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%15.6%
1 years$191,583$189,877$188,212$186,587$185,000$180,748
2 years$94,843$93,077$91,365$89,705$88,095$83,835
3 years$62,601$60,827$59,119$57,475$55,891$51,756
4 years$46,483$44,714$43,024$41,408$39,862$35,883
5 years$36,814$35,056$33,388$31,805$30,303$26,491
6 years$30,371$28,626$26,983$25,435$23,977$20,338
7 years$25,770$24,040$22,423$20,911$19,500$16,033
8 years$22,321$20,607$19,016$17,542$16,177$12,881
9 years$19,640$17,942$16,379$14,942$13,624$10,495
10 years$17,497$15,815$14,279$12,880$11,608$8,645
11 years$15,744$14,079$12,571$11,209$9,983$7,181
12 years$14,284$12,637$11,157$9,832$8,651$6,006
13 years$13,050$11,420$9,968$8,680$7,544$5,050
14 years$11,994$10,380$8,956$7,705$6,613$4,265
15 years$11,078$9,483$8,086$6,872$5,823$3,616
16 years$10,278$8,700$7,331$6,153$5,146$3,075
17 years$9,573$8,013$6,671$5,528$4,563$2,621
18 years$8,947$7,404$6,090$4,982$4,057$2,239
19 years$8,388$6,862$5,575$4,502$3,616$1,917
20 years$7,885$6,376$5,116$4,077$3,230$1,643
21 years$7,431$5,939$4,706$3,700$2,891$1,410
22 years$7,018$5,544$4,337$3,365$2,591$1,212
23 years$6,642$5,185$4,005$3,064$2,326$1,042
24 years$6,298$4,858$3,704$2,795$2,090$897
25 years$5,981$4,559$3,430$2,552$1,881$773
26 years$5,690$4,285$3,182$2,334$1,694$666
27 years$5,420$4,033$2,954$2,136$1,528$574
28 years$5,171$3,800$2,746$1,957$1,378$495
29 years$4,939$3,585$2,556$1,795$1,245$428
30 years$4,723$3,386$2,381$1,647$1,125$369
31 years$4,521$3,200$2,219$1,513$1,017$319
32 years$4,332$3,028$2,071$1,390$920$275
33 years$4,155$2,868$1,933$1,278$832$238
34 years$3,989$2,718$1,807$1,176$754$205
35 years$3,832$2,578$1,689$1,083$683$178
36 years$3,685$2,447$1,580$997$618$153
37 years$3,546$2,324$1,479$919$561$133
38 years$3,414$2,209$1,385$847$508$115
39 years$3,290$2,100$1,297$781$461$99
40 years$3,172$1,998$1,216$720$418$86
41 years$3,060$1,902$1,140$665$379$74
42 years$2,954$1,811$1,070$613$344$64
43 years$2,853$1,726$1,004$566$312$55
44 years$2,756$1,645$942$523$283$48
45 years$2,665$1,569$885$483$257$41
46 years$2,577$1,497$831$446$234$36
47 years$2,494$1,428$781$412$212$31
48 years$2,414$1,363$734$381$193$27
49 years$2,338$1,302$690$352$175$23
50 years$2,265$1,244$648$325$159$20

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 $6,194 every year, while hoping to spend $31,057 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: 73/15/12 Blend
53$2,320,000$2,320,000$2,320,000$2,320,000
54$2,563,029$2,440,069$2,404,109$2,743,409
55$2,791,414$2,526,588$2,451,602$2,950,023
56$3,042,053$2,616,306$2,499,646$3,171,817
57$3,317,183$2,709,346$2,548,225$3,413,905
58$3,619,269$2,805,837$2,597,324$3,678,289
59$3,951,026$2,905,914$2,646,925$3,967,170
60$4,315,443$3,009,717$2,697,010$4,282,975
61$4,715,815$3,117,390$2,747,557$4,628,374
62$5,155,772$3,229,086$2,798,544$5,006,308
63$5,639,311$3,344,961$2,849,945$5,420,015
64$6,170,837$3,465,180$2,901,734$5,873,060
65$6,755,202$3,589,914$2,953,883$6,369,371
66$7,397,753$3,719,341$3,006,358$6,913,273
67$8,104,381$3,853,645$3,059,128$7,509,529
68$8,881,574$3,993,020$3,112,155$8,163,387
69$9,736,483$4,137,666$3,165,401$8,880,625
70$10,676,986$4,287,794$3,218,824$9,667,608
71$11,711,763$4,443,620$3,272,379$10,531,348
72$12,850,378$4,605,372$3,326,018$11,479,568
73$14,103,367$4,773,286$3,379,690$12,520,777
74$15,482,343$4,947,609$3,433,342$13,664,348
75$17,000,097$5,128,598$3,486,915$14,920,604
76$18,670,727$5,316,519$3,540,346$16,300,921
77$20,509,765$5,511,652$3,593,571$17,817,830
78$22,534,325$5,714,287$3,646,520$19,485,136
79$24,763,266$5,924,727$3,699,119$21,318,048
80$27,217,369$6,143,288$3,751,288$23,333,324
81$29,919,529$6,370,297$3,802,945$25,549,424
82$32,894,978$6,606,099$3,854,001$27,986,689
83$36,171,518$6,851,051$3,904,362$30,667,530
84$39,779,785$7,105,524$3,953,931$33,616,639
85$43,753,537$7,369,908$4,002,601$36,861,219
86$48,129,972$7,644,608$4,050,262$40,431,247
87$52,950,080$7,930,045$4,096,797$44,359,751
88$58,259,032$8,226,661$4,142,083$48,683,120
89$64,106,600$8,534,914$4,185,990$53,441,452
90$70,547,632$8,855,284$4,228,380$58,678,928
91$77,642,568$9,188,270$4,269,107$64,444,231
92$85,458,007$9,534,393$4,308,020$70,791,001
93$94,067,343$9,894,197$4,344,958$77,778,345
94$103,551,448$10,268,249$4,379,750$85,471,390
95$113,999,443$10,657,140$4,412,219$93,941,902
96$125,509,534$11,061,488$4,442,176$103,268,959
97$138,189,942$11,481,936$4,469,425$113,539,696
98$152,159,923$11,919,158$4,493,757$124,850,129
99$167,550,892$12,373,853$4,514,954$137,306,062
100$184,507,665$12,846,754$4,532,788$151,024,080