Can I retire at age 54 with 2,240,000?

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 $2,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$184,977$183,329$181,722$180,153$178,621$174,729
2 years$91,573$89,867$88,215$86,612$85,057$81,156
3 years$60,442$58,729$57,081$55,493$53,964$50,175
4 years$44,880$43,172$41,540$39,980$38,488$34,840
5 years$35,545$33,848$32,237$30,708$29,258$25,762
6 years$29,324$27,639$26,052$24,558$23,151$19,810
7 years$24,882$23,211$21,649$20,190$18,828$15,643
8 years$21,552$19,896$18,360$16,937$15,619$12,590
9 years$18,963$17,323$15,814$14,427$13,154$10,277
10 years$16,893$15,270$13,787$12,436$11,208$8,481
11 years$15,201$13,594$12,138$10,823$9,639$7,058
12 years$13,792$12,201$10,772$9,493$8,353$5,914
13 years$12,600$11,026$9,624$8,381$7,284$4,983
14 years$11,580$10,022$8,647$7,440$6,385$4,218
15 years$10,696$9,156$7,807$6,635$5,622$3,583
16 years$9,924$8,400$7,078$5,941$4,969$3,053
17 years$9,243$7,736$6,441$5,338$4,406$2,609
18 years$8,639$7,149$5,880$4,810$3,917$2,233
19 years$8,099$6,625$5,383$4,347$3,491$1,916
20 years$7,613$6,157$4,940$3,937$3,119$1,646
21 years$7,174$5,735$4,544$3,573$2,791$1,416
22 years$6,776$5,353$4,188$3,249$2,502$1,220
23 years$6,413$5,007$3,867$2,959$2,246$1,051
24 years$6,080$4,691$3,576$2,698$2,018$907
25 years$5,775$4,402$3,312$2,464$1,816$783
26 years$5,494$4,137$3,072$2,253$1,636$677
27 years$5,234$3,894$2,853$2,062$1,475$585
28 years$4,992$3,669$2,652$1,890$1,331$506
29 years$4,768$3,461$2,468$1,733$1,202$438
30 years$4,560$3,269$2,299$1,590$1,086$379
31 years$4,365$3,090$2,143$1,461$982$328
32 years$4,182$2,924$1,999$1,342$888$284
33 years$4,012$2,769$1,867$1,234$804$246
34 years$3,851$2,624$1,744$1,136$728$213
35 years$3,700$2,489$1,631$1,045$659$185
36 years$3,558$2,363$1,526$963$597$160
37 years$3,423$2,244$1,428$887$541$139
38 years$3,296$2,132$1,337$818$491$120
39 years$3,176$2,028$1,253$754$445$104
40 years$3,062$1,929$1,174$695$404$90
41 years$2,954$1,836$1,101$642$366$78
42 years$2,852$1,749$1,033$592$332$68
43 years$2,754$1,666$969$547$302$59
44 years$2,661$1,588$910$505$274$51
45 years$2,573$1,515$854$466$248$44
46 years$2,489$1,445$802$431$226$38
47 years$2,408$1,379$754$398$205$33
48 years$2,331$1,316$708$368$186$29
49 years$2,257$1,257$666$340$169$25
50 years$2,187$1,201$626$314$153$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,240,000, adding $4,380 every year, while hoping to spend $59,304 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: 77/9/14 Blend
53$2,240,000$2,240,000$2,240,000$2,240,000
54$2,472,998$2,354,278$2,319,558$2,655,926
55$2,662,145$2,406,539$2,334,164$2,829,398
56$2,868,597$2,459,372$2,347,272$3,011,640
57$3,094,057$2,512,745$2,358,769$3,209,833
58$3,340,399$2,566,618$2,368,536$3,425,549
59$3,609,687$2,620,949$2,376,449$3,660,516
60$3,904,192$2,675,692$2,382,377$3,916,638
61$4,226,415$2,730,797$2,386,182$4,196,014
62$4,579,111$2,786,207$2,387,721$4,500,955
63$4,965,312$2,841,864$2,386,841$4,834,006
64$5,388,359$2,897,700$2,383,385$5,197,972
65$5,851,929$2,953,644$2,377,186$5,595,945
66$6,360,072$3,009,619$2,368,068$6,031,328
67$6,917,250$3,065,542$2,355,850$6,507,873
68$7,528,377$3,121,321$2,340,338$7,029,713
69$8,198,864$3,176,858$2,321,332$7,601,402
70$8,934,673$3,232,048$2,298,621$8,227,958
71$9,742,369$3,286,778$2,271,984$8,914,911
72$10,629,185$3,340,925$2,241,190$9,668,353
73$11,603,089$3,394,357$2,205,997$10,494,997
74$12,672,858$3,446,935$2,166,152$11,402,241
75$13,848,160$3,498,505$2,121,388$12,398,238
76$15,139,647$3,548,906$2,071,429$13,491,970
77$16,559,053$3,597,965$2,015,985$14,693,336
78$18,119,307$3,645,495$1,954,750$16,013,246
79$19,834,650$3,691,298$1,887,408$17,463,719
80$21,720,773$3,735,162$1,813,626$19,058,003
81$23,794,966$3,776,858$1,733,056$20,810,696
82$26,076,275$3,816,146$1,645,336$22,737,884
83$28,585,685$3,852,768$1,550,085$24,857,297
84$31,346,318$3,886,447$1,446,906$27,188,471
85$34,383,650$3,916,890$1,335,385$29,752,935
86$37,725,750$3,943,786$1,215,088$32,574,416
87$41,403,546$3,966,800$1,085,563$35,679,060
88$45,451,115$3,985,581$946,336$39,095,682
89$49,906,005$3,999,750$796,914$42,856,037
90$54,809,588$4,008,908$636,781$46,995,118
91$60,207,451$4,012,630$465,399$51,551,491
92$66,149,826$4,010,464$282,204$56,567,655
93$72,692,061$4,001,930$86,611$62,090,446
94$79,895,145$3,986,518$0$68,171,479
95$87,826,282$3,963,689$0$74,885,878
96$96,559,522$3,932,869$0$82,293,080
97$106,176,463$3,893,451$0$90,449,314
98$116,767,021$3,844,788$0$99,430,814
99$128,430,273$3,786,199$0$109,321,589
100$141,275,397$3,716,959$0$120,214,210