Can I retire at age 54 with 1,580,000?

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 $1,580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$130,475$129,313$128,179$127,072$125,991$124,728
2 years$64,592$63,389$62,223$61,092$59,996$58,723
3 years$42,633$41,425$40,262$39,142$38,064$36,821
4 years$31,656$30,452$29,301$28,200$27,147$25,945
5 years$25,072$23,875$22,738$21,660$20,637$19,478
6 years$20,684$19,495$18,376$17,322$16,329$15,215
7 years$17,550$16,372$15,271$14,241$13,280$12,211
8 years$15,202$14,034$12,951$11,947$11,017$9,994
9 years$13,376$12,219$11,154$10,176$9,278$8,300
10 years$11,916$10,771$9,725$8,772$7,905$6,971
11 years$10,722$9,588$8,561$7,634$6,799$5,908
12 years$9,728$8,606$7,598$6,696$5,892$5,044
13 years$8,888$7,777$6,788$5,912$5,138$4,332
14 years$8,168$7,069$6,099$5,248$4,504$3,738
15 years$7,545$6,458$5,507$4,680$3,965$3,240
16 years$7,000$5,925$4,993$4,190$3,505$2,817
17 years$6,520$5,457$4,543$3,765$3,107$2,457
18 years$6,093$5,042$4,147$3,393$2,763$2,148
19 years$5,712$4,673$3,797$3,066$2,463$1,882
20 years$5,370$4,343$3,484$2,777$2,200$1,653
21 years$5,060$4,045$3,205$2,520$1,969$1,453
22 years$4,779$3,776$2,954$2,291$1,765$1,280
23 years$4,523$3,531$2,727$2,087$1,584$1,128
24 years$4,289$3,309$2,522$1,903$1,424$996
25 years$4,073$3,105$2,336$1,738$1,281$880
26 years$3,875$2,918$2,167$1,589$1,154$778
27 years$3,692$2,746$2,012$1,455$1,040$688
28 years$3,521$2,588$1,870$1,333$939$609
29 years$3,363$2,441$1,741$1,222$848$540
30 years$3,216$2,306$1,621$1,122$766$478
31 years$3,079$2,180$1,512$1,030$692$424
32 years$2,950$2,062$1,410$947$626$376
33 years$2,830$1,953$1,317$871$567$334
34 years$2,716$1,851$1,230$801$513$296
35 years$2,610$1,756$1,150$737$465$263
36 years$2,509$1,666$1,076$679$421$234
37 years$2,415$1,583$1,007$626$382$207
38 years$2,325$1,504$943$577$346$184
39 years$2,240$1,430$884$532$314$164
40 years$2,160$1,361$828$491$285$145
41 years$2,084$1,295$777$453$258$129
42 years$2,012$1,234$728$418$234$115
43 years$1,943$1,175$684$386$213$102
44 years$1,877$1,120$642$356$193$91
45 years$1,815$1,068$603$329$175$81
46 years$1,755$1,019$566$304$159$72
47 years$1,699$973$532$281$144$64
48 years$1,644$929$500$259$131$57
49 years$1,592$887$470$240$119$50
50 years$1,543$847$441$221$108$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $1,580,000, adding $2,229 every year, while hoping to spend $37,369 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: 51/41/8 Blend
53$1,580,000$1,580,000$1,580,000$1,580,000
54$1,743,459$1,659,719$1,635,229$1,828,716
55$1,881,532$1,701,285$1,650,249$1,928,580
56$2,032,435$1,743,635$1,664,520$2,032,879
57$2,197,439$1,786,769$1,677,976$2,145,375
58$2,377,940$1,830,683$1,690,551$2,266,847
59$2,575,478$1,875,375$1,702,173$2,398,152
60$2,791,748$1,920,838$1,712,766$2,540,235
61$3,028,614$1,967,067$1,722,251$2,694,135
62$3,288,131$2,014,053$1,730,546$2,860,996
63$3,572,564$2,061,784$1,737,562$3,042,078
64$3,884,403$2,110,250$1,743,208$3,238,769
65$4,226,394$2,159,434$1,747,388$3,452,598
66$4,601,561$2,209,321$1,750,000$3,685,248
67$5,013,233$2,259,890$1,750,937$3,938,575
68$5,465,078$2,311,120$1,750,089$4,214,620
69$5,961,137$2,362,986$1,747,338$4,515,635
70$6,505,860$2,415,460$1,742,562$4,844,099
71$7,104,151$2,468,511$1,735,631$5,202,743
72$7,761,411$2,522,104$1,726,411$5,594,578
73$8,483,589$2,576,201$1,714,760$6,022,918
74$9,277,241$2,630,760$1,700,530$6,491,419
75$10,149,587$2,685,735$1,683,565$7,004,105
76$11,108,583$2,741,075$1,663,703$7,565,414
77$12,162,996$2,796,724$1,640,774$8,180,232
78$13,322,480$2,852,622$1,614,598$8,853,948
79$14,597,675$2,908,704$1,584,990$9,592,497
80$16,000,304$2,964,896$1,551,754$10,402,419
81$17,543,282$3,021,123$1,514,684$11,290,925
82$19,240,839$3,077,299$1,473,567$12,265,956
83$21,108,652$3,133,335$1,428,180$13,336,269
84$23,163,998$3,189,132$1,378,287$14,511,510
85$25,425,910$3,244,584$1,323,644$15,802,312
86$27,915,362$3,299,577$1,263,995$17,220,392
87$30,655,462$3,353,990$1,199,072$18,778,662
88$33,671,673$3,407,690$1,128,596$20,491,355
89$36,992,053$3,460,535$1,052,273$22,374,153
90$40,647,516$3,512,376$969,798$24,444,342
91$44,672,128$3,563,047$880,851$26,720,972
92$49,103,426$3,612,377$785,100$29,225,035
93$53,982,770$3,660,178$682,195$31,979,669
94$59,355,737$3,706,251$571,774$35,010,375
95$65,272,548$3,750,384$453,454$38,345,254
96$71,788,544$3,792,349$326,841$42,015,278
97$78,964,705$3,831,903$191,519$46,054,581
98$86,868,227$3,868,788$47,057$50,500,783
99$95,573,155$3,902,728$0$55,395,342
100$105,161,083$3,933,428$0$60,793,093