Can I retire at age 54 with 2,400,000?

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$198,190$196,424$194,702$193,021$191,379$190,094
2 years$98,114$96,286$94,516$92,799$91,133$89,836
3 years$64,759$62,924$61,158$59,457$57,819$56,551
4 years$48,086$46,256$44,507$42,835$41,237$40,008
5 years$38,084$36,265$34,539$32,902$31,347$30,161
6 years$31,418$29,613$27,913$26,312$24,804$23,662
7 years$26,659$24,869$23,196$21,632$20,172$19,075
8 years$23,091$21,318$19,672$18,147$16,735$15,682
9 years$20,318$18,561$16,943$15,457$14,093$13,085
10 years$18,100$16,360$14,772$13,324$12,008$11,044
11 years$16,287$14,565$13,005$11,596$10,327$9,406
12 years$14,777$13,072$11,541$10,171$8,950$8,071
13 years$13,500$11,814$10,311$8,980$7,804$6,967
14 years$12,407$10,738$9,265$7,971$6,841$6,044
15 years$11,460$9,810$8,365$7,109$6,023$5,266
16 years$10,633$9,000$7,584$6,365$5,324$4,604
17 years$9,904$8,289$6,901$5,719$4,720$4,038
18 years$9,256$7,659$6,300$5,154$4,197$3,551
19 years$8,677$7,099$5,767$4,657$3,741$3,129
20 years$8,157$6,596$5,293$4,218$3,341$2,763
21 years$7,687$6,144$4,868$3,828$2,990$2,444
22 years$7,260$5,735$4,487$3,481$2,680$2,165
23 years$6,871$5,364$4,143$3,170$2,406$1,921
24 years$6,515$5,026$3,832$2,891$2,163$1,705
25 years$6,188$4,717$3,549$2,640$1,946$1,516
26 years$5,886$4,433$3,291$2,414$1,753$1,349
27 years$5,607$4,172$3,056$2,210$1,580$1,201
28 years$5,349$3,931$2,841$2,025$1,426$1,070
29 years$5,109$3,708$2,644$1,857$1,288$954
30 years$4,885$3,502$2,463$1,704$1,163$851
31 years$4,677$3,311$2,296$1,565$1,052$760
32 years$4,481$3,133$2,142$1,438$951$678
33 years$4,298$2,967$2,000$1,323$861$606
34 years$4,126$2,812$1,869$1,217$780$541
35 years$3,964$2,667$1,747$1,120$706$484
36 years$3,812$2,531$1,634$1,032$640$432
37 years$3,668$2,404$1,530$951$580$387
38 years$3,532$2,285$1,433$876$526$346
39 years$3,403$2,173$1,342$808$477$309
40 years$3,281$2,067$1,258$745$432$277
41 years$3,165$1,968$1,180$687$392$248
42 years$3,056$1,874$1,107$634$356$222
43 years$2,951$1,785$1,038$586$323$198
44 years$2,852$1,702$975$541$293$178
45 years$2,757$1,623$915$499$266$159
46 years$2,666$1,548$860$461$242$142
47 years$2,580$1,477$808$426$219$128
48 years$2,498$1,410$759$394$199$114
49 years$2,419$1,347$713$364$181$102
50 years$2,343$1,287$671$336$164$92

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,400,000, adding $6,985 every year, while hoping to spend $44,706 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: 73/20/7 Blend
53$2,400,000$2,400,000$2,400,000$2,400,000
54$2,652,005$2,524,805$2,487,605$2,842,478
55$2,874,943$2,600,954$2,523,373$3,045,129
56$3,119,122$2,679,335$2,558,841$3,260,702
57$3,386,661$2,760,012$2,593,951$3,495,527
58$3,679,896$2,843,047$2,628,644$3,751,491
59$4,001,396$2,928,507$2,662,854$4,030,671
60$4,353,992$3,016,458$2,696,514$4,335,356
61$4,740,804$3,106,970$2,729,551$4,668,061
62$5,165,266$3,200,111$2,761,891$5,031,561
63$5,631,161$3,295,954$2,793,453$5,428,907
64$6,142,658$3,394,574$2,824,151$5,863,463
65$6,704,346$3,496,045$2,853,897$6,338,931
66$7,321,283$3,600,445$2,882,597$6,859,389
67$7,999,040$3,707,854$2,910,150$7,429,327
68$8,743,755$3,818,351$2,936,453$8,053,694
69$9,562,188$3,932,020$2,961,394$8,737,937
70$10,461,788$4,048,946$2,984,857$9,488,058
71$11,450,761$4,169,215$3,006,721$10,310,668
72$12,538,149$4,292,917$3,026,856$11,213,051
73$13,733,911$4,420,141$3,045,127$12,203,227
74$15,049,023$4,550,981$3,061,392$13,290,035
75$16,495,575$4,685,531$3,075,500$14,483,212
76$18,086,890$4,823,888$3,087,295$15,793,483
77$19,837,644$4,966,150$3,096,612$17,232,664
78$21,764,011$5,112,419$3,103,275$18,813,775
79$23,883,810$5,262,797$3,107,105$20,551,160
80$26,216,674$5,417,389$3,107,908$22,460,621
81$28,784,237$5,576,303$3,105,485$24,559,569
82$31,610,335$5,739,648$3,099,625$26,867,188
83$34,721,234$5,907,536$3,090,107$29,404,616
84$38,145,874$6,080,079$3,076,699$32,195,140
85$41,916,143$6,257,393$3,059,159$35,264,422
86$46,067,181$6,439,597$3,037,233$38,640,735
87$50,637,707$6,626,809$3,010,652$42,355,233
88$55,670,383$6,819,153$2,979,139$46,442,244
89$61,212,222$7,016,752$2,942,401$50,939,592
90$67,315,029$7,219,733$2,900,131$55,888,955
91$74,035,885$7,428,223$2,852,009$61,336,259
92$81,437,692$7,642,352$2,797,698$67,332,108
93$89,589,763$7,862,254$2,736,847$73,932,265
94$98,568,476$8,088,062$2,669,089$81,198,175
95$108,457,995$8,319,912$2,594,038$89,197,546
96$119,351,065$8,557,942$2,511,293$98,004,986
97$131,349,884$8,802,292$2,420,432$107,702,710
98$144,567,071$9,053,102$2,321,015$118,381,313
99$159,126,725$9,310,517$2,212,581$130,140,625
100$175,165,598$9,574,680$2,094,650$143,090,655