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%19.1%
1 years$193,235$191,514$189,834$188,195$186,595$179,760
2 years$95,661$93,879$92,153$90,479$88,855$82,045
3 years$63,140$61,351$59,629$57,970$56,373$49,802
4 years$46,883$45,100$43,395$41,764$40,206$33,924
5 years$37,132$35,359$33,676$32,079$30,564$24,588
6 years$30,633$28,873$27,215$25,654$24,184$18,518
7 years$25,992$24,247$22,616$21,092$19,668$14,310
8 years$22,514$20,785$19,180$17,693$16,317$11,263
9 years$19,810$18,097$16,520$15,071$13,741$8,984
10 years$17,647$15,951$14,402$12,991$11,708$7,239
11 years$15,880$14,201$12,680$11,306$10,069$5,880
12 years$14,408$12,746$11,253$9,917$8,726$4,805
13 years$13,163$11,518$10,054$8,755$7,609$3,946
14 years$12,097$10,470$9,033$7,772$6,670$3,253
15 years$11,174$9,564$8,156$6,931$5,873$2,690
16 years$10,367$8,775$7,394$6,206$5,190$2,231
17 years$9,656$8,082$6,729$5,576$4,602$1,854
18 years$9,024$7,468$6,142$5,025$4,092$1,543
19 years$8,460$6,921$5,623$4,541$3,647$1,286
20 years$7,953$6,431$5,161$4,112$3,258$1,074
21 years$7,495$5,991$4,747$3,732$2,915$897
22 years$7,078$5,592$4,375$3,394$2,613$750
23 years$6,699$5,230$4,039$3,091$2,346$628
24 years$6,352$4,900$3,736$2,819$2,108$525
25 years$6,033$4,599$3,460$2,574$1,897$440
26 years$5,739$4,322$3,209$2,354$1,709$369
27 years$5,467$4,067$2,980$2,154$1,541$309
28 years$5,215$3,833$2,770$1,974$1,390$259
29 years$4,981$3,616$2,578$1,810$1,255$217
30 years$4,763$3,415$2,401$1,661$1,134$182
31 years$4,560$3,228$2,239$1,526$1,026$153
32 years$4,369$3,054$2,089$1,402$928$128
33 years$4,191$2,893$1,950$1,289$840$108
34 years$4,023$2,741$1,822$1,186$760$90
35 years$3,865$2,600$1,704$1,092$688$76
36 years$3,716$2,468$1,594$1,006$624$64
37 years$3,576$2,344$1,492$927$565$53
38 years$3,444$2,228$1,397$854$513$45
39 years$3,318$2,118$1,309$788$465$38
40 years$3,199$2,015$1,227$726$422$32
41 years$3,086$1,918$1,150$670$382$27
42 years$2,979$1,827$1,079$619$347$22
43 years$2,877$1,741$1,012$571$315$19
44 years$2,780$1,659$950$527$286$16
45 years$2,688$1,582$892$487$260$13
46 years$2,600$1,510$838$450$236$11
47 years$2,516$1,441$787$416$214$9
48 years$2,435$1,375$740$384$194$8
49 years$2,358$1,313$695$355$177$7
50 years$2,285$1,254$654$328$160$5

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 $2,779 every year, while hoping to spend $35,449 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: 60/24/16 Blend
53$2,340,000$2,340,000$2,340,000$2,340,000
54$2,581,547$2,457,527$2,421,257$2,725,780
55$2,807,147$2,540,228$2,464,651$2,906,122
56$3,054,570$2,625,793$2,508,311$3,098,573
57$3,326,005$2,714,326$2,552,209$3,307,690
58$3,623,863$2,805,933$2,596,313$3,535,088
59$3,950,797$2,900,725$2,640,590$3,782,546
60$4,309,735$2,998,816$2,685,005$4,052,020
61$4,703,896$3,100,326$2,729,522$4,345,666
62$5,136,831$3,205,380$2,774,098$4,665,854
63$5,612,449$3,314,104$2,818,691$5,015,195
64$6,135,057$3,426,634$2,863,256$5,396,562
65$6,709,400$3,543,107$2,907,743$5,813,121
66$7,340,707$3,663,667$2,952,100$6,268,355
67$8,034,736$3,788,463$2,996,272$6,766,100
68$8,797,832$3,917,651$3,040,200$7,310,582
69$9,636,985$4,051,390$3,083,821$7,906,453
70$10,559,898$4,189,849$3,127,070$8,558,837
71$11,575,056$4,333,200$3,169,875$9,273,376
72$12,691,809$4,481,624$3,212,163$10,056,286
73$13,920,458$4,635,308$3,253,855$10,914,412
74$15,272,353$4,794,446$3,294,867$11,855,294
75$16,759,999$4,959,240$3,335,112$12,887,237
76$18,397,176$5,129,900$3,374,495$14,019,389
77$20,199,067$5,306,644$3,412,919$15,261,828
78$22,182,399$5,489,697$3,450,279$16,625,655
79$24,365,607$5,679,295$3,486,467$18,123,099
80$26,769,001$5,875,682$3,521,365$19,767,632
81$29,414,961$6,079,113$3,554,853$21,574,096
82$32,328,148$6,289,851$3,586,802$23,558,843
83$35,535,736$6,508,170$3,617,076$25,739,885
84$39,067,666$6,734,355$3,645,533$28,137,068
85$42,956,932$6,968,703$3,672,023$30,772,260
86$47,239,891$7,211,521$3,696,387$33,669,549
87$51,956,604$7,463,130$3,718,461$36,855,479
88$57,151,217$7,723,863$3,738,069$40,359,292
89$62,872,374$7,994,065$3,755,027$44,213,210
90$69,173,679$8,274,097$3,769,143$48,452,735
91$76,114,199$8,564,332$3,780,214$53,116,983
92$83,759,023$8,865,160$3,788,027$58,249,053
93$92,179,876$9,176,986$3,792,359$63,896,436
94$101,455,796$9,500,231$3,792,975$70,111,459
95$111,673,877$9,835,332$3,789,630$76,951,777
96$122,930,094$10,182,745$3,782,064$84,480,924
97$135,330,208$10,542,944$3,770,008$92,768,901
98$148,990,763$10,916,422$3,753,177$101,892,846
99$164,040,186$11,303,692$3,731,273$111,937,755
100$180,620,000$11,705,288$3,703,986$122,997,285