Can I retire at age 54 with 2,640,000?

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 $2,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$218,009$216,067$214,172$212,323$210,517$209,191
2 years$107,925$105,915$103,967$102,078$100,246$98,908
3 years$71,235$69,217$67,274$65,403$63,600$62,292
4 years$52,894$50,882$48,958$47,119$45,360$44,092
5 years$41,892$39,892$37,993$36,192$34,482$33,257
6 years$34,560$32,575$30,704$28,943$27,285$26,105
7 years$29,325$27,356$25,515$23,796$22,190$21,056
8 years$25,400$23,449$21,639$19,961$18,408$17,321
9 years$22,349$20,417$18,638$17,003$15,503$14,461
10 years$19,910$17,996$16,249$14,657$13,209$12,212
11 years$17,916$16,021$14,305$12,756$11,360$10,408
12 years$16,255$14,380$12,695$11,188$9,844$8,935
13 years$14,850$12,995$11,343$9,878$8,585$7,718
14 years$13,648$11,812$10,191$8,768$7,525$6,700
15 years$12,606$10,791$9,201$7,820$6,626$5,842
16 years$11,696$9,900$8,342$7,002$5,856$5,111
17 years$10,894$9,118$7,591$6,291$5,192$4,486
18 years$10,181$8,425$6,930$5,669$4,617$3,947
19 years$9,545$7,808$6,344$5,123$4,115$3,481
20 years$8,973$7,256$5,822$4,640$3,676$3,076
21 years$8,455$6,759$5,355$4,211$3,289$2,723
22 years$7,986$6,309$4,936$3,829$2,948$2,414
23 years$7,558$5,901$4,557$3,487$2,647$2,143
24 years$7,166$5,528$4,215$3,180$2,379$1,904
25 years$6,806$5,188$3,904$2,904$2,141$1,694
26 years$6,475$4,876$3,620$2,656$1,928$1,508
27 years$6,168$4,589$3,362$2,431$1,738$1,344
28 years$5,884$4,324$3,125$2,227$1,569$1,199
29 years$5,620$4,079$2,908$2,042$1,416$1,069
30 years$5,374$3,852$2,709$1,874$1,280$955
31 years$5,144$3,642$2,526$1,721$1,157$853
32 years$4,929$3,446$2,356$1,582$1,047$762
33 years$4,728$3,263$2,200$1,455$947$681
34 years$4,539$3,093$2,056$1,339$858$609
35 years$4,361$2,934$1,922$1,232$777$545
36 years$4,193$2,784$1,798$1,135$704$488
37 years$4,035$2,645$1,683$1,046$638$436
38 years$3,885$2,513$1,576$964$578$391
39 years$3,743$2,390$1,476$889$524$350
40 years$3,609$2,274$1,384$820$476$313
41 years$3,482$2,164$1,298$756$432$281
42 years$3,361$2,061$1,217$698$392$251
43 years$3,246$1,964$1,142$644$355$225
44 years$3,137$1,872$1,072$595$323$202
45 years$3,032$1,785$1,007$549$293$181
46 years$2,933$1,703$946$507$266$162
47 years$2,838$1,625$888$469$241$145
48 years$2,747$1,551$835$433$219$130
49 years$2,661$1,482$785$400$199$117
50 years$2,578$1,415$738$370$181$105

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,640,000, adding $6,316 every year, while hoping to spend $25,543 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: 53/37/10 Blend
53$2,640,000$2,640,000$2,640,000$2,640,000
54$2,915,795$2,775,875$2,734,955$3,062,565
55$3,186,028$2,884,715$2,799,398$3,271,847
56$3,482,970$2,998,033$2,865,145$3,496,120
57$3,809,316$3,116,020$2,932,210$3,739,518
58$4,168,039$3,238,877$3,000,612$4,003,856
59$4,562,411$3,366,815$3,070,365$4,291,130
60$4,996,041$3,500,052$3,141,486$4,603,533
61$5,472,901$3,638,819$3,213,990$4,943,476
62$5,997,370$3,783,354$3,287,891$5,313,611
63$6,574,271$3,933,907$3,363,205$5,716,854
64$7,208,918$4,090,741$3,439,944$6,156,412
65$7,907,168$4,254,127$3,518,122$6,635,813
66$8,675,472$4,424,352$3,597,752$7,158,936
67$9,520,939$4,601,714$3,678,846$7,730,050
68$10,451,402$4,786,525$3,761,414$8,353,854
69$11,475,490$4,979,110$3,845,466$9,035,515
70$12,602,714$5,179,810$3,931,013$9,780,720
71$13,843,551$5,388,982$4,018,063$10,595,729
72$15,209,548$5,606,996$4,106,622$11,487,430
73$16,713,426$5,834,243$4,196,698$12,463,405
74$18,369,203$6,071,129$4,288,296$13,532,000
75$20,192,327$6,318,079$4,381,418$14,702,403
76$22,199,817$6,575,538$4,476,069$15,984,728
77$24,410,429$6,843,970$4,572,248$17,390,109
78$26,844,830$7,123,861$4,669,955$18,930,805
79$29,525,792$7,415,721$4,769,189$20,620,315
80$32,478,411$7,720,079$4,869,944$22,473,501
81$35,730,338$8,037,492$4,972,216$24,506,730
82$39,312,044$8,368,540$5,075,997$26,738,021
83$43,257,106$8,713,832$5,181,277$29,187,223
84$47,602,525$9,074,004$5,288,043$31,876,189
85$52,389,071$9,449,719$5,396,282$34,828,992
86$57,661,675$9,841,674$5,505,976$38,072,139
87$63,469,845$10,250,595$5,617,106$41,634,828
88$69,868,139$10,677,244$5,729,648$45,549,217
89$76,916,677$11,122,417$5,843,579$49,850,725
90$84,681,708$11,586,945$5,958,869$54,578,367
91$93,236,238$12,071,701$6,075,487$59,775,118
92$102,660,715$12,577,595$6,193,396$65,488,314
93$113,043,791$13,105,581$6,312,558$71,770,100
94$124,483,159$13,656,656$6,432,931$78,677,917
95$137,086,474$14,231,864$6,554,466$86,275,042
96$150,972,366$14,832,298$6,677,113$94,631,181
97$166,271,566$15,459,099$6,800,815$103,823,128
98$183,128,136$16,113,464$6,925,512$113,935,480
99$201,700,826$16,796,645$7,051,137$125,061,437
100$222,164,580$17,509,950$7,177,620$137,303,678