Can I retire at age 54 with 2,470,000?

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 $2,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$203,970$202,153$200,381$198,651$196,961$189,371
2 years$100,975$99,095$97,272$95,505$93,791$86,235
3 years$66,648$64,760$62,942$61,191$59,505$52,220
4 years$49,488$47,605$45,805$44,085$42,439$35,481
5 years$39,195$37,323$35,547$33,861$32,262$25,649
6 years$32,335$30,477$28,727$27,079$25,528$19,264
7 years$27,436$25,595$23,872$22,263$20,761$14,844
8 years$23,765$21,939$20,246$18,676$17,223$11,648
9 years$20,910$19,102$17,438$15,908$14,504$9,263
10 years$18,628$16,838$15,202$13,713$12,358$7,441
11 years$16,762$14,989$13,384$11,934$10,629$6,023
12 years$15,208$13,454$11,878$10,468$9,211$4,906
13 years$13,894$12,158$10,612$9,242$8,032$4,015
14 years$12,769$11,052$9,535$8,204$7,041$3,298
15 years$11,795$10,096$8,609$7,316$6,199$2,718
16 years$10,943$9,263$7,805$6,551$5,479$2,246
17 years$10,192$8,531$7,102$5,886$4,858$1,859
18 years$9,526$7,883$6,484$5,304$4,319$1,542
19 years$8,930$7,306$5,935$4,793$3,850$1,281
20 years$8,395$6,789$5,447$4,341$3,439$1,065
21 years$7,911$6,323$5,010$3,940$3,077$886
22 years$7,472$5,903$4,618$3,582$2,758$738
23 years$7,071$5,521$4,264$3,262$2,476$615
24 years$6,705$5,172$3,943$2,975$2,226$513
25 years$6,368$4,854$3,652$2,717$2,003$428
26 years$6,058$4,562$3,387$2,485$1,804$357
27 years$5,771$4,293$3,145$2,274$1,626$298
28 years$5,505$4,046$2,924$2,084$1,468$249
29 years$5,258$3,817$2,721$1,911$1,325$208
30 years$5,028$3,604$2,535$1,754$1,197$174
31 years$4,813$3,407$2,363$1,611$1,083$145
32 years$4,612$3,224$2,205$1,480$979$121
33 years$4,423$3,053$2,058$1,361$886$101
34 years$4,246$2,894$1,923$1,252$802$85
35 years$4,080$2,745$1,798$1,153$727$71
36 years$3,923$2,605$1,682$1,062$658$59
37 years$3,775$2,474$1,574$978$597$49
38 years$3,635$2,351$1,474$902$541$41
39 years$3,502$2,236$1,381$831$491$35
40 years$3,377$2,127$1,295$767$445$29
41 years$3,258$2,025$1,214$707$404$24
42 years$3,145$1,929$1,139$653$366$20
43 years$3,037$1,838$1,069$603$332$17
44 years$2,935$1,752$1,003$557$302$14
45 years$2,837$1,670$942$514$274$12
46 years$2,744$1,593$885$475$249$10
47 years$2,655$1,521$831$439$226$8
48 years$2,570$1,452$781$405$205$7
49 years$2,489$1,386$734$375$186$6
50 years$2,412$1,324$690$346$169$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,470,000, adding $5,341 every year, while hoping to spend $42,205 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: 45/43/12 Blend
53$2,470,000$2,470,000$2,470,000$2,470,000
54$2,727,449$2,596,539$2,558,254$2,840,647
55$2,960,743$2,678,864$2,599,050$3,002,110
56$3,216,419$2,763,808$2,639,798$3,172,369
57$3,496,714$2,851,455$2,680,452$3,356,048
58$3,804,094$2,941,892$2,720,962$3,554,402
59$4,141,275$3,035,208$2,761,278$3,768,812
60$4,511,247$3,131,495$2,801,342$4,000,796
61$4,917,304$3,230,848$2,841,097$4,252,022
62$5,363,075$3,333,365$2,880,480$4,524,328
63$5,852,557$3,439,149$2,919,424$4,819,733
64$6,390,154$3,548,303$2,957,861$5,140,458
65$6,980,715$3,660,935$2,995,715$5,488,950
66$7,629,585$3,777,158$3,032,908$5,867,899
67$8,342,650$3,897,086$3,069,358$6,280,265
68$9,126,395$4,020,838$3,104,976$6,729,309
69$9,987,965$4,148,537$3,139,671$7,218,616
70$10,935,232$4,280,309$3,173,344$7,752,135
71$11,976,867$4,416,286$3,205,893$8,334,214
72$13,122,426$4,556,603$3,237,209$8,969,638
73$14,382,436$4,701,398$3,267,177$9,663,676
74$15,768,494$4,850,817$3,295,677$10,422,131
75$17,293,380$5,005,007$3,322,582$11,251,390
76$18,971,175$5,164,122$3,347,759$12,158,489
77$20,817,391$5,328,320$3,371,065$13,151,176
78$22,849,123$5,497,766$3,392,354$14,237,983
79$25,085,205$5,672,628$3,411,469$15,428,306
80$27,546,389$5,853,080$3,428,247$16,732,496
81$30,255,543$6,039,303$3,442,515$18,161,953
82$33,237,862$6,231,483$3,454,093$19,729,232
83$36,521,110$6,429,811$3,462,791$21,448,166
84$40,135,878$6,634,487$3,468,410$23,333,989
85$44,115,876$6,845,715$3,470,739$25,403,484
86$48,498,246$7,063,706$3,469,560$27,675,139
87$53,323,919$7,288,679$3,464,642$30,169,321
88$58,637,994$7,520,860$3,455,743$32,908,468
89$64,490,169$7,760,481$3,442,609$35,917,298
90$70,935,204$8,007,783$3,424,975$39,223,043
91$78,033,446$8,263,015$3,402,562$42,855,706
92$85,851,387$8,526,433$3,375,078$46,848,341
93$94,462,303$8,798,302$3,342,217$51,237,367
94$103,946,935$9,078,896$3,303,659$56,062,908
95$114,394,258$9,368,497$3,259,067$61,369,172
96$125,902,317$9,667,398$3,208,091$67,204,869
97$138,579,153$9,975,901$3,150,362$73,623,667
98$152,543,823$10,294,316$3,085,495$80,684,699
99$167,927,521$10,622,966$3,013,087$88,453,120
100$184,874,820$10,962,183$2,932,717$97,000,722