Can I retire at age 54 with 580,000?

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 $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%14.6%
1 years$47,896$47,469$47,053$46,647$46,250$45,372
2 years$23,711$23,269$22,841$22,426$22,024$21,143
3 years$15,650$15,207$14,780$14,369$13,973$13,116
4 years$11,621$11,179$10,756$10,352$9,966$9,139
5 years$9,204$8,764$8,347$7,951$7,576$6,783
6 years$7,593$7,157$6,746$6,359$5,994$5,236
7 years$6,443$6,010$5,606$5,228$4,875$4,151
8 years$5,580$5,152$4,754$4,385$4,044$3,354
9 years$4,910$4,486$4,095$3,735$3,406$2,750
10 years$4,374$3,954$3,570$3,220$2,902$2,279
11 years$3,936$3,520$3,143$2,802$2,496$1,905
12 years$3,571$3,159$2,789$2,458$2,163$1,603
13 years$3,263$2,855$2,492$2,170$1,886$1,357
14 years$2,998$2,595$2,239$1,926$1,653$1,154
15 years$2,770$2,371$2,022$1,718$1,456$985
16 years$2,570$2,175$1,833$1,538$1,287$844
17 years$2,393$2,003$1,668$1,382$1,141$725
18 years$2,237$1,851$1,522$1,246$1,014$624
19 years$2,097$1,715$1,394$1,125$904$538
20 years$1,971$1,594$1,279$1,019$808$464
21 years$1,858$1,485$1,177$925$723$402
22 years$1,754$1,386$1,084$841$648$348
23 years$1,660$1,296$1,001$766$581$301
24 years$1,574$1,215$926$699$523$262
25 years$1,495$1,140$858$638$470$227
26 years$1,422$1,071$795$583$424$197
27 years$1,355$1,008$739$534$382$171
28 years$1,293$950$687$489$345$149
29 years$1,235$896$639$449$311$130
30 years$1,181$846$595$412$281$113
31 years$1,130$800$555$378$254$98
32 years$1,083$757$518$348$230$86
33 years$1,039$717$483$320$208$75
34 years$997$680$452$294$188$65
35 years$958$645$422$271$171$57
36 years$921$612$395$249$155$49
37 years$886$581$370$230$140$43
38 years$854$552$346$212$127$38
39 years$822$525$324$195$115$33
40 years$793$500$304$180$104$29
41 years$765$476$285$166$95$25
42 years$738$453$267$153$86$22
43 years$713$431$251$142$78$19
44 years$689$411$236$131$71$17
45 years$666$392$221$121$64$14
46 years$644$374$208$111$58$13
47 years$624$357$195$103$53$11
48 years$604$341$183$95$48$10
49 years$585$326$172$88$44$8
50 years$566$311$162$81$40$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $580,000, adding $2,067 every year, while hoping to spend $31,639 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: 53/33/14 Blend
53$580,000$580,000$580,000$580,000
54$641,292$610,552$601,562$672,788
55$673,040$606,806$588,051$690,761
56$706,966$601,815$573,026$706,754
57$743,259$595,486$556,405$723,437
58$782,125$587,719$538,098$740,884
59$823,792$578,407$518,015$759,178
60$868,509$567,439$496,058$778,411
61$916,548$554,694$472,127$798,687
62$968,210$540,048$446,117$820,123
63$1,023,824$523,367$417,919$842,849
64$1,083,751$504,510$387,417$867,011
65$1,148,389$483,326$354,491$892,772
66$1,218,175$459,659$319,016$920,313
67$1,293,587$433,341$280,861$949,839
68$1,375,152$404,194$239,890$981,575
69$1,463,451$372,032$195,959$1,015,776
70$1,559,118$336,657$148,919$1,052,722
71$1,662,855$297,861$98,615$1,092,729
72$1,775,432$255,421$44,884$1,136,145
73$1,897,695$209,106$0$1,183,361
74$2,030,576$158,668$0$1,236,670
75$2,175,098$103,847$0$1,301,969
76$2,332,391$44,367$0$1,373,110
77$2,503,693$0$0$1,450,716
78$2,690,370$0$0$1,542,763
79$2,893,924$0$0$1,660,750
80$3,116,009$0$0$1,789,533
81$3,358,444$0$0$1,930,171
82$3,623,232$0$0$2,083,836
83$3,912,578$0$0$2,251,812
84$4,228,911$0$0$2,435,519
85$4,574,903$0$0$2,636,514
86$4,953,497$0$0$2,856,518
87$5,367,935$0$0$3,097,421
88$5,821,785$0$0$3,361,306
89$6,318,976$0$0$3,650,469
90$6,863,837$0$0$3,967,434
91$7,461,134$0$0$4,314,985
92$8,116,117$0$0$4,696,188
93$8,834,567$0$0$5,114,416
94$9,622,854$0$0$5,573,389
95$10,487,991$0$0$6,077,203
96$11,437,705$0$0$6,630,368
97$12,480,509$0$0$7,237,855
98$13,625,778$0$0$7,905,138
99$14,883,840$0$0$8,638,248
100$16,266,073$0$0$9,443,829