Can I retire at age 54 with 2,840,000?

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 $2,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$234,525$232,436$230,397$228,408$226,466$220,276
2 years$116,101$113,939$111,843$109,812$107,841$101,650
3 years$76,632$74,460$72,370$70,357$68,419$62,421
4 years$56,901$54,736$52,667$50,689$48,797$43,038
5 years$45,066$42,914$40,872$38,934$37,094$31,590
6 years$37,178$35,042$33,030$31,136$29,352$24,107
7 years$31,546$29,429$27,448$25,598$23,871$18,886
8 years$27,324$25,226$23,278$21,474$19,803$15,076
9 years$24,042$21,964$20,050$18,291$16,677$12,203
10 years$21,418$19,360$17,480$15,767$14,210$9,983
11 years$19,273$17,235$15,389$13,722$12,221$8,234
12 years$17,486$15,469$13,657$12,036$10,590$6,837
13 years$15,975$13,980$12,202$10,626$9,235$5,707
14 years$14,682$12,707$10,963$9,433$8,095$4,784
15 years$13,561$11,608$9,899$8,412$7,128$4,024
16 years$12,582$10,650$8,974$7,532$6,300$3,395
17 years$11,719$9,808$8,166$6,768$5,586$2,872
18 years$10,953$9,063$7,455$6,099$4,966$2,433
19 years$10,268$8,400$6,825$5,511$4,427$2,066
20 years$9,652$7,806$6,263$4,991$3,954$1,756
21 years$9,096$7,271$5,761$4,530$3,538$1,494
22 years$8,591$6,787$5,310$4,119$3,172$1,273
23 years$8,131$6,348$4,903$3,751$2,847$1,086
24 years$7,709$5,947$4,534$3,421$2,559$926
25 years$7,322$5,581$4,199$3,124$2,303$791
26 years$6,965$5,245$3,895$2,857$2,074$676
27 years$6,635$4,937$3,617$2,615$1,870$577
28 years$6,330$4,652$3,362$2,396$1,687$494
29 years$6,046$4,388$3,129$2,197$1,524$422
30 years$5,781$4,144$2,914$2,016$1,377$361
31 years$5,534$3,918$2,717$1,852$1,245$309
32 years$5,303$3,707$2,535$1,702$1,126$265
33 years$5,086$3,511$2,367$1,565$1,019$226
34 years$4,882$3,327$2,211$1,440$923$194
35 years$4,691$3,156$2,068$1,326$836$166
36 years$4,511$2,995$1,934$1,221$757$142
37 years$4,340$2,845$1,810$1,125$686$122
38 years$4,179$2,704$1,695$1,037$622$104
39 years$4,027$2,571$1,588$956$564$89
40 years$3,883$2,446$1,489$882$512$77
41 years$3,746$2,328$1,396$813$464$66
42 years$3,616$2,217$1,309$751$421$56
43 years$3,492$2,113$1,229$693$382$48
44 years$3,374$2,014$1,153$640$347$41
45 years$3,262$1,920$1,083$591$315$35
46 years$3,155$1,832$1,017$546$286$30
47 years$3,053$1,748$956$504$260$26
48 years$2,955$1,669$898$466$236$22
49 years$2,862$1,594$844$431$214$19
50 years$2,773$1,522$794$398$195$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,840,000, adding $5,720 every year, while hoping to spend $51,108 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: 48/42/10 Blend
53$2,840,000$2,840,000$2,840,000$2,840,000
54$3,135,580$2,985,060$2,941,040$3,277,281
55$3,401,031$3,076,950$2,985,187$3,467,134
56$3,691,845$3,171,629$3,029,099$3,667,340
57$4,010,554$3,269,180$3,072,715$3,883,541
58$4,359,950$3,369,689$3,115,970$4,117,243
59$4,743,104$3,473,243$3,158,795$4,370,102
60$5,163,401$3,579,932$3,201,114$4,643,943
61$5,624,567$3,689,849$3,242,851$4,940,768
62$6,130,710$3,803,088$3,283,923$5,262,783
63$6,686,351$3,919,747$3,324,243$5,612,415
64$7,296,471$4,039,928$3,363,718$5,992,333
65$7,966,560$4,163,733$3,402,251$6,405,477
66$8,702,662$4,291,268$3,439,740$6,855,079
67$9,511,437$4,422,644$3,476,074$7,344,701
68$10,400,222$4,557,972$3,511,141$7,878,261
69$11,377,099$4,697,367$3,544,819$8,460,072
70$12,450,973$4,840,948$3,576,981$9,094,884
71$13,631,655$4,988,838$3,607,492$9,787,927
72$14,929,953$5,141,160$3,636,213$10,544,958
73$16,357,776$5,298,044$3,662,993$11,372,319
74$17,928,243$5,459,622$3,687,677$12,276,990
75$19,655,809$5,626,029$3,710,100$13,266,662
76$21,556,403$5,797,405$3,730,089$14,349,803
77$23,647,571$5,973,894$3,747,462$15,535,739
78$25,948,650$6,155,641$3,762,029$16,834,744
79$28,480,943$6,342,798$3,773,587$18,258,133
80$31,267,924$6,535,520$3,781,927$19,818,369
81$34,335,457$6,733,966$3,786,828$21,529,181
82$37,712,043$6,938,299$3,788,055$23,405,691
83$41,429,083$7,148,688$3,785,367$25,464,560
84$45,521,179$7,365,303$3,778,506$27,724,140
85$50,026,459$7,588,322$3,767,205$30,204,649
86$54,986,933$7,817,926$3,751,182$32,928,361
87$60,448,896$8,054,300$3,730,143$35,919,815
88$66,463,358$8,297,635$3,703,777$39,206,045
89$73,086,528$8,548,127$3,671,761$42,816,838
90$80,380,345$8,805,976$3,633,756$46,785,009
91$88,413,060$9,071,388$3,589,406$51,146,715
92$97,259,879$9,344,573$3,538,339$55,941,792
93$107,003,678$9,625,749$3,480,164$61,214,133
94$117,735,778$9,915,135$3,414,475$67,012,099
95$129,556,811$10,212,960$3,340,843$73,388,977
96$142,577,666$10,519,456$3,258,822$80,403,480
97$156,920,540$10,834,861$3,167,944$88,120,300
98$172,720,085$11,159,419$3,067,720$96,610,722
99$190,124,683$11,493,380$2,957,639$105,953,293
100$209,297,846$11,837,001$2,837,165$116,234,559