Can I retire at age 54 with 2,740,000?

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 $2,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$226,267$224,251$222,285$220,366$218,491$212,692
2 years$112,013$109,927$107,905$105,945$104,044$98,241
3 years$73,934$71,839$69,822$67,880$66,010$60,386
4 years$54,898$52,809$50,812$48,904$47,079$41,677
5 years$43,479$41,403$39,433$37,563$35,788$30,623
6 years$35,869$33,809$31,867$30,039$28,318$23,395
7 years$30,436$28,392$26,482$24,697$23,030$18,349
8 years$26,362$24,337$22,459$20,718$19,106$14,664
9 years$23,196$21,190$19,344$17,647$16,090$11,884
10 years$20,664$18,678$16,864$15,212$13,709$9,734
11 years$18,594$16,628$14,847$13,239$11,790$8,040
12 years$16,870$14,924$13,176$11,612$10,217$6,684
13 years$15,413$13,487$11,772$10,252$8,910$5,587
14 years$14,165$12,260$10,577$9,100$7,810$4,690
15 years$13,084$11,199$9,550$8,116$6,877$3,951
16 years$12,139$10,275$8,658$7,267$6,078$3,338
17 years$11,307$9,463$7,879$6,529$5,389$2,827
18 years$10,567$8,744$7,192$5,884$4,792$2,399
19 years$9,906$8,104$6,584$5,317$4,271$2,040
20 years$9,312$7,531$6,043$4,815$3,815$1,737
21 years$8,776$7,015$5,558$4,370$3,414$1,480
22 years$8,288$6,548$5,123$3,974$3,060$1,263
23 years$7,844$6,124$4,730$3,619$2,747$1,079
24 years$7,438$5,738$4,374$3,301$2,469$922
25 years$7,064$5,385$4,052$3,014$2,222$788
26 years$6,720$5,061$3,758$2,756$2,001$675
27 years$6,402$4,763$3,489$2,523$1,804$577
28 years$6,107$4,488$3,244$2,311$1,628$495
29 years$5,833$4,234$3,019$2,120$1,470$424
30 years$5,577$3,998$2,812$1,945$1,328$363
31 years$5,339$3,780$2,621$1,787$1,201$311
32 years$5,116$3,576$2,446$1,642$1,086$267
33 years$4,907$3,387$2,284$1,510$983$229
34 years$4,711$3,210$2,134$1,389$890$196
35 years$4,526$3,045$1,995$1,279$806$168
36 years$4,352$2,890$1,866$1,178$730$144
37 years$4,187$2,745$1,747$1,085$662$124
38 years$4,032$2,608$1,636$1,000$600$106
39 years$3,885$2,480$1,532$922$544$91
40 years$3,746$2,360$1,436$851$494$78
41 years$3,614$2,246$1,347$785$448$67
42 years$3,488$2,139$1,263$724$406$58
43 years$3,369$2,038$1,185$669$369$49
44 years$3,256$1,943$1,113$617$335$42
45 years$3,147$1,853$1,045$570$304$36
46 years$3,044$1,768$981$527$276$31
47 years$2,946$1,687$922$487$251$27
48 years$2,851$1,610$866$450$228$23
49 years$2,761$1,538$814$416$207$20
50 years$2,675$1,469$766$384$188$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,740,000, adding $6,305 every year, while hoping to spend $22,843 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: 68/6/26 Blend
53$2,740,000$2,740,000$2,740,000$2,740,000
54$3,025,984$2,880,764$2,838,294$3,211,017
55$3,310,329$2,997,616$2,909,072$3,452,964
56$3,622,912$3,119,429$2,981,455$3,714,380
57$3,966,589$3,246,421$3,055,474$3,999,864
58$4,344,507$3,378,821$3,131,158$4,311,797
59$4,760,132$3,516,868$3,208,536$4,652,799
60$5,217,283$3,660,813$3,287,641$5,025,756
61$5,720,170$3,810,917$3,368,501$5,433,848
62$6,273,430$3,967,454$3,451,148$5,880,573
63$6,882,171$4,130,711$3,535,612$6,369,788
64$7,552,022$4,300,985$3,621,925$6,905,737
65$8,289,186$4,478,591$3,710,117$7,493,097
66$9,100,496$4,663,855$3,800,220$8,137,017
67$9,993,484$4,857,121$3,892,264$8,843,171
68$10,976,445$5,058,746$3,986,280$9,617,806
69$12,058,522$5,269,105$4,082,301$10,467,806
70$13,249,790$5,488,589$4,180,356$11,400,753
71$14,561,348$5,717,609$4,280,478$12,424,999
72$16,005,427$5,956,594$4,382,695$13,549,745
73$17,595,505$6,205,991$4,487,040$14,785,126
74$19,346,433$6,466,272$4,593,543$16,142,311
75$21,274,576$6,737,925$4,702,233$17,633,599
76$23,397,966$7,021,467$4,813,140$19,272,546
77$25,736,472$7,317,433$4,926,295$21,074,082
78$28,311,992$7,626,387$5,041,726$23,054,660
79$31,148,653$7,948,917$5,159,461$25,232,403
80$34,273,041$8,285,640$5,279,528$27,627,282
81$37,714,455$8,637,200$5,401,956$30,261,299
82$41,505,178$9,004,271$5,526,770$33,158,696
83$45,680,786$9,387,560$5,653,997$36,346,184
84$50,280,481$9,787,806$5,783,661$39,853,193
85$55,347,464$10,205,782$5,915,787$43,712,151
86$60,929,337$10,642,297$6,050,398$47,958,786
87$67,078,559$11,098,199$6,187,516$52,632,469
88$73,852,936$11,574,375$6,327,162$57,776,578
89$81,316,170$12,071,753$6,469,355$63,438,913
90$89,538,455$12,591,305$6,614,115$69,672,142
91$98,597,147$13,134,049$6,761,457$76,534,299
92$108,577,486$13,701,048$6,911,397$84,089,333
93$119,573,409$14,293,418$7,063,948$92,407,709
94$131,688,428$14,912,327$7,219,121$101,567,072
95$145,036,612$15,558,996$7,376,926$111,652,981
96$159,743,665$16,234,704$7,537,371$122,759,714
97$175,948,106$16,940,792$7,700,460$134,991,160
98$193,802,583$17,678,662$7,866,197$148,461,796
99$213,475,312$18,449,782$8,034,580$163,297,768
100$235,151,663$19,255,690$8,205,607$179,638,082