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%17%
1 years$198,190$196,424$194,702$193,021$191,379$185,924
2 years$98,114$96,286$94,516$92,799$91,133$85,679
3 years$64,759$62,924$61,158$59,457$57,819$52,537
4 years$48,086$46,256$44,507$42,835$41,237$36,168
5 years$38,084$36,265$34,539$32,902$31,347$26,506
6 years$31,418$29,613$27,913$26,312$24,804$20,194
7 years$26,659$24,869$23,196$21,632$20,172$15,794
8 years$23,091$21,318$19,672$18,147$16,735$12,585
9 years$20,318$18,561$16,943$15,457$14,093$10,168
10 years$18,100$16,360$14,772$13,324$12,008$8,303
11 years$16,287$14,565$13,005$11,596$10,327$6,835
12 years$14,777$13,072$11,541$10,171$8,950$5,664
13 years$13,500$11,814$10,311$8,980$7,804$4,718
14 years$12,407$10,738$9,265$7,971$6,841$3,947
15 years$11,460$9,810$8,365$7,109$6,023$3,314
16 years$10,633$9,000$7,584$6,365$5,324$2,790
17 years$9,904$8,289$6,901$5,719$4,720$2,354
18 years$9,256$7,659$6,300$5,154$4,197$1,991
19 years$8,677$7,099$5,767$4,657$3,741$1,686
20 years$8,157$6,596$5,293$4,218$3,341$1,430
21 years$7,687$6,144$4,868$3,828$2,990$1,214
22 years$7,260$5,735$4,487$3,481$2,680$1,032
23 years$6,871$5,364$4,143$3,170$2,406$878
24 years$6,515$5,026$3,832$2,891$2,163$747
25 years$6,188$4,717$3,549$2,640$1,946$636
26 years$5,886$4,433$3,291$2,414$1,753$542
27 years$5,607$4,172$3,056$2,210$1,580$462
28 years$5,349$3,931$2,841$2,025$1,426$394
29 years$5,109$3,708$2,644$1,857$1,288$337
30 years$4,885$3,502$2,463$1,704$1,163$287
31 years$4,677$3,311$2,296$1,565$1,052$245
32 years$4,481$3,133$2,142$1,438$951$209
33 years$4,298$2,967$2,000$1,323$861$179
34 years$4,126$2,812$1,869$1,217$780$153
35 years$3,964$2,667$1,747$1,120$706$130
36 years$3,812$2,531$1,634$1,032$640$111
37 years$3,668$2,404$1,530$951$580$95
38 years$3,532$2,285$1,433$876$526$81
39 years$3,403$2,173$1,342$808$477$69
40 years$3,281$2,067$1,258$745$432$59
41 years$3,165$1,968$1,180$687$392$51
42 years$3,056$1,874$1,107$634$356$43
43 years$2,951$1,785$1,038$586$323$37
44 years$2,852$1,702$975$541$293$32
45 years$2,757$1,623$915$499$266$27
46 years$2,666$1,548$860$461$242$23
47 years$2,580$1,477$808$426$219$20
48 years$2,498$1,410$759$394$199$17
49 years$2,419$1,347$713$364$181$14
50 years$2,343$1,287$671$336$164$12

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 $6,682 every year, while hoping to spend $51,411 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: 65/18/17 Blend
53$2,400,000$2,400,000$2,400,000$2,400,000
54$2,651,692$2,524,492$2,487,292$2,812,530
55$2,867,464$2,593,492$2,515,916$2,990,122
56$3,103,522$2,664,149$2,543,775$3,177,586
57$3,361,879$2,736,491$2,570,790$3,381,197
58$3,644,756$2,810,544$2,596,877$3,602,536
59$3,954,596$2,886,335$2,621,947$3,843,342
60$4,294,088$2,963,889$2,645,905$4,105,531
61$4,666,197$3,043,231$2,668,655$4,391,214
62$5,074,185$3,124,385$2,690,091$4,702,713
63$5,521,647$3,207,375$2,710,104$5,042,589
64$6,012,541$3,292,223$2,728,579$5,413,663
65$6,551,229$3,378,951$2,745,395$5,819,040
66$7,142,514$3,467,579$2,760,425$6,262,142
67$7,791,686$3,558,126$2,773,535$6,746,740
68$8,504,574$3,650,610$2,784,584$7,276,988
69$9,287,598$3,745,047$2,793,425$7,857,461
70$10,147,830$3,841,451$2,799,902$8,493,201
71$11,093,061$3,939,836$2,803,852$9,189,763
72$12,131,877$4,040,211$2,805,104$9,953,268
73$13,273,732$4,142,585$2,803,479$10,790,460
74$14,529,045$4,246,964$2,798,788$11,708,769
75$15,909,294$4,353,352$2,790,833$12,716,383
76$17,427,125$4,461,748$2,779,409$13,822,324
77$19,096,469$4,572,152$2,764,296$15,036,533
78$20,932,677$4,684,556$2,745,269$16,369,966
79$22,952,662$4,798,951$2,722,087$17,834,693
80$25,175,059$4,915,324$2,694,502$19,444,015
81$27,620,398$5,033,659$2,662,252$21,212,592
82$30,311,303$5,153,932$2,625,061$23,156,575
83$33,272,699$5,276,118$2,582,644$25,293,764
84$36,532,052$5,400,185$2,534,700$27,643,772
85$40,119,623$5,526,096$2,480,914$30,228,216
86$44,068,757$5,653,807$2,420,957$33,070,914
87$48,416,196$5,783,270$2,354,485$36,198,116
88$53,202,425$5,914,427$2,281,138$39,638,746
89$58,472,055$6,047,217$2,200,538$43,424,681
90$64,274,241$6,181,567$2,112,293$47,591,051
91$70,663,148$6,317,398$2,015,989$52,176,565
92$77,698,461$6,454,622$1,911,196$57,223,884
93$85,445,948$6,593,142$1,797,465$62,780,020
94$93,978,079$6,732,850$1,674,324$68,896,783
95$103,374,711$6,873,629$1,541,283$75,631,264
96$113,723,842$7,015,347$1,397,827$83,046,384
97$125,122,440$7,157,865$1,243,419$91,211,477
98$137,677,356$7,301,027$1,077,501$100,202,956
99$151,506,334$7,444,665$899,485$110,105,027
100$166,739,124$7,588,598$708,761$121,010,488