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

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 $2,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$195,712$193,969$192,268$190,608$188,987$185,247
2 years$96,887$95,083$93,334$91,639$89,994$86,242
3 years$63,950$62,138$60,393$58,714$57,096$53,448
4 years$47,484$45,678$43,951$42,300$40,721$37,207
5 years$37,608$35,812$34,108$32,490$30,956$27,584
6 years$31,025$29,243$27,564$25,983$24,494$21,269
7 years$26,326$24,558$22,906$21,362$19,920$16,843
8 years$22,802$21,051$19,426$17,920$16,526$13,595
9 years$20,064$18,329$16,732$15,264$13,917$11,130
10 years$17,874$16,156$14,587$13,158$11,858$9,213
11 years$16,083$14,383$12,842$11,451$10,198$7,692
12 years$14,592$12,909$11,397$10,044$8,838$6,467
13 years$13,332$11,666$10,183$8,867$7,707$5,467
14 years$12,252$10,604$9,149$7,872$6,756$4,643
15 years$11,317$9,687$8,260$7,020$5,948$3,958
16 years$10,500$8,888$7,489$6,286$5,257$3,385
17 years$9,780$8,185$6,815$5,648$4,661$2,902
18 years$9,140$7,564$6,221$5,090$4,145$2,494
19 years$8,569$7,010$5,695$4,599$3,694$2,147
20 years$8,055$6,514$5,227$4,165$3,300$1,852
21 years$7,591$6,067$4,808$3,780$2,953$1,599
22 years$7,169$5,664$4,431$3,437$2,647$1,382
23 years$6,785$5,297$4,091$3,130$2,376$1,196
24 years$6,433$4,963$3,784$2,855$2,136$1,036
25 years$6,110$4,658$3,504$2,607$1,922$898
26 years$5,813$4,377$3,250$2,384$1,731$779
27 years$5,537$4,120$3,018$2,182$1,561$676
28 years$5,282$3,882$2,806$1,999$1,408$587
29 years$5,045$3,662$2,611$1,833$1,272$510
30 years$4,824$3,458$2,432$1,683$1,149$443
31 years$4,618$3,269$2,267$1,545$1,039$385
32 years$4,425$3,094$2,115$1,420$940$335
33 years$4,244$2,930$1,975$1,306$850$291
34 years$4,074$2,777$1,845$1,202$770$254
35 years$3,915$2,634$1,725$1,106$697$221
36 years$3,764$2,500$1,614$1,019$632$192
37 years$3,622$2,374$1,511$939$573$167
38 years$3,488$2,256$1,415$865$519$145
39 years$3,361$2,145$1,325$798$471$127
40 years$3,240$2,041$1,242$736$427$110
41 years$3,126$1,943$1,165$679$387$96
42 years$3,017$1,851$1,093$626$352$84
43 years$2,914$1,763$1,025$578$319$73
44 years$2,816$1,681$963$534$290$63
45 years$2,722$1,603$904$493$263$55
46 years$2,633$1,529$849$456$239$48
47 years$2,548$1,459$797$421$217$42
48 years$2,466$1,393$749$389$197$36
49 years$2,388$1,330$704$359$179$32
50 years$2,314$1,271$662$332$162$28

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 $4,198 every year, while hoping to spend $21,170 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: 68/20/12 Blend
53$2,370,000$2,370,000$2,370,000$2,370,000
54$2,616,070$2,490,460$2,453,725$2,786,828
55$2,860,385$2,589,968$2,513,400$3,000,419
56$3,128,910$2,693,642$2,574,365$3,231,011
57$3,424,092$2,801,665$2,636,640$3,482,657
58$3,748,629$2,914,225$2,700,246$3,757,418
59$4,105,489$3,031,522$2,765,205$4,057,564
60$4,497,946$3,153,764$2,831,536$4,385,595
61$4,929,605$3,281,167$2,899,261$4,744,261
62$5,404,438$3,413,958$2,968,400$5,136,587
63$5,926,823$3,552,374$3,038,974$5,565,907
64$6,501,582$3,696,663$3,111,002$6,035,889
65$7,134,028$3,847,085$3,184,506$6,550,571
66$7,830,017$4,003,909$3,259,504$7,114,401
67$8,595,998$4,167,420$3,336,017$7,732,273
68$9,439,080$4,337,914$3,414,064$8,409,579
69$10,367,094$4,515,700$3,493,663$9,152,256
70$11,388,670$4,701,102$3,574,833$9,966,839
71$12,513,318$4,894,458$3,657,593$10,860,529
72$13,751,513$5,096,125$3,741,960$11,841,253
73$15,114,803$5,306,470$3,827,951$12,917,743
74$16,615,909$5,525,883$3,915,583$14,099,616
75$18,268,848$5,754,767$4,004,871$15,397,462
76$20,089,067$5,993,548$4,095,832$16,822,948
77$22,093,588$6,242,668$4,188,478$18,388,925
78$24,301,167$6,502,591$4,282,825$20,109,545
79$26,732,470$6,773,802$4,378,884$22,000,401
80$29,410,273$7,056,810$4,476,667$24,078,665
81$32,359,671$7,352,143$4,576,186$26,363,258
82$35,608,318$7,660,359$4,677,449$28,875,019
83$39,186,689$7,982,039$4,780,465$31,636,907
84$43,128,362$8,317,790$4,885,242$34,674,215
85$47,470,342$8,668,248$4,991,784$38,014,806
86$52,253,404$9,034,080$5,100,097$41,689,375
87$57,522,484$9,415,982$5,210,182$45,731,743
88$63,327,095$9,814,683$5,322,041$50,179,166
89$69,721,802$10,230,946$5,435,673$55,072,692
90$76,766,732$10,665,569$5,551,075$60,457,547
91$84,528,145$11,119,388$5,668,241$66,383,556
92$93,079,054$11,593,276$5,787,166$72,905,616
93$102,499,921$12,088,151$5,907,840$80,084,214
94$112,879,411$12,604,968$6,030,250$87,985,990
95$124,315,231$13,144,731$6,154,383$96,684,370
96$136,915,050$13,708,489$6,280,221$106,260,258
97$150,797,521$14,297,341$6,407,744$116,802,794
98$166,093,394$14,912,436$6,536,929$128,410,195
99$182,946,753$15,554,978$6,667,750$141,190,682
100$201,516,378$16,226,228$6,800,175$155,263,498