Can I retire at age 54 with 2,740,000?

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 $2,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$226,267$224,251$222,285$220,366$218,491$211,922
2 years$112,013$109,927$107,905$105,945$104,044$97,480
3 years$73,934$71,839$69,822$67,880$66,010$59,658
4 years$54,898$52,809$50,812$48,904$47,079$40,988
5 years$43,479$41,403$39,433$37,563$35,788$29,975
6 years$35,869$33,809$31,867$30,039$28,318$22,787
7 years$30,436$28,392$26,482$24,697$23,030$17,781
8 years$26,362$24,337$22,459$20,718$19,106$14,135
9 years$23,196$21,190$19,344$17,647$16,090$11,393
10 years$20,664$18,678$16,864$15,212$13,709$9,280
11 years$18,594$16,628$14,847$13,239$11,790$7,620
12 years$16,870$14,924$13,176$11,612$10,217$6,298
13 years$15,413$13,487$11,772$10,252$8,910$5,232
14 years$14,165$12,260$10,577$9,100$7,810$4,365
15 years$13,084$11,199$9,550$8,116$6,877$3,654
16 years$12,139$10,275$8,658$7,267$6,078$3,067
17 years$11,307$9,463$7,879$6,529$5,389$2,581
18 years$10,567$8,744$7,192$5,884$4,792$2,176
19 years$9,906$8,104$6,584$5,317$4,271$1,837
20 years$9,312$7,531$6,043$4,815$3,815$1,553
21 years$8,776$7,015$5,558$4,370$3,414$1,315
22 years$8,288$6,548$5,123$3,974$3,060$1,114
23 years$7,844$6,124$4,730$3,619$2,747$945
24 years$7,438$5,738$4,374$3,301$2,469$802
25 years$7,064$5,385$4,052$3,014$2,222$681
26 years$6,720$5,061$3,758$2,756$2,001$578
27 years$6,402$4,763$3,489$2,523$1,804$491
28 years$6,107$4,488$3,244$2,311$1,628$418
29 years$5,833$4,234$3,019$2,120$1,470$355
30 years$5,577$3,998$2,812$1,945$1,328$302
31 years$5,339$3,780$2,621$1,787$1,201$257
32 years$5,116$3,576$2,446$1,642$1,086$219
33 years$4,907$3,387$2,284$1,510$983$186
34 years$4,711$3,210$2,134$1,389$890$158
35 years$4,526$3,045$1,995$1,279$806$135
36 years$4,352$2,890$1,866$1,178$730$115
37 years$4,187$2,745$1,747$1,085$662$98
38 years$4,032$2,608$1,636$1,000$600$83
39 years$3,885$2,480$1,532$922$544$71
40 years$3,746$2,360$1,436$851$494$60
41 years$3,614$2,246$1,347$785$448$51
42 years$3,488$2,139$1,263$724$406$44
43 years$3,369$2,038$1,185$669$369$37
44 years$3,256$1,943$1,113$617$335$32
45 years$3,147$1,853$1,045$570$304$27
46 years$3,044$1,768$981$527$276$23
47 years$2,946$1,687$922$487$251$20
48 years$2,851$1,610$866$450$228$17
49 years$2,761$1,538$814$416$207$14
50 years$2,675$1,469$766$384$188$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,740,000, adding $5,535 every year, while hoping to spend $53,991 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: 71/7/22 Blend
53$2,740,000$2,740,000$2,740,000$2,740,000
54$3,025,189$2,879,969$2,837,499$3,223,132
55$3,276,313$2,963,642$2,875,110$3,439,567
56$3,551,241$3,049,605$2,912,170$3,669,566
57$3,852,345$3,137,913$2,948,606$3,920,080
58$4,182,237$3,228,624$2,984,337$4,193,139
59$4,543,792$3,321,793$3,019,278$4,490,978
60$4,940,177$3,417,479$3,053,342$4,816,060
61$5,374,880$3,515,740$3,086,434$5,171,095
62$5,851,743$3,616,636$3,118,455$5,559,073
63$6,374,997$3,720,229$3,149,300$5,983,285
64$6,949,305$3,826,578$3,178,860$6,447,358
65$7,579,800$3,935,746$3,207,017$6,955,287
66$8,272,138$4,047,795$3,233,650$7,511,475
67$9,032,548$4,162,790$3,258,630$8,120,771
68$9,867,896$4,280,794$3,281,822$8,788,520
69$10,785,741$4,401,872$3,303,082$9,520,610
70$11,794,412$4,526,090$3,322,261$10,323,530
71$12,903,086$4,653,513$3,339,202$11,204,427
72$14,121,873$4,784,207$3,353,737$12,171,179
73$15,461,911$4,918,240$3,365,694$13,232,467
74$16,935,470$5,055,678$3,374,888$14,397,855
75$18,556,070$5,196,588$3,381,129$15,677,882
76$20,338,606$5,341,038$3,384,214$17,084,163
77$22,299,490$5,489,095$3,383,932$18,629,494
78$24,456,805$5,640,827$3,380,060$20,327,980
79$26,830,472$5,796,301$3,372,366$22,195,159
80$29,442,445$5,955,584$3,360,604$24,248,157
81$32,316,910$6,118,743$3,344,520$26,505,847
82$35,480,516$6,285,844$3,323,843$28,989,022
83$38,962,631$6,456,952$3,298,294$31,720,601
84$42,795,608$6,632,132$3,267,576$34,725,838
85$47,015,102$6,811,447$3,231,381$38,032,561
86$51,660,395$6,994,961$3,189,385$41,671,440
87$56,774,775$7,182,734$3,141,249$45,676,271
88$62,405,941$7,374,827$3,086,619$50,084,298
89$68,606,449$7,571,296$3,025,124$54,936,563
90$75,434,216$7,772,198$2,956,374$60,278,297
91$82,953,056$7,977,586$2,879,963$66,159,342
92$91,233,292$8,187,511$2,795,465$72,634,627
93$100,352,410$8,402,022$2,702,437$79,764,682
94$110,395,799$8,621,164$2,600,411$87,616,213
95$121,457,548$8,844,978$2,488,902$96,262,732
96$133,641,338$9,073,503$2,367,401$105,785,249
97$147,061,421$9,306,771$2,235,375$116,273,038
98$161,843,696$9,544,813$2,092,270$127,824,481
99$178,126,896$9,787,652$1,937,505$140,547,997
100$196,063,900$10,035,307$1,770,471$154,563,063