Can I retire at age 55 with 1,030,000?

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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$85,056$84,299$83,560$82,838$82,134$81,242
2 years$42,107$41,323$40,563$39,826$39,111$38,214
3 years$27,793$27,005$26,247$25,517$24,814$23,938
4 years$20,637$19,852$19,101$18,384$17,697$16,850
5 years$16,344$15,564$14,823$14,120$13,453$12,637
6 years$13,484$12,709$11,979$11,292$10,645$9,861
7 years$11,441$10,673$9,955$9,284$8,657$7,905
8 years$9,910$9,149$8,443$7,788$7,182$6,462
9 years$8,720$7,966$7,272$6,634$6,048$5,360
10 years$7,768$7,021$6,339$5,718$5,154$4,497
11 years$6,990$6,251$5,581$4,977$4,432$3,807
12 years$6,342$5,610$4,953$4,365$3,841$3,246
13 years$5,794$5,070$4,425$3,854$3,349$2,784
14 years$5,325$4,609$3,976$3,421$2,936$2,399
15 years$4,918$4,210$3,590$3,051$2,585$2,076
16 years$4,563$3,863$3,255$2,732$2,285$1,803
17 years$4,250$3,557$2,962$2,454$2,026$1,570
18 years$3,972$3,287$2,704$2,212$1,801$1,371
19 years$3,724$3,046$2,475$1,999$1,605$1,200
20 years$3,501$2,831$2,272$1,810$1,434$1,052
21 years$3,299$2,637$2,089$1,643$1,283$923
22 years$3,116$2,461$1,926$1,494$1,150$812
23 years$2,949$2,302$1,778$1,360$1,033$715
24 years$2,796$2,157$1,644$1,241$928$630
25 years$2,655$2,024$1,523$1,133$835$555
26 years$2,526$1,902$1,413$1,036$752$490
27 years$2,407$1,790$1,312$948$678$433
28 years$2,296$1,687$1,219$869$612$383
29 years$2,193$1,592$1,135$797$553$339
30 years$2,097$1,503$1,057$731$499$300
31 years$2,007$1,421$985$672$451$265
32 years$1,923$1,344$919$617$408$235
33 years$1,845$1,273$858$568$370$208
34 years$1,771$1,207$802$522$335$184
35 years$1,701$1,145$750$481$303$163
36 years$1,636$1,086$701$443$275$145
37 years$1,574$1,032$657$408$249$128
38 years$1,516$981$615$376$226$114
39 years$1,461$932$576$347$205$101
40 years$1,408$887$540$320$186$90
41 years$1,359$844$506$295$168$80
42 years$1,311$804$475$272$153$71
43 years$1,266$766$446$251$139$63
44 years$1,224$730$418$232$126$56
45 years$1,183$697$393$214$114$49
46 years$1,144$664$369$198$104$44
47 years$1,107$634$347$183$94$39
48 years$1,072$605$326$169$86$34
49 years$1,038$578$306$156$78$31
50 years$1,006$552$288$144$71$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,030,000, adding $5,068 every year, while hoping to spend $30,695 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: 39/31/30 Blend
54$1,030,000$1,030,000$1,030,000$1,030,000
55$1,140,288$1,085,698$1,069,733$1,174,462
56$1,223,938$1,106,238$1,072,909$1,220,540
57$1,315,091$1,126,755$1,075,164$1,267,154
58$1,414,482$1,147,217$1,076,433$1,316,987
59$1,522,915$1,167,587$1,076,649$1,370,352
60$1,641,279$1,187,826$1,075,744$1,427,597
61$1,770,552$1,207,892$1,073,644$1,489,105
62$1,911,810$1,227,740$1,070,273$1,555,302
63$2,066,236$1,247,321$1,065,549$1,626,655
64$2,235,136$1,266,583$1,059,388$1,703,682
65$2,419,945$1,285,471$1,051,703$1,786,954
66$2,622,245$1,303,925$1,042,400$1,877,104
67$2,843,777$1,321,879$1,031,383$1,974,828
68$3,086,457$1,339,267$1,018,550$2,080,896
69$3,352,399$1,356,014$1,003,794$2,196,161
70$3,643,927$1,372,042$987,005$2,321,560
71$3,963,602$1,387,267$968,064$2,458,132
72$4,314,247$1,401,600$946,851$2,607,022
73$4,698,967$1,414,945$923,238$2,769,496
74$5,121,186$1,427,202$897,091$2,946,949
75$5,584,673$1,438,261$868,270$3,140,924
76$6,093,581$1,448,008$836,628$3,353,122
77$6,652,486$1,456,319$802,014$3,585,423
78$7,266,425$1,463,064$764,267$3,839,900
79$7,940,950$1,468,104$723,221$4,118,843
80$8,682,178$1,471,292$678,699$4,424,777
81$9,496,845$1,472,471$630,521$4,760,491
82$10,392,375$1,471,473$578,495$5,129,062
83$11,376,944$1,468,123$522,421$5,533,885
84$12,459,563$1,462,231$462,093$5,978,706
85$13,650,157$1,453,599$397,292$6,467,661
86$14,959,663$1,442,016$327,791$7,005,309
87$16,400,130$1,427,256$253,354$7,596,684
88$17,984,835$1,409,082$173,732$8,247,336
89$19,728,403$1,387,242$88,667$8,963,391
90$21,646,952$1,361,470$0$9,751,605
91$23,758,241$1,331,481$0$10,620,107
92$26,081,835$1,296,977$0$11,606,774
93$28,639,293$1,257,640$0$12,692,357
94$31,454,372$1,213,135$0$13,886,954
95$34,553,245$1,163,106$0$15,201,700
96$37,964,754$1,107,177$0$16,648,866
97$41,720,681$1,044,950$0$18,241,981
98$45,856,043$976,005$0$19,995,958
99$50,409,428$899,898$0$21,927,235
100$55,423,354$816,157$0$24,053,932