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%11.6%
1 years$191,583$189,877$188,212$186,587$185,000$183,757
2 years$94,843$93,077$91,365$89,705$88,095$86,842
3 years$62,601$60,827$59,119$57,475$55,891$54,666
4 years$46,483$44,714$43,024$41,408$39,862$38,674
5 years$36,814$35,056$33,388$31,805$30,303$29,156
6 years$30,371$28,626$26,983$25,435$23,977$22,873
7 years$25,770$24,040$22,423$20,911$19,500$18,439
8 years$22,321$20,607$19,016$17,542$16,177$15,160
9 years$19,640$17,942$16,379$14,942$13,624$12,649
10 years$17,497$15,815$14,279$12,880$11,608$10,676
11 years$15,744$14,079$12,571$11,209$9,983$9,093
12 years$14,284$12,637$11,157$9,832$8,651$7,802
13 years$13,050$11,420$9,968$8,680$7,544$6,734
14 years$11,994$10,380$8,956$7,705$6,613$5,843
15 years$11,078$9,483$8,086$6,872$5,823$5,090
16 years$10,278$8,700$7,331$6,153$5,146$4,451
17 years$9,573$8,013$6,671$5,528$4,563$3,903
18 years$8,947$7,404$6,090$4,982$4,057$3,432
19 years$8,388$6,862$5,575$4,502$3,616$3,025
20 years$7,885$6,376$5,116$4,077$3,230$2,671
21 years$7,431$5,939$4,706$3,700$2,891$2,363
22 years$7,018$5,544$4,337$3,365$2,591$2,093
23 years$6,642$5,185$4,005$3,064$2,326$1,856
24 years$6,298$4,858$3,704$2,795$2,090$1,649
25 years$5,981$4,559$3,430$2,552$1,881$1,465
26 years$5,690$4,285$3,182$2,334$1,694$1,304
27 years$5,420$4,033$2,954$2,136$1,528$1,161
28 years$5,171$3,800$2,746$1,957$1,378$1,034
29 years$4,939$3,585$2,556$1,795$1,245$922
30 years$4,723$3,386$2,381$1,647$1,125$823
31 years$4,521$3,200$2,219$1,513$1,017$734
32 years$4,332$3,028$2,071$1,390$920$656
33 years$4,155$2,868$1,933$1,278$832$586
34 years$3,989$2,718$1,807$1,176$754$523
35 years$3,832$2,578$1,689$1,083$683$468
36 years$3,685$2,447$1,580$997$618$418
37 years$3,546$2,324$1,479$919$561$374
38 years$3,414$2,209$1,385$847$508$334
39 years$3,290$2,100$1,297$781$461$299
40 years$3,172$1,998$1,216$720$418$268
41 years$3,060$1,902$1,140$665$379$240
42 years$2,954$1,811$1,070$613$344$214
43 years$2,853$1,726$1,004$566$312$192
44 years$2,756$1,645$942$523$283$172
45 years$2,665$1,569$885$483$257$154
46 years$2,577$1,497$831$446$234$138
47 years$2,494$1,428$781$412$212$123
48 years$2,414$1,363$734$381$193$110
49 years$2,338$1,302$690$352$175$99
50 years$2,265$1,244$648$325$159$89

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 $5,831 every year, while hoping to spend $38,663 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: 33/46/21 Blend
53$2,320,000$2,320,000$2,320,000$2,320,000
54$2,562,655$2,439,695$2,403,735$2,630,499
55$2,782,908$2,518,103$2,443,123$2,759,962
56$3,024,332$2,599,057$2,482,534$2,895,457
57$3,289,044$2,682,641$2,521,930$3,040,690
58$3,579,378$2,768,942$2,561,266$3,196,541
59$3,897,905$2,858,050$2,600,498$3,363,979
60$4,247,453$2,950,057$2,639,577$3,544,067
61$4,631,143$3,045,059$2,678,452$3,737,975
62$5,052,408$3,143,155$2,717,069$3,946,988
63$5,515,032$3,244,448$2,755,369$4,172,518
64$6,023,183$3,349,044$2,793,292$4,416,119
65$6,581,453$3,457,052$2,830,772$4,679,500
66$7,194,898$3,568,585$2,867,740$4,964,541
67$7,869,093$3,683,761$2,904,125$5,273,307
68$8,610,176$3,802,700$2,939,848$5,608,074
69$9,424,909$3,925,528$2,974,828$5,971,344
70$10,320,745$4,052,374$3,008,980$6,365,871
71$11,305,893$4,183,372$3,042,213$6,794,685
72$12,389,398$4,318,661$3,074,431$7,261,121
73$13,581,224$4,458,383$3,105,532$7,768,852
74$14,892,353$4,602,688$3,135,411$8,321,917
75$16,334,880$4,751,727$3,163,955$8,924,767
76$17,922,136$4,905,660$3,191,045$9,582,299
77$19,668,807$5,064,649$3,216,558$10,299,906
78$21,591,074$5,228,866$3,240,362$11,083,528
79$23,706,768$5,398,485$3,262,318$11,939,701
80$26,035,535$5,573,688$3,282,283$12,875,628
81$28,599,022$5,754,661$3,300,102$13,899,239
82$31,421,083$5,941,600$3,315,616$15,019,266
83$34,528,001$6,134,706$3,328,656$16,245,328
84$37,948,736$6,334,185$3,339,045$17,588,019
85$41,715,200$6,540,254$3,346,597$19,059,008
86$45,862,559$6,753,134$3,351,116$20,671,148
87$50,429,559$6,973,057$3,352,397$22,438,597
88$55,458,896$7,200,259$3,350,225$24,376,950
89$60,997,621$7,434,989$3,344,374$26,503,388
90$67,097,575$7,677,500$3,334,608$28,836,834
91$73,815,888$7,928,058$3,320,678$31,398,139
92$81,215,512$8,186,936$3,302,324$34,210,272
93$89,365,814$8,454,416$3,279,272$37,298,536
94$98,343,237$8,730,792$3,251,237$40,690,810
95$108,232,013$9,016,367$3,217,920$44,417,807
96$119,124,964$9,311,455$3,179,006$48,513,367
97$131,124,375$9,616,380$3,134,166$53,014,772
98$144,342,958$9,931,480$3,083,058$57,963,099
99$158,904,920$10,257,103$3,025,320$63,403,608
100$174,947,129$10,593,608$2,960,576$69,386,164