Can I retire at age 55 with 1,010,000?

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 $1,010,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$83,405$82,662$81,937$81,230$80,539$80,199
2 years$41,290$40,521$39,775$39,053$38,352$38,009
3 years$27,253$26,481$25,737$25,021$24,332$23,997
4 years$20,236$19,466$18,730$18,027$17,354$17,028
5 years$16,027$15,262$14,535$13,846$13,192$12,878
6 years$13,222$12,462$11,747$11,073$10,438$10,135
7 years$11,219$10,466$9,762$9,104$8,489$8,198
8 years$9,717$8,971$8,279$7,637$7,043$6,763
9 years$8,550$7,811$7,130$6,505$5,931$5,662
10 years$7,617$6,885$6,216$5,607$5,053$4,796
11 years$6,854$6,129$5,473$4,880$4,346$4,100
12 years$6,219$5,501$4,857$4,280$3,766$3,531
13 years$5,681$4,972$4,339$3,779$3,284$3,060
14 years$5,221$4,519$3,899$3,355$2,879$2,665
15 years$4,823$4,128$3,520$2,992$2,535$2,331
16 years$4,475$3,788$3,192$2,679$2,240$2,046
17 years$4,168$3,488$2,904$2,407$1,986$1,802
18 years$3,895$3,223$2,651$2,169$1,766$1,591
19 years$3,652$2,987$2,427$1,960$1,574$1,409
20 years$3,433$2,776$2,227$1,775$1,406$1,249
21 years$3,235$2,586$2,049$1,611$1,258$1,110
22 years$3,055$2,414$1,888$1,465$1,128$988
23 years$2,891$2,257$1,743$1,334$1,013$880
24 years$2,742$2,115$1,612$1,217$910$785
25 years$2,604$1,985$1,493$1,111$819$701
26 years$2,477$1,865$1,385$1,016$738$627
27 years$2,360$1,756$1,286$930$665$561
28 years$2,251$1,654$1,196$852$600$502
29 years$2,150$1,561$1,113$781$542$450
30 years$2,056$1,474$1,036$717$490$403
31 years$1,968$1,393$966$659$443$361
32 years$1,886$1,318$901$605$400$324
33 years$1,809$1,248$842$557$362$291
34 years$1,736$1,183$786$512$328$261
35 years$1,668$1,122$735$471$297$235
36 years$1,604$1,065$688$434$269$211
37 years$1,544$1,012$644$400$244$190
38 years$1,486$962$603$369$221$170
39 years$1,432$914$565$340$201$153
40 years$1,381$870$529$314$182$138
41 years$1,332$828$496$289$165$124
42 years$1,286$789$466$267$150$112
43 years$1,242$751$437$246$136$100
44 years$1,200$716$410$228$123$90
45 years$1,160$683$385$210$112$81
46 years$1,122$652$362$194$102$73
47 years$1,086$622$340$179$92$66
48 years$1,051$594$319$166$84$59
49 years$1,018$567$300$153$76$53
50 years$986$541$282$142$69$48

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,010,000, adding $3,478 every year, while hoping to spend $51,184 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: 31/40/29 Blend
54$1,010,000$1,010,000$1,010,000$1,010,000
55$1,116,608$1,063,078$1,047,423$1,141,232
56$1,176,042$1,060,709$1,028,052$1,158,274
57$1,239,824$1,056,509$1,006,317$1,171,891
58$1,308,341$1,050,333$982,084$1,185,552
59$1,382,022$1,042,030$955,214$1,199,296
60$1,461,336$1,031,437$925,562$1,213,174
61$1,546,798$1,018,383$892,973$1,227,244
62$1,638,974$1,002,687$857,290$1,241,574
63$1,738,486$984,154$818,346$1,256,246
64$1,846,016$962,582$775,965$1,271,357
65$1,962,315$937,755$729,966$1,287,017
66$2,088,210$909,443$680,158$1,303,355
67$2,224,606$877,405$626,342$1,320,521
68$2,372,502$841,384$568,311$1,338,685
69$2,532,995$801,109$505,846$1,358,043
70$2,707,290$756,293$438,722$1,378,819
71$2,896,715$706,633$366,701$1,401,269
72$3,102,730$651,808$289,535$1,425,682
73$3,326,941$591,479$206,967$1,452,388
74$3,571,115$525,287$118,726$1,481,758
75$3,837,196$452,854$24,532$1,514,215
76$4,127,326$373,780$0$1,550,234
77$4,443,859$287,641$0$1,613,863
78$4,789,387$193,990$0$1,691,822
79$5,166,766$92,357$0$1,777,286
80$5,579,137$0$0$1,871,120
81$6,029,958$0$0$1,982,101
82$6,523,039$0$0$2,148,094
83$7,062,571$0$0$2,329,880
84$7,653,172$0$0$2,529,031
85$8,299,926$0$0$2,747,284
86$9,008,433$0$0$2,986,548
87$9,784,857$0$0$3,248,926
88$10,635,990$0$0$3,536,736
89$11,569,311$0$0$3,852,530
90$12,593,056$0$0$4,199,119
91$13,716,299$0$0$4,579,599
92$14,949,034$0$0$4,997,382
93$16,302,268$0$0$5,456,224
94$17,788,128$0$0$5,960,266
95$19,419,971$0$0$6,514,066
96$21,212,511$0$0$7,122,648
97$23,181,960$0$0$7,791,545
98$25,346,174$0$0$8,526,856
99$27,724,827$0$0$9,335,297
100$30,339,593$0$0$10,224,267