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

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 $1,010,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$83,405$82,662$81,937$81,230$80,539$79,764
2 years$41,290$40,521$39,775$39,053$38,352$37,571
3 years$27,253$26,481$25,737$25,021$24,332$23,570
4 years$20,236$19,466$18,730$18,027$17,354$16,616
5 years$16,027$15,262$14,535$13,846$13,192$12,481
6 years$13,222$12,462$11,747$11,073$10,438$9,755
7 years$11,219$10,466$9,762$9,104$8,489$7,833
8 years$9,717$8,971$8,279$7,637$7,043$6,414
9 years$8,550$7,811$7,130$6,505$5,931$5,330
10 years$7,617$6,885$6,216$5,607$5,053$4,480
11 years$6,854$6,129$5,473$4,880$4,346$3,799
12 years$6,219$5,501$4,857$4,280$3,766$3,245
13 years$5,681$4,972$4,339$3,779$3,284$2,789
14 years$5,221$4,519$3,899$3,355$2,879$2,408
15 years$4,823$4,128$3,520$2,992$2,535$2,088
16 years$4,475$3,788$3,192$2,679$2,240$1,817
17 years$4,168$3,488$2,904$2,407$1,986$1,586
18 years$3,895$3,223$2,651$2,169$1,766$1,388
19 years$3,652$2,987$2,427$1,960$1,574$1,217
20 years$3,433$2,776$2,227$1,775$1,406$1,069
21 years$3,235$2,586$2,049$1,611$1,258$941
22 years$3,055$2,414$1,888$1,465$1,128$829
23 years$2,891$2,257$1,743$1,334$1,013$731
24 years$2,742$2,115$1,612$1,217$910$646
25 years$2,604$1,985$1,493$1,111$819$571
26 years$2,477$1,865$1,385$1,016$738$505
27 years$2,360$1,756$1,286$930$665$448
28 years$2,251$1,654$1,196$852$600$397
29 years$2,150$1,561$1,113$781$542$352
30 years$2,056$1,474$1,036$717$490$312
31 years$1,968$1,393$966$659$443$277
32 years$1,886$1,318$901$605$400$246
33 years$1,809$1,248$842$557$362$218
34 years$1,736$1,183$786$512$328$194
35 years$1,668$1,122$735$471$297$172
36 years$1,604$1,065$688$434$269$153
37 years$1,544$1,012$644$400$244$136
38 years$1,486$962$603$369$221$121
39 years$1,432$914$565$340$201$108
40 years$1,381$870$529$314$182$96
41 years$1,332$828$496$289$165$85
42 years$1,286$789$466$267$150$76
43 years$1,242$751$437$246$136$67
44 years$1,200$716$410$228$123$60
45 years$1,160$683$385$210$112$53
46 years$1,122$652$362$194$102$47
47 years$1,086$622$340$179$92$42
48 years$1,051$594$319$166$84$38
49 years$1,018$567$300$153$76$33
50 years$986$541$282$142$69$30

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 $2,468 every year, while hoping to spend $23,068 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: 60/13/27 Blend
54$1,010,000$1,010,000$1,010,000$1,010,000
55$1,115,566$1,062,036$1,046,381$1,174,234
56$1,204,809$1,089,531$1,056,890$1,242,000
57$1,302,383$1,117,601$1,066,979$1,313,217
58$1,409,111$1,146,249$1,076,608$1,390,441
59$1,525,903$1,175,477$1,085,737$1,474,260
60$1,653,759$1,205,290$1,094,323$1,565,325
61$1,793,781$1,235,688$1,102,322$1,664,352
62$1,947,182$1,266,673$1,109,685$1,772,130
63$2,115,300$1,298,244$1,116,364$1,889,530
64$2,299,604$1,330,402$1,122,307$2,017,509
65$2,501,717$1,363,145$1,127,457$2,157,125
66$2,723,424$1,396,470$1,131,758$2,309,540
67$2,966,690$1,430,374$1,135,149$2,476,038
68$3,233,681$1,464,852$1,137,566$2,658,032
69$3,526,785$1,499,898$1,138,942$2,857,081
70$3,848,627$1,535,503$1,139,207$3,074,902
71$4,202,104$1,571,660$1,138,288$3,313,387
72$4,590,405$1,608,357$1,136,106$3,574,621
73$5,017,042$1,645,583$1,132,582$3,860,904
74$5,485,887$1,683,323$1,127,630$4,174,769
75$6,001,202$1,721,560$1,121,160$4,519,008
76$6,567,686$1,760,278$1,113,081$4,896,700
77$7,190,514$1,799,455$1,103,292$5,311,235
78$7,875,387$1,839,070$1,091,694$5,766,352
79$8,628,588$1,879,095$1,078,176$6,266,172
80$9,457,037$1,919,504$1,062,629$6,815,236
81$10,368,361$1,960,266$1,044,933$7,418,548
82$11,370,961$2,001,346$1,024,965$8,081,626
83$12,474,095$2,042,707$1,002,597$8,810,549
84$13,687,962$2,084,309$977,693$9,612,019
85$15,023,800$2,126,107$950,113$10,493,421
86$16,493,994$2,168,053$919,708$11,462,894
87$18,112,188$2,210,094$886,324$12,529,412
88$19,893,415$2,252,172$849,800$13,702,860
89$21,854,241$2,294,226$809,966$14,994,138
90$24,012,920$2,336,190$766,647$16,415,256
91$26,389,566$2,377,991$719,656$17,979,452
92$29,006,339$2,419,550$668,803$19,701,315
93$31,887,663$2,460,785$613,885$21,596,925
94$35,060,445$2,501,605$554,691$23,684,005
95$38,554,340$2,541,912$491,002$25,982,085
96$42,402,019$2,581,603$422,587$28,512,691
97$46,639,489$2,620,565$349,208$31,299,548
98$51,306,424$2,658,679$270,613$34,368,802
99$56,446,541$2,695,817$186,541$37,749,271
100$62,108,017$2,731,841$96,719$41,472,711