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%13.9%
1 years$184,977$183,329$181,722$180,153$178,621$175,734
2 years$91,573$89,867$88,215$86,612$85,057$82,157
3 years$60,442$58,729$57,081$55,493$53,964$51,140
4 years$44,880$43,172$41,540$39,980$38,488$35,762
5 years$35,545$33,848$32,237$30,708$29,258$26,638
6 years$29,324$27,639$26,052$24,558$23,151$20,641
7 years$24,882$23,211$21,649$20,190$18,828$16,428
8 years$21,552$19,896$18,360$16,937$15,619$13,329
9 years$18,963$17,323$15,814$14,427$13,154$10,972
10 years$16,893$15,270$13,787$12,436$11,208$9,132
11 years$15,201$13,594$12,138$10,823$9,639$7,668
12 years$13,792$12,201$10,772$9,493$8,353$6,484
13 years$12,600$11,026$9,624$8,381$7,284$5,514
14 years$11,580$10,022$8,647$7,440$6,385$4,711
15 years$10,696$9,156$7,807$6,635$5,622$4,041
16 years$9,924$8,400$7,078$5,941$4,969$3,478
17 years$9,243$7,736$6,441$5,338$4,406$3,001
18 years$8,639$7,149$5,880$4,810$3,917$2,596
19 years$8,099$6,625$5,383$4,347$3,491$2,250
20 years$7,613$6,157$4,940$3,937$3,119$1,953
21 years$7,174$5,735$4,544$3,573$2,791$1,699
22 years$6,776$5,353$4,188$3,249$2,502$1,479
23 years$6,413$5,007$3,867$2,959$2,246$1,289
24 years$6,080$4,691$3,576$2,698$2,018$1,124
25 years$5,775$4,402$3,312$2,464$1,816$981
26 years$5,494$4,137$3,072$2,253$1,636$858
27 years$5,234$3,894$2,853$2,062$1,475$750
28 years$4,992$3,669$2,652$1,890$1,331$656
29 years$4,768$3,461$2,468$1,733$1,202$574
30 years$4,560$3,269$2,299$1,590$1,086$502
31 years$4,365$3,090$2,143$1,461$982$440
32 years$4,182$2,924$1,999$1,342$888$385
33 years$4,012$2,769$1,867$1,234$804$338
34 years$3,851$2,624$1,744$1,136$728$296
35 years$3,700$2,489$1,631$1,045$659$259
36 years$3,558$2,363$1,526$963$597$228
37 years$3,423$2,244$1,428$887$541$200
38 years$3,296$2,132$1,337$818$491$175
39 years$3,176$2,028$1,253$754$445$154
40 years$3,062$1,929$1,174$695$404$135
41 years$2,954$1,836$1,101$642$366$118
42 years$2,852$1,749$1,033$592$332$104
43 years$2,754$1,666$969$547$302$91
44 years$2,661$1,588$910$505$274$80
45 years$2,573$1,515$854$466$248$70
46 years$2,489$1,445$802$431$226$61
47 years$2,408$1,379$754$398$205$54
48 years$2,331$1,316$708$368$186$47
49 years$2,257$1,257$666$340$169$42
50 years$2,187$1,201$626$314$153$37

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 $5,836 every year, while hoping to spend $35,208 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: 53/42/5 Blend
53$2,240,000$2,240,000$2,240,000$2,240,000
54$2,474,500$2,355,780$2,321,060$2,602,647
55$2,689,438$2,433,752$2,361,354$2,767,937
56$2,925,119$2,514,365$2,401,819$2,943,287
57$3,183,623$2,597,710$2,442,421$3,133,180
58$3,467,239$2,683,884$2,483,129$3,338,995
59$3,778,489$2,772,986$2,523,905$3,562,245
60$4,120,150$2,865,117$2,564,711$3,804,598
61$4,495,282$2,960,385$2,605,506$4,067,884
62$4,907,257$3,058,900$2,646,246$4,354,120
63$5,359,787$3,160,776$2,686,885$4,665,521
64$5,856,963$3,266,132$2,727,373$5,004,526
65$6,403,290$3,375,090$2,767,658$5,373,820
66$7,003,734$3,487,777$2,807,683$5,776,354
67$7,663,764$3,604,327$2,847,389$6,215,379
68$8,389,404$3,724,876$2,886,713$6,694,471
69$9,187,294$3,849,565$2,925,588$7,217,565
70$10,064,747$3,978,543$2,963,944$7,788,997
71$11,029,821$4,111,961$3,001,706$8,413,534
72$12,091,395$4,249,979$3,038,795$9,096,429
73$13,259,249$4,392,761$3,075,127$9,843,463
74$14,544,163$4,540,476$3,110,614$10,661,001
75$15,958,011$4,693,302$3,145,163$11,556,053
76$17,513,877$4,851,423$3,178,675$12,536,336
77$19,226,178$5,015,028$3,211,046$13,610,349
78$21,110,799$5,184,316$3,242,167$14,787,452
79$23,185,243$5,359,490$3,271,922$16,077,952
80$25,468,796$5,540,764$3,300,190$17,493,200
81$27,982,710$5,728,358$3,326,843$19,045,699
82$30,750,400$5,922,501$3,351,746$20,749,220
83$33,797,668$6,123,431$3,374,757$22,618,931
84$37,152,946$6,331,394$3,395,727$24,671,537
85$40,847,561$6,546,647$3,414,498$26,925,441
86$44,916,035$6,769,455$3,430,906$29,400,915
87$49,396,407$7,000,095$3,444,778$32,120,289
88$54,330,593$7,238,852$3,455,931$35,108,161
89$59,764,782$7,486,025$3,464,173$38,391,629
90$65,749,872$7,741,922$3,469,305$42,000,547
91$72,341,947$8,006,864$3,471,115$45,967,803
92$79,602,809$8,281,184$3,469,381$50,329,628
93$87,600,562$8,565,229$3,463,871$55,125,938
94$96,410,251$8,859,357$3,454,343$60,400,713
95$106,114,573$9,163,942$3,440,540$66,202,401
96$116,804,656$9,479,371$3,422,194$72,584,386
97$128,580,918$9,806,048$3,399,025$79,605,482
98$141,554,019$10,144,391$3,370,739$87,330,488
99$155,845,898$10,494,835$3,337,028$95,830,801
100$171,590,929$10,857,832$3,297,569$105,185,086