Can I retire at age 54 with 2,240,000?

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 $2,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$184,977$183,329$181,722$180,153$178,621$171,466
2 years$91,573$89,867$88,215$86,612$85,057$77,939
3 years$60,442$58,729$57,081$55,493$53,964$47,106
4 years$44,880$43,172$41,540$39,980$38,488$31,942
5 years$35,545$33,848$32,237$30,708$29,258$23,042
6 years$29,324$27,639$26,052$24,558$23,151$17,268
7 years$24,882$23,211$21,649$20,190$18,828$13,276
8 years$21,552$19,896$18,360$16,937$15,619$10,392
9 years$18,963$17,323$15,814$14,427$13,154$8,244
10 years$16,893$15,270$13,787$12,436$11,208$6,605
11 years$15,201$13,594$12,138$10,823$9,639$5,333
12 years$13,792$12,201$10,772$9,493$8,353$4,332
13 years$12,600$11,026$9,624$8,381$7,284$3,536
14 years$11,580$10,022$8,647$7,440$6,385$2,897
15 years$10,696$9,156$7,807$6,635$5,622$2,380
16 years$9,924$8,400$7,078$5,941$4,969$1,961
17 years$9,243$7,736$6,441$5,338$4,406$1,619
18 years$8,639$7,149$5,880$4,810$3,917$1,338
19 years$8,099$6,625$5,383$4,347$3,491$1,108
20 years$7,613$6,157$4,940$3,937$3,119$918
21 years$7,174$5,735$4,544$3,573$2,791$762
22 years$6,776$5,353$4,188$3,249$2,502$633
23 years$6,413$5,007$3,867$2,959$2,246$526
24 years$6,080$4,691$3,576$2,698$2,018$437
25 years$5,775$4,402$3,312$2,464$1,816$363
26 years$5,494$4,137$3,072$2,253$1,636$302
27 years$5,234$3,894$2,853$2,062$1,475$251
28 years$4,992$3,669$2,652$1,890$1,331$209
29 years$4,768$3,461$2,468$1,733$1,202$174
30 years$4,560$3,269$2,299$1,590$1,086$145
31 years$4,365$3,090$2,143$1,461$982$121
32 years$4,182$2,924$1,999$1,342$888$101
33 years$4,012$2,769$1,867$1,234$804$84
34 years$3,851$2,624$1,744$1,136$728$70
35 years$3,700$2,489$1,631$1,045$659$58
36 years$3,558$2,363$1,526$963$597$48
37 years$3,423$2,244$1,428$887$541$40
38 years$3,296$2,132$1,337$818$491$34
39 years$3,176$2,028$1,253$754$445$28
40 years$3,062$1,929$1,174$695$404$23
41 years$2,954$1,836$1,101$642$366$19
42 years$2,852$1,749$1,033$592$332$16
43 years$2,754$1,666$969$547$302$14
44 years$2,661$1,588$910$505$274$11
45 years$2,573$1,515$854$466$248$9
46 years$2,489$1,445$802$431$226$8
47 years$2,408$1,379$754$398$205$7
48 years$2,331$1,316$708$368$186$5
49 years$2,257$1,257$666$340$169$5
50 years$2,187$1,201$626$314$153$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,240,000, adding $2,993 every year, while hoping to spend $48,444 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: 42/46/12 Blend
53$2,240,000$2,240,000$2,240,000$2,240,000
54$2,471,567$2,352,847$2,318,127$2,566,563
55$2,672,123$2,416,593$2,344,241$2,697,178
56$2,891,512$2,481,838$2,369,605$2,833,462
57$3,131,604$2,548,606$2,394,144$2,979,964
58$3,394,457$2,616,917$2,417,778$3,137,637
59$3,682,340$2,686,794$2,440,422$3,307,531
60$3,997,749$2,758,257$2,461,986$3,490,800
61$4,343,433$2,831,326$2,482,376$3,688,716
62$4,722,421$2,906,019$2,501,494$3,902,676
63$5,138,049$2,982,355$2,519,235$4,134,220
64$5,593,991$3,060,350$2,535,490$4,385,044
65$6,094,291$3,140,021$2,550,142$4,657,014
66$6,643,409$3,221,382$2,563,072$4,952,185
67$7,246,252$3,304,446$2,574,150$5,272,819
68$7,908,230$3,389,224$2,583,245$5,621,409
69$8,635,300$3,475,726$2,590,214$6,000,699
70$9,434,024$3,563,960$2,594,910$6,413,714
71$10,311,633$3,653,933$2,597,178$6,863,783
72$11,276,091$3,745,647$2,596,855$7,354,573
73$12,336,174$3,839,105$2,593,770$7,890,127
74$13,501,547$3,934,304$2,587,745$8,474,895
75$14,782,861$4,031,241$2,578,590$9,113,783
76$16,191,850$4,129,910$2,566,111$9,812,192
77$17,741,442$4,230,298$2,550,098$10,576,077
78$19,445,880$4,332,394$2,530,338$11,411,997
79$21,320,857$4,436,179$2,506,601$12,327,178
80$23,383,664$4,541,631$2,478,652$13,329,583
81$25,653,351$4,648,725$2,446,241$14,427,988
82$28,150,911$4,757,430$2,409,108$15,632,060
83$30,899,470$4,867,711$2,366,979$16,952,453
84$33,924,513$4,979,526$2,319,570$18,400,908
85$37,254,120$5,092,828$2,266,582$19,990,362
86$40,919,229$5,207,566$2,207,702$21,735,070
87$44,953,933$5,323,680$2,142,602$23,650,743
88$49,395,797$5,441,102$2,070,942$25,754,693
89$54,286,212$5,559,760$1,992,362$28,065,998
90$59,670,789$5,679,572$1,906,490$30,605,683
91$65,599,786$5,800,447$1,812,933$33,396,918
92$72,128,581$5,922,286$1,711,284$36,465,235
93$79,318,199$6,044,980$1,601,114$39,838,775
94$87,235,881$6,168,410$1,481,977$43,548,545
95$95,955,724$6,292,446$1,353,407$47,628,722
96$105,559,378$6,416,946$1,214,916$52,116,967
97$116,136,814$6,541,755$1,065,995$57,054,786
98$127,787,175$6,666,707$906,112$62,487,919
99$140,619,711$6,791,621$734,711$68,466,777
100$154,754,812$6,916,300$551,214$75,046,913