Can I retire at age 54 with 2,220,000?

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 $2,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$183,326$181,693$180,099$178,544$177,026$170,541
2 years$90,755$89,065$87,427$85,839$84,298$77,837
3 years$59,902$58,205$56,571$54,998$53,482$47,248
4 years$44,479$42,787$41,169$39,623$38,144$32,184
5 years$35,228$33,545$31,949$30,434$28,996$23,327
6 years$29,062$27,392$25,820$24,338$22,944$17,568
7 years$24,659$23,004$21,456$20,010$18,660$13,577
8 years$21,359$19,719$18,197$16,786$15,480$10,685
9 years$18,794$17,169$15,673$14,298$13,036$8,523
10 years$16,742$15,133$13,664$12,325$11,108$6,868
11 years$15,065$13,472$12,029$10,726$9,553$5,578
12 years$13,669$12,092$10,676$9,408$8,278$4,558
13 years$12,488$10,928$9,538$8,306$7,219$3,743
14 years$11,477$9,933$8,570$7,373$6,328$3,086
15 years$10,601$9,074$7,738$6,576$5,572$2,552
16 years$9,835$8,325$7,015$5,888$4,924$2,116
17 years$9,161$7,667$6,384$5,290$4,366$1,759
18 years$8,562$7,085$5,827$4,768$3,882$1,464
19 years$8,026$6,566$5,335$4,308$3,460$1,220
20 years$7,545$6,102$4,896$3,902$3,091$1,019
21 years$7,110$5,683$4,503$3,541$2,766$851
22 years$6,715$5,305$4,150$3,220$2,479$712
23 years$6,356$4,962$3,832$2,932$2,226$595
24 years$6,026$4,649$3,544$2,674$2,000$498
25 years$5,724$4,363$3,283$2,442$1,800$417
26 years$5,445$4,100$3,044$2,233$1,621$350
27 years$5,187$3,859$2,827$2,044$1,462$293
28 years$4,948$3,636$2,628$1,873$1,319$246
29 years$4,726$3,430$2,446$1,717$1,191$206
30 years$4,519$3,240$2,278$1,576$1,076$173
31 years$4,326$3,062$2,124$1,448$973$145
32 years$4,145$2,898$1,982$1,330$880$122
33 years$3,976$2,744$1,850$1,223$797$102
34 years$3,817$2,601$1,729$1,126$721$86
35 years$3,667$2,467$1,616$1,036$653$72
36 years$3,526$2,341$1,512$954$592$60
37 years$3,393$2,224$1,415$879$536$51
38 years$3,267$2,113$1,325$810$486$43
39 years$3,148$2,010$1,242$747$441$36
40 years$3,035$1,912$1,164$689$400$30
41 years$2,928$1,820$1,091$636$363$25
42 years$2,826$1,733$1,024$587$329$21
43 years$2,730$1,652$960$542$299$18
44 years$2,638$1,574$902$500$271$15
45 years$2,550$1,501$847$462$246$13
46 years$2,466$1,432$795$427$224$10
47 years$2,387$1,367$747$394$203$9
48 years$2,310$1,305$702$364$184$7
49 years$2,237$1,246$660$337$167$6
50 years$2,167$1,190$620$311$152$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,220,000, adding $5,848 every year, while hoping to spend $39,809 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: 74/20/6 Blend
53$2,220,000$2,220,000$2,220,000$2,220,000
54$2,452,472$2,334,812$2,300,402$2,631,907
55$2,660,268$2,406,862$2,335,109$2,822,852
56$2,887,925$2,481,107$2,369,645$3,026,336
57$3,137,426$2,557,614$2,403,961$3,248,099
58$3,410,957$2,636,451$2,438,007$3,489,933
59$3,710,923$2,717,686$2,471,729$3,753,812
60$4,039,976$2,801,391$2,505,071$4,041,909
61$4,401,035$2,887,640$2,537,971$4,356,616
62$4,797,314$2,976,508$2,570,367$4,700,567
63$5,232,355$3,068,073$2,602,190$5,076,663
64$5,710,061$3,162,414$2,633,369$5,488,098
65$6,234,730$3,259,614$2,663,829$5,938,390
66$6,811,095$3,359,758$2,693,490$6,431,413
67$7,444,372$3,462,932$2,722,268$6,971,432
68$8,140,308$3,569,226$2,750,074$7,563,148
69$8,905,233$3,678,732$2,776,815$8,211,735
70$9,746,121$3,791,543$2,802,392$8,922,896
71$10,670,654$3,907,758$2,826,701$9,702,909
72$11,687,299$4,027,476$2,849,633$10,558,693
73$12,805,380$4,150,799$2,871,073$11,497,866
74$14,035,174$4,277,834$2,890,899$12,528,823
75$15,388,002$4,408,688$2,908,985$13,660,812
76$16,876,338$4,543,473$2,925,195$14,904,020
77$18,513,925$4,682,303$2,939,389$16,269,669
78$20,315,906$4,825,296$2,951,419$17,770,125
79$22,298,966$4,972,574$2,961,130$19,419,009
80$24,481,489$5,124,259$2,968,357$21,231,330
81$26,883,733$5,280,480$2,972,928$23,223,624
82$29,528,018$5,441,367$2,974,665$25,414,107
83$32,438,936$5,607,055$2,973,378$27,822,854
84$35,643,590$5,777,682$2,968,867$30,471,980
85$39,171,838$5,953,390$2,960,926$33,385,853
86$43,056,584$6,134,325$2,949,336$36,591,323
87$47,334,085$6,320,637$2,933,868$40,117,973
88$52,044,291$6,512,477$2,914,283$43,998,400
89$57,231,225$6,710,006$2,890,328$48,268,521
90$62,943,397$6,913,383$2,861,741$52,967,913
91$69,234,260$7,122,775$2,828,245$58,140,184
92$76,162,716$7,338,352$2,789,553$63,833,386
93$83,793,672$7,560,290$2,745,361$70,100,467
94$92,198,648$7,788,766$2,695,353$76,999,769
95$101,456,461$8,023,966$2,639,198$84,595,583
96$111,653,957$8,266,077$2,576,548$92,958,750
97$122,886,839$8,515,294$2,507,041$102,167,331
98$135,260,566$8,771,813$2,430,297$112,307,346
99$148,891,351$9,035,839$2,345,919$123,473,581
100$163,907,254$9,307,580$2,253,491$135,770,484