Can I retire at age 55 with 1,040,000?

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 $1,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$85,882$85,117$84,371$83,642$82,931$80,276
2 years$42,516$41,724$40,957$40,213$39,491$36,841
3 years$28,062$27,267$26,502$25,765$25,055$22,492
4 years$20,837$20,044$19,286$18,562$17,869$15,414
5 years$16,503$15,715$14,967$14,257$13,584$11,243
6 years$13,615$12,832$12,096$11,402$10,748$8,524
7 years$11,552$10,777$10,052$9,374$8,741$6,632
8 years$10,006$9,238$8,524$7,864$7,252$5,257
9 years$8,804$8,043$7,342$6,698$6,107$4,224
10 years$7,843$7,089$6,401$5,774$5,204$3,430
11 years$7,058$6,311$5,635$5,025$4,475$2,807
12 years$6,403$5,665$5,001$4,408$3,878$2,312
13 years$5,850$5,119$4,468$3,891$3,382$1,915
14 years$5,376$4,653$4,015$3,454$2,964$1,592
15 years$4,966$4,251$3,625$3,081$2,610$1,328
16 years$4,608$3,900$3,286$2,758$2,307$1,111
17 years$4,292$3,592$2,991$2,478$2,045$931
18 years$4,011$3,319$2,730$2,233$1,819$782
19 years$3,760$3,076$2,499$2,018$1,621$658
20 years$3,535$2,858$2,294$1,828$1,448$554
21 years$3,331$2,662$2,110$1,659$1,296$467
22 years$3,146$2,485$1,944$1,508$1,161$394
23 years$2,977$2,324$1,795$1,374$1,043$333
24 years$2,823$2,178$1,660$1,253$937$282
25 years$2,681$2,044$1,538$1,144$843$238
26 years$2,551$1,921$1,426$1,046$760$201
27 years$2,430$1,808$1,324$958$685$170
28 years$2,318$1,703$1,231$877$618$144
29 years$2,214$1,607$1,146$805$558$122
30 years$2,117$1,518$1,067$738$504$104
31 years$2,027$1,435$995$678$456$88
32 years$1,942$1,357$928$623$412$74
33 years$1,862$1,286$867$573$373$63
34 years$1,788$1,218$810$527$338$53
35 years$1,718$1,156$757$485$306$45
36 years$1,652$1,097$708$447$277$38
37 years$1,589$1,042$663$412$251$33
38 years$1,530$990$621$380$228$28
39 years$1,475$941$582$350$207$23
40 years$1,422$896$545$323$187$20
41 years$1,372$853$511$298$170$17
42 years$1,324$812$480$275$154$14
43 years$1,279$774$450$254$140$12
44 years$1,236$738$422$234$127$10
45 years$1,195$703$397$216$115$9
46 years$1,155$671$372$200$105$7
47 years$1,118$640$350$185$95$6
48 years$1,082$611$329$171$86$5
49 years$1,048$584$309$158$78$5
50 years$1,015$558$291$146$71$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,040,000, adding $3,296 every year, while hoping to spend $29,109 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: 73/19/8 Blend
54$1,040,000$1,040,000$1,040,000$1,040,000
55$1,149,480$1,094,360$1,078,240$1,231,682
56$1,235,755$1,117,012$1,083,389$1,308,999
57$1,329,855$1,139,798$1,087,735$1,389,684
58$1,432,546$1,162,694$1,091,221$1,477,234
59$1,544,674$1,185,675$1,093,785$1,572,318
60$1,667,168$1,208,710$1,095,364$1,675,674
61$1,801,053$1,231,770$1,095,892$1,788,114
62$1,947,454$1,254,821$1,095,298$1,910,531
63$2,107,613$1,277,825$1,093,509$2,043,912
64$2,282,896$1,300,745$1,090,448$2,189,340
65$2,474,807$1,323,538$1,086,034$2,348,011
66$2,685,004$1,346,158$1,080,183$2,521,242
67$2,915,310$1,368,555$1,072,805$2,710,483
68$3,167,736$1,390,678$1,063,808$2,917,333
69$3,444,493$1,412,470$1,053,094$3,143,553
70$3,748,020$1,433,869$1,040,561$3,391,083
71$4,081,000$1,454,811$1,026,102$3,662,061
72$4,446,390$1,475,225$1,009,605$3,958,842
73$4,847,448$1,495,038$990,952$4,284,023
74$5,287,761$1,514,168$970,023$4,640,462
75$5,771,281$1,532,530$946,687$5,031,312
76$6,302,361$1,550,034$920,810$5,460,046
77$6,885,798$1,566,581$892,253$5,930,491
78$7,526,873$1,582,067$860,867$6,446,864
79$8,231,408$1,596,383$826,501$7,013,813
80$9,005,815$1,609,409$788,991$7,636,459
81$9,857,158$1,621,019$748,172$8,320,447
82$10,793,219$1,631,080$703,867$9,071,996
83$11,822,573$1,639,449$655,892$9,897,960
84$12,954,667$1,645,973$604,056$10,805,895
85$14,199,910$1,650,493$548,159$11,804,123
86$15,569,770$1,652,836$487,991$12,901,820
87$17,076,881$1,652,820$423,334$14,109,095
88$18,735,166$1,650,251$353,959$15,437,092
89$20,559,965$1,644,925$279,628$16,898,090
90$22,568,177$1,636,623$200,092$18,505,620
91$24,778,427$1,625,113$115,090$20,274,598
92$27,211,234$1,610,151$24,353$22,221,459
93$29,889,207$1,591,476$0$24,364,318
94$32,837,260$1,568,812$0$26,729,322
95$36,082,845$1,541,867$0$29,334,906
96$39,656,208$1,510,332$0$32,203,261
97$43,590,682$1,473,879$0$35,361,135
98$47,922,992$1,432,159$0$38,838,003
99$52,693,609$1,384,807$0$42,666,349
100$57,947,126$1,331,432$0$46,881,970