Can I retire at age 54 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$199,841$198,061$196,325$194,629$192,974$187,549
2 years$98,931$97,089$95,303$93,572$91,892$86,468
3 years$65,299$63,449$61,667$59,952$58,300$53,046
4 years$48,486$46,641$44,878$43,192$41,580$36,537
5 years$38,401$36,567$34,827$33,176$31,609$26,791
6 years$31,680$29,860$28,146$26,531$25,011$20,422
7 years$26,881$25,076$23,389$21,813$20,341$15,981
8 years$23,283$21,495$19,836$18,298$16,874$12,742
9 years$20,487$18,715$17,085$15,586$14,211$10,301
10 years$18,251$16,497$14,895$13,435$12,108$8,417
11 years$16,423$14,686$13,113$11,693$10,413$6,934
12 years$14,900$13,181$11,638$10,256$9,024$5,749
13 years$13,613$11,912$10,397$9,055$7,869$4,793
14 years$12,510$10,828$9,342$8,038$6,898$4,012
15 years$11,556$9,891$8,435$7,168$6,074$3,370
16 years$10,722$9,075$7,647$6,418$5,368$2,839
17 years$9,986$8,358$6,959$5,767$4,760$2,398
18 years$9,333$7,723$6,352$5,197$4,232$2,029
19 years$8,749$7,158$5,815$4,696$3,772$1,720
20 years$8,225$6,651$5,337$4,253$3,369$1,460
21 years$7,751$6,195$4,909$3,860$3,015$1,240
22 years$7,320$5,783$4,524$3,510$2,703$1,055
23 years$6,928$5,409$4,177$3,196$2,426$898
24 years$6,569$5,068$3,863$2,915$2,181$765
25 years$6,239$4,756$3,578$2,662$1,962$652
26 years$5,935$4,470$3,319$2,434$1,767$556
27 years$5,654$4,207$3,082$2,228$1,594$475
28 years$5,394$3,964$2,865$2,041$1,438$405
29 years$5,152$3,739$2,666$1,872$1,298$346
30 years$4,926$3,531$2,483$1,718$1,173$296
31 years$4,716$3,338$2,315$1,578$1,061$252
32 years$4,519$3,159$2,160$1,450$959$216
33 years$4,334$2,991$2,017$1,334$868$184
34 years$4,160$2,835$1,884$1,227$786$158
35 years$3,997$2,689$1,762$1,129$712$135
36 years$3,844$2,552$1,648$1,040$645$115
37 years$3,698$2,424$1,543$958$585$98
38 years$3,561$2,304$1,445$883$530$84
39 years$3,432$2,191$1,353$815$481$72
40 years$3,309$2,084$1,269$751$436$62
41 years$3,192$1,984$1,190$693$396$53
42 years$3,081$1,890$1,116$640$359$45
43 years$2,976$1,800$1,047$591$326$39
44 years$2,875$1,716$983$545$296$33
45 years$2,780$1,636$923$504$268$28
46 years$2,689$1,561$867$465$244$24
47 years$2,602$1,490$814$430$221$21
48 years$2,518$1,422$765$397$201$18
49 years$2,439$1,358$719$367$183$15
50 years$2,363$1,297$676$339$166$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,420,000, adding $5,870 every year, while hoping to spend $29,265 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: 79/8/13 Blend
53$2,420,000$2,420,000$2,420,000$2,420,000
54$2,672,895$2,544,635$2,507,125$2,876,821
55$2,914,392$2,638,184$2,559,976$3,105,321
56$3,179,542$2,735,337$2,613,616$3,351,601
57$3,470,725$2,836,238$2,668,042$3,620,969
58$3,790,565$2,941,040$2,723,248$3,915,721
59$4,141,952$3,049,900$2,779,226$4,238,383
60$4,528,070$3,162,985$2,835,970$4,591,743
61$4,952,428$3,280,465$2,893,468$4,978,866
62$5,418,888$3,402,520$2,951,712$5,403,129
63$5,931,708$3,529,337$3,010,688$5,868,255
64$6,495,579$3,661,111$3,070,383$6,378,340
65$7,115,668$3,798,046$3,130,781$6,937,899
66$7,797,669$3,940,353$3,191,864$7,551,903
67$8,547,854$4,088,253$3,253,615$8,225,830
68$9,373,135$4,241,977$3,316,011$8,965,714
69$10,281,126$4,401,766$3,379,029$9,778,200
70$11,280,219$4,567,870$3,442,645$10,670,611
71$12,379,657$4,740,552$3,506,829$11,651,014
72$13,589,627$4,920,084$3,571,553$12,728,295
73$14,921,353$5,106,751$3,636,783$13,912,245
74$16,387,200$5,300,851$3,702,484$15,213,650
75$18,000,795$5,502,694$3,768,618$16,644,395
76$19,777,153$5,712,603$3,835,144$18,217,573
77$21,732,819$5,930,916$3,902,017$19,947,609
78$23,886,021$6,157,987$3,969,190$21,850,398
79$26,256,849$6,394,182$4,036,612$23,943,451
80$28,867,437$6,639,885$4,104,227$26,246,063
81$31,742,174$6,895,499$4,171,978$28,779,495
82$34,907,939$7,161,441$4,239,802$31,567,172
83$38,394,345$7,438,148$4,307,631$34,634,903
84$42,234,027$7,726,076$4,375,396$38,011,129
85$46,462,945$8,025,701$4,443,020$41,727,185
86$51,120,727$8,337,522$4,510,422$45,817,601
87$56,251,036$8,662,056$4,577,516$50,320,423
88$61,901,991$8,999,846$4,644,212$55,277,575
89$68,126,614$9,351,458$4,710,413$60,735,252
90$74,983,333$9,717,484$4,776,017$66,744,355
91$82,536,533$10,098,541$4,840,913$73,360,976
92$90,857,165$10,495,274$4,904,989$80,646,920
93$100,023,410$10,908,357$4,968,120$88,670,292
94$110,121,425$11,338,494$5,030,180$97,506,140
95$121,246,150$11,786,419$5,091,030$107,237,161
96$133,502,205$12,252,902$5,150,528$117,954,480
97$147,004,880$12,738,745$5,208,521$129,758,513
98$161,881,220$13,244,785$5,264,848$142,759,912
99$178,271,224$13,771,899$5,319,340$157,080,610
100$196,329,170$14,321,003$5,371,819$172,854,969