Can I retire at age 54 with 2,340,000?

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$193,235$191,514$189,834$188,195$186,595$181,276
2 years$95,661$93,879$92,153$90,479$88,855$83,537
3 years$63,140$61,351$59,629$57,970$56,373$51,224
4 years$46,883$45,100$43,395$41,764$40,206$35,264
5 years$37,132$35,359$33,676$32,079$30,564$25,843
6 years$30,633$28,873$27,215$25,654$24,184$19,689
7 years$25,992$24,247$22,616$21,092$19,668$15,399
8 years$22,514$20,785$19,180$17,693$16,317$12,271
9 years$19,810$18,097$16,520$15,071$13,741$9,914
10 years$17,647$15,951$14,402$12,991$11,708$8,095
11 years$15,880$14,201$12,680$11,306$10,069$6,665
12 years$14,408$12,746$11,253$9,917$8,726$5,523
13 years$13,163$11,518$10,054$8,755$7,609$4,600
14 years$12,097$10,470$9,033$7,772$6,670$3,849
15 years$11,174$9,564$8,156$6,931$5,873$3,231
16 years$10,367$8,775$7,394$6,206$5,190$2,720
17 years$9,656$8,082$6,729$5,576$4,602$2,295
18 years$9,024$7,468$6,142$5,025$4,092$1,941
19 years$8,460$6,921$5,623$4,541$3,647$1,644
20 years$7,953$6,431$5,161$4,112$3,258$1,394
21 years$7,495$5,991$4,747$3,732$2,915$1,184
22 years$7,078$5,592$4,375$3,394$2,613$1,006
23 years$6,699$5,230$4,039$3,091$2,346$856
24 years$6,352$4,900$3,736$2,819$2,108$729
25 years$6,033$4,599$3,460$2,574$1,897$621
26 years$5,739$4,322$3,209$2,354$1,709$529
27 years$5,467$4,067$2,980$2,154$1,541$451
28 years$5,215$3,833$2,770$1,974$1,390$385
29 years$4,981$3,616$2,578$1,810$1,255$328
30 years$4,763$3,415$2,401$1,661$1,134$280
31 years$4,560$3,228$2,239$1,526$1,026$239
32 years$4,369$3,054$2,089$1,402$928$204
33 years$4,191$2,893$1,950$1,289$840$174
34 years$4,023$2,741$1,822$1,186$760$149
35 years$3,865$2,600$1,704$1,092$688$127
36 years$3,716$2,468$1,594$1,006$624$109
37 years$3,576$2,344$1,492$927$565$93
38 years$3,444$2,228$1,397$854$513$79
39 years$3,318$2,118$1,309$788$465$68
40 years$3,199$2,015$1,227$726$422$58
41 years$3,086$1,918$1,150$670$382$49
42 years$2,979$1,827$1,079$619$347$42
43 years$2,877$1,741$1,012$571$315$36
44 years$2,780$1,659$950$527$286$31
45 years$2,688$1,582$892$487$260$26
46 years$2,600$1,510$838$450$236$23
47 years$2,516$1,441$787$416$214$19
48 years$2,435$1,375$740$384$194$16
49 years$2,358$1,313$695$355$177$14
50 years$2,285$1,254$654$328$160$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,340,000, adding $5,916 every year, while hoping to spend $59,040 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: 57/35/8 Blend
53$2,340,000$2,340,000$2,340,000$2,340,000
54$2,584,782$2,460,762$2,424,492$2,727,055
55$2,785,612$2,518,522$2,442,895$2,881,306
56$3,004,948$2,577,132$2,459,935$3,042,162
57$3,244,614$2,636,574$2,475,505$3,215,976
58$3,506,622$2,696,823$2,489,491$3,403,994
59$3,793,182$2,757,852$2,501,774$3,607,586
60$4,106,731$2,819,631$2,512,228$3,828,260
61$4,449,952$2,882,127$2,520,722$4,067,679
62$4,825,798$2,945,302$2,527,116$4,327,672
63$5,237,521$3,009,114$2,531,267$4,610,255
64$5,688,704$3,073,517$2,533,020$4,917,649
65$6,183,292$3,138,459$2,532,217$5,252,301
66$6,725,630$3,203,886$2,528,688$5,616,905
67$7,320,503$3,269,735$2,522,257$6,014,430
68$7,973,182$3,335,939$2,512,741$6,448,148
69$8,689,473$3,402,427$2,499,944$6,921,663
70$9,475,771$3,469,117$2,483,664$7,438,945
71$10,339,120$3,535,925$2,463,687$8,004,372
72$11,287,281$3,602,755$2,439,791$8,622,764
73$12,328,801$3,669,508$2,411,742$9,299,436
74$13,473,099$3,736,074$2,379,295$10,040,241
75$14,730,548$3,802,335$2,342,195$10,851,634
76$16,112,577$3,868,163$2,300,172$11,740,723
77$17,631,778$3,933,421$2,252,945$12,715,344
78$19,302,023$3,997,961$2,200,222$13,784,134
79$21,138,594$4,061,627$2,141,695$14,956,608
80$23,158,330$4,124,246$2,077,041$16,243,255
81$25,379,783$4,185,637$2,005,925$17,655,633
82$27,823,392$4,245,604$1,927,995$19,206,481
83$30,511,677$4,303,938$1,842,882$20,909,837
84$33,469,452$4,360,415$1,750,202$22,781,175
85$36,724,056$4,414,795$1,649,554$24,837,545
86$40,305,612$4,466,823$1,540,516$27,097,741
87$44,247,312$4,516,224$1,422,651$29,582,477
88$48,585,726$4,562,708$1,295,498$32,314,578
89$53,361,152$4,605,963$1,158,580$35,319,204
90$58,617,992$4,645,657$1,011,394$38,624,083
91$64,405,171$4,681,437$853,419$42,259,773
92$70,776,598$4,712,928$684,108$46,259,956
93$77,791,677$4,739,727$502,892$50,661,750
94$85,515,863$4,761,409$309,174$55,506,066
95$94,021,284$4,777,521$102,335$60,837,992
96$103,387,416$4,787,581$0$66,707,221
97$113,701,837$4,791,076$0$73,178,627
98$125,061,048$4,787,463$0$80,312,441
99$137,571,391$4,776,165$0$88,166,504
100$151,350,043$4,756,567$0$96,814,195