Can I retire at age 55 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$92,489$91,665$90,861$90,076$89,310$86,005
2 years$45,786$44,934$44,107$43,306$42,529$39,236
3 years$30,221$29,365$28,540$27,747$26,982$23,805
4 years$22,440$21,586$20,770$19,990$19,244$16,207
5 years$17,772$16,924$16,118$15,354$14,629$11,741
6 years$14,662$13,820$13,026$12,279$11,575$8,837
7 years$12,441$11,606$10,825$10,095$9,414$6,826
8 years$10,776$9,948$9,180$8,469$7,810$5,369
9 years$9,482$8,662$7,907$7,213$6,577$4,280
10 years$8,447$7,635$6,893$6,218$5,604$3,447
11 years$7,601$6,797$6,069$5,411$4,819$2,797
12 years$6,896$6,100$5,386$4,747$4,176$2,284
13 years$6,300$5,513$4,812$4,191$3,642$1,875
14 years$5,790$5,011$4,324$3,720$3,193$1,545
15 years$5,348$4,578$3,904$3,317$2,811$1,276
16 years$4,962$4,200$3,539$2,970$2,484$1,058
17 years$4,622$3,868$3,221$2,669$2,203$878
18 years$4,319$3,574$2,940$2,405$1,959$731
19 years$4,049$3,313$2,691$2,173$1,746$609
20 years$3,807$3,078$2,470$1,968$1,559$508
21 years$3,587$2,867$2,272$1,786$1,395$424
22 years$3,388$2,677$2,094$1,624$1,251$354
23 years$3,206$2,503$1,933$1,479$1,123$296
24 years$3,040$2,345$1,788$1,349$1,009$248
25 years$2,888$2,201$1,656$1,232$908$207
26 years$2,747$2,069$1,536$1,127$818$173
27 years$2,617$1,947$1,426$1,031$737$145
28 years$2,496$1,834$1,326$945$665$122
29 years$2,384$1,731$1,234$866$601$102
30 years$2,280$1,634$1,149$795$543$85
31 years$2,182$1,545$1,071$730$491$72
32 years$2,091$1,462$1,000$671$444$60
33 years$2,006$1,384$933$617$402$50
34 years$1,925$1,312$872$568$364$42
35 years$1,850$1,245$815$523$330$35
36 years$1,779$1,181$763$481$299$30
37 years$1,712$1,122$714$444$271$25
38 years$1,648$1,066$669$409$245$21
39 years$1,588$1,014$626$377$222$18
40 years$1,531$965$587$348$202$15
41 years$1,477$918$551$321$183$12
42 years$1,426$874$516$296$166$10
43 years$1,377$833$485$273$151$9
44 years$1,331$794$455$252$137$7
45 years$1,286$757$427$233$124$6
46 years$1,244$723$401$215$113$5
47 years$1,204$689$377$199$102$4
48 years$1,166$658$354$184$93$4
49 years$1,129$629$333$170$84$3
50 years$1,094$600$313$157$77$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,120,000, adding $2,479 every year, while hoping to spend $27,660 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: 44/34/22 Blend
54$1,120,000$1,120,000$1,120,000$1,120,000
55$1,236,797$1,177,437$1,160,077$1,283,233
56$1,333,520$1,205,701$1,169,510$1,344,562
57$1,439,182$1,234,424$1,178,331$1,408,109
58$1,554,666$1,263,597$1,186,492$1,476,431
59$1,680,942$1,293,214$1,193,940$1,549,985
60$1,819,081$1,323,264$1,200,620$1,629,272
61$1,970,260$1,353,737$1,206,474$1,714,848
62$2,135,778$1,384,621$1,211,441$1,807,323
63$2,317,061$1,415,902$1,215,459$1,907,371
64$2,515,684$1,447,564$1,218,459$2,015,733
65$2,733,378$1,479,589$1,220,372$2,133,227
66$2,972,051$1,511,957$1,221,123$2,260,755
67$3,233,805$1,544,648$1,220,635$2,399,310
68$3,520,954$1,577,636$1,218,827$2,549,987
69$3,836,047$1,610,896$1,215,613$2,713,994
70$4,181,892$1,644,398$1,210,905$2,892,661
71$4,561,582$1,678,110$1,204,607$3,087,455
72$4,978,524$1,711,999$1,196,622$3,299,995
73$5,436,472$1,746,025$1,186,847$3,532,063
74$5,939,559$1,780,148$1,175,174$3,785,625
75$6,492,342$1,814,322$1,161,490$4,062,847
76$7,099,837$1,848,501$1,145,676$4,366,119
77$7,767,573$1,882,630$1,127,609$4,698,074
78$8,501,640$1,916,653$1,107,158$5,061,616
79$9,308,748$1,950,509$1,084,189$5,459,945
80$10,196,288$1,984,133$1,058,557$5,896,590
81$11,172,407$2,017,452$1,030,116$6,375,442
82$12,246,076$2,050,391$998,709$6,900,789
83$13,427,184$2,082,868$964,173$7,477,358
84$14,726,622$2,114,795$926,339$8,110,362
85$16,156,394$2,146,076$885,028$8,805,546
86$17,729,724$2,176,612$840,054$9,569,245
87$19,461,184$2,206,293$791,223$10,408,440
88$21,366,827$2,235,004$738,332$11,330,829
89$23,464,345$2,262,621$681,168$12,344,899
90$25,773,230$2,289,011$619,509$13,460,002
91$28,314,960$2,314,033$553,123$14,686,449
92$31,113,202$2,337,537$481,769$16,035,609
93$34,194,033$2,359,361$405,192$17,520,010
94$37,586,188$2,379,333$323,130$19,153,465
95$41,321,331$2,397,272$235,307$20,951,198
96$45,434,351$2,412,982$141,433$22,929,992
97$49,963,693$2,426,257$41,210$25,108,347
98$54,951,723$2,436,876$0$27,506,655
99$60,445,120$2,444,605$0$30,162,826
100$66,495,327$2,449,195$0$33,097,530