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%14.5%
1 years$85,056$84,299$83,560$82,838$82,134$80,607
2 years$42,107$41,323$40,563$39,826$39,111$37,579
3 years$27,793$27,005$26,247$25,517$24,814$23,324
4 years$20,637$19,852$19,101$18,384$17,697$16,261
5 years$16,344$15,564$14,823$14,120$13,453$12,074
6 years$13,484$12,709$11,979$11,292$10,645$9,325
7 years$11,441$10,673$9,955$9,284$8,657$7,397
8 years$9,910$9,149$8,443$7,788$7,182$5,981
9 years$8,720$7,966$7,272$6,634$6,048$4,906
10 years$7,768$7,021$6,339$5,718$5,154$4,068
11 years$6,990$6,251$5,581$4,977$4,432$3,403
12 years$6,342$5,610$4,953$4,365$3,841$2,866
13 years$5,794$5,070$4,425$3,854$3,349$2,428
14 years$5,325$4,609$3,976$3,421$2,936$2,066
15 years$4,918$4,210$3,590$3,051$2,585$1,765
16 years$4,563$3,863$3,255$2,732$2,285$1,513
17 years$4,250$3,557$2,962$2,454$2,026$1,300
18 years$3,972$3,287$2,704$2,212$1,801$1,119
19 years$3,724$3,046$2,475$1,999$1,605$966
20 years$3,501$2,831$2,272$1,810$1,434$835
21 years$3,299$2,637$2,089$1,643$1,283$723
22 years$3,116$2,461$1,926$1,494$1,150$626
23 years$2,949$2,302$1,778$1,360$1,033$543
24 years$2,796$2,157$1,644$1,241$928$472
25 years$2,655$2,024$1,523$1,133$835$410
26 years$2,526$1,902$1,413$1,036$752$356
27 years$2,407$1,790$1,312$948$678$310
28 years$2,296$1,687$1,219$869$612$270
29 years$2,193$1,592$1,135$797$553$235
30 years$2,097$1,503$1,057$731$499$205
31 years$2,007$1,421$985$672$451$178
32 years$1,923$1,344$919$617$408$155
33 years$1,845$1,273$858$568$370$136
34 years$1,771$1,207$802$522$335$118
35 years$1,701$1,145$750$481$303$103
36 years$1,636$1,086$701$443$275$90
37 years$1,574$1,032$657$408$249$78
38 years$1,516$981$615$376$226$68
39 years$1,461$932$576$347$205$60
40 years$1,408$887$540$320$186$52
41 years$1,359$844$506$295$168$46
42 years$1,311$804$475$272$153$40
43 years$1,266$766$446$251$139$35
44 years$1,224$730$418$232$126$30
45 years$1,183$697$393$214$114$26
46 years$1,144$664$369$198$104$23
47 years$1,107$634$347$183$94$20
48 years$1,072$605$326$169$86$18
49 years$1,038$578$306$156$78$15
50 years$1,006$552$288$144$71$13

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 $2,568 every year, while hoping to spend $43,118 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: 89/6/5 Blend
54$1,030,000$1,030,000$1,030,000$1,030,000
55$1,137,709$1,083,119$1,067,154$1,238,906
56$1,207,878$1,090,314$1,057,026$1,312,285
57$1,283,759$1,096,418$1,045,114$1,386,614
58$1,365,890$1,101,329$1,031,313$1,466,904
59$1,454,860$1,104,944$1,015,511$1,553,722
60$1,551,319$1,107,149$997,594$1,647,692
61$1,655,981$1,107,827$977,441$1,749,499
62$1,769,630$1,106,850$954,925$1,859,901
63$1,893,132$1,104,085$929,914$1,979,728
64$2,027,435$1,099,389$902,270$2,109,897
65$2,173,585$1,092,610$871,847$2,251,416
66$2,332,731$1,083,589$838,495$2,405,394
67$2,506,140$1,072,155$802,055$2,573,056
68$2,695,205$1,058,129$762,362$2,755,746
69$2,901,457$1,041,318$719,242$2,954,948
70$3,126,583$1,021,521$672,515$3,172,293
71$3,372,442$998,523$621,991$3,409,581
72$3,641,078$972,097$567,474$3,668,793
73$3,934,740$942,002$508,757$3,952,109
74$4,255,908$907,984$445,625$4,261,934
75$4,607,309$869,774$377,852$4,600,915
76$4,991,948$827,087$305,204$4,971,969
77$5,413,134$779,621$227,434$5,378,309
78$5,874,508$727,057$144,288$5,823,475
79$6,380,083$669,058$55,497$6,311,368
80$6,934,278$605,268$0$6,846,283
81$7,541,959$535,311$0$7,435,050
82$8,208,485$458,787$0$8,084,086
83$8,939,760$375,277$0$8,796,191
84$9,742,286$284,337$0$9,577,715
85$10,623,226$185,496$0$10,435,654
86$11,590,470$78,261$0$11,377,713
87$12,652,709$0$0$12,412,385
88$13,819,516$0$0$13,551,526
89$15,101,439$0$0$14,808,735
90$16,510,096$0$0$16,190,241
91$18,058,288$0$0$17,708,597
92$19,760,117$0$0$19,377,634
93$21,631,119$0$0$21,212,591
94$23,688,410$0$0$23,230,253
95$25,950,848$0$0$25,449,118
96$28,439,212$0$0$27,889,562
97$31,176,392$0$0$30,574,037
98$34,187,610$0$0$33,527,280
99$37,500,656$0$0$36,776,548
100$41,146,149$0$0$40,351,869