Can I retire at age 54 with 2,440,000?

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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$201,493$199,698$197,947$196,238$194,569$186,923
2 years$99,749$97,891$96,091$94,345$92,652$85,042
3 years$65,839$63,973$62,177$60,448$58,782$51,449
4 years$48,887$47,027$45,249$43,549$41,924$34,922
5 years$38,719$36,870$35,115$33,450$31,870$25,218
6 years$31,942$30,107$28,378$26,750$25,218$18,919
7 years$27,103$25,284$23,582$21,993$20,509$14,562
8 years$23,476$21,673$20,000$18,449$17,014$11,413
9 years$20,656$18,870$17,226$15,715$14,328$9,065
10 years$18,402$16,633$15,018$13,546$12,208$7,272
11 years$16,558$14,807$13,221$11,789$10,500$5,879
12 years$15,023$13,290$11,734$10,341$9,099$4,782
13 years$13,725$12,011$10,483$9,129$7,934$3,908
14 years$12,614$10,917$9,419$8,104$6,955$3,206
15 years$11,651$9,973$8,504$7,227$6,124$2,639
16 years$10,810$9,150$7,710$6,471$5,412$2,177
17 years$10,069$8,427$7,016$5,814$4,799$1,800
18 years$9,410$7,787$6,405$5,240$4,267$1,490
19 years$8,822$7,217$5,863$4,735$3,803$1,236
20 years$8,293$6,706$5,381$4,288$3,397$1,026
21 years$7,815$6,247$4,950$3,892$3,040$852
22 years$7,381$5,831$4,562$3,539$2,725$709
23 years$6,985$5,454$4,212$3,223$2,446$590
24 years$6,623$5,110$3,895$2,939$2,199$491
25 years$6,291$4,795$3,608$2,684$1,978$409
26 years$5,984$4,507$3,346$2,454$1,782$341
27 years$5,701$4,241$3,107$2,247$1,607$284
28 years$5,438$3,997$2,889$2,058$1,450$237
29 years$5,194$3,770$2,688$1,888$1,309$197
30 years$4,967$3,561$2,504$1,732$1,183$165
31 years$4,754$3,366$2,334$1,591$1,069$137
32 years$4,556$3,185$2,178$1,462$967$115
33 years$4,370$3,016$2,033$1,345$875$96
34 years$4,195$2,859$1,900$1,237$793$80
35 years$4,030$2,711$1,776$1,139$718$67
36 years$3,875$2,573$1,662$1,049$650$56
37 years$3,729$2,444$1,555$966$590$46
38 years$3,591$2,323$1,457$891$534$39
39 years$3,460$2,209$1,365$821$485$32
40 years$3,336$2,102$1,279$758$440$27
41 years$3,218$2,000$1,199$699$399$22
42 years$3,106$1,905$1,125$645$362$19
43 years$3,000$1,815$1,056$595$328$16
44 years$2,899$1,730$991$550$298$13
45 years$2,803$1,650$930$508$271$11
46 years$2,711$1,574$874$469$246$9
47 years$2,623$1,502$821$433$223$8
48 years$2,539$1,434$772$400$203$6
49 years$2,459$1,369$725$370$184$5
50 years$2,382$1,308$682$342$167$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,440,000, adding $5,781 every year, while hoping to spend $45,691 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: 48/22/30 Blend
53$2,440,000$2,440,000$2,440,000$2,440,000
54$2,694,843$2,565,523$2,527,703$2,800,834
55$2,921,102$2,642,619$2,563,766$2,953,298
56$3,168,908$2,721,961$2,599,506$3,113,877
57$3,440,411$2,803,611$2,634,864$3,287,407
58$3,737,978$2,887,633$2,669,777$3,475,137
59$4,064,216$2,974,091$2,704,178$3,678,440
60$4,421,996$3,063,052$2,737,999$3,898,829
61$4,814,482$3,154,584$2,771,164$4,137,969
62$5,245,157$3,248,756$2,803,595$4,397,696
63$5,717,858$3,345,640$2,835,211$4,680,030
64$6,236,812$3,445,309$2,865,923$4,987,197
65$6,806,675$3,547,837$2,895,639$5,321,648
66$7,432,575$3,653,301$2,924,263$5,686,084
67$8,120,164$3,761,778$2,951,691$6,083,479
68$8,875,664$3,873,349$2,977,817$6,517,113
69$9,705,934$3,988,095$3,002,526$6,990,594
70$10,618,528$4,106,100$3,025,699$7,507,903
71$11,621,767$4,227,449$3,047,209$8,073,421
72$12,724,822$4,352,228$3,066,925$8,691,977
73$13,937,793$4,480,527$3,084,707$9,368,894
74$15,271,812$4,612,437$3,100,408$10,110,033
75$16,739,140$4,748,049$3,113,875$10,921,856
76$18,353,288$4,887,459$3,124,945$11,811,480
77$20,129,141$5,030,763$3,133,449$12,786,748
78$22,083,102$5,178,059$3,139,209$13,856,306
79$24,233,242$5,329,447$3,142,036$15,029,676
80$26,599,473$5,485,030$3,141,734$16,317,354
81$29,203,734$5,644,911$3,138,096$17,730,905
82$32,070,199$5,809,197$3,130,908$19,283,075
83$35,225,506$5,977,994$3,119,940$20,987,908
84$38,699,006$6,151,413$3,104,955$22,860,881
85$42,523,037$6,329,566$3,085,705$24,919,049
86$46,733,238$6,512,565$3,061,926$27,181,207
87$51,368,873$6,700,526$3,033,346$29,668,068
88$56,473,212$6,893,565$2,999,676$32,402,458
89$62,093,931$7,091,802$2,960,618$35,409,531
90$68,283,569$7,295,357$2,915,855$38,717,006
91$75,100,015$7,504,351$2,865,058$42,355,432
92$82,607,062$7,718,910$2,807,883$46,358,474
93$90,875,003$7,939,157$2,743,968$50,763,233
94$99,981,298$8,165,220$2,672,935$55,610,593
95$110,011,301$8,397,228$2,594,390$60,945,612
96$121,059,071$8,635,308$2,507,918$66,817,943
97$133,228,251$8,879,593$2,413,088$73,282,308
98$146,633,054$9,130,215$2,309,448$80,399,010
99$161,399,335$9,387,305$2,196,525$88,234,508
100$177,665,784$9,651,000$2,073,825$96,862,039