Can I retire at age 54 with 1,560,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$128,823$127,676$126,556$125,464$124,397$121,885
2 years$63,774$62,586$61,435$60,319$59,236$56,717
3 years$42,094$40,901$39,753$38,647$37,582$35,133
4 years$31,256$30,066$28,930$27,843$26,804$24,445
5 years$24,754$23,572$22,451$21,386$20,376$18,113
6 years$20,422$19,249$18,143$17,103$16,123$13,959
7 years$17,328$16,165$15,077$14,061$13,112$11,048
8 years$15,009$13,856$12,787$11,795$10,878$8,912
9 years$13,206$12,064$11,013$10,047$9,161$7,292
10 years$11,765$10,634$9,602$8,661$7,805$6,032
11 years$10,586$9,467$8,453$7,537$6,713$5,033
12 years$9,605$8,497$7,502$6,611$5,817$4,229
13 years$8,775$7,679$6,702$5,837$5,073$3,572
14 years$8,065$6,980$6,022$5,181$4,447$3,032
15 years$7,449$6,376$5,437$4,621$3,915$2,583
16 years$6,911$5,850$4,930$4,137$3,460$2,207
17 years$6,437$5,388$4,486$3,717$3,068$1,891
18 years$6,016$4,979$4,095$3,350$2,728$1,624
19 years$5,640$4,614$3,749$3,027$2,432$1,397
20 years$5,302$4,288$3,440$2,742$2,172$1,204
21 years$4,996$3,994$3,164$2,488$1,944$1,039
22 years$4,719$3,728$2,917$2,262$1,742$898
23 years$4,466$3,487$2,693$2,060$1,564$776
24 years$4,235$3,267$2,491$1,879$1,406$672
25 years$4,022$3,066$2,307$1,716$1,265$582
26 years$3,826$2,881$2,139$1,569$1,139$504
27 years$3,645$2,712$1,987$1,436$1,027$437
28 years$3,477$2,555$1,847$1,316$927$379
29 years$3,321$2,411$1,719$1,207$837$329
30 years$3,175$2,276$1,601$1,108$756$286
31 years$3,040$2,152$1,492$1,017$684$248
32 years$2,913$2,036$1,392$935$618$216
33 years$2,794$1,928$1,300$860$560$188
34 years$2,682$1,828$1,215$791$507$163
35 years$2,577$1,733$1,136$728$459$142
36 years$2,478$1,645$1,062$671$416$123
37 years$2,384$1,563$994$618$377$107
38 years$2,296$1,485$931$569$342$93
39 years$2,212$1,412$872$525$310$81
40 years$2,133$1,344$818$484$281$70
41 years$2,058$1,279$767$447$255$61
42 years$1,986$1,218$719$412$231$53
43 years$1,918$1,161$675$381$210$46
44 years$1,854$1,106$634$351$191$40
45 years$1,792$1,055$595$325$173$35
46 years$1,733$1,006$559$300$157$31
47 years$1,677$960$525$277$143$27
48 years$1,623$917$493$256$130$23
49 years$1,572$875$464$237$118$20
50 years$1,523$836$436$219$107$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,560,000, adding $2,830 every year, while hoping to spend $35,132 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: 32/50/18 Blend
53$1,560,000$1,560,000$1,560,000$1,560,000
54$1,722,039$1,639,359$1,615,179$1,767,391
55$1,860,307$1,682,308$1,631,907$1,844,334
56$2,011,501$1,726,183$1,648,019$1,923,735
57$2,176,901$1,770,994$1,663,455$2,008,514
58$2,357,920$1,816,747$1,678,156$2,099,160
59$2,556,111$1,863,451$1,692,057$2,196,213
60$2,773,184$1,911,109$1,705,090$2,300,268
61$3,011,023$1,959,728$1,717,186$2,411,977
62$3,271,704$2,009,312$1,728,268$2,532,061
63$3,557,511$2,059,861$1,738,258$2,661,312
64$3,870,962$2,111,379$1,747,074$2,800,604
65$4,214,828$2,163,864$1,754,629$2,950,897
66$4,592,162$2,217,316$1,760,831$3,113,251
67$5,006,329$2,271,730$1,765,585$3,288,832
68$5,461,032$2,327,102$1,768,789$3,478,925
69$5,960,353$2,383,426$1,770,339$3,684,947
70$6,508,786$2,440,691$1,770,123$3,908,457
71$7,111,285$2,498,888$1,768,025$4,151,174
72$7,773,305$2,558,002$1,763,923$4,414,994
73$8,500,856$2,618,018$1,757,688$4,702,002
74$9,300,559$2,678,917$1,749,186$5,014,499
75$10,179,710$2,740,677$1,738,278$5,355,021
76$11,146,344$2,803,274$1,724,814$5,726,360
77$12,209,317$2,866,680$1,708,641$6,131,597
78$13,378,383$2,930,864$1,689,596$6,574,125
79$14,664,291$2,995,789$1,667,511$7,057,684
80$16,078,883$3,061,417$1,642,206$7,586,397
81$17,635,207$3,127,704$1,613,498$8,164,808
82$19,347,638$3,194,602$1,581,191$8,797,924
83$21,232,017$3,262,058$1,545,081$9,491,266
84$23,305,797$3,330,012$1,504,955$10,250,919
85$25,588,208$3,398,403$1,460,590$11,083,589
86$28,100,439$3,467,159$1,411,754$11,996,668
87$30,865,838$3,536,204$1,358,203$12,998,305
88$33,910,132$3,605,456$1,299,680$14,097,481
89$37,261,666$3,674,824$1,235,921$15,304,096
90$40,951,678$3,744,212$1,166,645$16,629,061
91$45,014,583$3,813,513$1,091,562$18,084,405
92$49,488,310$3,882,613$1,010,368$19,683,386
93$54,414,646$3,951,391$922,745$21,440,617
94$59,839,643$4,019,712$828,360$23,372,205
95$65,814,042$4,087,433$726,866$25,495,906
96$72,393,760$4,154,402$617,900$27,831,289
97$79,640,408$4,220,453$501,085$30,399,925
98$87,621,884$4,285,409$376,025$33,225,591
99$96,413,001$4,349,080$242,308$36,334,492
100$106,096,204$4,411,261$99,501$39,755,516