Can I retire at age 54 with 2,370,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$195,712$193,969$192,268$190,608$188,987$188,112
2 years$96,887$95,083$93,334$91,639$89,994$89,110
3 years$63,950$62,138$60,393$58,714$57,096$56,231
4 years$47,484$45,678$43,951$42,300$40,721$39,882
5 years$37,608$35,812$34,108$32,490$30,956$30,145
6 years$31,025$29,243$27,564$25,983$24,494$23,713
7 years$26,326$24,558$22,906$21,362$19,920$19,169
8 years$22,802$21,051$19,426$17,920$16,526$15,804
9 years$20,064$18,329$16,732$15,264$13,917$13,225
10 years$17,874$16,156$14,587$13,158$11,858$11,195
11 years$16,083$14,383$12,842$11,451$10,198$9,564
12 years$14,592$12,909$11,397$10,044$8,838$8,232
13 years$13,332$11,666$10,183$8,867$7,707$7,129
14 years$12,252$10,604$9,149$7,872$6,756$6,205
15 years$11,317$9,687$8,260$7,020$5,948$5,424
16 years$10,500$8,888$7,489$6,286$5,257$4,759
17 years$9,780$8,185$6,815$5,648$4,661$4,188
18 years$9,140$7,564$6,221$5,090$4,145$3,695
19 years$8,569$7,010$5,695$4,599$3,694$3,268
20 years$8,055$6,514$5,227$4,165$3,300$2,897
21 years$7,591$6,067$4,808$3,780$2,953$2,571
22 years$7,169$5,664$4,431$3,437$2,647$2,286
23 years$6,785$5,297$4,091$3,130$2,376$2,036
24 years$6,433$4,963$3,784$2,855$2,136$1,815
25 years$6,110$4,658$3,504$2,607$1,922$1,619
26 years$5,813$4,377$3,250$2,384$1,731$1,446
27 years$5,537$4,120$3,018$2,182$1,561$1,293
28 years$5,282$3,882$2,806$1,999$1,408$1,157
29 years$5,045$3,662$2,611$1,833$1,272$1,035
30 years$4,824$3,458$2,432$1,683$1,149$927
31 years$4,618$3,269$2,267$1,545$1,039$831
32 years$4,425$3,094$2,115$1,420$940$745
33 years$4,244$2,930$1,975$1,306$850$668
34 years$4,074$2,777$1,845$1,202$770$599
35 years$3,915$2,634$1,725$1,106$697$538
36 years$3,764$2,500$1,614$1,019$632$483
37 years$3,622$2,374$1,511$939$573$434
38 years$3,488$2,256$1,415$865$519$390
39 years$3,361$2,145$1,325$798$471$350
40 years$3,240$2,041$1,242$736$427$315
41 years$3,126$1,943$1,165$679$387$283
42 years$3,017$1,851$1,093$626$352$254
43 years$2,914$1,763$1,025$578$319$228
44 years$2,816$1,681$963$534$290$205
45 years$2,722$1,603$904$493$263$185
46 years$2,633$1,529$849$456$239$166
47 years$2,548$1,459$797$421$217$149
48 years$2,466$1,393$749$389$197$134
49 years$2,388$1,330$704$359$179$121
50 years$2,314$1,271$662$332$162$109

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,370,000, adding $6,251 every year, while hoping to spend $39,829 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: 48/23/29 Blend
53$2,370,000$2,370,000$2,370,000$2,370,000
54$2,618,188$2,492,578$2,455,843$2,721,903
55$2,842,865$2,572,336$2,495,736$2,875,363
56$3,089,125$2,654,668$2,535,630$3,037,539
57$3,359,126$2,739,657$2,575,484$3,212,906
58$3,655,247$2,827,391$2,615,253$3,402,728
59$3,980,107$2,917,958$2,654,889$3,608,399
60$4,336,592$3,011,452$2,694,342$3,831,453
61$4,727,879$3,107,968$2,733,557$4,073,577
62$5,157,470$3,207,605$2,772,479$4,336,631
63$5,629,221$3,310,466$2,811,045$4,622,660
64$6,147,379$3,416,657$2,849,193$4,933,919
65$6,716,624$3,526,286$2,886,854$5,272,888
66$7,342,113$3,639,467$2,923,956$5,642,301
67$8,029,523$3,756,316$2,960,424$6,045,167
68$8,785,113$3,876,954$2,996,176$6,484,801
69$9,615,775$4,001,505$3,031,129$6,964,854
70$10,529,104$4,130,098$3,065,191$7,489,347
71$11,533,467$4,262,867$3,098,269$8,062,711
72$12,638,082$4,399,950$3,130,263$8,689,824
73$13,853,106$4,541,487$3,161,067$9,376,063
74$15,189,730$4,687,627$3,190,569$10,127,348
75$16,660,283$4,838,521$3,218,654$10,950,204
76$18,278,351$4,994,327$3,245,198$11,851,817
77$20,058,901$5,155,208$3,270,070$12,840,106
78$22,018,426$5,321,330$3,293,134$13,923,794
79$24,175,098$5,492,868$3,314,247$15,112,493
80$26,548,941$5,670,001$3,333,257$16,416,792
81$29,162,017$5,852,916$3,350,006$17,848,359
82$32,038,637$6,041,803$3,364,325$19,420,050
83$35,205,589$6,236,862$3,376,041$21,146,030
84$38,692,388$6,438,297$3,384,967$23,041,905
85$42,531,560$6,646,322$3,390,912$25,124,875
86$46,758,942$6,861,155$3,393,670$27,413,887
87$51,414,026$7,083,023$3,393,030$29,929,823
88$56,540,327$7,312,162$3,388,767$32,695,690
89$62,185,796$7,548,813$3,380,647$35,736,840
90$68,403,271$7,793,229$3,368,422$39,081,210
91$75,250,976$8,045,669$3,351,836$42,759,583
92$82,793,070$8,306,401$3,330,617$46,805,882
93$91,100,253$8,575,704$3,304,481$51,257,484
94$100,250,429$8,853,864$3,273,132$56,155,581
95$110,329,450$9,141,180$3,236,259$61,545,562
96$121,431,915$9,437,959$3,193,535$67,477,444
97$133,662,070$9,744,519$3,144,618$74,006,342
98$147,134,791$10,061,190$3,089,152$81,192,995
99$161,976,663$10,388,312$3,026,763$89,104,332
100$178,327,181$10,726,238$2,957,058$97,814,108