Can I retire at age 54 with 2,320,000?

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 $2,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$191,583$189,877$188,212$186,587$185,000$180,381
2 years$94,843$93,077$91,365$89,705$88,095$83,471
3 years$62,601$60,827$59,119$57,475$55,891$51,406
4 years$46,483$44,714$43,024$41,408$39,862$35,551
5 years$36,814$35,056$33,388$31,805$30,303$26,177
6 years$30,371$28,626$26,983$25,435$23,977$20,042
7 years$25,770$24,040$22,423$20,911$19,500$15,755
8 years$22,321$20,607$19,016$17,542$16,177$12,621
9 years$19,640$17,942$16,379$14,942$13,624$10,253
10 years$17,497$15,815$14,279$12,880$11,608$8,419
11 years$15,744$14,079$12,571$11,209$9,983$6,971
12 years$14,284$12,637$11,157$9,832$8,651$5,811
13 years$13,050$11,420$9,968$8,680$7,544$4,870
14 years$11,994$10,380$8,956$7,705$6,613$4,099
15 years$11,078$9,483$8,086$6,872$5,823$3,463
16 years$10,278$8,700$7,331$6,153$5,146$2,934
17 years$9,573$8,013$6,671$5,528$4,563$2,492
18 years$8,947$7,404$6,090$4,982$4,057$2,122
19 years$8,388$6,862$5,575$4,502$3,616$1,809
20 years$7,885$6,376$5,116$4,077$3,230$1,545
21 years$7,431$5,939$4,706$3,700$2,891$1,321
22 years$7,018$5,544$4,337$3,365$2,591$1,131
23 years$6,642$5,185$4,005$3,064$2,326$969
24 years$6,298$4,858$3,704$2,795$2,090$830
25 years$5,981$4,559$3,430$2,552$1,881$712
26 years$5,690$4,285$3,182$2,334$1,694$612
27 years$5,420$4,033$2,954$2,136$1,528$525
28 years$5,171$3,800$2,746$1,957$1,378$451
29 years$4,939$3,585$2,556$1,795$1,245$388
30 years$4,723$3,386$2,381$1,647$1,125$333
31 years$4,521$3,200$2,219$1,513$1,017$287
32 years$4,332$3,028$2,071$1,390$920$247
33 years$4,155$2,868$1,933$1,278$832$212
34 years$3,989$2,718$1,807$1,176$754$183
35 years$3,832$2,578$1,689$1,083$683$157
36 years$3,685$2,447$1,580$997$618$135
37 years$3,546$2,324$1,479$919$561$116
38 years$3,414$2,209$1,385$847$508$100
39 years$3,290$2,100$1,297$781$461$86
40 years$3,172$1,998$1,216$720$418$74
41 years$3,060$1,902$1,140$665$379$64
42 years$2,954$1,811$1,070$613$344$55
43 years$2,853$1,726$1,004$566$312$47
44 years$2,756$1,645$942$523$283$41
45 years$2,665$1,569$885$483$257$35
46 years$2,577$1,497$831$446$234$30
47 years$2,494$1,428$781$412$212$26
48 years$2,414$1,363$734$381$193$22
49 years$2,338$1,302$690$352$175$19
50 years$2,265$1,244$648$325$159$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,320,000, adding $2,663 every year, while hoping to spend $56,171 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: 56/26/18 Blend
53$2,320,000$2,320,000$2,320,000$2,320,000
54$2,559,387$2,436,427$2,400,467$2,690,310
55$2,760,679$2,496,046$2,421,117$2,839,378
56$2,980,620$2,556,704$2,440,576$2,995,415
57$3,221,053$2,618,393$2,458,746$3,164,143
58$3,484,007$2,681,101$2,475,520$3,346,793
59$3,771,717$2,744,816$2,490,791$3,544,719
60$4,086,641$2,809,521$2,504,442$3,759,415
61$4,431,490$2,875,199$2,516,352$3,992,523
62$4,809,245$2,941,827$2,526,393$4,245,855
63$5,223,193$3,009,381$2,534,431$4,521,408
64$5,676,950$3,077,832$2,540,326$4,821,380
65$6,174,501$3,147,148$2,543,930$5,148,194
66$6,720,236$3,217,294$2,545,087$5,504,519
67$7,318,988$3,288,229$2,543,635$5,893,298
68$7,976,081$3,359,908$2,539,403$6,317,773
69$8,697,379$3,432,283$2,532,212$6,781,517
70$9,489,344$3,505,297$2,521,873$7,288,465
71$10,359,092$3,578,891$2,508,191$7,842,958
72$11,314,462$3,652,999$2,490,958$8,449,777
73$12,364,090$3,727,549$2,469,957$9,114,192
74$13,517,490$3,802,461$2,444,964$9,842,009
75$14,785,143$3,877,651$2,415,739$10,639,632
76$16,178,596$3,953,024$2,382,035$11,514,112
77$17,710,570$4,028,480$2,343,590$12,473,226
78$19,395,081$4,103,908$2,300,133$13,525,542
79$21,247,570$4,179,191$2,251,379$14,680,505
80$23,285,050$4,254,199$2,197,028$15,948,522
81$25,526,265$4,328,795$2,136,768$17,341,066
82$27,991,868$4,402,829$2,070,273$18,870,781
83$30,704,612$4,476,142$1,997,202$20,551,601
84$33,689,570$4,548,560$1,917,195$22,398,887
85$36,974,367$4,619,900$1,829,881$24,429,566
86$40,589,438$4,689,961$1,734,869$26,662,294
87$44,568,324$4,758,532$1,631,749$29,117,636
88$48,947,976$4,825,383$1,520,097$31,818,255
89$53,769,114$4,890,271$1,399,464$34,789,130
90$59,076,604$4,952,935$1,269,387$38,057,791
91$64,919,884$5,013,095$1,129,378$41,654,581
92$71,353,429$5,070,454$978,928$45,612,943
93$78,437,264$5,124,691$817,508$49,969,733
94$86,237,533$5,175,469$644,562$54,765,575
95$94,827,119$5,222,425$459,513$60,045,241
96$104,286,333$5,265,171$261,754$65,858,075
97$114,703,673$5,303,299$50,657$72,258,462
98$126,176,656$5,336,368$0$79,306,340
99$138,812,739$5,363,915$0$87,101,306
100$152,730,333$5,385,442$0$95,695,191