Can I retire at age 54 with 2,440,000?

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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$201,493$199,698$197,947$196,238$194,569$190,797
2 years$99,749$97,891$96,091$94,345$92,652$88,867
3 years$65,839$63,973$62,177$60,448$58,782$55,102
4 years$48,887$47,027$45,249$43,549$41,924$38,377
5 years$38,719$36,870$35,115$33,450$31,870$28,467
6 years$31,942$30,107$28,378$26,750$25,218$21,962
7 years$27,103$25,284$23,582$21,993$20,509$17,401
8 years$23,476$21,673$20,000$18,449$17,014$14,053
9 years$20,656$18,870$17,226$15,715$14,328$11,513
10 years$18,402$16,633$15,018$13,546$12,208$9,536
11 years$16,558$14,807$13,221$11,789$10,500$7,967
12 years$15,023$13,290$11,734$10,341$9,099$6,702
13 years$13,725$12,011$10,483$9,129$7,934$5,669
14 years$12,614$10,917$9,419$8,104$6,955$4,818
15 years$11,651$9,973$8,504$7,227$6,124$4,110
16 years$10,810$9,150$7,710$6,471$5,412$3,517
17 years$10,069$8,427$7,016$5,814$4,799$3,018
18 years$9,410$7,787$6,405$5,240$4,267$2,595
19 years$8,822$7,217$5,863$4,735$3,803$2,236
20 years$8,293$6,706$5,381$4,288$3,397$1,930
21 years$7,815$6,247$4,950$3,892$3,040$1,668
22 years$7,381$5,831$4,562$3,539$2,725$1,443
23 years$6,985$5,454$4,212$3,223$2,446$1,250
24 years$6,623$5,110$3,895$2,939$2,199$1,083
25 years$6,291$4,795$3,608$2,684$1,978$940
26 years$5,984$4,507$3,346$2,454$1,782$816
27 years$5,701$4,241$3,107$2,247$1,607$709
28 years$5,438$3,997$2,889$2,058$1,450$616
29 years$5,194$3,770$2,688$1,888$1,309$536
30 years$4,967$3,561$2,504$1,732$1,183$466
31 years$4,754$3,366$2,334$1,591$1,069$405
32 years$4,556$3,185$2,178$1,462$967$353
33 years$4,370$3,016$2,033$1,345$875$307
34 years$4,195$2,859$1,900$1,237$793$267
35 years$4,030$2,711$1,776$1,139$718$233
36 years$3,875$2,573$1,662$1,049$650$203
37 years$3,729$2,444$1,555$966$590$177
38 years$3,591$2,323$1,457$891$534$154
39 years$3,460$2,209$1,365$821$485$134
40 years$3,336$2,102$1,279$758$440$117
41 years$3,218$2,000$1,199$699$399$102
42 years$3,106$1,905$1,125$645$362$89
43 years$3,000$1,815$1,056$595$328$77
44 years$2,899$1,730$991$550$298$67
45 years$2,803$1,650$930$508$271$59
46 years$2,711$1,574$874$469$246$51
47 years$2,623$1,502$821$433$223$45
48 years$2,539$1,434$772$400$203$39
49 years$2,459$1,369$725$370$184$34
50 years$2,382$1,308$682$342$167$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,440,000, adding $5,710 every year, while hoping to spend $38,664 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: 32/44/24 Blend
53$2,440,000$2,440,000$2,440,000$2,440,000
54$2,694,770$2,565,450$2,527,630$2,760,979
55$2,928,498$2,650,019$2,571,167$2,896,161
56$3,184,771$2,737,436$2,614,867$3,037,801
57$3,465,847$2,827,799$2,658,695$3,189,582
58$3,774,214$2,921,212$2,702,611$3,352,419
59$4,112,612$3,017,780$2,746,577$3,527,317
60$4,484,060$3,117,612$2,790,549$3,715,381
61$4,891,882$3,220,823$2,834,480$3,917,825
62$5,339,741$3,327,531$2,878,323$4,135,982
63$5,831,671$3,437,857$2,922,023$4,371,318
64$6,372,118$3,551,928$2,965,528$4,625,446
65$6,965,978$3,669,876$3,008,776$4,900,138
66$7,618,644$3,791,836$3,051,706$5,197,345
67$8,336,059$3,917,949$3,094,252$5,519,210
68$9,124,770$4,048,362$3,136,343$5,868,091
69$9,991,991$4,183,226$3,177,904$6,246,585
70$10,945,667$4,322,698$3,218,858$6,657,547
71$11,994,556$4,466,940$3,259,120$7,104,119
72$13,148,302$4,616,122$3,298,602$7,589,758
73$14,417,535$4,770,418$3,337,211$8,118,270
74$15,813,965$4,930,010$3,374,849$8,693,845
75$17,350,495$5,095,086$3,411,412$9,321,094
76$19,041,342$5,265,841$3,446,791$10,005,093
77$20,902,169$5,442,478$3,480,869$10,751,431
78$22,950,237$5,625,206$3,513,524$11,566,262
79$25,204,563$5,814,243$3,544,630$12,456,359
80$27,686,103$6,009,816$3,574,049$13,429,185
81$30,417,946$6,212,157$3,601,640$14,492,954
82$33,425,535$6,421,511$3,627,254$15,656,713
83$36,736,904$6,638,130$3,650,731$16,930,426
84$40,382,944$6,862,274$3,671,907$18,325,067
85$44,397,696$7,094,217$3,690,606$19,852,720
86$48,818,666$7,334,239$3,706,647$21,526,699
87$53,687,185$7,582,632$3,719,836$23,361,664
88$59,048,798$7,839,701$3,729,970$25,373,768
89$64,953,690$8,105,760$3,736,838$27,580,799
90$71,457,160$8,381,137$3,740,216$30,002,355
91$78,620,148$8,666,169$3,739,870$32,660,023
92$86,509,802$8,961,211$3,735,555$35,577,587
93$95,200,119$9,266,628$3,727,014$38,781,243
94$104,772,637$9,582,798$3,713,975$42,299,856
95$115,317,208$9,910,118$3,696,155$46,165,222
96$126,932,845$10,248,995$3,673,258$50,412,372
97$139,728,656$10,599,857$3,644,973$55,079,901
98$153,824,872$10,963,143$3,610,972$60,210,333
99$169,353,985$11,339,312$3,570,915$65,850,514
100$186,461,994$11,728,842$3,524,445$72,052,063