Can I retire at age 54 with 2,340,000?

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$193,235$191,514$189,834$188,195$186,595$184,340
2 years$95,661$93,879$92,153$90,479$88,855$86,585
3 years$63,140$61,351$59,629$57,970$56,373$54,160
4 years$46,883$45,100$43,395$41,764$40,206$38,065
5 years$37,132$35,359$33,676$32,079$30,564$28,503
6 years$30,633$28,873$27,215$25,654$24,184$22,205
7 years$25,992$24,247$22,616$21,092$19,668$17,772
8 years$22,514$20,785$19,180$17,693$16,317$14,503
9 years$19,810$18,097$16,520$15,071$13,741$12,009
10 years$17,647$15,951$14,402$12,991$11,708$10,056
11 years$15,880$14,201$12,680$11,306$10,069$8,497
12 years$14,408$12,746$11,253$9,917$8,726$7,231
13 years$13,163$11,518$10,054$8,755$7,609$6,189
14 years$12,097$10,470$9,033$7,772$6,670$5,324
15 years$11,174$9,564$8,156$6,931$5,873$4,598
16 years$10,367$8,775$7,394$6,206$5,190$3,985
17 years$9,656$8,082$6,729$5,576$4,602$3,463
18 years$9,024$7,468$6,142$5,025$4,092$3,017
19 years$8,460$6,921$5,623$4,541$3,647$2,634
20 years$7,953$6,431$5,161$4,112$3,258$2,304
21 years$7,495$5,991$4,747$3,732$2,915$2,018
22 years$7,078$5,592$4,375$3,394$2,613$1,771
23 years$6,699$5,230$4,039$3,091$2,346$1,555
24 years$6,352$4,900$3,736$2,819$2,108$1,367
25 years$6,033$4,599$3,460$2,574$1,897$1,203
26 years$5,739$4,322$3,209$2,354$1,709$1,059
27 years$5,467$4,067$2,980$2,154$1,541$934
28 years$5,215$3,833$2,770$1,974$1,390$823
29 years$4,981$3,616$2,578$1,810$1,255$726
30 years$4,763$3,415$2,401$1,661$1,134$641
31 years$4,560$3,228$2,239$1,526$1,026$566
32 years$4,369$3,054$2,089$1,402$928$500
33 years$4,191$2,893$1,950$1,289$840$442
34 years$4,023$2,741$1,822$1,186$760$391
35 years$3,865$2,600$1,704$1,092$688$345
36 years$3,716$2,468$1,594$1,006$624$305
37 years$3,576$2,344$1,492$927$565$270
38 years$3,444$2,228$1,397$854$513$239
39 years$3,318$2,118$1,309$788$465$211
40 years$3,199$2,015$1,227$726$422$187
41 years$3,086$1,918$1,150$670$382$165
42 years$2,979$1,827$1,079$619$347$146
43 years$2,877$1,741$1,012$571$315$130
44 years$2,780$1,659$950$527$286$115
45 years$2,688$1,582$892$487$260$102
46 years$2,600$1,510$838$450$236$90
47 years$2,516$1,441$787$416$214$80
48 years$2,435$1,375$740$384$194$70
49 years$2,358$1,313$695$355$177$62
50 years$2,285$1,254$654$328$160$55

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,340,000, adding $5,686 every year, while hoping to spend $55,539 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: 66/16/18 Blend
53$2,340,000$2,340,000$2,340,000$2,340,000
54$2,584,545$2,460,525$2,424,255$2,743,274
55$2,789,076$2,521,998$2,446,375$2,911,739
56$3,012,607$2,584,621$2,467,374$3,088,886
57$3,257,018$2,648,393$2,487,156$3,281,191
58$3,524,379$2,713,309$2,505,621$3,490,139
59$3,816,968$2,779,363$2,522,661$3,717,367
60$4,137,293$2,846,547$2,538,165$3,964,678
61$4,488,118$2,914,849$2,552,014$4,234,056
62$4,872,485$2,984,255$2,564,086$4,527,691
63$5,293,744$3,054,750$2,574,249$4,847,991
64$5,755,587$3,126,313$2,582,366$5,197,614
65$6,262,076$3,198,922$2,588,295$5,579,483
66$6,817,689$3,272,550$2,591,885$5,996,823
67$7,427,357$3,347,169$2,592,976$6,453,186
68$8,096,510$3,422,742$2,591,403$6,952,485
69$8,831,130$3,499,233$2,586,992$7,499,034
70$9,637,809$3,576,599$2,579,559$8,097,583
71$10,523,804$3,654,791$2,568,914$8,753,369
72$11,497,114$3,733,758$2,554,854$9,472,163
73$12,566,548$3,813,440$2,537,170$10,260,324
74$13,741,811$3,893,773$2,515,640$11,124,858
75$15,033,595$3,974,688$2,490,033$12,073,488
76$16,453,679$4,056,106$2,460,107$13,114,723
77$18,015,042$4,137,943$2,425,609$14,257,941
78$19,731,982$4,220,107$2,386,272$15,513,477
79$21,620,250$4,302,499$2,341,818$16,892,720
80$23,697,204$4,385,009$2,291,957$18,408,221
81$25,981,965$4,467,521$2,236,384$20,073,812
82$28,495,602$4,549,906$2,174,780$21,904,736
83$31,261,330$4,632,028$2,106,811$23,917,794
84$34,304,727$4,713,738$2,032,130$26,131,498
85$37,653,974$4,794,876$1,950,371$28,566,253
86$41,340,124$4,875,270$1,861,154$31,244,543
87$45,397,393$4,954,735$1,764,079$34,191,150
88$49,863,482$5,033,072$1,658,731$37,433,384
89$54,779,932$5,110,067$1,544,673$41,001,341
90$60,192,517$5,185,492$1,421,451$44,928,193
91$66,151,674$5,259,101$1,288,590$49,250,492
92$72,712,980$5,330,632$1,145,592$54,008,527
93$79,937,674$5,399,804$991,940$59,246,694
94$87,893,239$5,466,316$827,092$65,013,923
95$96,654,032$5,529,848$650,482$71,364,138
96$106,301,989$5,590,057$461,520$78,356,766
97$116,927,400$5,646,577$259,588$86,057,299
98$128,629,754$5,699,019$44,044$94,537,916
99$141,518,685$5,746,967$0$103,878,159
100$155,715,002$5,789,979$0$114,201,411