Can I retire at age 54 with 2,640,000?

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 $2,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$218,009$216,067$214,172$212,323$210,517$206,436
2 years$107,925$105,915$103,967$102,078$100,246$96,151
3 years$71,235$69,217$67,274$65,403$63,600$59,619
4 years$52,894$50,882$48,958$47,119$45,360$41,523
5 years$41,892$39,892$37,993$36,192$34,482$30,800
6 years$34,560$32,575$30,704$28,943$27,285$23,762
7 years$29,325$27,356$25,515$23,796$22,190$18,827
8 years$25,400$23,449$21,639$19,961$18,408$15,205
9 years$22,349$20,417$18,638$17,003$15,503$12,457
10 years$19,910$17,996$16,249$14,657$13,209$10,317
11 years$17,916$16,021$14,305$12,756$11,360$8,620
12 years$16,255$14,380$12,695$11,188$9,844$7,251
13 years$14,850$12,995$11,343$9,878$8,585$6,134
14 years$13,648$11,812$10,191$8,768$7,525$5,213
15 years$12,606$10,791$9,201$7,820$6,626$4,447
16 years$11,696$9,900$8,342$7,002$5,856$3,805
17 years$10,894$9,118$7,591$6,291$5,192$3,265
18 years$10,181$8,425$6,930$5,669$4,617$2,808
19 years$9,545$7,808$6,344$5,123$4,115$2,419
20 years$8,973$7,256$5,822$4,640$3,676$2,088
21 years$8,455$6,759$5,355$4,211$3,289$1,804
22 years$7,986$6,309$4,936$3,829$2,948$1,561
23 years$7,558$5,901$4,557$3,487$2,647$1,352
24 years$7,166$5,528$4,215$3,180$2,379$1,172
25 years$6,806$5,188$3,904$2,904$2,141$1,017
26 years$6,475$4,876$3,620$2,656$1,928$883
27 years$6,168$4,589$3,362$2,431$1,738$767
28 years$5,884$4,324$3,125$2,227$1,569$666
29 years$5,620$4,079$2,908$2,042$1,416$579
30 years$5,374$3,852$2,709$1,874$1,280$504
31 years$5,144$3,642$2,526$1,721$1,157$438
32 years$4,929$3,446$2,356$1,582$1,047$382
33 years$4,728$3,263$2,200$1,455$947$332
34 years$4,539$3,093$2,056$1,339$858$289
35 years$4,361$2,934$1,922$1,232$777$252
36 years$4,193$2,784$1,798$1,135$704$219
37 years$4,035$2,645$1,683$1,046$638$191
38 years$3,885$2,513$1,576$964$578$166
39 years$3,743$2,390$1,476$889$524$145
40 years$3,609$2,274$1,384$820$476$126
41 years$3,482$2,164$1,298$756$432$110
42 years$3,361$2,061$1,217$698$392$96
43 years$3,246$1,964$1,142$644$355$84
44 years$3,137$1,872$1,072$595$323$73
45 years$3,032$1,785$1,007$549$293$63
46 years$2,933$1,703$946$507$266$55
47 years$2,838$1,625$888$469$241$48
48 years$2,747$1,551$835$433$219$42
49 years$2,661$1,482$785$400$199$37
50 years$2,578$1,415$738$370$181$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,640,000, adding $3,318 every year, while hoping to spend $32,298 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: 66/14/20 Blend
53$2,640,000$2,640,000$2,640,000$2,640,000
54$2,912,703$2,772,783$2,731,863$3,090,077
55$3,175,433$2,874,284$2,789,015$3,310,942
56$3,463,880$2,979,677$2,847,000$3,548,287
57$3,780,632$3,089,117$2,905,810$3,806,985
58$4,128,541$3,202,768$2,965,439$4,089,136
59$4,510,748$3,320,800$3,025,878$4,397,046
60$4,930,716$3,443,390$3,087,116$4,733,257
61$5,392,255$3,570,723$3,149,141$5,100,567
62$5,899,568$3,702,991$3,211,940$5,502,057
63$6,457,282$3,840,395$3,275,498$5,941,118
64$7,070,495$3,983,145$3,339,797$6,421,488
65$7,744,826$4,131,459$3,404,820$6,947,279
66$8,486,461$4,285,564$3,470,545$7,523,022
67$9,302,221$4,445,698$3,536,949$8,153,707
68$10,199,618$4,612,107$3,604,007$8,844,828
69$11,186,929$4,785,051$3,671,692$9,602,439
70$12,273,275$4,964,797$3,739,973$10,433,207
71$13,468,705$5,151,628$3,808,817$11,344,474
72$14,784,290$5,345,835$3,878,190$12,344,330
73$16,232,231$5,547,724$3,948,053$13,441,685
74$17,825,970$5,757,615$4,018,364$14,646,354
75$19,580,320$5,975,838$4,089,080$15,969,151
76$21,511,600$6,202,741$4,160,152$17,421,986
77$23,637,794$6,438,687$4,231,528$19,017,982
78$25,978,719$6,684,052$4,303,154$20,771,596
79$28,556,208$6,939,231$4,374,970$22,698,754
80$31,394,323$7,204,635$4,446,913$24,817,004
81$34,519,576$7,480,694$4,518,916$27,145,678
82$37,961,179$7,767,855$4,590,906$29,706,074
83$41,751,325$8,066,585$4,662,808$32,521,659
84$45,925,487$8,377,374$4,734,538$35,618,287
85$50,522,752$8,700,731$4,806,010$39,024,447
86$55,586,193$9,037,187$4,877,132$42,771,524
87$61,163,274$9,387,299$4,947,805$46,894,101
88$67,306,297$9,751,646$5,017,926$51,430,282
89$74,072,896$10,130,833$5,087,383$56,422,053
90$81,526,581$10,525,493$5,156,060$61,915,674
91$89,737,336$10,936,286$5,223,832$67,962,117
92$98,782,282$11,363,902$5,290,568$74,617,549
93$108,746,403$11,809,062$5,356,130$81,943,857
94$119,723,346$12,272,516$5,420,371$90,009,233
95$131,816,309$12,755,051$5,483,135$98,888,819
96$145,139,012$13,257,487$5,544,259$108,665,412
97$159,816,769$13,780,682$5,603,570$119,430,246
98$175,987,676$14,325,532$5,660,885$131,283,856
99$193,803,907$14,892,971$5,716,013$144,337,018
100$213,433,156$15,483,977$5,768,751$158,711,803