Can I retire at age 55 with 1,080,000?

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 $1,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$89,185$88,391$87,616$86,859$86,121$83,397
2 years$44,151$43,329$42,532$41,759$41,010$38,291
3 years$29,142$28,316$27,521$26,756$26,018$23,389
4 years$21,638$20,815$20,028$19,276$18,557$16,037
5 years$17,138$16,319$15,543$14,806$14,106$11,703
6 years$14,138$13,326$12,561$11,840$11,162$8,877
7 years$11,997$11,191$10,438$9,735$9,078$6,911
8 years$10,391$9,593$8,852$8,166$7,531$5,481
9 years$9,143$8,352$7,625$6,956$6,342$4,407
10 years$8,145$7,362$6,647$5,996$5,404$3,581
11 years$7,329$6,554$5,852$5,218$4,647$2,933
12 years$6,650$5,883$5,194$4,577$4,027$2,417
13 years$6,075$5,316$4,640$4,041$3,512$2,003
14 years$5,583$4,832$4,169$3,587$3,078$1,666
15 years$5,157$4,414$3,764$3,199$2,711$1,391
16 years$4,785$4,050$3,413$2,864$2,396$1,164
17 years$4,457$3,730$3,106$2,574$2,124$977
18 years$4,165$3,447$2,835$2,319$1,889$821
19 years$3,905$3,194$2,595$2,096$1,683$691
20 years$3,671$2,968$2,382$1,898$1,504$583
21 years$3,459$2,765$2,191$1,723$1,346$492
22 years$3,267$2,581$2,019$1,566$1,206$415
23 years$3,092$2,414$1,864$1,426$1,083$351
24 years$2,932$2,262$1,724$1,301$973$297
25 years$2,784$2,122$1,597$1,188$876$251
26 years$2,649$1,995$1,481$1,086$789$213
27 years$2,523$1,877$1,375$994$711$180
28 years$2,407$1,769$1,279$911$642$153
29 years$2,299$1,669$1,190$835$579$129
30 years$2,198$1,576$1,108$767$524$110
31 years$2,104$1,490$1,033$704$473$93
32 years$2,017$1,410$964$647$428$79
33 years$1,934$1,335$900$595$387$67
34 years$1,857$1,265$841$548$351$57
35 years$1,784$1,200$786$504$318$48
36 years$1,715$1,139$736$464$288$41
37 years$1,651$1,082$688$428$261$35
38 years$1,589$1,028$645$394$237$29
39 years$1,531$978$604$364$215$25
40 years$1,477$930$566$335$195$21
41 years$1,424$885$531$309$177$18
42 years$1,375$843$498$285$160$15
43 years$1,328$803$467$264$145$13
44 years$1,283$766$439$243$132$11
45 years$1,241$730$412$225$120$9
46 years$1,200$697$387$208$109$8
47 years$1,161$665$363$192$99$7
48 years$1,124$635$341$177$90$6
49 years$1,088$606$321$164$81$5
50 years$1,054$579$302$151$74$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,080,000, adding $2,339 every year, while hoping to spend $53,123 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: 56/34/10 Blend
54$1,080,000$1,080,000$1,080,000$1,080,000
55$1,192,573$1,135,333$1,118,593$1,256,309
56$1,257,693$1,134,442$1,099,543$1,298,755
57$1,327,674$1,131,726$1,078,075$1,338,892
58$1,402,958$1,127,041$1,054,051$1,381,339
59$1,484,026$1,120,233$1,027,328$1,426,323
60$1,571,408$1,111,136$997,755$1,474,099
61$1,665,688$1,099,578$965,177$1,524,947
62$1,767,506$1,085,375$929,427$1,579,181
63$1,877,564$1,068,331$890,336$1,637,146
64$1,996,636$1,048,240$847,723$1,699,229
65$2,125,572$1,024,882$801,400$1,765,855
66$2,265,305$998,026$751,172$1,837,500
67$2,416,864$967,427$696,834$1,914,687
68$2,581,377$932,824$638,170$1,998,000
69$2,760,087$893,942$574,959$2,088,084
70$2,954,360$850,490$506,965$2,185,655
71$3,165,702$802,160$433,945$2,291,506
72$3,395,765$748,627$355,643$2,406,516
73$3,646,370$689,547$271,794$2,531,658
74$3,919,520$624,555$182,120$2,668,009
75$4,217,419$553,267$86,329$2,816,763
76$4,542,496$475,277$0$2,979,242
77$4,897,419$390,154$0$3,158,605
78$5,285,129$297,445$0$3,364,714
79$5,708,863$196,671$0$3,590,174
80$6,172,185$87,326$0$3,837,005
81$6,679,018$0$0$4,107,436
82$7,233,681$0$0$4,415,578
83$7,840,932$0$0$4,788,798
84$8,506,010$0$0$5,197,656
85$9,234,683$0$0$5,645,710
86$10,033,303$0$0$6,136,879
87$10,908,868$0$0$6,675,479
88$11,869,085$0$0$7,266,265
89$12,922,440$0$0$7,914,472
90$14,078,282$0$0$8,625,869
91$15,346,910$0$0$9,406,807
92$16,739,666$0$0$10,264,286
93$18,269,045$0$0$11,206,015
94$19,948,812$0$0$12,240,485
95$21,794,129$0$0$13,377,052
96$23,821,701$0$0$14,626,022
97$26,049,928$0$0$15,998,749
98$28,499,085$0$0$17,507,741
99$31,191,507$0$0$19,166,780
100$34,151,798$0$0$20,991,049