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

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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$201,493$199,698$197,947$196,238$194,569$189,328
2 years$99,749$97,891$96,091$94,345$92,652$87,409
3 years$65,839$63,973$62,177$60,448$58,782$53,702
4 years$48,887$47,027$45,249$43,549$41,924$37,045
5 years$38,719$36,870$35,115$33,450$31,870$27,205
6 years$31,942$30,107$28,378$26,750$25,218$20,772
7 years$27,103$25,284$23,582$21,993$20,509$16,283
8 years$23,476$21,673$20,000$18,449$17,014$13,005
9 years$20,656$18,870$17,226$15,715$14,328$10,533
10 years$18,402$16,633$15,018$13,546$12,208$8,622
11 years$16,558$14,807$13,221$11,789$10,500$7,117
12 years$15,023$13,290$11,734$10,341$9,099$5,913
13 years$13,725$12,011$10,483$9,129$7,934$4,939
14 years$12,614$10,917$9,419$8,104$6,955$4,143
15 years$11,651$9,973$8,504$7,227$6,124$3,488
16 years$10,810$9,150$7,710$6,471$5,412$2,945
17 years$10,069$8,427$7,016$5,814$4,799$2,492
18 years$9,410$7,787$6,405$5,240$4,267$2,114
19 years$8,822$7,217$5,863$4,735$3,803$1,795
20 years$8,293$6,706$5,381$4,288$3,397$1,527
21 years$7,815$6,247$4,950$3,892$3,040$1,301
22 years$7,381$5,831$4,562$3,539$2,725$1,109
23 years$6,985$5,454$4,212$3,223$2,446$947
24 years$6,623$5,110$3,895$2,939$2,199$808
25 years$6,291$4,795$3,608$2,684$1,978$691
26 years$5,984$4,507$3,346$2,454$1,782$591
27 years$5,701$4,241$3,107$2,247$1,607$505
28 years$5,438$3,997$2,889$2,058$1,450$432
29 years$5,194$3,770$2,688$1,888$1,309$370
30 years$4,967$3,561$2,504$1,732$1,183$317
31 years$4,754$3,366$2,334$1,591$1,069$271
32 years$4,556$3,185$2,178$1,462$967$232
33 years$4,370$3,016$2,033$1,345$875$199
34 years$4,195$2,859$1,900$1,237$793$171
35 years$4,030$2,711$1,776$1,139$718$146
36 years$3,875$2,573$1,662$1,049$650$125
37 years$3,729$2,444$1,555$966$590$107
38 years$3,591$2,323$1,457$891$534$92
39 years$3,460$2,209$1,365$821$485$79
40 years$3,336$2,102$1,279$758$440$68
41 years$3,218$2,000$1,199$699$399$58
42 years$3,106$1,905$1,125$645$362$50
43 years$3,000$1,815$1,056$595$328$43
44 years$2,899$1,730$991$550$298$37
45 years$2,803$1,650$930$508$271$31
46 years$2,711$1,574$874$469$246$27
47 years$2,623$1,502$821$433$223$23
48 years$2,539$1,434$772$400$203$20
49 years$2,459$1,369$725$370$184$17
50 years$2,382$1,308$682$342$167$15

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 $4,605 every year, while hoping to spend $45,558 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: 58/32/10 Blend
53$2,440,000$2,440,000$2,440,000$2,440,000
54$2,693,630$2,564,310$2,526,490$2,843,190
55$2,919,907$2,641,488$2,562,654$3,021,623
56$3,167,737$2,720,921$2,598,503$3,210,514
57$3,439,271$2,802,670$2,633,977$3,415,299
58$3,736,877$2,886,801$2,669,016$3,637,506
59$4,063,163$2,973,379$2,703,552$3,878,818
60$4,421,001$3,062,470$2,737,517$4,141,085
61$4,813,556$3,154,144$2,770,836$4,426,347
62$5,244,312$3,248,470$2,803,433$4,736,845
63$5,717,108$3,345,522$2,835,224$5,075,049
64$6,236,173$3,445,372$2,866,123$5,443,679
65$6,806,163$3,548,096$2,896,040$5,845,726
66$7,432,210$3,653,771$2,924,876$6,284,487
67$8,119,967$3,762,477$2,952,530$6,763,590
68$8,875,659$3,874,294$2,978,896$7,287,031
69$9,706,147$3,989,305$3,003,859$7,859,211
70$10,618,988$4,107,595$3,027,302$8,484,976
71$11,622,506$4,229,249$3,049,099$9,169,665
72$12,725,876$4,354,356$3,069,118$9,919,156
73$13,939,203$4,483,007$3,087,220$10,739,925
74$15,273,620$4,615,293$3,103,261$11,639,103
75$16,741,396$4,751,309$3,117,086$12,624,548
76$18,356,045$4,891,150$3,128,535$13,704,915
77$20,132,460$5,034,914$3,137,440$14,889,736
78$22,087,048$5,182,703$3,143,621$16,189,515
79$24,237,888$5,334,616$3,146,894$17,615,823
80$26,604,900$5,490,760$3,147,062$19,181,405
81$29,210,032$5,651,239$3,143,920$20,900,305
82$32,077,467$5,816,161$3,137,253$22,787,994
83$35,233,852$5,985,637$3,126,836$24,861,518
84$38,708,551$6,159,779$3,112,430$27,139,658
85$42,533,915$6,338,700$3,093,788$29,643,105
86$46,745,595$6,522,517$3,070,651$32,394,657
87$51,382,872$6,711,347$3,042,744$35,419,434
88$56,489,033$6,905,310$3,009,784$38,745,113
89$62,111,772$7,104,529$2,971,470$42,402,190
90$68,303,649$7,309,126$2,927,490$46,424,266
91$75,122,575$7,519,228$2,877,515$50,848,366
92$82,632,369$7,734,961$2,821,203$55,715,288
93$90,903,351$7,956,455$2,758,194$61,069,984
94$100,013,012$8,183,840$2,688,112$66,961,989
95$110,046,739$8,417,249$2,610,564$73,445,882
96$121,098,628$8,656,815$2,525,139$80,581,809
97$133,272,364$8,902,674$2,431,407$88,436,043
98$146,682,203$9,154,964$2,328,918$97,081,611
99$161,454,052$9,413,821$2,217,200$106,598,986
100$177,726,653$9,679,386$2,095,764$117,076,844