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%11.1%
1 years$226,267$224,251$222,285$220,366$218,491$217,479
2 years$112,013$109,927$107,905$105,945$104,044$103,022
3 years$73,934$71,839$69,822$67,880$66,010$65,010
4 years$54,898$52,809$50,812$48,904$47,079$46,109
5 years$43,479$41,403$39,433$37,563$35,788$34,851
6 years$35,869$33,809$31,867$30,039$28,318$27,415
7 years$30,436$28,392$26,482$24,697$23,030$22,161
8 years$26,362$24,337$22,459$20,718$19,106$18,271
9 years$23,196$21,190$19,344$17,647$16,090$15,290
10 years$20,664$18,678$16,864$15,212$13,709$12,943
11 years$18,594$16,628$14,847$13,239$11,790$11,058
12 years$16,870$14,924$13,176$11,612$10,217$9,517
13 years$15,413$13,487$11,772$10,252$8,910$8,242
14 years$14,165$12,260$10,577$9,100$7,810$7,174
15 years$13,084$11,199$9,550$8,116$6,877$6,271
16 years$12,139$10,275$8,658$7,267$6,078$5,501
17 years$11,307$9,463$7,879$6,529$5,389$4,842
18 years$10,567$8,744$7,192$5,884$4,792$4,272
19 years$9,906$8,104$6,584$5,317$4,271$3,779
20 years$9,312$7,531$6,043$4,815$3,815$3,349
21 years$8,776$7,015$5,558$4,370$3,414$2,973
22 years$8,288$6,548$5,123$3,974$3,060$2,643
23 years$7,844$6,124$4,730$3,619$2,747$2,354
24 years$7,438$5,738$4,374$3,301$2,469$2,098
25 years$7,064$5,385$4,052$3,014$2,222$1,872
26 years$6,720$5,061$3,758$2,756$2,001$1,672
27 years$6,402$4,763$3,489$2,523$1,804$1,495
28 years$6,107$4,488$3,244$2,311$1,628$1,337
29 years$5,833$4,234$3,019$2,120$1,470$1,197
30 years$5,577$3,998$2,812$1,945$1,328$1,072
31 years$5,339$3,780$2,621$1,787$1,201$961
32 years$5,116$3,576$2,446$1,642$1,086$861
33 years$4,907$3,387$2,284$1,510$983$772
34 years$4,711$3,210$2,134$1,389$890$693
35 years$4,526$3,045$1,995$1,279$806$622
36 years$4,352$2,890$1,866$1,178$730$558
37 years$4,187$2,745$1,747$1,085$662$501
38 years$4,032$2,608$1,636$1,000$600$450
39 years$3,885$2,480$1,532$922$544$405
40 years$3,746$2,360$1,436$851$494$364
41 years$3,614$2,246$1,347$785$448$327
42 years$3,488$2,139$1,263$724$406$294
43 years$3,369$2,038$1,185$669$369$264
44 years$3,256$1,943$1,113$617$335$237
45 years$3,147$1,853$1,045$570$304$214
46 years$3,044$1,768$981$527$276$192
47 years$2,946$1,687$922$487$251$173
48 years$2,851$1,610$866$450$228$155
49 years$2,761$1,538$814$416$207$140
50 years$2,675$1,469$766$384$188$126

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 $5,394 every year, while hoping to spend $36,630 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: 46/40/14 Blend
53$2,740,000$2,740,000$2,740,000$2,740,000
54$3,025,044$2,879,824$2,837,354$3,151,970
55$3,294,624$2,981,961$2,893,431$3,342,768
56$3,590,474$3,087,876$2,950,159$3,545,477
57$3,915,235$3,197,713$3,007,522$3,764,583
58$4,271,814$3,311,627$3,065,499$4,001,620
59$4,663,418$3,429,775$3,124,072$4,258,277
60$5,093,575$3,552,323$3,183,217$4,536,410
61$5,566,174$3,679,441$3,242,909$4,838,058
62$6,085,500$3,811,310$3,303,123$5,165,464
63$6,656,272$3,948,115$3,363,828$5,521,095
64$7,283,689$4,090,050$3,424,994$5,907,664
65$7,973,479$4,237,317$3,486,585$6,328,153
66$8,731,954$4,390,125$3,548,566$6,785,845
67$9,566,067$4,548,695$3,610,897$7,284,351
68$10,483,478$4,713,253$3,673,534$7,827,643
69$11,492,628$4,884,037$3,736,432$8,420,094
70$12,602,816$5,061,295$3,799,543$9,066,514
71$13,824,288$5,245,283$3,862,812$9,772,198
72$15,168,333$5,436,270$3,926,185$10,542,972
73$16,647,392$5,634,536$3,989,600$11,385,253
74$18,275,168$5,840,371$4,052,994$12,306,099
75$20,066,765$6,054,079$4,116,299$13,313,284
76$22,038,822$6,275,976$4,179,442$14,415,366
77$24,209,674$6,506,391$4,242,346$15,621,766
78$26,599,524$6,745,667$4,304,928$16,942,857
79$29,230,634$6,994,163$4,367,101$18,390,062
80$32,127,532$7,252,250$4,428,772$19,975,958
81$35,317,248$7,520,318$4,489,844$21,714,397
82$38,829,565$7,798,772$4,550,212$23,620,630
83$42,697,303$8,088,034$4,609,765$25,711,457
84$46,956,624$8,388,543$4,668,389$28,005,376
85$51,647,378$8,700,760$4,725,958$30,522,764
86$56,813,476$9,025,163$4,782,343$33,286,062
87$62,503,305$9,362,250$4,837,406$36,319,987
88$68,770,184$9,712,543$4,891,001$39,651,767
89$75,672,869$10,076,584$4,942,976$43,311,391
90$83,276,104$10,454,938$4,993,168$47,331,893
91$91,651,233$10,848,197$5,041,406$51,749,664
92$100,876,876$11,256,976$5,087,510$56,604,788
93$111,039,667$11,681,918$5,131,291$61,941,426
94$122,235,074$12,123,692$5,172,550$67,808,224
95$134,568,296$12,582,998$5,211,075$74,258,773
96$148,155,263$13,060,565$5,246,647$81,352,114
97$163,123,721$13,557,154$5,279,031$89,153,292
98$179,614,446$14,073,560$5,307,984$97,733,965
99$197,782,566$14,610,612$5,333,248$107,173,082
100$217,799,029$15,169,173$5,354,553$117,557,625