Can I retire at age 54 with 2,480,000?

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 $2,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$204,796$202,972$201,192$199,455$197,759$192,354
2 years$101,384$99,496$97,666$95,892$94,171$88,765
3 years$66,918$65,022$63,196$61,439$59,746$54,508
4 years$49,688$47,798$45,991$44,263$42,611$37,582
5 years$39,353$37,474$35,691$33,998$32,392$27,586
6 years$32,465$30,600$28,843$27,189$25,631$21,051
7 years$27,548$25,698$23,969$22,353$20,845$16,492
8 years$23,861$22,028$20,328$18,752$17,293$13,165
9 years$20,995$19,179$17,508$15,972$14,563$10,656
10 years$18,703$16,906$15,264$13,768$12,408$8,717
11 years$16,830$15,050$13,438$11,983$10,672$7,191
12 years$15,270$13,508$11,926$10,510$9,248$5,970
13 years$13,950$12,207$10,655$9,279$8,064$4,983
14 years$12,821$11,096$9,574$8,237$7,069$4,178
15 years$11,842$10,137$8,644$7,346$6,224$3,514
16 years$10,987$9,300$7,837$6,577$5,501$2,965
17 years$10,234$8,565$7,131$5,910$4,878$2,508
18 years$9,564$7,915$6,510$5,326$4,337$2,125
19 years$8,966$7,335$5,959$4,812$3,866$1,804
20 years$8,429$6,816$5,469$4,359$3,453$1,533
21 years$7,943$6,349$5,031$3,956$3,090$1,305
22 years$7,502$5,927$4,637$3,597$2,770$1,112
23 years$7,100$5,543$4,281$3,275$2,486$948
24 years$6,732$5,193$3,959$2,987$2,235$809
25 years$6,394$4,874$3,667$2,728$2,011$691
26 years$6,082$4,581$3,401$2,495$1,811$590
27 years$5,794$4,311$3,158$2,283$1,633$504
28 years$5,527$4,062$2,936$2,092$1,474$431
29 years$5,279$3,832$2,732$1,918$1,331$369
30 years$5,048$3,619$2,545$1,761$1,202$315
31 years$4,832$3,421$2,373$1,617$1,087$270
32 years$4,631$3,237$2,214$1,486$983$231
33 years$4,441$3,066$2,067$1,367$890$198
34 years$4,264$2,905$1,931$1,257$806$169
35 years$4,096$2,756$1,805$1,157$730$145
36 years$3,939$2,616$1,689$1,066$661$124
37 years$3,790$2,484$1,581$982$599$106
38 years$3,650$2,361$1,480$905$543$91
39 years$3,517$2,245$1,387$835$493$78
40 years$3,391$2,136$1,300$770$447$67
41 years$3,271$2,033$1,219$710$405$57
42 years$3,157$1,936$1,143$656$368$49
43 years$3,049$1,845$1,073$605$334$42
44 years$2,947$1,759$1,007$559$303$36
45 years$2,849$1,677$946$516$275$31
46 years$2,755$1,600$888$477$250$26
47 years$2,666$1,527$834$440$227$23
48 years$2,581$1,457$784$407$206$19
49 years$2,499$1,392$737$376$187$17
50 years$2,421$1,330$693$348$170$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,480,000, adding $3,418 every year, while hoping to spend $37,346 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: 41/32/27 Blend
53$2,480,000$2,480,000$2,480,000$2,480,000
54$2,736,486$2,605,046$2,566,606$2,826,825
55$2,975,871$2,692,957$2,612,851$2,980,277
56$3,238,423$2,783,924$2,659,394$3,142,510
57$3,526,463$2,878,058$2,706,205$3,317,400
58$3,842,552$2,975,472$2,753,253$3,506,132
59$4,189,508$3,076,286$2,800,502$3,710,011
60$4,570,437$3,180,623$2,847,918$3,930,471
61$4,988,759$3,288,611$2,895,461$4,169,091
62$5,448,242$3,400,383$2,943,088$4,427,604
63$5,953,037$3,516,076$2,990,756$4,707,922
64$6,507,716$3,635,834$3,038,416$5,012,144
65$7,117,319$3,759,805$3,086,019$5,342,582
66$7,787,394$3,888,144$3,133,509$5,701,782
67$8,524,057$4,021,011$3,180,830$6,092,544
68$9,334,043$4,158,573$3,227,920$6,517,949
69$10,224,774$4,301,002$3,274,714$6,981,392
70$11,204,427$4,448,478$3,321,144$7,486,608
71$12,282,012$4,601,187$3,367,135$8,037,711
72$13,467,455$4,759,322$3,412,612$8,639,227
73$14,771,693$4,923,086$3,457,491$9,296,145
74$16,206,775$5,092,687$3,501,687$10,013,953
75$17,785,979$5,268,342$3,545,107$10,798,699
76$19,523,935$5,450,276$3,587,653$11,657,041
77$21,436,761$5,638,725$3,629,225$12,596,313
78$23,542,219$5,833,931$3,669,712$13,624,590
79$25,859,880$6,036,148$3,709,002$14,750,769
80$28,411,307$6,245,638$3,746,973$15,984,648
81$31,220,261$6,462,676$3,783,498$17,337,018
82$34,312,926$6,687,545$3,818,443$18,819,768
83$37,718,151$6,920,541$3,851,667$20,445,992
84$41,467,726$7,161,971$3,883,022$22,230,116
85$45,596,681$7,412,154$3,912,349$24,188,030
86$50,143,615$7,671,423$3,939,486$26,337,241
87$55,151,063$7,940,122$3,964,258$28,697,033
88$60,665,894$8,218,610$3,986,483$31,288,654
89$66,739,754$8,507,261$4,005,969$34,135,509
90$73,429,555$8,806,463$4,022,516$37,263,387
91$80,798,010$9,116,620$4,035,910$40,700,700
92$88,914,224$9,438,152$4,045,930$44,478,751
93$97,854,349$9,771,495$4,052,343$48,632,026
94$107,702,299$10,117,105$4,054,903$53,198,527
95$118,550,545$10,475,454$4,053,354$58,220,118
96$130,500,984$10,847,035$4,047,424$63,742,931
97$143,665,903$11,232,359$4,036,832$69,817,792
98$158,169,040$11,631,959$4,021,281$76,500,704
99$174,146,747$12,046,390$4,000,458$83,853,373
100$191,749,281$12,476,228$3,974,039$91,943,792