Can I retire at age 54 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$199,841$198,061$196,325$194,629$192,974$190,090
2 years$98,931$97,089$95,303$93,572$91,892$88,994
3 years$65,299$63,449$61,667$59,952$58,300$55,477
4 years$48,486$46,641$44,878$43,192$41,580$38,853
5 years$38,401$36,567$34,827$33,176$31,609$28,987
6 years$31,680$29,860$28,146$26,531$25,011$22,497
7 years$26,881$25,076$23,389$21,813$20,341$17,935
8 years$23,283$21,495$19,836$18,298$16,874$14,577
9 years$20,487$18,715$17,085$15,586$14,211$12,020
10 years$18,251$16,497$14,895$13,435$12,108$10,023
11 years$16,423$14,686$13,113$11,693$10,413$8,432
12 years$14,900$13,181$11,638$10,256$9,024$7,144
13 years$13,613$11,912$10,397$9,055$7,869$6,087
14 years$12,510$10,828$9,342$8,038$6,898$5,211
15 years$11,556$9,891$8,435$7,168$6,074$4,479
16 years$10,722$9,075$7,647$6,418$5,368$3,863
17 years$9,986$8,358$6,959$5,767$4,760$3,341
18 years$9,333$7,723$6,352$5,197$4,232$2,896
19 years$8,749$7,158$5,815$4,696$3,772$2,516
20 years$8,225$6,651$5,337$4,253$3,369$2,189
21 years$7,751$6,195$4,909$3,860$3,015$1,908
22 years$7,320$5,783$4,524$3,510$2,703$1,664
23 years$6,928$5,409$4,177$3,196$2,426$1,454
24 years$6,569$5,068$3,863$2,915$2,181$1,271
25 years$6,239$4,756$3,578$2,662$1,962$1,113
26 years$5,935$4,470$3,319$2,434$1,767$974
27 years$5,654$4,207$3,082$2,228$1,594$854
28 years$5,394$3,964$2,865$2,041$1,438$749
29 years$5,152$3,739$2,666$1,872$1,298$657
30 years$4,926$3,531$2,483$1,718$1,173$576
31 years$4,716$3,338$2,315$1,578$1,061$506
32 years$4,519$3,159$2,160$1,450$959$444
33 years$4,334$2,991$2,017$1,334$868$390
34 years$4,160$2,835$1,884$1,227$786$343
35 years$3,997$2,689$1,762$1,129$712$302
36 years$3,844$2,552$1,648$1,040$645$265
37 years$3,698$2,424$1,543$958$585$233
38 years$3,561$2,304$1,445$883$530$205
39 years$3,432$2,191$1,353$815$481$180
40 years$3,309$2,084$1,269$751$436$158
41 years$3,192$1,984$1,190$693$396$139
42 years$3,081$1,890$1,116$640$359$123
43 years$2,976$1,800$1,047$591$326$108
44 years$2,875$1,716$983$545$296$95
45 years$2,780$1,636$923$504$268$84
46 years$2,689$1,561$867$465$244$74
47 years$2,602$1,490$814$430$221$65
48 years$2,518$1,422$765$397$201$57
49 years$2,439$1,358$719$367$183$50
50 years$2,363$1,297$676$339$166$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,420,000, adding $4,979 every year, while hoping to spend $54,371 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: 77/12/11 Blend
53$2,420,000$2,420,000$2,420,000$2,420,000
54$2,671,976$2,543,716$2,506,206$2,871,947
55$2,886,667$2,610,508$2,532,313$3,071,046
56$3,121,434$2,678,750$2,557,473$3,281,867
57$3,378,269$2,748,456$2,581,596$3,511,483
58$3,659,361$2,819,639$2,604,589$3,761,747
59$3,967,124$2,892,311$2,626,351$4,034,695
60$4,304,217$2,966,480$2,646,780$4,332,572
61$4,673,565$3,042,155$2,665,765$4,657,850
62$5,078,391$3,119,344$2,683,191$5,013,253
63$5,522,246$3,198,050$2,698,937$5,401,778
64$6,009,039$3,278,278$2,712,874$5,826,730
65$6,543,075$3,360,028$2,724,870$6,291,748
66$7,129,098$3,443,299$2,734,783$6,800,840
67$7,772,332$3,528,087$2,742,464$7,358,422
68$8,478,532$3,614,385$2,747,759$7,969,360
69$9,254,038$3,702,185$2,750,504$8,639,012
70$10,105,832$3,791,475$2,750,528$9,373,283
71$11,041,607$3,882,237$2,747,651$10,178,680
72$12,069,838$3,974,454$2,741,684$11,062,369
73$13,199,861$4,068,102$2,732,431$12,032,247
74$14,441,962$4,163,154$2,719,682$13,097,016
75$15,807,473$4,259,579$2,703,222$14,266,262
76$17,308,877$4,357,340$2,682,821$15,550,549
77$18,959,929$4,456,396$2,658,243$16,961,515
78$20,775,783$4,556,701$2,629,235$18,511,986
79$22,773,135$4,658,202$2,595,537$20,216,093
80$24,970,381$4,760,840$2,556,874$22,089,407
81$27,387,790$4,864,551$2,512,958$24,149,086
82$30,047,692$4,969,262$2,463,491$26,414,037
83$32,974,695$5,074,894$2,408,156$28,905,093
84$36,195,909$5,181,359$2,346,624$31,645,211
85$39,741,208$5,288,562$2,278,552$34,659,690
86$43,643,507$5,396,397$2,203,579$37,976,404
87$47,939,074$5,504,749$2,121,328$41,626,073
88$52,667,873$5,613,495$2,031,406$45,642,547
89$57,873,938$5,722,498$1,933,400$50,063,128
90$63,605,790$5,831,612$1,826,880$54,928,921
91$69,916,897$5,940,677$1,711,397$60,285,223
92$76,866,170$6,049,520$1,586,478$66,181,950
93$84,518,529$6,157,956$1,451,635$72,674,108
94$92,945,506$6,265,783$1,306,352$79,822,314
95$102,225,927$6,372,786$1,150,094$87,693,366
96$112,446,650$6,478,731$982,301$96,360,874
97$123,703,388$6,583,368$802,387$105,905,957
98$136,101,609$6,686,429$609,743$116,418,007
99$149,757,534$6,787,624$403,730$127,995,532
100$164,799,230$6,886,645$183,682$140,747,090