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

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 $2,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$184,151$182,511$180,911$179,349$177,823$174,020
2 years$91,164$89,466$87,821$86,225$84,678$80,864
3 years$60,172$58,467$56,826$55,245$53,723$50,019
4 years$44,679$42,980$41,355$39,801$38,316$34,749
5 years$35,386$33,696$32,093$30,571$29,127$25,708
6 years$29,193$27,516$25,936$24,448$23,047$19,779
7 years$24,771$23,108$21,553$20,100$18,744$15,628
8 years$21,455$19,808$18,278$16,861$15,550$12,585
9 years$18,878$17,246$15,743$14,362$13,095$10,279
10 years$16,818$15,202$13,725$12,380$11,158$8,487
11 years$15,133$13,533$12,084$10,775$9,596$7,068
12 years$13,730$12,147$10,724$9,451$8,316$5,927
13 years$12,544$10,977$9,581$8,344$7,251$4,997
14 years$11,528$9,978$8,609$7,407$6,357$4,232
15 years$10,649$9,115$7,772$6,605$5,597$3,598
16 years$9,880$8,363$7,047$5,914$4,946$3,068
17 years$9,202$7,702$6,412$5,314$4,386$2,623
18 years$8,600$7,117$5,854$4,789$3,900$2,248
19 years$8,062$6,596$5,359$4,327$3,476$1,929
20 years$7,579$6,129$4,918$3,919$3,105$1,659
21 years$7,142$5,709$4,524$3,557$2,778$1,428
22 years$6,746$5,329$4,169$3,234$2,490$1,231
23 years$6,384$4,984$3,850$2,945$2,236$1,062
24 years$6,053$4,670$3,560$2,686$2,009$917
25 years$5,749$4,382$3,297$2,453$1,808$792
26 years$5,469$4,119$3,058$2,243$1,629$685
27 years$5,210$3,876$2,840$2,053$1,468$593
28 years$4,970$3,653$2,640$1,881$1,325$513
29 years$4,747$3,446$2,457$1,725$1,196$444
30 years$4,539$3,254$2,288$1,583$1,081$385
31 years$4,345$3,076$2,133$1,454$977$333
32 years$4,164$2,911$1,990$1,336$884$289
33 years$3,994$2,757$1,858$1,229$800$250
34 years$3,834$2,613$1,736$1,131$724$217
35 years$3,683$2,478$1,623$1,041$656$188
36 years$3,542$2,352$1,519$959$594$163
37 years$3,408$2,234$1,421$883$539$142
38 years$3,282$2,123$1,331$814$488$123
39 years$3,162$2,019$1,247$751$443$107
40 years$3,049$1,921$1,169$692$402$92
41 years$2,941$1,828$1,096$639$365$80
42 years$2,839$1,741$1,028$589$331$70
43 years$2,742$1,659$965$544$300$60
44 years$2,650$1,581$906$502$272$52
45 years$2,561$1,508$850$464$247$45
46 years$2,477$1,439$799$429$225$39
47 years$2,397$1,373$750$396$204$34
48 years$2,321$1,311$705$366$185$30
49 years$2,247$1,252$663$338$168$26
50 years$2,177$1,195$623$313$153$22

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 $3,427 every year, while hoping to spend $29,442 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: 72/14/14 Blend
53$2,230,000$2,230,000$2,230,000$2,230,000
54$2,460,995$2,342,805$2,308,240$2,630,395
55$2,680,690$2,426,276$2,354,240$2,826,587
56$2,921,808$2,512,851$2,400,794$3,037,434
57$3,186,502$2,602,650$2,447,890$3,267,541
58$3,477,144$2,695,799$2,495,514$3,518,808
59$3,796,349$2,792,430$2,543,650$3,793,326
60$4,146,996$2,892,678$2,592,281$4,093,398
61$4,532,257$2,996,687$2,641,390$4,421,557
62$4,955,626$3,104,603$2,690,955$4,780,596
63$5,420,952$3,216,580$2,740,954$5,173,588
64$5,932,477$3,332,781$2,791,364$5,603,919
65$6,494,873$3,453,370$2,842,158$6,075,316
66$7,113,287$3,578,523$2,893,308$6,591,886
67$7,793,392$3,708,420$2,944,783$7,158,151
68$8,541,436$3,843,251$2,996,552$7,779,093
69$9,364,304$3,983,212$3,048,577$8,460,197
70$10,269,581$4,128,507$3,100,823$9,207,506
71$11,265,625$4,279,350$3,153,247$10,027,679
72$12,361,645$4,435,964$3,205,807$10,928,048
73$13,567,786$4,598,581$3,258,455$11,916,691
74$14,895,230$4,767,441$3,311,143$13,002,506
75$16,356,294$4,942,796$3,363,817$14,195,298
76$17,964,552$5,124,909$3,416,421$15,505,867
77$19,734,960$5,314,053$3,468,894$16,946,110
78$21,683,997$5,510,512$3,521,173$18,529,136
79$23,829,822$5,714,585$3,573,190$20,269,387
80$26,192,443$5,926,579$3,624,871$22,182,773
81$28,793,910$6,146,819$3,676,142$24,286,826
82$31,658,516$6,375,640$3,726,920$26,600,859
83$34,813,032$6,613,394$3,777,119$29,146,151
84$38,286,957$6,860,447$3,826,649$31,946,151
85$42,112,797$7,117,179$3,875,412$35,026,691
86$46,326,371$7,383,989$3,923,307$38,416,235
87$50,967,148$7,661,292$3,970,225$42,146,146
88$56,078,623$7,949,520$4,016,053$46,250,981
89$61,708,722$8,249,126$4,060,670$50,768,815
90$67,910,258$8,560,580$4,103,949$55,741,605
91$74,741,429$8,884,374$4,145,756$61,215,580
92$82,266,366$9,221,019$4,185,950$67,241,677
93$90,555,738$9,571,052$4,224,382$73,876,027
94$99,687,420$9,935,029$4,260,895$81,180,478
95$109,747,225$10,313,534$4,295,324$89,223,180
96$120,829,718$10,707,174$4,327,493$98,079,228
97$133,039,107$11,116,583$4,357,222$107,831,371
98$146,490,223$11,542,423$4,384,316$118,570,792
99$161,309,608$11,985,384$4,408,573$130,397,967
100$177,636,709$12,446,188$4,429,780$143,423,612