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

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 $2,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$203,970$202,153$200,381$198,651$196,961$192,434
2 years$100,975$99,095$97,272$95,505$93,791$89,255
3 years$66,648$64,760$62,942$61,191$59,505$55,102
4 years$49,488$47,605$45,805$44,085$42,439$38,203
5 years$39,195$37,323$35,547$33,861$32,262$28,204
6 years$32,335$30,477$28,727$27,079$25,528$21,653
7 years$27,436$25,595$23,872$22,263$20,761$17,069
8 years$23,765$21,939$20,246$18,676$17,223$13,714
9 years$20,910$19,102$17,438$15,908$14,504$11,174
10 years$18,628$16,838$15,202$13,713$12,358$9,204
11 years$16,762$14,989$13,384$11,934$10,629$7,645
12 years$15,208$13,454$11,878$10,468$9,211$6,394
13 years$13,894$12,158$10,612$9,242$8,032$5,377
14 years$12,769$11,052$9,535$8,204$7,041$4,541
15 years$11,795$10,096$8,609$7,316$6,199$3,850
16 years$10,943$9,263$7,805$6,551$5,479$3,274
17 years$10,192$8,531$7,102$5,886$4,858$2,791
18 years$9,526$7,883$6,484$5,304$4,319$2,384
19 years$8,930$7,306$5,935$4,793$3,850$2,041
20 years$8,395$6,789$5,447$4,341$3,439$1,749
21 years$7,911$6,323$5,010$3,940$3,077$1,501
22 years$7,472$5,903$4,618$3,582$2,758$1,290
23 years$7,071$5,521$4,264$3,262$2,476$1,110
24 years$6,705$5,172$3,943$2,975$2,226$955
25 years$6,368$4,854$3,652$2,717$2,003$823
26 years$6,058$4,562$3,387$2,485$1,804$709
27 years$5,771$4,293$3,145$2,274$1,626$611
28 years$5,505$4,046$2,924$2,084$1,468$527
29 years$5,258$3,817$2,721$1,911$1,325$455
30 years$5,028$3,604$2,535$1,754$1,197$393
31 years$4,813$3,407$2,363$1,611$1,083$339
32 years$4,612$3,224$2,205$1,480$979$293
33 years$4,423$3,053$2,058$1,361$886$253
34 years$4,246$2,894$1,923$1,252$802$219
35 years$4,080$2,745$1,798$1,153$727$189
36 years$3,923$2,605$1,682$1,062$658$163
37 years$3,775$2,474$1,574$978$597$141
38 years$3,635$2,351$1,474$902$541$122
39 years$3,502$2,236$1,381$831$491$106
40 years$3,377$2,127$1,295$767$445$91
41 years$3,258$2,025$1,214$707$404$79
42 years$3,145$1,929$1,139$653$366$68
43 years$3,037$1,838$1,069$603$332$59
44 years$2,935$1,752$1,003$557$302$51
45 years$2,837$1,670$942$514$274$44
46 years$2,744$1,593$885$475$249$38
47 years$2,655$1,521$831$439$226$33
48 years$2,570$1,452$781$405$205$29
49 years$2,489$1,386$734$375$186$25
50 years$2,412$1,324$690$346$169$21

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 $4,114 every year, while hoping to spend $25,599 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: 47/44/9 Blend
53$2,470,000$2,470,000$2,470,000$2,470,000
54$2,726,184$2,595,274$2,556,989$2,847,405
55$2,977,017$2,695,205$2,615,411$3,031,163
56$3,252,578$2,799,175$2,674,932$3,227,473
57$3,555,361$2,907,354$2,735,562$3,439,932
58$3,888,114$3,019,922$2,797,310$3,670,045
59$4,253,868$3,137,063$2,860,185$3,919,467
60$4,655,956$3,258,973$2,924,196$4,190,018
61$5,098,056$3,385,855$2,989,349$4,483,696
62$5,584,216$3,517,921$3,055,651$4,802,696
63$6,118,899$3,655,392$3,123,108$5,149,432
64$6,707,020$3,798,499$3,191,725$5,526,559
65$7,353,995$3,947,485$3,261,507$5,936,992
66$8,065,792$4,102,601$3,332,456$6,383,939
67$8,848,985$4,264,110$3,404,576$6,870,928
68$9,710,819$4,432,289$3,477,866$7,401,838
69$10,659,275$4,607,425$3,552,328$7,980,937
70$11,703,151$4,789,817$3,627,960$8,612,918
71$12,852,135$4,979,781$3,704,760$9,302,945
72$14,116,906$5,177,644$3,782,723$10,056,700
73$15,509,230$5,383,748$3,861,844$10,880,435
74$17,042,072$5,598,453$3,942,116$11,781,029
75$18,729,717$5,822,131$4,023,531$12,766,054
76$20,587,907$6,055,174$4,106,078$13,843,842
77$22,633,987$6,297,990$4,189,744$15,023,564
78$24,887,069$6,551,007$4,274,516$16,315,316
79$27,368,214$6,814,671$4,360,377$17,730,211
80$30,100,631$7,089,448$4,447,308$19,280,482
81$33,109,891$7,375,827$4,535,289$20,979,597
82$36,424,173$7,674,316$4,624,295$22,842,386
83$40,074,531$7,985,450$4,714,300$24,885,174
84$44,095,180$8,309,784$4,805,276$27,125,939
85$48,523,827$8,647,901$4,897,191$29,584,476
86$53,402,020$9,000,411$4,990,010$32,282,583
87$58,775,544$9,367,950$5,083,694$35,244,265
88$64,694,854$9,751,184$5,178,202$38,495,956
89$71,215,545$10,150,808$5,273,488$42,066,769
90$78,398,885$10,567,551$5,369,503$45,988,770
91$86,312,384$11,002,175$5,466,195$50,297,270
92$95,030,440$11,455,474$5,563,506$55,031,167
93$104,635,035$11,928,282$5,661,373$60,233,299
94$115,216,511$12,421,470$5,759,731$65,950,855
95$126,874,421$12,935,948$5,858,508$72,235,812
96$139,718,472$13,472,669$5,957,628$79,145,423
97$153,869,555$14,032,630$6,057,008$86,742,757
98$169,460,893$14,616,872$6,156,561$95,097,286
99$186,639,292$15,226,486$6,256,193$104,285,543
100$205,566,529$15,862,613$6,355,805$114,391,836