Can I retire at age 54 with 2,720,000?

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 $2,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$224,615$222,614$220,662$218,757$216,897$213,391
2 years$111,196$109,125$107,118$105,172$103,284$99,762
3 years$73,394$71,314$69,312$67,384$65,528$62,099
4 years$54,497$52,423$50,442$48,547$46,735$43,425
5 years$43,162$41,101$39,145$37,289$35,527$32,347
6 years$35,607$33,562$31,635$29,820$28,111$25,064
7 years$30,213$28,185$26,289$24,517$22,862$19,948
8 years$26,170$24,160$22,295$20,566$18,966$16,185
9 years$23,027$21,035$19,203$17,518$15,972$13,323
10 years$20,513$18,542$16,741$15,101$13,609$11,089
11 years$18,458$16,507$14,739$13,142$11,704$9,311
12 years$16,747$14,815$13,080$11,527$10,143$7,873
13 years$15,300$13,389$11,686$10,177$8,845$6,695
14 years$14,061$12,170$10,500$9,034$7,753$5,721
15 years$12,988$11,118$9,480$8,057$6,827$4,907
16 years$12,051$10,200$8,595$7,214$6,033$4,223
17 years$11,224$9,394$7,821$6,482$5,350$3,644
18 years$10,490$8,680$7,140$5,841$4,757$3,152
19 years$9,834$8,045$6,536$5,278$4,240$2,732
20 years$9,244$7,476$5,999$4,780$3,787$2,372
21 years$8,712$6,963$5,518$4,338$3,389$2,062
22 years$8,228$6,500$5,085$3,945$3,038$1,796
23 years$7,787$6,079$4,695$3,592$2,727$1,565
24 years$7,383$5,696$4,342$3,277$2,451$1,365
25 years$7,013$5,345$4,022$2,992$2,205$1,192
26 years$6,671$5,024$3,730$2,736$1,987$1,041
27 years$6,355$4,728$3,464$2,504$1,791$910
28 years$6,062$4,455$3,220$2,295$1,616$796
29 years$5,790$4,203$2,997$2,104$1,459$697
30 years$5,537$3,969$2,791$1,931$1,319$610
31 years$5,300$3,752$2,602$1,774$1,192$534
32 years$5,079$3,550$2,428$1,630$1,078$468
33 years$4,871$3,362$2,267$1,499$976$410
34 years$4,676$3,187$2,118$1,379$884$359
35 years$4,493$3,023$1,980$1,270$800$315
36 years$4,320$2,869$1,852$1,169$725$276
37 years$4,157$2,725$1,734$1,077$657$242
38 years$4,003$2,589$1,624$993$596$213
39 years$3,857$2,462$1,521$916$540$186
40 years$3,719$2,343$1,426$844$490$164
41 years$3,588$2,230$1,337$779$445$143
42 years$3,463$2,124$1,254$719$403$126
43 years$3,345$2,024$1,177$664$366$110
44 years$3,232$1,929$1,105$613$332$97
45 years$3,124$1,839$1,037$566$302$85
46 years$3,022$1,755$974$523$274$75
47 years$2,924$1,674$915$483$249$66
48 years$2,831$1,599$860$446$226$58
49 years$2,741$1,526$808$412$205$50
50 years$2,656$1,458$760$381$186$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,720,000, adding $4,967 every year, while hoping to spend $45,582 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: 45/28/27 Blend
53$2,720,000$2,720,000$2,720,000$2,720,000
54$3,002,563$2,858,403$2,816,243$3,114,048
55$3,260,326$2,949,966$2,862,089$3,285,242
56$3,542,853$3,044,488$2,907,942$3,466,009
57$3,852,621$3,142,066$2,953,756$3,661,176
58$4,192,361$3,242,799$2,999,479$3,872,111
59$4,565,077$3,346,791$3,045,057$4,100,319
60$4,974,081$3,454,150$3,090,432$4,347,458
61$5,423,019$3,564,985$3,135,543$4,615,351
62$5,915,908$3,679,411$3,180,326$4,906,007
63$6,457,175$3,797,546$3,224,710$5,221,635
64$7,051,692$3,919,512$3,268,624$5,564,669
65$7,704,831$4,045,434$3,311,989$5,937,785
66$8,422,506$4,175,443$3,354,723$6,343,935
67$9,211,236$4,309,674$3,396,740$6,786,364
68$10,078,200$4,448,265$3,437,949$7,268,650
69$11,031,307$4,591,361$3,478,251$7,794,729
70$12,079,273$4,739,111$3,517,545$8,368,940
71$13,231,699$4,891,667$3,555,723$8,996,057
72$14,499,164$5,049,190$3,592,671$9,681,342
73$15,893,321$5,211,843$3,628,268$10,430,590
74$17,427,012$5,379,796$3,662,388$11,250,183
75$19,114,386$5,553,224$3,694,896$12,147,152
76$20,971,032$5,732,310$3,725,653$13,129,241
77$23,014,125$5,917,241$3,754,510$14,204,982
78$25,262,591$6,108,212$3,781,312$15,383,775
79$27,737,283$6,305,421$3,805,893$16,675,972
80$30,461,177$6,509,079$3,828,082$18,092,983
81$33,459,592$6,719,398$3,847,698$19,647,373
82$36,760,423$6,936,601$3,864,548$21,352,989
83$40,394,409$7,160,918$3,878,434$23,225,086
84$44,395,421$7,392,586$3,889,144$25,280,472
85$48,800,782$7,631,850$3,896,458$27,537,666
86$53,651,615$7,878,964$3,900,143$30,017,070
87$58,993,238$8,134,191$3,899,955$32,741,169
88$64,875,584$8,397,803$3,895,640$35,734,731
89$71,353,679$8,670,081$3,886,929$39,025,053
90$78,488,154$8,951,314$3,873,541$42,642,208
91$86,345,822$9,241,805$3,855,181$46,619,336
92$95,000,307$9,541,864$3,831,541$50,992,952
93$104,532,736$9,851,813$3,802,295$55,803,291
94$115,032,508$10,171,985$3,767,105$61,094,691
95$126,598,136$10,502,725$3,725,615$66,916,005
96$139,338,176$10,844,388$3,677,454$73,321,067
97$153,372,252$11,197,345$3,622,230$80,369,200
98$168,832,183$11,561,976$3,559,536$88,125,771
99$185,863,230$11,938,677$3,488,945$96,662,812
100$204,625,464$12,327,857$3,410,009$106,059,697