Can I retire at age 54 with 2,040,000?

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$168,461$166,961$165,497$164,068$162,672$159,323
2 years$83,397$81,843$80,338$78,879$77,463$74,104
3 years$55,046$53,486$51,984$50,538$49,146$45,881
4 years$40,873$39,318$37,831$36,410$35,051$31,907
5 years$32,371$30,825$29,359$27,966$26,645$23,630
6 years$26,705$25,171$23,726$22,365$21,084$18,201
7 years$22,660$21,139$19,716$18,387$17,147$14,396
8 years$19,627$18,120$16,721$15,425$14,225$11,607
9 years$17,270$15,777$14,402$13,138$11,979$9,492
10 years$15,385$13,906$12,556$11,326$10,207$7,847
11 years$13,844$12,380$11,054$9,857$8,778$6,543
12 years$12,560$11,112$9,810$8,646$7,607$5,494
13 years$11,475$10,042$8,765$7,633$6,634$4,638
14 years$10,546$9,128$7,875$6,775$5,815$3,933
15 years$9,741$8,338$7,110$6,043$5,120$3,348
16 years$9,038$7,650$6,446$5,410$4,525$2,859
17 years$8,418$7,045$5,866$4,861$4,012$2,448
18 years$7,867$6,510$5,355$4,381$3,567$2,101
19 years$7,376$6,034$4,902$3,959$3,180$1,806
20 years$6,933$5,607$4,499$3,585$2,840$1,555
21 years$6,534$5,223$4,138$3,254$2,542$1,341
22 years$6,171$4,875$3,814$2,958$2,278$1,158
23 years$5,840$4,560$3,522$2,694$2,045$1,000
24 years$5,538$4,272$3,257$2,457$1,838$865
25 years$5,259$4,009$3,016$2,244$1,654$749
26 years$5,003$3,768$2,798$2,052$1,490$648
27 years$4,766$3,546$2,598$1,878$1,343$562
28 years$4,547$3,341$2,415$1,721$1,212$487
29 years$4,343$3,152$2,247$1,578$1,094$422
30 years$4,153$2,977$2,093$1,448$989$366
31 years$3,975$2,814$1,952$1,330$894$318
32 years$3,809$2,663$1,821$1,222$809$276
33 years$3,653$2,522$1,700$1,124$732$240
34 years$3,507$2,390$1,589$1,034$663$208
35 years$3,370$2,267$1,485$952$600$181
36 years$3,240$2,152$1,389$877$544$157
37 years$3,118$2,044$1,300$808$493$136
38 years$3,002$1,942$1,218$745$447$119
39 years$2,893$1,847$1,141$687$405$103
40 years$2,789$1,757$1,069$633$368$90
41 years$2,691$1,673$1,003$584$333$78
42 years$2,597$1,593$941$539$303$68
43 years$2,508$1,518$883$498$275$59
44 years$2,424$1,447$828$460$249$51
45 years$2,343$1,380$778$424$226$44
46 years$2,266$1,316$731$392$205$39
47 years$2,193$1,256$686$362$187$34
48 years$2,123$1,199$645$335$169$29
49 years$2,056$1,145$606$309$154$25
50 years$1,992$1,094$570$286$140$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,040,000, adding $3,518 every year, while hoping to spend $34,325 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: 75/18/7 Blend
53$2,040,000$2,040,000$2,040,000$2,040,000
54$2,251,709$2,143,589$2,111,969$2,418,262
55$2,444,862$2,212,103$2,146,198$2,596,836
56$2,656,566$2,282,824$2,180,424$2,787,740
57$2,888,677$2,355,824$2,214,609$2,995,940
58$3,143,239$2,431,177$2,248,716$3,223,139
59$3,422,504$2,508,959$2,282,703$3,471,208
60$3,728,952$2,589,250$2,316,526$3,742,209
61$4,065,314$2,672,133$2,350,138$4,038,411
62$4,434,599$2,757,690$2,383,491$4,362,315
63$4,840,122$2,846,011$2,416,532$4,716,672
64$5,285,534$2,937,185$2,449,205$5,104,513
65$5,774,857$3,031,306$2,481,452$5,529,177
66$6,312,522$3,128,470$2,513,211$5,994,339
67$6,903,411$3,228,776$2,544,415$6,504,048
68$7,552,902$3,332,329$2,574,996$7,062,763
69$8,266,919$3,439,234$2,604,879$7,675,397
70$9,051,989$3,549,601$2,633,987$8,347,359
71$9,915,305$3,663,545$2,662,239$9,084,609
72$10,864,790$3,781,182$2,689,547$9,893,711
73$11,909,173$3,902,634$2,715,822$10,781,898
74$13,058,072$4,028,027$2,740,965$11,757,135
75$14,322,085$4,157,491$2,764,878$12,828,199
76$15,712,889$4,291,158$2,787,452$14,004,758
77$17,243,348$4,429,170$2,808,576$15,297,464
78$18,927,638$4,571,667$2,828,132$16,718,050
79$20,781,377$4,718,799$2,845,994$18,279,445
80$22,821,777$4,870,719$2,862,034$19,995,893
81$25,067,799$5,027,585$2,876,113$21,883,087
82$27,540,338$5,189,561$2,888,087$23,958,318
83$30,262,419$5,356,816$2,897,804$26,240,635
84$33,259,410$5,529,525$2,905,105$28,751,027
85$36,559,267$5,707,868$2,909,823$31,512,623
86$40,192,792$5,892,033$2,911,782$34,550,903
87$44,193,928$6,082,214$2,910,798$37,893,944
88$48,600,076$6,278,610$2,906,677$41,572,683
89$53,452,449$6,481,427$2,899,216$45,621,206
90$58,796,463$6,690,881$2,888,203$50,077,075
91$64,682,159$6,907,191$2,873,415$54,981,676
92$71,164,683$7,130,587$2,854,618$60,380,612
93$78,304,800$7,361,305$2,831,568$66,324,133
94$86,169,470$7,599,590$2,804,006$72,867,610
95$94,832,481$7,845,695$2,771,665$80,072,056
96$104,375,141$8,099,881$2,734,263$88,004,703
97$114,887,050$8,362,419$2,691,505$96,739,634
98$126,466,941$8,633,590$2,643,082$106,358,484
99$139,223,615$8,913,682$2,588,672$116,951,209
100$153,276,967$9,202,996$2,527,935$128,616,933