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%16.4%
1 years$193,235$191,514$189,834$188,195$186,595$181,715
2 years$95,661$93,879$92,153$90,479$88,855$83,972
3 years$63,140$61,351$59,629$57,970$56,373$51,640
4 years$46,883$45,100$43,395$41,764$40,206$35,658
5 years$37,132$35,359$33,676$32,079$30,564$26,215
6 years$30,633$28,873$27,215$25,654$24,184$20,038
7 years$25,992$24,247$22,616$21,092$19,668$15,725
8 years$22,514$20,785$19,180$17,693$16,317$12,575
9 years$19,810$18,097$16,520$15,071$13,741$10,197
10 years$17,647$15,951$14,402$12,991$11,708$8,357
11 years$15,880$14,201$12,680$11,306$10,069$6,907
12 years$14,408$12,746$11,253$9,917$8,726$5,746
13 years$13,163$11,518$10,054$8,755$7,609$4,806
14 years$12,097$10,470$9,033$7,772$6,670$4,037
15 years$11,174$9,564$8,156$6,931$5,873$3,403
16 years$10,367$8,775$7,394$6,206$5,190$2,878
17 years$9,656$8,082$6,729$5,576$4,602$2,439
18 years$9,024$7,468$6,142$5,025$4,092$2,071
19 years$8,460$6,921$5,623$4,541$3,647$1,762
20 years$7,953$6,431$5,161$4,112$3,258$1,501
21 years$7,495$5,991$4,747$3,732$2,915$1,281
22 years$7,078$5,592$4,375$3,394$2,613$1,094
23 years$6,699$5,230$4,039$3,091$2,346$935
24 years$6,352$4,900$3,736$2,819$2,108$800
25 years$6,033$4,599$3,460$2,574$1,897$684
26 years$5,739$4,322$3,209$2,354$1,709$586
27 years$5,467$4,067$2,980$2,154$1,541$502
28 years$5,215$3,833$2,770$1,974$1,390$430
29 years$4,981$3,616$2,578$1,810$1,255$369
30 years$4,763$3,415$2,401$1,661$1,134$316
31 years$4,560$3,228$2,239$1,526$1,026$271
32 years$4,369$3,054$2,089$1,402$928$233
33 years$4,191$2,893$1,950$1,289$840$200
34 years$4,023$2,741$1,822$1,186$760$172
35 years$3,865$2,600$1,704$1,092$688$147
36 years$3,716$2,468$1,594$1,006$624$126
37 years$3,576$2,344$1,492$927$565$109
38 years$3,444$2,228$1,397$854$513$93
39 years$3,318$2,118$1,309$788$465$80
40 years$3,199$2,015$1,227$726$422$69
41 years$3,086$1,918$1,150$670$382$59
42 years$2,979$1,827$1,079$619$347$51
43 years$2,877$1,741$1,012$571$315$44
44 years$2,780$1,659$950$527$286$37
45 years$2,688$1,582$892$487$260$32
46 years$2,600$1,510$838$450$236$28
47 years$2,516$1,441$787$416$214$24
48 years$2,435$1,375$740$384$194$20
49 years$2,358$1,313$695$355$177$17
50 years$2,285$1,254$654$328$160$15

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 $6,195 every year, while hoping to spend $32,351 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: 51/20/29 Blend
53$2,340,000$2,340,000$2,340,000$2,340,000
54$2,585,070$2,461,050$2,424,780$2,695,475
55$2,814,326$2,547,220$2,471,589$2,859,349
56$3,065,882$2,636,529$2,518,882$3,033,717
57$3,341,978$2,729,095$2,566,640$3,222,703
58$3,645,082$2,825,043$2,614,845$3,427,714
59$3,977,913$2,924,502$2,663,475$3,650,298
60$4,343,465$3,027,608$2,712,507$3,892,161
61$4,745,037$3,134,500$2,761,914$4,155,177
62$5,186,264$3,245,323$2,811,671$4,441,412
63$5,671,148$3,360,229$2,861,748$4,753,139
64$6,204,102$3,479,377$2,912,112$5,092,861
65$6,789,983$3,602,929$2,962,731$5,463,333
66$7,434,145$3,731,056$3,013,566$5,867,588
67$8,142,487$3,863,937$3,064,580$6,308,968
68$8,921,506$4,001,756$3,115,729$6,791,149
69$9,778,363$4,144,705$3,166,969$7,318,184
70$10,720,946$4,292,985$3,218,252$7,894,533
71$11,757,945$4,446,804$3,269,527$8,525,110
72$12,898,937$4,606,380$3,320,738$9,215,326
73$14,154,474$4,771,937$3,371,827$9,971,140
74$15,536,180$4,943,712$3,422,734$10,799,118
75$17,056,866$5,121,949$3,473,391$11,706,491
76$18,730,646$5,306,904$3,523,728$12,701,223
77$20,573,071$5,498,842$3,573,673$13,792,089
78$22,601,279$5,698,040$3,623,146$14,988,756
79$24,834,151$5,904,786$3,672,063$16,301,869
80$27,292,494$6,119,379$3,720,336$17,743,160
81$29,999,233$6,342,134$3,767,872$19,325,552
82$32,979,631$6,573,375$3,814,573$21,063,280
83$36,261,525$6,813,442$3,860,332$22,972,030
84$39,875,589$7,062,688$3,905,041$25,069,082
85$43,855,621$7,321,482$3,948,582$27,373,476
86$48,238,867$7,590,208$3,990,833$29,906,186
87$53,066,369$7,869,265$4,031,663$32,690,325
88$58,383,351$8,159,071$4,070,936$35,751,357
89$64,239,647$8,460,061$4,108,507$39,117,336
90$70,690,174$8,772,686$4,144,224$42,819,178
91$77,795,443$9,097,420$4,177,928$46,890,942
92$85,622,139$9,434,754$4,209,449$51,370,158
93$94,243,742$9,785,201$4,238,610$56,298,179
94$103,741,224$10,149,297$4,265,224$61,720,571
95$114,203,816$10,527,599$4,289,096$67,687,539
96$125,729,843$10,920,690$4,310,019$74,254,406
97$138,427,658$11,329,174$4,327,775$81,482,131
98$152,416,661$11,753,686$4,342,138$89,437,882
99$167,828,428$12,194,884$4,352,867$98,195,677
100$184,807,951$12,653,456$4,359,711$107,837,072