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%18.8%
1 years$226,267$224,251$222,285$220,366$218,491$210,739
2 years$112,013$109,927$107,905$105,945$104,044$96,316
3 years$73,934$71,839$69,822$67,880$66,010$58,549
4 years$54,898$52,809$50,812$48,904$47,079$39,943
5 years$43,479$41,403$39,433$37,563$35,788$28,996
6 years$35,869$33,809$31,867$30,039$28,318$21,874
7 years$30,436$28,392$26,482$24,697$23,030$16,933
8 years$26,362$24,337$22,459$20,718$19,106$13,350
9 years$23,196$21,190$19,344$17,647$16,090$10,669
10 years$20,664$18,678$16,864$15,212$13,709$8,613
11 years$18,594$16,628$14,847$13,239$11,790$7,009
12 years$16,870$14,924$13,176$11,612$10,217$5,739
13 years$15,413$13,487$11,772$10,252$8,910$4,723
14 years$14,165$12,260$10,577$9,100$7,810$3,902
15 years$13,084$11,199$9,550$8,116$6,877$3,234
16 years$12,139$10,275$8,658$7,267$6,078$2,687
17 years$11,307$9,463$7,879$6,529$5,389$2,238
18 years$10,567$8,744$7,192$5,884$4,792$1,867
19 years$9,906$8,104$6,584$5,317$4,271$1,560
20 years$9,312$7,531$6,043$4,815$3,815$1,305
21 years$8,776$7,015$5,558$4,370$3,414$1,093
22 years$8,288$6,548$5,123$3,974$3,060$916
23 years$7,844$6,124$4,730$3,619$2,747$768
24 years$7,438$5,738$4,374$3,301$2,469$645
25 years$7,064$5,385$4,052$3,014$2,222$541
26 years$6,720$5,061$3,758$2,756$2,001$455
27 years$6,402$4,763$3,489$2,523$1,804$382
28 years$6,107$4,488$3,244$2,311$1,628$321
29 years$5,833$4,234$3,019$2,120$1,470$270
30 years$5,577$3,998$2,812$1,945$1,328$227
31 years$5,339$3,780$2,621$1,787$1,201$191
32 years$5,116$3,576$2,446$1,642$1,086$161
33 years$4,907$3,387$2,284$1,510$983$135
34 years$4,711$3,210$2,134$1,389$890$114
35 years$4,526$3,045$1,995$1,279$806$96
36 years$4,352$2,890$1,866$1,178$730$80
37 years$4,187$2,745$1,747$1,085$662$68
38 years$4,032$2,608$1,636$1,000$600$57
39 years$3,885$2,480$1,532$922$544$48
40 years$3,746$2,360$1,436$851$494$40
41 years$3,614$2,246$1,347$785$448$34
42 years$3,488$2,139$1,263$724$406$29
43 years$3,369$2,038$1,185$669$369$24
44 years$3,256$1,943$1,113$617$335$20
45 years$3,147$1,853$1,045$570$304$17
46 years$3,044$1,768$981$527$276$14
47 years$2,946$1,687$922$487$251$12
48 years$2,851$1,610$866$450$228$10
49 years$2,761$1,538$814$416$207$9
50 years$2,675$1,469$766$384$188$7

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 $6,669 every year, while hoping to spend $46,395 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: 58/37/5 Blend
53$2,740,000$2,740,000$2,740,000$2,740,000
54$3,026,359$2,881,139$2,838,669$3,198,729
55$3,285,684$2,972,951$2,884,401$3,406,919
56$3,569,905$3,067,707$2,930,109$3,627,843
57$3,881,512$3,165,501$2,975,745$3,867,452
58$4,223,249$3,266,434$3,021,255$4,127,534
59$4,598,137$3,370,605$3,066,583$4,410,056
60$5,009,502$3,478,121$3,111,670$4,717,184
61$5,461,011$3,589,088$3,156,450$5,051,298
62$5,956,702$3,703,621$3,200,859$5,415,019
63$6,501,020$3,821,833$3,244,822$5,811,232
64$7,098,866$3,943,845$3,288,266$6,243,110
65$7,755,637$4,069,780$3,331,109$6,714,147
66$8,477,278$4,199,765$3,373,268$7,228,189
67$9,270,340$4,333,933$3,414,651$7,789,467
68$10,142,037$4,472,419$3,455,165$8,402,644
69$11,100,321$4,615,363$3,494,709$9,072,849
70$12,153,949$4,762,911$3,533,177$9,805,731
71$13,312,571$4,915,213$3,570,458$10,607,511
72$14,586,819$5,072,424$3,606,433$11,485,038
73$15,988,405$5,234,703$3,640,980$12,445,854
74$17,530,236$5,402,217$3,673,966$13,498,267
75$19,226,530$5,575,136$3,705,254$14,651,424
76$21,092,955$5,753,637$3,734,699$15,915,399
77$23,146,773$5,937,901$3,762,147$17,301,290
78$25,407,004$6,128,118$3,787,439$18,821,318
79$27,894,605$6,324,483$3,810,405$20,488,945
80$30,632,668$6,527,196$3,830,867$22,319,001
81$33,646,637$6,736,465$3,848,638$24,327,818
82$36,964,548$6,952,507$3,863,522$26,533,390
83$40,617,294$7,175,541$3,875,312$28,955,538
84$44,638,914$7,405,799$3,883,791$31,616,098
85$49,066,917$7,643,517$3,888,732$34,539,123
86$53,942,634$7,888,941$3,889,896$37,751,114
87$59,311,607$8,142,323$3,887,032$41,281,265
88$65,224,020$8,403,926$3,879,876$45,161,741
89$71,735,172$8,674,020$3,868,154$49,427,976
90$78,905,999$8,952,886$3,851,576$54,119,014
91$86,803,645$9,240,812$3,829,838$59,277,866
92$95,502,102$9,538,097$3,802,623$64,951,926
93$105,082,903$9,845,050$3,769,598$71,193,409
94$115,635,893$10,161,992$3,730,413$78,059,846
95$127,260,076$10,489,251$3,684,703$85,614,627
96$140,064,548$10,827,169$3,632,086$93,927,596
97$154,169,532$11,176,100$3,572,160$103,075,709
98$169,707,503$11,536,407$3,504,506$113,143,760
99$186,824,446$11,908,470$3,428,686$124,225,183
100$205,681,232$12,292,677$3,344,239$136,422,924