Can I retire at age 55 with 1,050,000?

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 $1,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$86,708$85,936$85,182$84,447$83,728$82,004
2 years$42,925$42,125$41,351$40,599$39,871$38,142
3 years$28,332$27,529$26,757$26,012$25,296$23,615
4 years$21,037$20,237$19,472$18,740$18,041$16,423
5 years$16,662$15,866$15,111$14,394$13,715$12,163
6 years$13,745$12,956$12,212$11,511$10,852$9,368
7 years$11,663$10,880$10,148$9,464$8,825$7,410
8 years$10,102$9,326$8,606$7,939$7,322$5,974
9 years$8,889$8,120$7,413$6,762$6,166$4,885
10 years$7,919$7,158$6,463$5,829$5,254$4,039
11 years$7,125$6,372$5,690$5,073$4,518$3,368
12 years$6,465$5,719$5,049$4,450$3,915$2,828
13 years$5,906$5,168$4,511$3,929$3,414$2,387
14 years$5,428$4,698$4,053$3,487$2,993$2,025
15 years$5,014$4,292$3,660$3,110$2,635$1,723
16 years$4,652$3,938$3,318$2,785$2,329$1,472
17 years$4,333$3,626$3,019$2,502$2,065$1,260
18 years$4,049$3,351$2,756$2,255$1,836$1,081
19 years$3,796$3,106$2,523$2,037$1,637$930
20 years$3,569$2,886$2,316$1,845$1,462$800
21 years$3,363$2,688$2,130$1,675$1,308$690
22 years$3,176$2,509$1,963$1,523$1,173$596
23 years$3,006$2,347$1,813$1,387$1,053$515
24 years$2,850$2,199$1,676$1,265$946$445
25 years$2,707$2,063$1,553$1,155$851$385
26 years$2,575$1,939$1,440$1,056$767$334
27 years$2,453$1,825$1,337$967$691$289
28 years$2,340$1,720$1,243$886$624$251
29 years$2,235$1,622$1,157$812$563$217
30 years$2,137$1,532$1,077$745$509$189
31 years$2,046$1,448$1,004$685$460$164
32 years$1,961$1,371$937$629$416$142
33 years$1,880$1,298$875$579$377$123
34 years$1,805$1,230$818$532$341$107
35 years$1,734$1,167$764$490$309$93
36 years$1,668$1,107$715$451$280$81
37 years$1,605$1,052$669$416$254$70
38 years$1,545$1,000$627$383$230$61
39 years$1,489$951$587$353$209$53
40 years$1,436$904$550$326$189$46
41 years$1,385$861$516$301$172$40
42 years$1,337$820$484$278$156$35
43 years$1,291$781$454$256$141$30
44 years$1,248$745$426$237$128$26
45 years$1,206$710$400$218$116$23
46 years$1,167$677$376$202$106$20
47 years$1,129$646$353$186$96$17
48 years$1,093$617$332$172$87$15
49 years$1,058$589$312$159$79$13
50 years$1,025$563$293$147$72$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,050,000, adding $4,985 every year, while hoping to spend $53,150 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: 59/29/12 Blend
54$1,050,000$1,050,000$1,050,000$1,050,000
55$1,162,242$1,106,592$1,090,317$1,227,121
56$1,224,240$1,104,264$1,070,291$1,269,076
57$1,290,779$1,100,040$1,047,814$1,308,406
58$1,362,269$1,093,772$1,022,745$1,350,015
59$1,439,155$1,085,302$994,942$1,394,129
60$1,521,928$1,074,461$964,252$1,440,995
61$1,611,128$1,061,072$930,517$1,490,893
62$1,707,346$1,044,948$893,573$1,544,128
63$1,811,232$1,025,887$853,244$1,601,041
64$1,923,501$1,003,680$809,352$1,662,010
65$2,044,939$978,101$761,706$1,727,455
66$2,176,409$948,913$710,109$1,797,841
67$2,318,859$915,867$654,354$1,873,682
68$2,473,334$878,695$594,226$1,955,550
69$2,640,981$837,118$529,499$2,044,077
70$2,823,062$790,838$459,938$2,139,966
71$3,020,965$739,539$385,297$2,243,991
72$3,236,217$682,891$305,319$2,357,015
73$3,470,500$620,541$219,735$2,479,988
74$3,725,661$552,118$128,266$2,613,967
75$4,003,735$477,228$30,620$2,760,117
76$4,306,962$395,458$0$2,919,732
77$4,637,806$306,369$0$3,103,662
78$4,998,979$209,498$0$3,308,865
79$5,393,467$104,356$0$3,533,207
80$5,824,558$0$0$3,778,669
81$6,295,870$0$0$4,050,494
82$6,811,388$0$0$4,384,320
83$7,375,500$0$0$4,749,698
84$7,993,035$0$0$5,149,767
85$8,669,313$0$0$5,587,985
86$9,410,193$0$0$6,068,159
87$10,222,126$0$0$6,594,481
88$11,112,217$0$0$7,171,571
89$12,088,291$0$0$7,804,514
90$13,158,968$0$0$8,498,912
91$14,333,741$0$0$9,260,937
92$15,623,066$0$0$10,097,385
93$17,038,461$0$0$11,015,744
94$18,592,615$0$0$12,024,261
95$20,299,504$0$0$13,132,021
96$22,174,525$0$0$14,349,033
97$24,234,638$0$0$15,686,323
98$26,498,530$0$0$17,156,037
99$28,986,786$0$0$18,771,559
100$31,722,083$0$0$20,547,630