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%18.3%
1 years$184,151$182,511$180,911$179,349$177,823$171,856
2 years$91,164$89,466$87,821$86,225$84,678$78,725
3 years$60,172$58,467$56,826$55,245$53,723$47,971
4 years$44,679$42,980$41,355$39,801$38,316$32,809
5 years$35,386$33,696$32,093$30,571$29,127$23,880
6 years$29,193$27,516$25,936$24,448$23,047$18,064
7 years$24,771$23,108$21,553$20,100$18,744$14,024
8 years$21,455$19,808$18,278$16,861$15,550$11,089
9 years$18,878$17,246$15,743$14,362$13,095$8,889
10 years$16,818$15,202$13,725$12,380$11,158$7,199
11 years$15,133$13,533$12,084$10,775$9,596$5,878
12 years$13,730$12,147$10,724$9,451$8,316$4,829
13 years$12,544$10,977$9,581$8,344$7,251$3,987
14 years$11,528$9,978$8,609$7,407$6,357$3,305
15 years$10,649$9,115$7,772$6,605$5,597$2,749
16 years$9,880$8,363$7,047$5,914$4,946$2,293
17 years$9,202$7,702$6,412$5,314$4,386$1,917
18 years$8,600$7,117$5,854$4,789$3,900$1,605
19 years$8,062$6,596$5,359$4,327$3,476$1,346
20 years$7,579$6,129$4,918$3,919$3,105$1,130
21 years$7,142$5,709$4,524$3,557$2,778$950
22 years$6,746$5,329$4,169$3,234$2,490$800
23 years$6,384$4,984$3,850$2,945$2,236$673
24 years$6,053$4,670$3,560$2,686$2,009$567
25 years$5,749$4,382$3,297$2,453$1,808$478
26 years$5,469$4,119$3,058$2,243$1,629$403
27 years$5,210$3,876$2,840$2,053$1,468$340
28 years$4,970$3,653$2,640$1,881$1,325$287
29 years$4,747$3,446$2,457$1,725$1,196$242
30 years$4,539$3,254$2,288$1,583$1,081$205
31 years$4,345$3,076$2,133$1,454$977$173
32 years$4,164$2,911$1,990$1,336$884$146
33 years$3,994$2,757$1,858$1,229$800$123
34 years$3,834$2,613$1,736$1,131$724$104
35 years$3,683$2,478$1,623$1,041$656$88
36 years$3,542$2,352$1,519$959$594$74
37 years$3,408$2,234$1,421$883$539$63
38 years$3,282$2,123$1,331$814$488$53
39 years$3,162$2,019$1,247$751$443$45
40 years$3,049$1,921$1,169$692$402$38
41 years$2,941$1,828$1,096$639$365$32
42 years$2,839$1,741$1,028$589$331$27
43 years$2,742$1,659$965$544$300$23
44 years$2,650$1,581$906$502$272$19
45 years$2,561$1,508$850$464$247$16
46 years$2,477$1,439$799$429$225$14
47 years$2,397$1,373$750$396$204$12
48 years$2,321$1,311$705$366$185$10
49 years$2,247$1,252$663$338$168$8
50 years$2,177$1,195$623$313$153$7

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 $5,595 every year, while hoping to spend $27,718 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: 81/5/14 Blend
53$2,230,000$2,230,000$2,230,000$2,230,000
54$2,463,231$2,345,041$2,310,476$2,655,512
55$2,684,989$2,430,457$2,358,385$2,868,034
56$2,928,437$2,519,128$2,406,971$3,097,105
57$3,195,759$2,611,186$2,456,225$3,347,763
58$3,489,359$2,706,767$2,506,141$3,622,160
59$3,811,886$2,806,012$2,556,710$3,922,669
60$4,166,260$2,909,068$2,607,921$4,251,899
61$4,555,695$3,016,089$2,659,763$4,612,728
62$4,983,734$3,127,234$2,712,223$5,008,324
63$5,454,278$3,242,672$2,765,285$5,442,177
64$5,971,627$3,362,576$2,818,935$5,918,132
65$6,540,517$3,487,126$2,873,154$6,440,423
66$7,166,168$3,616,513$2,927,922$7,013,715
67$7,854,328$3,750,934$2,983,219$7,643,149
68$8,611,333$3,890,593$3,039,020$8,334,387
69$9,444,162$4,035,705$3,095,300$9,093,666
70$10,360,505$4,186,493$3,152,031$9,927,858
71$11,368,836$4,343,191$3,209,184$10,844,536
72$12,478,491$4,506,041$3,266,725$11,852,040
73$13,699,757$4,675,297$3,324,620$12,959,562
74$15,043,968$4,851,222$3,382,831$14,177,227
75$16,523,615$5,034,094$3,441,318$15,516,194
76$18,152,457$5,224,199$3,500,036$16,988,753
77$19,945,660$5,421,837$3,558,940$18,608,451
78$21,919,932$5,627,321$3,617,979$20,390,210
79$24,093,684$5,840,978$3,677,099$22,350,475
80$26,487,203$6,063,149$3,736,245$24,507,364
81$29,122,843$6,294,189$3,795,355$26,880,841
82$32,025,238$6,534,470$3,854,365$29,492,905
83$35,221,531$6,784,378$3,913,205$32,367,794
84$38,741,632$7,044,317$3,971,802$35,532,218
85$42,618,500$7,314,710$4,030,079$39,015,607
86$46,888,453$7,595,997$4,087,953$42,850,391
87$51,591,512$7,888,637$4,145,335$47,072,304
88$56,771,776$8,193,110$4,202,134$51,720,724
89$62,477,842$8,509,917$4,258,250$56,839,041
90$68,763,259$8,839,581$4,313,579$62,475,066
91$75,687,039$9,182,648$4,368,012$68,681,487
92$83,314,207$9,539,687$4,421,430$75,516,361
93$91,716,420$9,911,296$4,473,711$83,043,662
94$100,972,639$10,298,094$4,524,725$91,333,888
95$111,169,879$10,700,731$4,574,334$100,464,724
96$122,404,026$11,119,885$4,622,393$110,521,775
97$134,780,742$11,556,265$4,668,749$121,599,371
98$148,416,465$12,010,610$4,713,240$133,801,466
99$163,439,507$12,483,692$4,755,696$147,242,606
100$179,991,263$12,976,320$4,795,938$162,049,022