Can I retire at age 54 with 2,710,000?

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 $2,710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$223,789$221,796$219,851$217,953$216,099$209,939
2 years$110,787$108,723$106,724$104,785$102,904$96,746
3 years$73,124$71,052$69,057$67,137$65,287$59,323
4 years$54,297$52,231$50,256$48,368$46,563$40,840
5 years$43,003$40,950$39,001$37,151$35,397$29,930
6 years$35,476$33,438$31,518$29,710$28,008$22,802
7 years$30,102$28,081$26,192$24,426$22,778$17,834
8 years$26,074$24,071$22,213$20,491$18,897$14,211
9 years$22,942$20,958$19,132$17,454$15,914$11,482
10 years$20,438$18,474$16,680$15,045$13,559$9,375
11 years$18,391$16,446$14,684$13,094$11,661$7,718
12 years$16,686$14,761$13,032$11,485$10,106$6,396
13 years$15,244$13,340$11,643$10,140$8,812$5,328
14 years$14,010$12,125$10,462$9,001$7,725$4,457
15 years$12,941$11,077$9,445$8,027$6,801$3,742
16 years$12,006$10,163$8,564$7,187$6,011$3,150
17 years$11,183$9,359$7,793$6,458$5,330$2,658
18 years$10,451$8,649$7,114$5,820$4,739$2,248
19 years$9,798$8,015$6,512$5,259$4,224$1,904
20 years$9,210$7,448$5,977$4,763$3,773$1,615
21 years$8,680$6,938$5,497$4,322$3,376$1,371
22 years$8,198$6,476$5,067$3,930$3,026$1,165
23 years$7,758$6,057$4,678$3,579$2,717$991
24 years$7,356$5,675$4,326$3,264$2,442$844
25 years$6,987$5,326$4,007$2,981$2,197$719
26 years$6,646$5,005$3,716$2,726$1,979$612
27 years$6,332$4,711$3,451$2,495$1,784$522
28 years$6,040$4,439$3,208$2,286$1,610$445
29 years$5,769$4,187$2,985$2,096$1,454$380
30 years$5,516$3,955$2,781$1,924$1,314$324
31 years$5,281$3,738$2,593$1,767$1,188$277
32 years$5,060$3,537$2,419$1,624$1,074$236
33 years$4,853$3,350$2,259$1,493$972$202
34 years$4,659$3,175$2,110$1,374$880$172
35 years$4,476$3,011$1,973$1,265$797$147
36 years$4,304$2,858$1,846$1,165$722$126
37 years$4,142$2,715$1,727$1,073$655$107
38 years$3,988$2,580$1,618$989$594$92
39 years$3,843$2,453$1,516$912$538$78
40 years$3,705$2,334$1,421$841$488$67
41 years$3,574$2,222$1,332$776$443$57
42 years$3,450$2,116$1,250$716$402$49
43 years$3,332$2,016$1,172$661$365$42
44 years$3,220$1,922$1,101$611$331$36
45 years$3,113$1,833$1,033$564$301$31
46 years$3,011$1,748$971$521$273$26
47 years$2,913$1,668$912$481$248$22
48 years$2,820$1,593$857$445$225$19
49 years$2,731$1,521$805$411$204$16
50 years$2,646$1,453$757$380$186$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,710,000, adding $5,728 every year, while hoping to spend $54,497 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: 70/24/6 Blend
53$2,710,000$2,710,000$2,710,000$2,710,000
54$2,992,328$2,848,698$2,806,693$3,199,010
55$3,239,562$2,930,300$2,842,733$3,417,947
56$3,510,186$3,014,074$2,878,154$3,650,149
57$3,806,530$3,100,069$2,912,877$3,902,713
58$4,131,158$3,188,334$2,946,820$4,177,622
59$4,486,893$3,278,919$2,979,896$4,477,064
60$4,876,845$3,371,876$3,012,012$4,803,444
61$5,304,440$3,467,254$3,043,070$5,159,410
62$5,773,449$3,565,106$3,072,970$5,547,880
63$6,288,028$3,665,483$3,101,601$5,972,066
64$6,852,753$3,768,438$3,128,851$6,435,504
65$7,472,665$3,874,023$3,154,599$6,942,089
66$8,153,318$3,982,291$3,178,719$7,496,110
67$8,900,828$4,093,295$3,201,078$8,102,291
68$9,721,934$4,207,088$3,221,535$8,765,835
69$10,624,060$4,323,723$3,239,945$9,492,473
70$11,615,382$4,443,254$3,256,152$10,288,517
71$12,704,911$4,565,734$3,269,993$11,160,922
72$13,902,572$4,691,215$3,281,298$12,117,345
73$15,219,300$4,819,750$3,289,887$13,166,225
74$16,667,143$4,951,391$3,295,572$14,316,857
75$18,259,372$5,086,190$3,298,154$15,579,480
76$20,010,613$5,224,198$3,297,427$16,965,376
77$21,936,976$5,365,465$3,293,172$18,486,973
78$24,056,216$5,510,041$3,285,161$20,157,964
79$26,387,890$5,657,973$3,273,154$21,993,433
80$28,953,550$5,809,309$3,256,900$24,010,004
81$31,776,941$5,964,094$3,236,135$26,225,987
82$34,884,228$6,122,373$3,210,584$28,661,560
83$38,304,237$6,284,188$3,179,958$31,338,954
84$42,068,736$6,449,579$3,143,952$34,282,665
85$46,212,723$6,618,585$3,102,250$37,519,682
86$50,774,765$6,791,240$3,054,521$41,079,744
87$55,797,359$6,967,579$3,000,415$44,995,619
88$61,327,330$7,147,630$2,939,569$49,303,415
89$67,416,274$7,331,421$2,871,602$54,042,917
90$74,121,049$7,518,975$2,796,114$59,257,964
91$81,504,302$7,710,311$2,712,690$64,996,863
92$89,635,068$7,905,444$2,620,893$71,312,846
93$98,589,419$8,104,384$2,520,267$78,264,568
94$108,451,178$8,307,137$2,410,334$85,916,662
95$119,312,713$8,513,703$2,290,596$94,340,352
96$131,275,811$8,724,075$2,160,531$103,614,121
97$144,452,630$8,938,241$2,019,595$113,824,453
98$158,966,765$9,156,181$1,867,219$125,066,649
99$174,954,411$9,377,870$1,702,806$137,445,726
100$192,565,647$9,603,272$1,525,737$151,077,410