Can I retire at age 54 with 2,470,000?

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 $2,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$203,970$202,153$200,381$198,651$196,961$194,178
2 years$100,975$99,095$97,272$95,505$93,791$90,993
3 years$66,648$64,760$62,942$61,191$59,505$56,778
4 years$49,488$47,605$45,805$44,085$42,439$39,805
5 years$39,195$37,323$35,547$33,861$32,262$29,728
6 years$32,335$30,477$28,727$27,079$25,528$23,097
7 years$27,436$25,595$23,872$22,263$20,761$18,434
8 years$23,765$21,939$20,246$18,676$17,223$15,000
9 years$20,910$19,102$17,438$15,908$14,504$12,384
10 years$18,628$16,838$15,202$13,713$12,358$10,339
11 years$16,762$14,989$13,384$11,934$10,629$8,708
12 years$15,208$13,454$11,878$10,468$9,211$7,387
13 years$13,894$12,158$10,612$9,242$8,032$6,303
14 years$12,769$11,052$9,535$8,204$7,041$5,403
15 years$11,795$10,096$8,609$7,316$6,199$4,651
16 years$10,943$9,263$7,805$6,551$5,479$4,016
17 years$10,192$8,531$7,102$5,886$4,858$3,478
18 years$9,526$7,883$6,484$5,304$4,319$3,020
19 years$8,930$7,306$5,935$4,793$3,850$2,627
20 years$8,395$6,789$5,447$4,341$3,439$2,289
21 years$7,911$6,323$5,010$3,940$3,077$1,998
22 years$7,472$5,903$4,618$3,582$2,758$1,746
23 years$7,071$5,521$4,264$3,262$2,476$1,527
24 years$6,705$5,172$3,943$2,975$2,226$1,338
25 years$6,368$4,854$3,652$2,717$2,003$1,173
26 years$6,058$4,562$3,387$2,485$1,804$1,028
27 years$5,771$4,293$3,145$2,274$1,626$903
28 years$5,505$4,046$2,924$2,084$1,468$793
29 years$5,258$3,817$2,721$1,911$1,325$697
30 years$5,028$3,604$2,535$1,754$1,197$612
31 years$4,813$3,407$2,363$1,611$1,083$539
32 years$4,612$3,224$2,205$1,480$979$474
33 years$4,423$3,053$2,058$1,361$886$417
34 years$4,246$2,894$1,923$1,252$802$367
35 years$4,080$2,745$1,798$1,153$727$323
36 years$3,923$2,605$1,682$1,062$658$284
37 years$3,775$2,474$1,574$978$597$250
38 years$3,635$2,351$1,474$902$541$221
39 years$3,502$2,236$1,381$831$491$194
40 years$3,377$2,127$1,295$767$445$171
41 years$3,258$2,025$1,214$707$404$151
42 years$3,145$1,929$1,139$653$366$133
43 years$3,037$1,838$1,069$603$332$117
44 years$2,935$1,752$1,003$557$302$103
45 years$2,837$1,670$942$514$274$91
46 years$2,744$1,593$885$475$249$80
47 years$2,655$1,521$831$439$226$71
48 years$2,570$1,452$781$405$205$62
49 years$2,489$1,386$734$375$186$55
50 years$2,412$1,324$690$346$169$48

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,470,000, adding $4,437 every year, while hoping to spend $40,097 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: 49/38/13 Blend
53$2,470,000$2,470,000$2,470,000$2,470,000
54$2,726,517$2,595,607$2,557,322$2,850,180
55$2,961,959$2,680,129$2,600,329$3,020,231
56$3,220,072$2,767,448$2,643,433$3,200,303
57$3,503,126$2,857,660$2,686,595$3,395,008
58$3,813,622$2,950,863$2,729,773$3,605,727
59$4,154,313$3,047,157$2,772,923$3,833,984
60$4,528,234$3,146,649$2,815,997$4,081,451
61$4,938,726$3,249,446$2,858,944$4,349,970
62$5,389,469$3,355,661$2,901,712$4,641,566
63$5,884,517$3,465,412$2,944,242$4,958,467
64$6,428,339$3,578,818$2,986,475$5,303,125
65$7,025,854$3,696,004$3,028,346$5,678,239
66$7,682,482$3,817,100$3,069,787$6,086,778
67$8,404,197$3,942,239$3,110,726$6,532,011
68$9,197,576$4,071,560$3,151,087$7,017,535
69$10,069,870$4,205,207$3,190,789$7,547,311
70$11,029,062$4,343,328$3,229,746$8,125,699
71$12,083,952$4,486,077$3,267,869$8,757,499
72$13,244,234$4,633,613$3,305,061$9,447,997
73$14,520,587$4,786,102$3,341,222$10,203,012
74$15,924,780$4,943,714$3,376,246$11,028,952
75$17,469,778$5,106,626$3,410,020$11,932,875
76$19,169,867$5,275,023$3,442,428$12,922,552
77$21,040,788$5,449,093$3,473,343$14,006,541
78$23,099,883$5,629,033$3,502,635$15,194,269
79$25,366,264$5,815,049$3,530,166$16,496,117
80$27,860,986$6,007,350$3,555,790$17,923,522
81$30,607,253$6,206,156$3,579,355$19,489,077
82$33,630,628$6,411,693$3,600,699$21,206,658
83$36,959,283$6,624,197$3,619,653$23,091,547
84$40,624,258$6,843,911$3,636,040$25,160,578
85$44,659,758$7,071,087$3,649,672$27,432,296
86$49,103,470$7,305,988$3,660,354$29,927,132
87$53,996,927$7,548,884$3,667,878$32,667,591
88$59,385,890$7,800,056$3,672,029$35,678,468
89$65,320,788$8,059,796$3,672,579$38,987,079
90$71,857,188$8,328,406$3,669,290$42,623,517
91$79,056,322$8,606,198$3,661,912$46,620,938
92$86,985,663$8,893,498$3,650,182$51,015,870
93$95,719,563$9,190,642$3,633,826$55,848,560
94$105,339,954$9,497,979$3,612,554$61,163,350
95$115,937,119$9,815,870$3,586,065$67,009,095
96$127,610,550$10,144,692$3,554,042$73,439,626
97$140,469,877$10,484,833$3,516,154$80,514,251
98$154,635,912$10,836,697$3,472,053$88,298,322
99$170,241,782$11,200,703$3,421,374$96,863,843
100$187,434,191$11,577,285$3,363,737$106,290,154