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

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$198,190$196,424$194,702$193,021$191,379$184,883
2 years$98,114$96,286$94,516$92,799$91,133$84,654
3 years$64,759$62,924$61,158$59,457$57,819$51,559
4 years$48,086$46,256$44,507$42,835$41,237$35,245
5 years$38,084$36,265$34,539$32,902$31,347$25,640
6 years$31,418$29,613$27,913$26,312$24,804$19,385
7 years$26,659$24,869$23,196$21,632$20,172$15,040
8 years$23,091$21,318$19,672$18,147$16,735$11,886
9 years$20,318$18,561$16,943$15,457$14,093$9,522
10 years$18,100$16,360$14,772$13,324$12,008$7,707
11 years$16,287$14,565$13,005$11,596$10,327$6,288
12 years$14,777$13,072$11,541$10,171$8,950$5,162
13 years$13,500$11,814$10,311$8,980$7,804$4,260
14 years$12,407$10,738$9,265$7,971$6,841$3,529
15 years$11,460$9,810$8,365$7,109$6,023$2,933
16 years$10,633$9,000$7,584$6,365$5,324$2,445
17 years$9,904$8,289$6,901$5,719$4,720$2,042
18 years$9,256$7,659$6,300$5,154$4,197$1,709
19 years$8,677$7,099$5,767$4,657$3,741$1,432
20 years$8,157$6,596$5,293$4,218$3,341$1,202
21 years$7,687$6,144$4,868$3,828$2,990$1,009
22 years$7,260$5,735$4,487$3,481$2,680$849
23 years$6,871$5,364$4,143$3,170$2,406$714
24 years$6,515$5,026$3,832$2,891$2,163$601
25 years$6,188$4,717$3,549$2,640$1,946$506
26 years$5,886$4,433$3,291$2,414$1,753$427
27 years$5,607$4,172$3,056$2,210$1,580$360
28 years$5,349$3,931$2,841$2,025$1,426$303
29 years$5,109$3,708$2,644$1,857$1,288$256
30 years$4,885$3,502$2,463$1,704$1,163$216
31 years$4,677$3,311$2,296$1,565$1,052$182
32 years$4,481$3,133$2,142$1,438$951$154
33 years$4,298$2,967$2,000$1,323$861$130
34 years$4,126$2,812$1,869$1,217$780$109
35 years$3,964$2,667$1,747$1,120$706$92
36 years$3,812$2,531$1,634$1,032$640$78
37 years$3,668$2,404$1,530$951$580$66
38 years$3,532$2,285$1,433$876$526$56
39 years$3,403$2,173$1,342$808$477$47
40 years$3,281$2,067$1,258$745$432$40
41 years$3,165$1,968$1,180$687$392$33
42 years$3,056$1,874$1,107$634$356$28
43 years$2,951$1,785$1,038$586$323$24
44 years$2,852$1,702$975$541$293$20
45 years$2,757$1,623$915$499$266$17
46 years$2,666$1,548$860$461$242$14
47 years$2,580$1,477$808$426$219$12
48 years$2,498$1,410$759$394$199$10
49 years$2,419$1,347$713$364$181$9
50 years$2,343$1,287$671$336$164$7

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 $2,164 every year, while hoping to spend $52,874 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: 31/43/26 Blend
53$2,400,000$2,400,000$2,400,000$2,400,000
54$2,647,032$2,519,832$2,482,632$2,707,871
55$2,860,772$2,587,046$2,509,543$2,822,029
56$3,094,541$2,655,782$2,535,583$2,940,000
57$3,350,327$2,726,058$2,560,667$3,065,934
58$3,630,317$2,797,892$2,584,707$3,200,561
59$3,936,921$2,871,300$2,607,606$3,344,689
60$4,272,793$2,946,300$2,629,267$3,499,203
61$4,640,854$3,022,905$2,649,584$3,665,081
62$5,044,323$3,101,129$2,668,447$3,843,398
63$5,486,745$3,180,985$2,685,740$4,035,341
64$5,972,021$3,262,482$2,701,341$4,242,213
65$6,504,454$3,345,630$2,715,122$4,465,456
66$7,088,778$3,430,435$2,726,949$4,706,652
67$7,730,211$3,516,904$2,736,679$4,967,549
68$8,434,498$3,605,038$2,744,164$5,250,072
69$9,207,971$3,694,839$2,749,247$5,556,341
70$10,057,602$3,786,305$2,751,765$5,888,694
71$10,991,074$3,879,430$2,751,546$6,249,707
72$12,016,850$3,974,208$2,748,408$6,642,219
73$13,144,252$4,070,628$2,742,164$7,069,361
74$14,383,552$4,168,675$2,732,612$7,534,580
75$15,746,066$4,268,332$2,719,547$8,041,680
76$17,244,262$4,369,577$2,702,748$8,594,850
77$18,891,874$4,472,384$2,681,988$9,198,711
78$20,704,037$4,576,723$2,657,027$9,858,354
79$22,697,424$4,682,557$2,627,612$10,579,392
80$24,890,406$4,789,848$2,593,482$11,368,012
81$27,303,225$4,898,547$2,554,361$12,231,034
82$29,958,182$5,008,604$2,509,960$13,175,977
83$32,879,850$5,119,959$2,459,978$14,211,127
84$36,095,306$5,232,548$2,404,098$15,345,620
85$39,634,381$5,346,298$2,341,990$16,589,526
86$43,529,950$5,461,128$2,273,308$17,953,947
87$47,818,231$5,576,949$2,197,690$19,451,119
88$52,539,136$5,693,665$2,114,758$21,094,530
89$57,736,642$5,811,169$2,024,117$22,899,051
90$63,459,207$5,929,344$1,925,352$24,881,072
91$69,760,226$6,048,062$1,818,031$27,058,661
92$76,698,537$6,167,185$1,701,703$29,451,733
93$84,338,973$6,286,562$1,575,896$32,082,243
94$92,752,975$6,406,030$1,440,115$34,974,391
95$102,019,265$6,525,412$1,293,845$38,154,851
96$112,224,589$6,644,516$1,136,548$41,653,027
97$123,464,537$6,763,137$967,661$45,501,331
98$135,844,439$6,881,050$786,598$49,735,487
99$149,480,367$6,998,017$592,744$54,394,875
100$164,500,223$7,113,778$385,460$59,522,902