Can I retire at age 55 with 1,020,000?

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 $1,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$84,231$83,480$82,748$82,034$81,336$79,402
2 years$41,698$40,922$40,169$39,439$38,732$36,794
3 years$27,523$26,743$25,992$25,269$24,573$22,693
4 years$20,436$19,659$18,916$18,205$17,526$15,718
5 years$16,186$15,413$14,679$13,983$13,323$11,592
6 years$13,353$12,586$11,863$11,182$10,542$8,889
7 years$11,330$10,569$9,858$9,194$8,573$7,000
8 years$9,814$9,060$8,361$7,712$7,112$5,617
9 years$8,635$7,888$7,201$6,569$5,990$4,571
10 years$7,692$6,953$6,278$5,663$5,103$3,761
11 years$6,922$6,190$5,527$4,928$4,389$3,120
12 years$6,280$5,556$4,905$4,323$3,804$2,606
13 years$5,738$5,021$4,382$3,816$3,317$2,188
14 years$5,273$4,564$3,938$3,388$2,907$1,846
15 years$4,871$4,169$3,555$3,021$2,560$1,563
16 years$4,519$3,825$3,223$2,705$2,262$1,327
17 years$4,209$3,523$2,933$2,431$2,006$1,129
18 years$3,934$3,255$2,677$2,190$1,784$964
19 years$3,688$3,017$2,451$1,979$1,590$823
20 years$3,467$2,803$2,249$1,793$1,420$705
21 years$3,267$2,611$2,069$1,627$1,271$604
22 years$3,085$2,438$1,907$1,479$1,139$518
23 years$2,920$2,280$1,761$1,347$1,023$445
24 years$2,769$2,136$1,628$1,229$919$382
25 years$2,630$2,005$1,508$1,122$827$329
26 years$2,502$1,884$1,399$1,026$745$283
27 years$2,383$1,773$1,299$939$672$244
28 years$2,273$1,671$1,208$860$606$210
29 years$2,171$1,576$1,124$789$547$181
30 years$2,076$1,488$1,047$724$494$156
31 years$1,988$1,407$976$665$447$134
32 years$1,905$1,331$910$611$404$116
33 years$1,827$1,261$850$562$366$100
34 years$1,754$1,195$794$517$331$86
35 years$1,685$1,133$743$476$300$74
36 years$1,620$1,076$695$438$272$64
37 years$1,559$1,022$650$404$246$55
38 years$1,501$971$609$372$223$48
39 years$1,446$923$570$343$203$41
40 years$1,395$879$535$317$184$36
41 years$1,345$836$501$292$167$31
42 years$1,299$796$470$270$151$27
43 years$1,254$759$441$249$137$23
44 years$1,212$723$414$230$125$20
45 years$1,172$690$389$212$113$17
46 years$1,133$658$365$196$103$15
47 years$1,097$628$343$181$93$13
48 years$1,061$599$323$167$85$11
49 years$1,028$572$303$155$77$9
50 years$996$547$285$143$70$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,020,000, adding $4,972 every year, while hoping to spend $52,535 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: 88/5/7 Blend
54$1,020,000$1,020,000$1,020,000$1,020,000
55$1,129,169$1,075,109$1,059,299$1,227,562
56$1,188,447$1,071,892$1,038,888$1,289,173
57$1,252,011$1,066,757$1,016,033$1,349,058
58$1,320,242$1,059,555$990,597$1,413,180
59$1,393,560$1,050,125$962,435$1,481,926
60$1,472,423$1,038,302$931,396$1,555,721
61$1,557,337$1,023,906$897,325$1,635,036
62$1,648,857$1,006,748$860,057$1,720,386
63$1,747,590$986,629$819,419$1,812,340
64$1,854,207$963,336$775,231$1,911,520
65$1,969,442$936,645$727,308$2,018,617
66$2,094,103$906,319$675,450$2,134,386
67$2,229,079$872,106$619,455$2,259,662
68$2,375,345$833,740$559,108$2,395,361
69$2,533,976$790,939$494,184$2,542,495
70$2,706,153$743,406$424,449$2,702,176
71$2,893,173$690,825$349,661$2,875,630
72$3,096,466$632,865$269,564$3,064,205
73$3,317,602$569,172$183,891$3,269,389
74$3,558,311$499,375$92,365$3,492,819
75$3,820,496$423,081$0$3,736,298
76$4,106,249$339,875$0$4,002,211
77$4,417,875$249,317$0$4,299,736
78$4,757,909$150,945$0$4,624,403
79$5,129,144$44,269$0$4,978,894
80$5,534,651$0$0$5,366,161
81$5,977,814$0$0$5,793,374
82$6,462,356$0$0$6,263,148
83$6,992,377$0$0$6,777,022
84$7,572,393$0$0$7,339,376
85$8,207,374$0$0$7,955,028
86$8,902,796$0$0$8,629,289
87$9,664,686$0$0$9,368,005
88$10,499,683$0$0$10,177,613
89$11,415,100$0$0$11,065,204
90$12,418,990$0$0$12,038,588
91$13,520,222$0$0$13,106,366
92$14,728,567$0$0$14,278,013
93$16,054,785$0$0$15,563,963
94$17,510,730$0$0$16,975,713
95$19,109,460$0$0$18,525,924
96$20,865,359$0$0$20,228,546
97$22,794,271$0$0$22,098,944
98$24,913,653$0$0$24,154,046
99$27,242,734$0$0$26,412,499
100$29,802,700$0$0$28,894,850