Can I retire at age 54 with 2,880,000?

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 $2,880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$237,828$235,709$233,642$231,625$229,655$221,683
2 years$117,736$115,544$113,419$111,358$109,360$101,410
3 years$77,711$75,509$73,389$71,348$69,382$61,706
4 years$57,703$55,507$53,409$51,402$49,484$42,139
5 years$45,701$43,518$41,447$39,482$37,617$30,622
6 years$37,702$35,536$33,496$31,574$29,765$23,126
7 years$31,991$29,843$27,835$25,959$24,207$17,923
8 years$27,709$25,581$23,606$21,776$20,082$14,148
9 years$24,381$22,273$20,332$18,548$16,912$11,320
10 years$21,720$19,632$17,726$15,989$14,410$9,150
11 years$19,544$17,478$15,606$13,915$12,393$7,456
12 years$17,732$15,687$13,850$12,205$10,739$6,113
13 years$16,200$14,176$12,374$10,776$9,365$5,037
14 years$14,888$12,886$11,118$9,565$8,209$4,168
15 years$13,752$11,772$10,038$8,531$7,228$3,459
16 years$12,759$10,800$9,101$7,638$6,388$2,879
17 years$11,884$9,947$8,281$6,863$5,664$2,401
18 years$11,107$9,191$7,560$6,185$5,036$2,006
19 years$10,413$8,518$6,921$5,589$4,489$1,679
20 years$9,788$7,916$6,351$5,062$4,010$1,406
21 years$9,224$7,373$5,842$4,594$3,588$1,180
22 years$8,712$6,882$5,384$4,177$3,216$990
23 years$8,245$6,437$4,972$3,804$2,887$832
24 years$7,818$6,031$4,598$3,469$2,595$699
25 years$7,425$5,660$4,259$3,168$2,335$588
26 years$7,063$5,319$3,950$2,897$2,103$495
27 years$6,729$5,006$3,668$2,652$1,896$416
28 years$6,419$4,717$3,409$2,429$1,711$350
29 years$6,131$4,450$3,173$2,228$1,545$295
30 years$5,862$4,203$2,955$2,045$1,396$248
31 years$5,612$3,973$2,755$1,878$1,262$209
32 years$5,377$3,759$2,571$1,726$1,142$176
33 years$5,158$3,560$2,400$1,587$1,033$149
34 years$4,951$3,374$2,243$1,460$936$125
35 years$4,757$3,200$2,097$1,344$847$106
36 years$4,574$3,038$1,961$1,238$768$89
37 years$4,401$2,885$1,836$1,141$696$75
38 years$4,238$2,742$1,719$1,051$631$63
39 years$4,084$2,607$1,611$969$572$53
40 years$3,937$2,480$1,510$894$519$45
41 years$3,799$2,361$1,416$825$471$38
42 years$3,667$2,249$1,328$761$427$32
43 years$3,541$2,143$1,246$703$388$27
44 years$3,422$2,042$1,170$649$352$23
45 years$3,308$1,948$1,098$599$319$19
46 years$3,200$1,858$1,031$554$290$16
47 years$3,096$1,773$969$511$263$14
48 years$2,997$1,693$911$473$239$11
49 years$2,902$1,616$856$437$217$10
50 years$2,812$1,544$805$404$197$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $2,880,000, adding $6,181 every year, while hoping to spend $36,036 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: 60/27/13 Blend
53$2,880,000$2,880,000$2,880,000$2,880,000
54$3,180,136$3,027,496$2,982,856$3,360,443
55$3,466,168$3,137,501$3,044,439$3,592,521
56$3,780,167$3,251,689$3,106,878$3,840,963
57$4,124,948$3,370,226$3,170,163$4,111,106
58$4,503,612$3,493,286$3,234,283$4,405,049
59$4,919,574$3,621,051$3,299,225$4,725,100
60$5,376,598$3,753,709$3,364,976$5,073,798
61$5,878,827$3,891,457$3,431,518$5,453,938
62$6,430,828$4,034,500$3,498,836$5,868,594
63$7,037,633$4,183,051$3,566,907$6,321,152
64$7,704,785$4,337,333$3,635,712$6,815,336
65$8,438,389$4,497,579$3,705,224$7,355,247
66$9,245,174$4,664,029$3,775,418$7,945,397
67$10,132,552$4,836,937$3,846,265$8,590,757
68$11,108,691$5,016,565$3,917,733$9,296,796
69$12,182,588$5,203,187$3,989,788$10,069,537
70$13,364,158$5,397,090$4,062,392$10,915,611
71$14,664,325$5,598,570$4,135,505$11,842,322
72$16,095,125$5,807,939$4,209,083$12,857,708
73$17,669,820$6,025,521$4,283,080$13,970,626
74$19,403,024$6,251,653$4,357,446$15,190,825
75$21,310,838$6,486,689$4,432,125$16,529,046
76$23,411,002$6,730,996$4,507,060$17,997,115
77$25,723,067$6,984,957$4,582,189$19,608,058
78$28,268,573$7,248,973$4,657,446$21,376,223
79$31,071,255$7,523,461$4,732,759$23,317,413
80$34,157,269$7,808,857$4,808,052$25,449,034
81$37,555,434$8,105,614$4,883,245$27,790,260
82$41,297,507$8,414,207$4,958,252$30,362,212
83$45,418,480$8,735,132$5,032,981$33,188,155
84$49,956,915$9,068,903$5,107,336$36,293,719
85$54,955,301$9,416,060$5,181,212$39,707,137
86$60,460,460$9,777,165$5,254,501$43,459,512
87$66,523,987$10,152,806$5,327,087$47,585,109
88$73,202,734$10,543,594$5,398,845$52,121,678
89$80,559,353$10,950,171$5,469,647$57,110,807
90$88,662,881$11,373,202$5,539,353$62,598,313
91$97,589,392$11,813,386$5,607,819$68,634,676
92$107,422,718$12,271,451$5,674,889$75,275,510
93$118,255,239$12,748,155$5,740,401$82,582,092
94$130,188,752$13,244,294$5,804,183$90,621,931
95$143,335,435$13,760,694$5,866,054$99,469,409
96$157,818,903$14,298,223$5,925,821$109,206,482
97$173,775,378$14,857,782$5,983,283$119,923,447
98$191,354,971$15,440,317$6,038,226$131,719,797
99$210,723,098$16,046,813$6,090,428$144,705,155
100$232,062,047$16,678,300$6,139,650$159,000,310