Can I retire at age 54 with 2,390,000?

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 $2,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$197,364$195,606$193,891$192,217$190,582$185,448
2 years$97,705$95,885$94,122$92,412$90,753$85,618
3 years$64,490$62,662$60,903$59,209$57,578$52,601
4 years$47,885$46,063$44,322$42,657$41,065$36,286
5 years$37,925$36,114$34,396$32,765$31,217$26,648
6 years$31,287$29,490$27,797$26,202$24,701$20,347
7 years$26,548$24,766$23,099$21,542$20,088$15,949
8 years$22,995$21,229$19,590$18,071$16,665$12,739
9 years$20,233$18,483$16,873$15,393$14,035$10,318
10 years$18,025$16,292$14,710$13,269$11,958$8,446
11 years$16,219$14,504$12,951$11,548$10,284$6,971
12 years$14,715$13,018$11,493$10,129$8,912$5,792
13 years$13,444$11,764$10,268$8,942$7,772$4,838
14 years$12,355$10,694$9,226$7,938$6,813$4,058
15 years$11,413$9,769$8,330$7,079$5,998$3,416
16 years$10,589$8,963$7,552$6,339$5,301$2,884
17 years$9,862$8,254$6,872$5,695$4,701$2,441
18 years$9,217$7,627$6,274$5,133$4,180$2,070
19 years$8,641$7,069$5,743$4,638$3,725$1,759
20 years$8,123$6,569$5,271$4,200$3,327$1,496
21 years$7,655$6,119$4,848$3,812$2,978$1,274
22 years$7,230$5,711$4,468$3,466$2,669$1,086
23 years$6,842$5,342$4,126$3,157$2,396$927
24 years$6,488$5,005$3,816$2,879$2,154$792
25 years$6,162$4,697$3,534$2,629$1,938$677
26 years$5,862$4,414$3,278$2,404$1,746$578
27 years$5,584$4,154$3,044$2,201$1,574$495
28 years$5,327$3,915$2,829$2,016$1,420$423
29 years$5,088$3,693$2,633$1,849$1,282$362
30 years$4,865$3,488$2,453$1,697$1,159$310
31 years$4,657$3,297$2,286$1,558$1,047$266
32 years$4,463$3,120$2,133$1,432$948$228
33 years$4,280$2,954$1,992$1,317$858$195
34 years$4,109$2,800$1,861$1,212$776$167
35 years$3,948$2,656$1,740$1,115$703$143
36 years$3,796$2,521$1,628$1,027$637$123
37 years$3,653$2,394$1,523$947$577$105
38 years$3,517$2,275$1,427$872$524$90
39 years$3,389$2,164$1,337$804$475$77
40 years$3,268$2,058$1,253$742$431$66
41 years$3,152$1,959$1,175$685$391$57
42 years$3,043$1,866$1,102$632$354$49
43 years$2,939$1,778$1,034$583$322$42
44 years$2,840$1,695$971$538$292$36
45 years$2,745$1,616$911$497$265$31
46 years$2,655$1,542$856$459$241$26
47 years$2,569$1,471$804$424$219$23
48 years$2,487$1,405$756$392$198$19
49 years$2,409$1,341$710$362$180$17
50 years$2,333$1,281$668$335$164$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,390,000, adding $3,947 every year, while hoping to spend $47,366 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: 40/42/18 Blend
53$2,390,000$2,390,000$2,390,000$2,390,000
54$2,637,851$2,511,181$2,474,136$2,729,130
55$2,856,515$2,583,832$2,506,623$2,867,241
56$3,095,895$2,658,455$2,538,610$3,011,695
57$3,358,054$2,735,098$2,570,032$3,166,977
58$3,645,265$2,813,806$2,600,816$3,334,098
59$3,960,028$2,894,629$2,630,890$3,514,167
60$4,305,100$2,977,615$2,660,174$3,708,405
61$4,683,516$3,062,814$2,688,586$3,918,158
62$5,098,618$3,150,275$2,716,037$4,144,905
63$5,554,088$3,240,050$2,742,435$4,390,272
64$6,053,982$3,332,189$2,767,683$4,656,054
65$6,602,765$3,426,744$2,791,678$4,944,222
66$7,205,360$3,523,767$2,814,312$5,256,949
67$7,867,187$3,623,312$2,835,472$5,596,627
68$8,594,217$3,725,431$2,855,037$5,965,888
69$9,393,028$3,830,178$2,872,881$6,367,633
70$10,270,867$3,937,607$2,888,873$6,805,056
71$11,235,718$4,047,772$2,902,873$7,281,673
72$12,296,376$4,160,727$2,914,734$7,801,360
73$13,462,532$4,276,528$2,924,303$8,368,382
74$14,744,861$4,395,229$2,931,418$8,987,441
75$16,155,126$4,516,885$2,935,910$9,663,713
76$17,706,286$4,641,549$2,937,600$10,402,902
77$19,412,620$4,769,277$2,936,302$11,211,293
78$21,289,859$4,900,124$2,931,819$12,095,806
79$23,355,336$5,034,142$2,923,947$13,064,068
80$25,628,151$5,171,385$2,912,470$14,124,481
81$28,129,345$5,311,906$2,897,160$15,286,302
82$30,882,106$5,455,756$2,877,783$16,559,732
83$33,911,980$5,602,988$2,854,088$17,956,007
84$37,247,119$5,753,651$2,825,817$19,487,511
85$40,918,539$5,907,795$2,792,696$21,167,888
86$44,960,419$6,065,466$2,754,441$23,012,170
87$49,410,419$6,226,710$2,710,751$25,036,923
88$54,310,036$6,391,573$2,661,316$27,260,402
89$59,704,996$6,560,097$2,605,806$29,702,720
90$65,645,686$6,732,321$2,543,880$32,386,041
91$72,187,625$6,908,284$2,475,179$35,334,790
92$79,391,993$7,088,021$2,399,329$38,575,880
93$87,326,206$7,271,563$2,315,935$42,138,970
94$96,064,549$7,458,940$2,224,590$46,056,741
95$105,688,882$7,650,178$2,124,863$50,365,209
96$116,289,409$7,845,297$2,016,306$55,104,062
97$127,965,527$8,044,315$1,898,451$60,317,035
98$140,826,769$8,247,245$1,770,808$66,052,326
99$154,993,834$8,454,094$1,632,864$72,363,046
100$170,599,726$8,664,865$1,484,086$79,307,727