Can I retire at age 54 with 2,480,000?

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 $2,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$204,796$202,972$201,192$199,455$197,759$193,608
2 years$101,384$99,496$97,666$95,892$94,171$90,008
3 years$66,918$65,022$63,196$61,439$59,746$55,702
4 years$49,688$47,798$45,991$44,263$42,611$38,716
5 years$39,353$37,474$35,691$33,998$32,392$28,658
6 years$32,465$30,600$28,843$27,189$25,631$22,061
7 years$27,548$25,698$23,969$22,353$20,845$17,441
8 years$23,861$22,028$20,328$18,752$17,293$14,053
9 years$20,995$19,179$17,508$15,972$14,563$11,485
10 years$18,703$16,906$15,264$13,768$12,408$9,489
11 years$16,830$15,050$13,438$11,983$10,672$7,908
12 years$15,270$13,508$11,926$10,510$9,248$6,635
13 years$13,950$12,207$10,655$9,279$8,064$5,598
14 years$12,821$11,096$9,574$8,237$7,069$4,744
15 years$11,842$10,137$8,644$7,346$6,224$4,036
16 years$10,987$9,300$7,837$6,577$5,501$3,444
17 years$10,234$8,565$7,131$5,910$4,878$2,947
18 years$9,564$7,915$6,510$5,326$4,337$2,527
19 years$8,966$7,335$5,959$4,812$3,866$2,171
20 years$8,429$6,816$5,469$4,359$3,453$1,868
21 years$7,943$6,349$5,031$3,956$3,090$1,609
22 years$7,502$5,927$4,637$3,597$2,770$1,388
23 years$7,100$5,543$4,281$3,275$2,486$1,198
24 years$6,732$5,193$3,959$2,987$2,235$1,036
25 years$6,394$4,874$3,667$2,728$2,011$896
26 years$6,082$4,581$3,401$2,495$1,811$775
27 years$5,794$4,311$3,158$2,283$1,633$671
28 years$5,527$4,062$2,936$2,092$1,474$581
29 years$5,279$3,832$2,732$1,918$1,331$504
30 years$5,048$3,619$2,545$1,761$1,202$437
31 years$4,832$3,421$2,373$1,617$1,087$379
32 years$4,631$3,237$2,214$1,486$983$328
33 years$4,441$3,066$2,067$1,367$890$285
34 years$4,264$2,905$1,931$1,257$806$247
35 years$4,096$2,756$1,805$1,157$730$215
36 years$3,939$2,616$1,689$1,066$661$186
37 years$3,790$2,484$1,581$982$599$162
38 years$3,650$2,361$1,480$905$543$140
39 years$3,517$2,245$1,387$835$493$122
40 years$3,391$2,136$1,300$770$447$106
41 years$3,271$2,033$1,219$710$405$92
42 years$3,157$1,936$1,143$656$368$80
43 years$3,049$1,845$1,073$605$334$69
44 years$2,947$1,759$1,007$559$303$60
45 years$2,849$1,677$946$516$275$52
46 years$2,755$1,600$888$477$250$45
47 years$2,666$1,527$834$440$227$39
48 years$2,581$1,457$784$407$206$34
49 years$2,499$1,392$737$376$187$30
50 years$2,421$1,330$693$348$170$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,480,000, adding $2,670 every year, while hoping to spend $39,230 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: 72/20/8 Blend
53$2,480,000$2,480,000$2,480,000$2,480,000
54$2,735,714$2,604,274$2,565,834$2,928,908
55$2,973,017$2,690,143$2,610,049$3,142,687
56$3,233,209$2,778,905$2,654,431$3,371,539
57$3,518,585$2,870,660$2,698,942$3,621,015
58$3,831,670$2,965,512$2,743,547$3,893,137
59$4,175,247$3,063,568$2,788,202$4,190,133
60$4,552,380$3,164,941$2,832,865$4,514,454
61$4,966,446$3,269,746$2,877,488$4,868,800
62$5,421,162$3,378,102$2,922,023$5,256,141
63$5,920,626$3,490,135$2,966,416$5,679,751
64$6,469,350$3,605,972$3,010,611$6,143,232
65$7,072,306$3,725,746$3,054,549$6,650,552
66$7,734,970$3,849,597$3,098,166$7,206,081
67$8,463,377$3,977,667$3,141,394$7,814,630
68$9,264,173$4,110,105$3,184,163$8,481,499
69$10,144,683$4,247,064$3,226,397$9,212,526
70$11,112,976$4,388,705$3,268,015$10,014,140
71$12,177,940$4,535,193$3,308,935$10,893,422
72$13,349,371$4,686,698$3,349,066$11,858,171
73$14,638,061$4,843,400$3,388,313$12,916,982
74$16,055,899$5,005,483$3,426,578$14,079,317
75$17,615,987$5,173,137$3,463,754$15,355,604
76$19,332,758$5,346,562$3,499,730$16,757,329
77$21,222,119$5,525,963$3,534,390$18,297,143
78$23,301,592$5,711,553$3,567,610$19,988,988
79$25,590,489$5,903,553$3,599,260$21,848,219
80$28,110,086$6,102,194$3,629,202$23,891,756
81$30,883,826$6,307,713$3,657,292$26,138,239
82$33,937,544$6,520,358$3,683,378$28,608,203
83$37,299,702$6,740,385$3,707,300$31,324,275
84$41,001,668$6,968,060$3,728,891$34,311,383
85$45,078,002$7,203,659$3,747,973$37,596,993
86$49,566,788$7,447,468$3,764,360$41,211,369
87$54,509,992$7,699,785$3,777,857$45,187,852
88$59,953,855$7,960,919$3,788,259$49,563,181
89$65,949,334$8,231,189$3,795,351$54,377,837
90$72,552,577$8,510,928$3,798,906$59,676,422
91$79,825,457$8,800,482$3,798,688$65,508,081
92$87,836,156$9,100,207$3,794,446$71,926,966
93$96,659,804$9,410,478$3,785,920$78,992,747
94$106,379,192$9,731,678$3,772,836$86,771,171
95$117,085,549$10,064,211$3,754,906$95,334,685
96$128,879,410$10,408,491$3,731,829$104,763,118
97$141,871,554$10,764,952$3,703,290$115,144,434
98$156,184,061$11,134,043$3,668,958$126,575,562
99$171,951,453$11,516,229$3,628,487$139,163,307
100$189,321,973$11,911,996$3,581,513$153,025,363