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%13.7%
1 years$237,828$235,709$233,642$231,625$229,655$226,130
2 years$117,736$115,544$113,419$111,358$109,360$105,817
3 years$77,711$75,509$73,389$71,348$69,382$65,932
4 years$57,703$55,507$53,409$51,402$49,484$46,152
5 years$45,701$43,518$41,447$39,482$37,617$34,414
6 years$37,702$35,536$33,496$31,574$29,765$26,694
7 years$31,991$29,843$27,835$25,959$24,207$21,270
8 years$27,709$25,581$23,606$21,776$20,082$17,277
9 years$24,381$22,273$20,332$18,548$16,912$14,239
10 years$21,720$19,632$17,726$15,989$14,410$11,866
11 years$19,544$17,478$15,606$13,915$12,393$9,976
12 years$17,732$15,687$13,850$12,205$10,739$8,446
13 years$16,200$14,176$12,374$10,776$9,365$7,192
14 years$14,888$12,886$11,118$9,565$8,209$6,153
15 years$13,752$11,772$10,038$8,531$7,228$5,285
16 years$12,759$10,800$9,101$7,638$6,388$4,555
17 years$11,884$9,947$8,281$6,863$5,664$3,936
18 years$11,107$9,191$7,560$6,185$5,036$3,410
19 years$10,413$8,518$6,921$5,589$4,489$2,960
20 years$9,788$7,916$6,351$5,062$4,010$2,574
21 years$9,224$7,373$5,842$4,594$3,588$2,241
22 years$8,712$6,882$5,384$4,177$3,216$1,954
23 years$8,245$6,437$4,972$3,804$2,887$1,706
24 years$7,818$6,031$4,598$3,469$2,595$1,490
25 years$7,425$5,660$4,259$3,168$2,335$1,303
26 years$7,063$5,319$3,950$2,897$2,103$1,140
27 years$6,729$5,006$3,668$2,652$1,896$998
28 years$6,419$4,717$3,409$2,429$1,711$875
29 years$6,131$4,450$3,173$2,228$1,545$767
30 years$5,862$4,203$2,955$2,045$1,396$672
31 years$5,612$3,973$2,755$1,878$1,262$590
32 years$5,377$3,759$2,571$1,726$1,142$518
33 years$5,158$3,560$2,400$1,587$1,033$454
34 years$4,951$3,374$2,243$1,460$936$399
35 years$4,757$3,200$2,097$1,344$847$350
36 years$4,574$3,038$1,961$1,238$768$308
37 years$4,401$2,885$1,836$1,141$696$270
38 years$4,238$2,742$1,719$1,051$631$237
39 years$4,084$2,607$1,611$969$572$209
40 years$3,937$2,480$1,510$894$519$183
41 years$3,799$2,361$1,416$825$471$161
42 years$3,667$2,249$1,328$761$427$142
43 years$3,541$2,143$1,246$703$388$124
44 years$3,422$2,042$1,170$649$352$109
45 years$3,308$1,948$1,098$599$319$96
46 years$3,200$1,858$1,031$554$290$85
47 years$3,096$1,773$969$511$263$74
48 years$2,997$1,693$911$473$239$65
49 years$2,902$1,616$856$437$217$57
50 years$2,812$1,544$805$404$197$51

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 $5,139 every year, while hoping to spend $41,683 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: 74/5/21 Blend
53$2,880,000$2,880,000$2,880,000$2,880,000
54$3,179,061$3,026,421$2,981,781$3,397,897
55$3,458,975$3,130,365$3,037,320$3,647,885
56$3,766,043$3,238,006$3,093,323$3,916,212
57$4,102,991$3,349,479$3,149,761$4,209,205
58$4,472,821$3,464,929$3,206,603$4,529,312
59$4,878,840$3,584,502$3,263,816$4,879,232
60$5,324,692$3,708,353$3,321,364$5,261,936
61$5,814,390$3,836,641$3,379,209$5,680,696
62$6,352,354$3,969,533$3,437,308$6,139,117
63$6,943,454$4,107,200$3,495,618$6,641,172
64$7,593,056$4,249,823$3,554,092$7,191,233
65$8,307,071$4,397,588$3,612,677$7,794,120
66$9,092,010$4,550,687$3,671,319$8,455,141
67$9,955,048$4,709,324$3,729,962$9,180,146
68$10,904,090$4,873,707$3,788,541$9,975,578
69$11,947,842$5,044,054$3,846,993$10,848,536
70$13,095,900$5,220,591$3,905,246$11,806,840
71$14,358,836$5,403,554$3,963,226$12,859,108
72$15,748,297$5,593,188$4,020,853$14,014,834
73$17,277,116$5,789,747$4,078,044$15,284,479
74$18,959,433$5,993,495$4,134,710$16,679,567
75$20,810,828$6,204,709$4,190,755$18,212,798
76$22,848,467$6,423,675$4,246,080$19,898,165
77$25,091,266$6,650,690$4,300,579$21,751,086
78$27,560,067$6,886,066$4,354,140$23,788,548
79$30,277,834$7,130,123$4,406,644$26,029,271
80$33,269,872$7,383,199$4,457,966$28,493,881
81$36,564,065$7,645,642$4,507,974$31,205,106
82$40,191,137$7,917,815$4,556,529$34,187,990
83$44,184,943$8,200,098$4,603,482$37,470,129
84$48,582,787$8,492,883$4,648,679$41,081,932
85$53,425,778$8,796,580$4,691,956$45,056,907
86$58,759,211$9,111,616$4,733,140$49,431,978
87$64,633,000$9,438,436$4,772,050$54,247,833
88$71,102,147$9,777,500$4,808,495$59,549,307
89$78,227,259$10,129,291$4,842,273$65,385,806
90$86,075,123$10,494,309$4,873,172$71,811,774
91$94,719,332$10,873,077$4,900,970$78,887,205
92$104,240,984$11,266,137$4,925,432$86,678,209
93$114,729,443$11,674,057$4,946,313$95,257,639
94$126,283,185$12,097,425$4,963,353$104,705,774
95$139,010,726$12,536,854$4,976,282$115,111,081
96$153,031,646$12,992,986$4,984,813$126,571,047
97$168,477,717$13,466,485$4,988,647$139,193,099
98$185,494,148$13,958,047$4,987,471$153,095,622
99$204,240,953$14,468,394$4,980,953$168,409,071
100$224,894,464$14,998,279$4,968,749$185,277,204