$6,218,299$604,632$67,923,906
99$138,179,616$6,315,443$417,334$74,475,607
100$152,059,846$6,410,810$217,225$81,687,543