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%13.4%
1 years$86,708$85,936$85,182$84,447$83,728$82,545
2 years$42,925$42,125$41,351$40,599$39,871$38,681
3 years$28,332$27,529$26,757$26,012$25,296$24,136
4 years$21,037$20,237$19,472$18,740$18,041$16,921
5 years$16,662$15,866$15,111$14,394$13,715$12,637
6 years$13,745$12,956$12,212$11,511$10,852$9,818
7 years$11,663$10,880$10,148$9,464$8,825$7,836
8 years$10,102$9,326$8,606$7,939$7,322$6,376
9 years$8,889$8,120$7,413$6,762$6,166$5,264
10 years$7,919$7,158$6,463$5,829$5,254$4,395
11 years$7,125$6,372$5,690$5,073$4,518$3,702
12 years$6,465$5,719$5,049$4,450$3,915$3,140
13 years$5,906$5,168$4,511$3,929$3,414$2,679
14 years$5,428$4,698$4,053$3,487$2,993$2,297
15 years$5,014$4,292$3,660$3,110$2,635$1,977
16 years$4,652$3,938$3,318$2,785$2,329$1,707
17 years$4,333$3,626$3,019$2,502$2,065$1,479
18 years$4,049$3,351$2,756$2,255$1,836$1,284
19 years$3,796$3,106$2,523$2,037$1,637$1,117
20 years$3,569$2,886$2,316$1,845$1,462$973
21 years$3,363$2,688$2,130$1,675$1,308$849
22 years$3,176$2,509$1,963$1,523$1,173$742
23 years$3,006$2,347$1,813$1,387$1,053$649
24 years$2,850$2,199$1,676$1,265$946$569
25 years$2,707$2,063$1,553$1,155$851$498
26 years$2,575$1,939$1,440$1,056$767$437
27 years$2,453$1,825$1,337$967$691$384
28 years$2,340$1,720$1,243$886$624$337
29 years$2,235$1,622$1,157$812$563$296
30 years$2,137$1,532$1,077$745$509$260
31 years$2,046$1,448$1,004$685$460$229
32 years$1,961$1,371$937$629$416$201
33 years$1,880$1,298$875$579$377$177
34 years$1,805$1,230$818$532$341$156
35 years$1,734$1,167$764$490$309$137
36 years$1,668$1,107$715$451$280$121
37 years$1,605$1,052$669$416$254$106
38 years$1,545$1,000$627$383$230$94
39 years$1,489$951$587$353$209$83
40 years$1,436$904$550$326$189$73
41 years$1,385$861$516$301$172$64
42 years$1,337$820$484$278$156$57
43 years$1,291$781$454$256$141$50
44 years$1,248$745$426$237$128$44
45 years$1,206$710$400$218$116$39
46 years$1,167$677$376$202$106$34
47 years$1,129$646$353$186$96$30
48 years$1,093$617$332$172$87$27
49 years$1,058$589$312$159$79$23
50 years$1,025$563$293$147$72$21

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 $6,114 every year, while hoping to spend $55,761 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: 76/5/19 Blend
54$1,050,000$1,050,000$1,050,000$1,050,000
55$1,163,407$1,107,757$1,091,482$1,246,262
56$1,222,745$1,102,707$1,068,717$1,296,891
57$1,286,267$1,095,542$1,043,321$1,344,890
58$1,354,340$1,086,098$1,015,146$1,396,042
59$1,427,368$1,074,202$984,039$1,450,644
60$1,505,794$1,059,672$949,839$1,509,027
61$1,590,104$1,042,315$912,378$1,571,554
62$1,680,831$1,021,925$871,479$1,638,628
63$1,778,561$998,285$826,959$1,710,691
64$1,883,938$971,164$778,625$1,788,233
65$1,997,668$940,319$726,277$1,871,794
66$2,120,528$905,493$669,705$1,961,969
67$2,253,371$866,411$608,689$2,059,416
68$2,397,135$822,786$543,001$2,164,862
69$2,552,852$774,311$472,401$2,279,106
70$2,721,655$720,664$396,638$2,403,032
71$2,904,791$661,504$315,452$2,537,616
72$3,103,630$596,469$228,571$2,683,934
73$3,319,682$525,177$135,710$2,843,173
74$3,554,605$447,226$36,571$3,016,643
75$3,810,224$362,189$0$3,205,790
76$4,088,547$269,617$0$3,426,243
77$4,391,784$169,033$0$3,674,552
78$4,722,366$59,936$0$3,945,305
79$5,082,971$0$0$4,240,715
80$5,476,543$0$0$4,566,422
81$5,906,325$0$0$4,925,734
82$6,375,888$0$0$5,318,343
83$6,889,159$0$0$5,747,538
84$7,450,467$0$0$6,216,943
85$8,064,575$0$0$6,730,547
86$8,736,728$0$0$7,292,742
87$9,472,701$0$0$7,908,364
88$10,278,856$0$0$8,582,741
89$11,162,197$0$0$9,321,737
90$12,130,438$0$0$10,131,813
91$13,192,074$0$0$11,020,084
92$14,356,465$0$0$11,994,385
93$15,633,915$0$0$13,063,347
94$17,035,777$0$0$14,236,479
95$18,574,557$0$0$15,524,250
96$20,264,027$0$0$16,938,198
97$22,119,362$0$0$18,491,028
98$24,157,276$0$0$20,196,738
99$26,396,181$0$0$22,070,750
100$28,856,363$0$0$24,130,049