Can I retire at age 54 with 2,400,000?

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$198,190$196,424$194,702$193,021$191,379$189,302
2 years$98,114$96,286$94,516$92,799$91,133$89,041
3 years$64,759$62,924$61,158$59,457$57,819$55,778
4 years$48,086$46,256$44,507$42,835$41,237$39,262
5 years$38,084$36,265$34,539$32,902$31,347$29,445
6 years$31,418$29,613$27,913$26,312$24,804$22,976
7 years$26,659$24,869$23,196$21,632$20,172$18,420
8 years$23,091$21,318$19,672$18,147$16,735$15,057
9 years$20,318$18,561$16,943$15,457$14,093$12,490
10 years$18,100$16,360$14,772$13,324$12,008$10,478
11 years$16,287$14,565$13,005$11,596$10,327$8,870
12 years$14,777$13,072$11,541$10,171$8,950$7,563
13 years$13,500$11,814$10,311$8,980$7,804$6,486
14 years$12,407$10,738$9,265$7,971$6,841$5,590
15 years$11,460$9,810$8,365$7,109$6,023$4,838
16 years$10,633$9,000$7,584$6,365$5,324$4,201
17 years$9,904$8,289$6,901$5,719$4,720$3,659
18 years$9,256$7,659$6,300$5,154$4,197$3,195
19 years$8,677$7,099$5,767$4,657$3,741$2,795
20 years$8,157$6,596$5,293$4,218$3,341$2,450
21 years$7,687$6,144$4,868$3,828$2,990$2,151
22 years$7,260$5,735$4,487$3,481$2,680$1,892
23 years$6,871$5,364$4,143$3,170$2,406$1,665
24 years$6,515$5,026$3,832$2,891$2,163$1,467
25 years$6,188$4,717$3,549$2,640$1,946$1,294
26 years$5,886$4,433$3,291$2,414$1,753$1,142
27 years$5,607$4,172$3,056$2,210$1,580$1,009
28 years$5,349$3,931$2,841$2,025$1,426$892
29 years$5,109$3,708$2,644$1,857$1,288$789
30 years$4,885$3,502$2,463$1,704$1,163$698
31 years$4,677$3,311$2,296$1,565$1,052$618
32 years$4,481$3,133$2,142$1,438$951$547
33 years$4,298$2,967$2,000$1,323$861$485
34 years$4,126$2,812$1,869$1,217$780$430
35 years$3,964$2,667$1,747$1,120$706$381
36 years$3,812$2,531$1,634$1,032$640$337
37 years$3,668$2,404$1,530$951$580$299
38 years$3,532$2,285$1,433$876$526$265
39 years$3,403$2,173$1,342$808$477$235
40 years$3,281$2,067$1,258$745$432$209
41 years$3,165$1,968$1,180$687$392$185
42 years$3,056$1,874$1,107$634$356$164
43 years$2,951$1,785$1,038$586$323$146
44 years$2,852$1,702$975$541$293$129
45 years$2,757$1,623$915$499$266$115
46 years$2,666$1,548$860$461$242$102
47 years$2,580$1,477$808$426$219$91
48 years$2,498$1,410$759$394$199$80
49 years$2,419$1,347$713$364$181$71
50 years$2,343$1,287$671$336$164$63

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,400,000, adding $6,823 every year, while hoping to spend $26,509 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: 51/24/25 Blend
53$2,400,000$2,400,000$2,400,000$2,400,000
54$2,651,838$2,524,638$2,487,438$2,768,173
55$2,894,120$2,620,140$2,542,562$2,945,169
56$3,160,226$2,719,433$2,598,644$3,134,279
57$3,452,559$2,822,675$2,655,688$3,339,373
58$3,773,765$2,930,030$2,713,698$3,561,981
59$4,126,758$3,041,671$2,772,676$3,803,786
60$4,514,751$3,157,776$2,832,624$4,066,638
61$4,941,281$3,278,533$2,893,543$4,352,573
62$5,410,248$3,404,137$2,955,433$4,663,831
63$5,925,945$3,534,792$3,018,291$5,002,878
64$6,493,104$3,670,710$3,082,117$5,372,425
65$7,116,940$3,812,113$3,146,907$5,775,457
66$7,803,195$3,959,234$3,212,656$6,215,261
67$8,558,198$4,112,314$3,279,357$6,695,451
68$9,388,923$4,271,606$3,347,004$7,220,010
69$10,303,052$4,437,373$3,415,587$7,793,318
70$11,309,050$4,609,892$3,485,096$8,420,201
71$12,416,245$4,789,449$3,555,520$9,105,970
72$13,634,916$4,976,345$3,626,843$9,856,473
73$14,976,385$5,170,893$3,699,050$10,678,151
74$16,453,131$5,373,422$3,772,123$11,578,093
75$18,078,904$5,584,274$3,846,043$12,564,108
76$19,868,854$5,803,804$3,920,787$13,644,796
77$21,839,674$6,032,388$3,996,330$14,829,626
78$24,009,761$6,270,415$4,072,647$16,129,029
79$26,399,383$6,518,291$4,149,707$17,554,491
80$29,030,876$6,776,444$4,227,478$19,118,664
81$31,928,852$7,045,317$4,305,926$20,835,484
82$35,120,432$7,325,374$4,385,011$22,720,300
83$38,635,500$7,617,102$4,464,693$24,790,020
84$42,506,988$7,921,007$4,544,928$27,063,269
85$46,771,184$8,237,619$4,625,666$29,560,561
86$51,468,075$8,567,493$4,706,856$32,304,496
87$56,641,726$8,911,207$4,788,442$35,319,972
88$62,340,691$9,269,365$4,870,365$38,634,415
89$68,618,479$9,642,601$4,952,559$42,278,038
90$75,534,051$10,031,576$5,034,957$46,284,129
91$83,152,380$10,436,979$5,117,484$50,689,360
92$91,545,065$10,859,534$5,200,062$55,534,131
93$100,791,006$11,299,995$5,282,608$60,862,955
94$110,977,145$11,759,151$5,365,032$66,724,870
95$122,199,292$12,237,827$5,447,239$73,173,908
96$134,563,026$12,736,887$5,529,127$80,269,597
97$148,184,692$13,257,233$5,610,591$88,077,525
98$163,192,500$13,799,806$5,691,515$96,669,956
99$179,727,733$14,365,594$5,771,778$106,126,512
100$197,946,081$14,955,629$5,851,253$116,534,920