Can I retire at age 54 with 2,880,000?

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 $2,880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$237,828$235,709$233,642$231,625$229,655$225,387
2 years$117,736$115,544$113,419$111,358$109,360$105,076
3 years$77,711$75,509$73,389$71,348$69,382$65,216
4 years$57,703$55,507$53,409$51,402$49,484$45,467
5 years$45,701$43,518$41,447$39,482$37,617$33,761
6 years$37,702$35,536$33,496$31,574$29,765$26,075
7 years$31,991$29,843$27,835$25,959$24,207$20,683
8 years$27,709$25,581$23,606$21,776$20,082$16,723
9 years$24,381$22,273$20,332$18,548$16,912$13,717
10 years$21,720$19,632$17,726$15,989$14,410$11,375
11 years$19,544$17,478$15,606$13,915$12,393$9,515
12 years$17,732$15,687$13,850$12,205$10,739$8,015
13 years$16,200$14,176$12,374$10,776$9,365$6,789
14 years$14,888$12,886$11,118$9,565$8,209$5,777
15 years$13,752$11,772$10,038$8,531$7,228$4,935
16 years$12,759$10,800$9,101$7,638$6,388$4,229
17 years$11,884$9,947$8,281$6,863$5,664$3,634
18 years$11,107$9,191$7,560$6,185$5,036$3,130
19 years$10,413$8,518$6,921$5,589$4,489$2,701
20 years$9,788$7,916$6,351$5,062$4,010$2,334
21 years$9,224$7,373$5,842$4,594$3,588$2,020
22 years$8,712$6,882$5,384$4,177$3,216$1,751
23 years$8,245$6,437$4,972$3,804$2,887$1,519
24 years$7,818$6,031$4,598$3,469$2,595$1,319
25 years$7,425$5,660$4,259$3,168$2,335$1,146
26 years$7,063$5,319$3,950$2,897$2,103$996
27 years$6,729$5,006$3,668$2,652$1,896$867
28 years$6,419$4,717$3,409$2,429$1,711$754
29 years$6,131$4,450$3,173$2,228$1,545$657
30 years$5,862$4,203$2,955$2,045$1,396$572
31 years$5,612$3,973$2,755$1,878$1,262$499
32 years$5,377$3,759$2,571$1,726$1,142$435
33 years$5,158$3,560$2,400$1,587$1,033$379
34 years$4,951$3,374$2,243$1,460$936$331
35 years$4,757$3,200$2,097$1,344$847$288
36 years$4,574$3,038$1,961$1,238$768$252
37 years$4,401$2,885$1,836$1,141$696$219
38 years$4,238$2,742$1,719$1,051$631$192
39 years$4,084$2,607$1,611$969$572$167
40 years$3,937$2,480$1,510$894$519$146
41 years$3,799$2,361$1,416$825$471$127
42 years$3,667$2,249$1,328$761$427$111
43 years$3,541$2,143$1,246$703$388$97
44 years$3,422$2,042$1,170$649$352$85
45 years$3,308$1,948$1,098$599$319$74
46 years$3,200$1,858$1,031$554$290$65
47 years$3,096$1,773$969$511$263$56
48 years$2,997$1,693$911$473$239$49
49 years$2,902$1,616$856$437$217$43
50 years$2,812$1,544$805$404$197$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,880,000, adding $2,787 every year, while hoping to spend $47,984 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: 69/20/11 Blend
53$2,880,000$2,880,000$2,880,000$2,880,000
54$3,176,635$3,023,995$2,979,355$3,388,351
55$3,449,597$3,121,116$3,028,109$3,626,347
56$3,748,793$3,221,388$3,076,887$3,880,567
57$4,076,848$3,324,914$3,125,641$4,157,415
58$4,436,654$3,431,802$3,174,318$4,459,106
59$4,831,395$3,542,162$3,222,859$4,788,080
60$5,264,578$3,656,110$3,271,207$5,147,019
61$5,740,069$3,773,763$3,319,296$5,538,881
62$6,262,122$3,895,244$3,367,058$5,966,919
63$6,835,427$4,020,679$3,414,423$6,434,717
64$7,465,148$4,150,199$3,461,313$6,946,220
65$8,156,974$4,283,940$3,507,648$7,505,776
66$8,917,173$4,422,041$3,553,343$8,118,169
67$9,752,651$4,564,647$3,598,306$8,788,669
68$10,671,014$4,711,908$3,642,442$9,523,083
69$11,680,643$4,863,977$3,685,649$10,327,803
70$12,790,772$5,021,015$3,727,822$11,209,872
71$14,011,573$5,183,187$3,768,846$12,177,047
72$15,354,255$5,350,664$3,808,603$13,237,873
73$16,831,165$5,523,623$3,846,968$14,401,762
74$18,455,909$5,702,246$3,883,807$15,679,084
75$20,243,478$5,886,722$3,918,981$17,081,261
76$22,210,389$6,077,248$3,952,343$18,620,877
77$24,374,840$6,274,024$3,983,737$20,311,794
78$26,756,884$6,477,261$4,013,002$22,169,285
79$29,378,614$6,687,175$4,039,966$24,210,176
80$32,264,375$6,903,989$4,064,447$26,453,006
81$35,440,991$7,127,934$4,086,256$28,918,197
82$38,938,021$7,359,252$4,105,194$31,628,254
83$42,788,031$7,598,188$4,121,051$34,607,968
84$47,026,911$7,844,999$4,133,606$37,884,658
85$51,694,203$8,099,951$4,142,629$41,488,419
86$56,833,481$8,363,318$4,147,877$45,452,416
87$62,492,759$8,635,384$4,149,094$49,813,189
88$68,724,945$8,916,442$4,146,013$54,610,998
89$75,588,338$9,206,797$4,138,353$59,890,206
90$83,147,182$9,506,762$4,125,820$65,699,694
91$91,472,265$9,816,665$4,108,106$72,093,324
92$100,641,595$10,136,840$4,084,887$79,130,444
93$110,741,130$10,467,638$4,055,823$86,876,451
94$121,865,592$10,809,419$4,020,560$95,403,404
95$134,119,358$11,162,556$3,978,725$104,790,707
96$147,617,448$11,527,437$3,929,927$115,125,856
97$162,486,608$11,904,461$3,873,759$126,505,262
98$178,866,505$12,294,043$3,809,794$139,035,167
99$196,911,049$12,696,611$3,737,582$152,832,639
100$216,789,841$13,112,611$3,656,657$168,026,680