Can I retire at age 54 with 2,840,000?

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 $2,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$234,525$232,436$230,397$228,408$226,466$224,756
2 years$116,101$113,939$111,843$109,812$107,841$106,117
3 years$76,632$74,460$72,370$70,357$68,419$66,734
4 years$56,901$54,736$52,667$50,689$48,797$47,165
5 years$45,066$42,914$40,872$38,934$37,094$35,520
6 years$37,178$35,042$33,030$31,136$29,352$27,836
7 years$31,546$29,429$27,448$25,598$23,871$22,415
8 years$27,324$25,226$23,278$21,474$19,803$18,407
9 years$24,042$21,964$20,050$18,291$16,677$15,341
10 years$21,418$19,360$17,480$15,767$14,210$12,932
11 years$19,273$17,235$15,389$13,722$12,221$11,001
12 years$17,486$15,469$13,657$12,036$10,590$9,427
13 years$15,975$13,980$12,202$10,626$9,235$8,127
14 years$14,682$12,707$10,963$9,433$8,095$7,042
15 years$13,561$11,608$9,899$8,412$7,128$6,127
16 years$12,582$10,650$8,974$7,532$6,300$5,350
17 years$11,719$9,808$8,166$6,768$5,586$4,685
18 years$10,953$9,063$7,455$6,099$4,966$4,114
19 years$10,268$8,400$6,825$5,511$4,427$3,621
20 years$9,652$7,806$6,263$4,991$3,954$3,192
21 years$9,096$7,271$5,761$4,530$3,538$2,820
22 years$8,591$6,787$5,310$4,119$3,172$2,494
23 years$8,131$6,348$4,903$3,751$2,847$2,209
24 years$7,709$5,947$4,534$3,421$2,559$1,959
25 years$7,322$5,581$4,199$3,124$2,303$1,738
26 years$6,965$5,245$3,895$2,857$2,074$1,544
27 years$6,635$4,937$3,617$2,615$1,870$1,373
28 years$6,330$4,652$3,362$2,396$1,687$1,221
29 years$6,046$4,388$3,129$2,197$1,524$1,087
30 years$5,781$4,144$2,914$2,016$1,377$968
31 years$5,534$3,918$2,717$1,852$1,245$863
32 years$5,303$3,707$2,535$1,702$1,126$769
33 years$5,086$3,511$2,367$1,565$1,019$686
34 years$4,882$3,327$2,211$1,440$923$612
35 years$4,691$3,156$2,068$1,326$836$546
36 years$4,511$2,995$1,934$1,221$757$487
37 years$4,340$2,845$1,810$1,125$686$435
38 years$4,179$2,704$1,695$1,037$622$388
39 years$4,027$2,571$1,588$956$564$347
40 years$3,883$2,446$1,489$882$512$310
41 years$3,746$2,328$1,396$813$464$277
42 years$3,616$2,217$1,309$751$421$247
43 years$3,492$2,113$1,229$693$382$221
44 years$3,374$2,014$1,153$640$347$197
45 years$3,262$1,920$1,083$591$315$176
46 years$3,155$1,832$1,017$546$286$158
47 years$3,053$1,748$956$504$260$141
48 years$2,955$1,669$898$466$236$126
49 years$2,862$1,594$844$431$214$113
50 years$2,773$1,522$794$398$195$101

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,840,000, adding $2,539 every year, while hoping to spend $48,117 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: 39/33/28 Blend
53$2,840,000$2,840,000$2,840,000$2,840,000
54$3,132,299$2,981,779$2,937,759$3,228,359
55$3,400,597$3,076,690$2,984,978$3,393,704
56$3,694,649$3,174,639$3,032,166$3,567,749
57$4,017,031$3,275,724$3,079,271$3,755,035
58$4,370,581$3,380,046$3,126,238$3,956,800
59$4,758,422$3,487,711$3,173,009$4,174,407
60$5,183,997$3,598,825$3,219,521$4,409,354
61$5,651,098$3,713,500$3,265,708$4,663,291
62$6,163,900$3,831,852$3,311,500$4,938,031
63$6,727,005$3,954,000$3,356,822$5,235,572
64$7,345,479$4,080,066$3,401,596$5,558,112
65$8,024,906$4,210,177$3,445,738$5,908,070
66$8,771,436$4,344,465$3,489,159$6,288,108
67$9,591,843$4,483,064$3,531,766$6,701,160
68$10,493,592$4,626,116$3,573,461$7,150,452
69$11,484,906$4,773,763$3,614,140$7,639,539
70$12,574,844$4,926,155$3,653,691$8,172,335
71$13,773,388$5,083,446$3,692,000$8,753,148
72$15,091,535$5,245,796$3,728,943$9,386,725
73$16,541,400$5,413,369$3,764,391$10,078,294
74$18,136,333$5,586,335$3,798,209$10,833,610
75$19,891,043$5,764,868$3,830,252$11,659,014
76$21,821,734$5,949,152$3,860,370$12,561,492
77$23,946,262$6,139,372$3,888,404$13,548,734
78$26,284,302$6,335,722$3,914,187$14,629,217
79$28,857,530$6,538,402$3,937,542$15,812,274
80$31,689,834$6,747,619$3,958,285$17,108,191
81$34,807,530$6,963,585$3,976,221$18,528,294
82$38,239,619$7,186,522$3,991,145$20,085,067
83$42,018,056$7,416,658$4,002,844$21,792,258
84$46,178,050$7,654,226$4,011,092$23,665,017
85$50,758,400$7,899,472$4,015,652$25,720,035
86$55,801,856$8,152,645$4,016,275$27,975,700
87$61,355,526$8,414,006$4,012,702$30,452,273
88$67,471,321$8,683,823$4,004,658$33,172,078
89$74,206,438$8,962,373$3,991,857$36,159,712
90$81,623,908$9,249,943$3,973,998$39,442,275
91$89,793,186$9,546,829$3,950,765$43,049,628
92$98,790,804$9,853,336$3,921,829$47,014,677
93$108,701,099$10,169,783$3,886,843$51,373,675
94$119,617,003$10,496,494$3,845,445$56,166,573
95$131,640,924$10,833,809$3,797,254$61,437,389
96$144,885,709$11,182,076$3,741,872$67,234,631
97$159,475,710$11,541,657$3,678,884$73,611,746
98$175,547,959$11,912,924$3,607,853$80,627,631
99$193,253,457$12,296,264$3,528,323$88,347,186
100$212,758,604$12,692,076$3,439,816$96,841,927