Can I retire at age 55 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$87,534$86,754$85,993$85,251$84,526$83,366
2 years$43,334$42,527$41,744$40,986$40,250$39,084
3 years$28,602$27,792$27,011$26,260$25,537$24,400
4 years$21,238$20,430$19,657$18,919$18,213$17,114
5 years$16,820$16,017$15,255$14,532$13,845$12,788
6 years$13,876$13,079$12,328$11,621$10,955$9,941
7 years$11,774$10,984$10,245$9,554$8,909$7,939
8 years$10,199$9,415$8,688$8,015$7,391$6,463
9 years$8,974$8,198$7,483$6,827$6,225$5,339
10 years$7,994$7,226$6,524$5,885$5,304$4,460
11 years$7,193$6,433$5,744$5,122$4,561$3,759
12 years$6,526$5,774$5,097$4,492$3,953$3,191
13 years$5,963$5,218$4,554$3,966$3,447$2,724
14 years$5,480$4,743$4,092$3,521$3,021$2,337
15 years$5,062$4,333$3,695$3,140$2,660$2,013
16 years$4,696$3,975$3,350$2,811$2,351$1,740
17 years$4,374$3,661$3,048$2,526$2,085$1,508
18 years$4,088$3,383$2,782$2,276$1,854$1,310
19 years$3,832$3,135$2,547$2,057$1,652$1,140
20 years$3,603$2,913$2,338$1,863$1,476$994
21 years$3,395$2,714$2,150$1,691$1,321$868
22 years$3,206$2,533$1,982$1,537$1,184$760
23 years$3,035$2,369$1,830$1,400$1,063$665
24 years$2,877$2,220$1,692$1,277$955$583
25 years$2,733$2,083$1,567$1,166$859$511
26 years$2,600$1,958$1,454$1,066$774$449
27 years$2,477$1,843$1,350$976$698$394
28 years$2,363$1,736$1,255$894$630$347
29 years$2,256$1,638$1,168$820$569$305
30 years$2,158$1,547$1,088$753$514$268
31 years$2,065$1,462$1,014$691$465$236
32 years$1,979$1,384$946$635$420$208
33 years$1,898$1,310$883$584$380$183
34 years$1,822$1,242$825$537$344$161
35 years$1,751$1,178$772$495$312$142
36 years$1,684$1,118$722$456$283$125
37 years$1,620$1,062$676$420$256$110
38 years$1,560$1,009$633$387$232$97
39 years$1,503$960$593$357$211$86
40 years$1,449$913$556$329$191$76
41 years$1,398$869$521$304$173$67
42 years$1,350$828$489$280$157$59
43 years$1,303$789$459$259$143$52
44 years$1,259$752$430$239$130$46
45 years$1,218$717$404$221$118$40
46 years$1,178$684$380$204$107$36
47 years$1,140$653$357$188$97$31
48 years$1,103$623$335$174$88$28
49 years$1,068$595$315$161$80$24
50 years$1,035$568$296$149$73$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,060,000, adding $2,457 every year, while hoping to spend $37,657 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: 36/42/22 Blend
54$1,060,000$1,060,000$1,060,000$1,060,000
55$1,170,654$1,114,474$1,098,044$1,204,936
56$1,249,994$1,129,017$1,094,762$1,244,827
57$1,336,165$1,143,010$1,090,108$1,284,201
58$1,429,823$1,156,387$1,083,996$1,325,945
59$1,531,691$1,169,076$1,076,336$1,370,294
60$1,642,565$1,181,002$1,067,034$1,417,509
61$1,763,319$1,192,083$1,055,993$1,467,879
62$1,894,917$1,202,234$1,043,107$1,521,724
63$2,038,416$1,211,362$1,028,269$1,579,399
64$2,194,985$1,219,369$1,011,367$1,641,299
65$2,365,906$1,226,151$992,280$1,707,860
66$2,552,593$1,231,597$970,886$1,779,565
67$2,756,601$1,235,588$947,054$1,856,950
68$2,979,642$1,238,000$920,648$1,940,609
69$3,223,603$1,238,699$891,527$2,031,198
70$3,490,558$1,237,543$859,541$2,129,445
71$3,782,795$1,234,383$824,535$2,236,155
72$4,102,830$1,229,057$786,347$2,352,220
73$4,453,436$1,221,398$744,807$2,478,627
74$4,837,665$1,211,225$699,737$2,616,467
75$5,258,879$1,198,348$650,951$2,766,949
76$5,720,783$1,182,565$598,256$2,931,407
77$6,227,454$1,163,662$541,448$3,111,321
78$6,783,384$1,141,412$480,317$3,308,323
79$7,393,523$1,115,574$414,641$3,524,223
80$8,063,320$1,085,895$344,189$3,761,017
81$8,798,779$1,052,105$268,720$4,020,913
82$9,606,515$1,013,918$187,983$4,306,354
83$10,493,813$971,034$101,714$4,620,037
84$11,468,700$923,132$9,639$4,964,943
85$12,540,018$869,876$0$5,344,366
86$13,717,507$810,907$0$5,782,750
87$15,011,900$745,849$0$6,267,077
88$16,435,020$674,302$0$6,799,599
89$17,999,894$595,844$0$7,385,294
90$19,720,873$510,030$0$8,029,661
91$21,613,768$416,388$0$8,738,765
92$23,696,002$314,421$0$9,519,296
93$25,986,769$203,602$0$10,378,637
94$28,507,218$83,378$0$11,324,934
95$31,280,652$0$0$12,367,173
96$34,332,746$0$0$13,536,913
97$37,691,789$0$0$14,866,880
98$41,388,953$0$0$16,330,903
99$45,458,585$0$0$17,942,606
100$49,938,530$0$0$19,717,001