Can I retire at age 54 with 2,540,000?

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 $2,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$209,751$207,882$206,060$204,280$202,543$200,930
2 years$103,837$101,903$100,029$98,212$96,449$94,823
3 years$68,537$66,595$64,725$62,925$61,191$59,603
4 years$50,891$48,954$47,103$45,334$43,642$42,103
5 years$40,305$38,381$36,554$34,821$33,176$31,691
6 years$33,251$31,341$29,541$27,847$26,251$24,822
7 years$28,214$26,320$24,549$22,894$21,349$19,977
8 years$24,438$22,561$20,819$19,205$17,711$16,396
9 years$21,503$19,643$17,932$16,359$14,915$13,656
10 years$19,156$17,315$15,633$14,101$12,709$11,505
11 years$17,237$15,414$13,763$12,272$10,930$9,781
12 years$15,639$13,835$12,215$10,765$9,472$8,377
13 years$14,288$12,503$10,913$9,503$8,259$7,217
14 years$13,131$11,365$9,805$8,436$7,240$6,249
15 years$12,129$10,382$8,853$7,524$6,375$5,433
16 years$11,253$9,525$8,026$6,737$5,634$4,741
17 years$10,481$8,772$7,304$6,053$4,996$4,149
18 years$9,796$8,106$6,667$5,455$4,442$3,641
19 years$9,183$7,513$6,104$4,929$3,959$3,202
20 years$8,633$6,981$5,602$4,464$3,536$2,821
21 years$8,135$6,503$5,152$4,051$3,165$2,490
22 years$7,683$6,070$4,749$3,684$2,837$2,201
23 years$7,272$5,677$4,385$3,355$2,546$1,948
24 years$6,895$5,319$4,055$3,060$2,289$1,726
25 years$6,549$4,992$3,756$2,794$2,059$1,530
26 years$6,229$4,691$3,483$2,555$1,855$1,358
27 years$5,934$4,415$3,235$2,339$1,673$1,207
28 years$5,661$4,160$3,007$2,143$1,509$1,073
29 years$5,407$3,925$2,798$1,965$1,363$954
30 years$5,170$3,707$2,606$1,803$1,231$849
31 years$4,949$3,504$2,430$1,656$1,113$756
32 years$4,743$3,315$2,267$1,522$1,007$673
33 years$4,549$3,140$2,117$1,400$911$600
34 years$4,367$2,976$1,978$1,288$825$535
35 years$4,195$2,822$1,849$1,185$747$477
36 years$4,034$2,679$1,730$1,092$677$425
37 years$3,882$2,544$1,619$1,006$614$379
38 years$3,738$2,418$1,516$927$556$338
39 years$3,602$2,299$1,421$855$505$302
40 years$3,473$2,188$1,331$789$458$269
41 years$3,350$2,082$1,248$728$415$240
42 years$3,234$1,983$1,171$671$377$215
43 years$3,123$1,890$1,099$620$342$192
44 years$3,018$1,801$1,032$572$310$171
45 years$2,918$1,718$969$529$282$153
46 years$2,822$1,639$910$488$256$136
47 years$2,731$1,564$855$451$232$122
48 years$2,643$1,493$803$417$211$109
49 years$2,560$1,425$755$385$192$97
50 years$2,480$1,362$710$356$174$87

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,540,000, adding $2,775 every year, while hoping to spend $58,459 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: 56/21/23 Blend
53$2,540,000$2,540,000$2,540,000$2,540,000
54$2,801,942$2,667,322$2,627,952$2,941,182
55$3,025,541$2,735,821$2,653,789$3,105,287
56$3,269,987$2,805,717$2,678,532$3,277,565
57$3,537,345$2,877,017$2,702,082$3,464,014
58$3,829,889$2,949,726$2,724,337$3,666,013
59$4,150,123$3,023,847$2,745,187$3,885,081
60$4,500,802$3,099,383$2,764,517$4,122,893
61$4,884,962$3,176,331$2,782,208$4,381,294
62$5,305,947$3,254,690$2,798,130$4,662,316
63$5,767,438$3,334,454$2,812,152$4,968,199
64$6,273,490$3,415,616$2,824,132$5,301,409
65$6,828,569$3,498,164$2,833,924$5,664,666
66$7,437,595$3,582,085$2,841,372$6,060,966
67$8,105,985$3,667,363$2,846,313$6,493,610
68$8,839,708$3,753,977$2,848,577$6,966,238
69$9,645,339$3,841,902$2,847,985$7,482,857
70$10,530,119$3,931,111$2,844,349$8,047,887
71$11,502,028$4,021,572$2,837,471$8,666,198
72$12,569,852$4,113,247$2,827,144$9,343,156
73$13,743,276$4,206,094$2,813,151$10,084,676
74$15,032,964$4,300,067$2,795,266$10,897,276
75$16,450,669$4,395,113$2,773,250$11,788,139
76$18,009,336$4,491,173$2,746,853$12,765,184
77$19,723,230$4,588,181$2,715,814$13,837,136
78$21,608,064$4,686,067$2,679,858$15,013,612
79$23,681,153$4,784,750$2,638,700$16,305,213
80$25,961,572$4,884,145$2,592,038$17,723,619
81$28,470,340$4,984,156$2,539,559$19,281,706
82$31,230,614$5,084,678$2,480,933$20,993,665
83$34,267,909$5,185,600$2,415,817$22,875,134
84$37,610,339$5,286,798$2,343,851$24,943,351
85$41,288,881$5,388,139$2,264,657$27,217,314
86$45,337,666$5,489,477$2,177,842$29,717,961
87$49,794,303$5,590,656$2,082,995$32,468,369
88$54,700,231$5,691,507$1,979,684$35,493,971
89$60,101,111$5,791,848$1,867,460$38,822,800
90$66,047,257$5,891,481$1,745,853$42,485,749
91$72,594,109$5,990,194$1,614,370$46,516,869
92$79,802,755$6,087,761$1,472,499$50,953,688
93$87,740,510$6,183,936$1,319,702$55,837,566
94$96,481,550$6,278,457$1,155,420$61,214,085
95$106,107,609$6,371,041$979,067$67,133,487
96$116,708,751$6,461,388$790,031$73,651,141
97$128,384,221$6,549,174$587,675$80,828,070
98$141,243,382$6,634,054$371,333$88,731,529
99$155,406,742$6,715,658$140,307$97,435,641
100$171,007,096$6,793,591$0$107,022,097