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

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 $2,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$204,796$202,972$201,192$199,455$197,759$191,890
2 years$101,384$99,496$97,666$95,892$94,171$88,306
3 years$66,918$65,022$63,196$61,439$59,746$54,070
4 years$49,688$47,798$45,991$44,263$42,611$37,167
5 years$39,353$37,474$35,691$33,998$32,392$27,195
6 years$32,465$30,600$28,843$27,189$25,631$20,685
7 years$27,548$25,698$23,969$22,353$20,845$16,150
8 years$23,861$22,028$20,328$18,752$17,293$12,846
9 years$20,995$19,179$17,508$15,972$14,563$10,360
10 years$18,703$16,906$15,264$13,768$12,408$8,444
11 years$16,830$15,050$13,438$11,983$10,672$6,938
12 years$15,270$13,508$11,926$10,510$9,248$5,738
13 years$13,950$12,207$10,655$9,279$8,064$4,770
14 years$12,821$11,096$9,574$8,237$7,069$3,982
15 years$11,842$10,137$8,644$7,346$6,224$3,336
16 years$10,987$9,300$7,837$6,577$5,501$2,802
17 years$10,234$8,565$7,131$5,910$4,878$2,360
18 years$9,564$7,915$6,510$5,326$4,337$1,991
19 years$8,966$7,335$5,959$4,812$3,866$1,682
20 years$8,429$6,816$5,469$4,359$3,453$1,424
21 years$7,943$6,349$5,031$3,956$3,090$1,206
22 years$7,502$5,927$4,637$3,597$2,770$1,023
23 years$7,100$5,543$4,281$3,275$2,486$868
24 years$6,732$5,193$3,959$2,987$2,235$737
25 years$6,394$4,874$3,667$2,728$2,011$626
26 years$6,082$4,581$3,401$2,495$1,811$532
27 years$5,794$4,311$3,158$2,283$1,633$453
28 years$5,527$4,062$2,936$2,092$1,474$385
29 years$5,279$3,832$2,732$1,918$1,331$328
30 years$5,048$3,619$2,545$1,761$1,202$279
31 years$4,832$3,421$2,373$1,617$1,087$238
32 years$4,631$3,237$2,214$1,486$983$202
33 years$4,441$3,066$2,067$1,367$890$172
34 years$4,264$2,905$1,931$1,257$806$147
35 years$4,096$2,756$1,805$1,157$730$125
36 years$3,939$2,616$1,689$1,066$661$107
37 years$3,790$2,484$1,581$982$599$91
38 years$3,650$2,361$1,480$905$543$77
39 years$3,517$2,245$1,387$835$493$66
40 years$3,391$2,136$1,300$770$447$56
41 years$3,271$2,033$1,219$710$405$48
42 years$3,157$1,936$1,143$656$368$41
43 years$3,049$1,845$1,073$605$334$35
44 years$2,947$1,759$1,007$559$303$30
45 years$2,849$1,677$946$516$275$25
46 years$2,755$1,600$888$477$250$22
47 years$2,666$1,527$834$440$227$18
48 years$2,581$1,457$784$407$206$16
49 years$2,499$1,392$737$376$187$13
50 years$2,421$1,330$693$348$170$11

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 $2,914 every year, while hoping to spend $27,139 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: 61/29/10 Blend
53$2,480,000$2,480,000$2,480,000$2,480,000
54$2,735,966$2,604,526$2,566,086$2,896,459
55$2,986,159$2,703,272$2,623,174$3,103,127
56$3,260,962$2,805,947$2,681,265$3,325,166
57$3,562,856$2,912,715$2,740,364$3,566,768
58$3,894,576$3,023,747$2,800,475$3,829,823
59$4,259,133$3,139,221$2,861,601$4,116,411
60$4,659,846$3,259,323$2,923,745$4,428,819
61$5,100,368$3,384,248$2,986,910$4,769,564
62$5,584,729$3,514,200$3,051,094$5,141,414
63$6,117,364$3,649,388$3,116,298$5,547,417
64$6,703,162$3,790,035$3,182,521$5,990,925
65$7,347,509$3,936,372$3,249,761$6,475,631
66$8,056,340$4,088,638$3,318,012$7,005,594
67$8,836,191$4,247,086$3,387,270$7,585,287
68$9,694,268$4,411,979$3,457,529$8,219,632
69$10,638,507$4,583,590$3,528,780$8,914,047
70$11,677,655$4,762,205$3,601,014$9,674,497
71$12,821,347$4,948,125$3,674,219$10,507,549
72$14,080,202$5,141,660$3,748,383$11,420,436
73$15,465,919$5,343,138$3,823,490$12,421,120
74$16,991,389$5,552,899$3,899,524$13,518,368
75$18,670,818$5,771,298$3,976,465$14,721,835
76$20,519,858$5,998,707$4,054,293$16,042,155
77$22,555,754$6,235,515$4,132,983$17,491,037
78$24,797,513$6,482,127$4,212,509$19,081,376
79$27,266,074$6,738,966$4,292,843$20,827,376
80$29,984,515$7,006,476$4,373,954$22,744,681
81$32,978,261$7,285,119$4,455,807$24,850,520
82$36,275,332$7,575,378$4,538,365$27,163,872
83$39,906,602$7,877,759$4,621,588$29,705,640
84$43,906,095$8,192,788$4,705,430$32,498,852
85$48,311,300$8,521,019$4,789,845$35,568,873
86$53,163,530$8,863,026$4,874,782$38,943,643
87$58,508,308$9,219,412$4,960,186$42,653,942
88$64,395,800$9,590,807$5,045,996$46,733,679
89$70,881,285$9,977,870$5,132,150$51,220,205
90$78,025,678$10,381,288$5,218,579$56,154,674
91$85,896,106$10,801,780$5,305,211$61,582,419
92$94,566,539$11,240,098$5,391,966$67,553,387
93$104,118,492$11,697,028$5,478,762$74,122,602
94$114,641,788$12,173,392$5,565,510$81,350,687
95$126,235,411$12,670,049$5,652,116$89,304,435
96$139,008,438$13,187,897$5,738,477$98,057,430
97$153,081,071$13,727,876$5,824,488$107,690,750
98$168,585,765$14,290,967$5,910,034$118,293,722
99$185,668,487$14,878,199$5,994,994$129,964,767
100$204,490,087$15,490,644$6,079,240$142,812,326