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

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 $2,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$226,267$224,251$222,285$220,366$218,491$216,480
2 years$112,013$109,927$107,905$105,945$104,044$102,017
3 years$73,934$71,839$69,822$67,880$66,010$64,031
4 years$54,898$52,809$50,812$48,904$47,079$45,163
5 years$43,479$41,403$39,433$37,563$35,788$33,941
6 years$35,869$33,809$31,867$30,039$28,318$26,542
7 years$30,436$28,392$26,482$24,697$23,030$21,325
8 years$26,362$24,337$22,459$20,718$19,106$17,472
9 years$23,196$21,190$19,344$17,647$16,090$14,528
10 years$20,664$18,678$16,864$15,212$13,709$12,217
11 years$18,594$16,628$14,847$13,239$11,790$10,367
12 years$16,870$14,924$13,176$11,612$10,217$8,862
13 years$15,413$13,487$11,772$10,252$8,910$7,620
14 years$14,165$12,260$10,577$9,100$7,810$6,585
15 years$13,084$11,199$9,550$8,116$6,877$5,714
16 years$12,139$10,275$8,658$7,267$6,078$4,976
17 years$11,307$9,463$7,879$6,529$5,389$4,346
18 years$10,567$8,744$7,192$5,884$4,792$3,805
19 years$9,906$8,104$6,584$5,317$4,271$3,339
20 years$9,312$7,531$6,043$4,815$3,815$2,936
21 years$8,776$7,015$5,558$4,370$3,414$2,585
22 years$8,288$6,548$5,123$3,974$3,060$2,280
23 years$7,844$6,124$4,730$3,619$2,747$2,013
24 years$7,438$5,738$4,374$3,301$2,469$1,779
25 years$7,064$5,385$4,052$3,014$2,222$1,574
26 years$6,720$5,061$3,758$2,756$2,001$1,394
27 years$6,402$4,763$3,489$2,523$1,804$1,235
28 years$6,107$4,488$3,244$2,311$1,628$1,096
29 years$5,833$4,234$3,019$2,120$1,470$972
30 years$5,577$3,998$2,812$1,945$1,328$863
31 years$5,339$3,780$2,621$1,787$1,201$766
32 years$5,116$3,576$2,446$1,642$1,086$681
33 years$4,907$3,387$2,284$1,510$983$605
34 years$4,711$3,210$2,134$1,389$890$538
35 years$4,526$3,045$1,995$1,279$806$478
36 years$4,352$2,890$1,866$1,178$730$426
37 years$4,187$2,745$1,747$1,085$662$379
38 years$4,032$2,608$1,636$1,000$600$337
39 years$3,885$2,480$1,532$922$544$300
40 years$3,746$2,360$1,436$851$494$267
41 years$3,614$2,246$1,347$785$448$238
42 years$3,488$2,139$1,263$724$406$212
43 years$3,369$2,038$1,185$669$369$188
44 years$3,256$1,943$1,113$617$335$168
45 years$3,147$1,853$1,045$570$304$149
46 years$3,044$1,768$981$527$276$133
47 years$2,946$1,687$922$487$251$119
48 years$2,851$1,610$866$450$228$106
49 years$2,761$1,538$814$416$207$94
50 years$2,675$1,469$766$384$188$84

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 $2,970 every year, while hoping to spend $40,486 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: 40/30/30 Blend
53$2,740,000$2,740,000$2,740,000$2,740,000
54$3,022,544$2,877,324$2,834,854$3,116,576
55$3,287,766$2,975,236$2,886,744$3,283,413
56$3,578,685$3,076,588$2,939,017$3,459,841
57$3,897,877$3,181,508$2,991,640$3,649,967
58$4,248,183$3,290,125$3,044,583$3,855,074
59$4,632,732$3,402,574$3,097,810$4,076,571
60$5,054,968$3,518,998$3,151,284$4,316,012
61$5,518,688$3,639,542$3,204,965$4,575,102
62$6,028,072$3,764,358$3,258,810$4,855,720
63$6,587,728$3,893,604$3,312,773$5,159,932
64$7,202,730$4,027,444$3,366,805$5,490,011
65$7,878,668$4,166,049$3,420,852$5,848,458
66$8,621,702$4,309,595$3,474,860$6,238,028
67$9,438,617$4,458,266$3,528,769$6,661,750
68$10,336,888$4,612,253$3,582,515$7,122,961
69$11,324,752$4,771,755$3,636,030$7,625,332
70$12,411,283$4,936,977$3,689,244$8,172,907
71$13,606,480$5,108,135$3,742,080$8,770,136
72$14,921,358$5,285,451$3,794,457$9,421,921
73$16,368,055$5,469,157$3,846,289$10,133,659
74$17,959,943$5,659,492$3,897,487$10,911,291
75$19,711,758$5,856,708$3,947,954$11,761,363
76$21,639,735$6,061,064$3,997,588$12,691,080
77$23,761,763$6,272,832$4,046,282$13,708,382
78$26,097,554$6,492,291$4,093,923$14,822,009
79$28,668,826$6,719,735$4,140,391$16,041,591
80$31,499,511$6,955,467$4,185,559$17,377,733
81$34,615,980$7,199,803$4,229,294$18,842,119
82$38,047,289$7,453,073$4,271,455$20,447,615
83$41,825,457$7,715,618$4,311,893$22,208,398
84$45,985,765$7,987,794$4,350,452$24,140,083
85$50,567,088$8,269,972$4,386,968$26,259,872
86$55,612,266$8,562,535$4,421,266$28,586,715
87$61,168,503$8,865,885$4,453,165$31,141,492
88$67,287,815$9,180,439$4,482,471$33,947,201
89$74,027,522$9,506,630$4,508,983$37,029,183
90$81,450,783$9,844,909$4,532,488$40,415,356
91$89,627,199$10,195,746$4,552,762$44,136,478
92$98,633,466$10,559,629$4,569,572$48,226,438
93$108,554,097$10,937,068$4,582,670$52,722,574
94$119,482,222$11,328,593$4,591,797$57,666,023
95$131,520,469$11,734,753$4,596,682$63,102,114
96$144,781,924$12,156,124$4,597,039$69,080,787
97$159,391,209$12,593,303$4,592,568$75,657,071
98$175,485,649$13,046,911$4,582,956$82,891,598
99$193,216,573$13,517,598$4,567,873$90,851,175
100$212,750,740$14,006,036$4,546,973$99,609,415