Can I retire at age 55 with 1,190,000?

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$98,269$97,394$96,540$95,706$94,892$93,474
2 years$48,648$47,742$46,864$46,013$45,187$43,761
3 years$32,110$31,200$30,324$29,481$28,668$27,280
4 years$23,842$22,935$22,068$21,239$20,447$19,106
5 years$18,883$17,982$17,126$16,314$15,543$14,254
6 years$15,578$14,683$13,840$13,046$12,299$11,062
7 years$13,218$12,331$11,501$10,726$10,002$8,819
8 years$11,449$10,570$9,754$8,998$8,298$7,168
9 years$10,074$9,203$8,401$7,664$6,988$5,911
10 years$8,975$8,112$7,324$6,607$5,954$4,929
11 years$8,076$7,222$6,448$5,750$5,121$4,146
12 years$7,327$6,482$5,723$5,043$4,437$3,513
13 years$6,694$5,858$5,113$4,452$3,870$2,993
14 years$6,152$5,324$4,594$3,952$3,392$2,563
15 years$5,682$4,864$4,148$3,525$2,987$2,203
16 years$5,272$4,463$3,760$3,156$2,640$1,900
17 years$4,910$4,110$3,422$2,836$2,340$1,643
18 years$4,589$3,798$3,124$2,556$2,081$1,424
19 years$4,302$3,520$2,860$2,309$1,855$1,237
20 years$4,044$3,271$2,624$2,091$1,657$1,076
21 years$3,811$3,046$2,414$1,898$1,483$938
22 years$3,600$2,844$2,225$1,726$1,329$818
23 years$3,407$2,660$2,054$1,572$1,193$715
24 years$3,230$2,492$1,900$1,433$1,072$625
25 years$3,068$2,339$1,760$1,309$965$547
26 years$2,919$2,198$1,632$1,197$869$479
27 years$2,780$2,069$1,515$1,096$784$420
28 years$2,652$1,949$1,409$1,004$707$368
29 years$2,533$1,839$1,311$921$638$323
30 years$2,422$1,737$1,221$845$577$283
31 years$2,319$1,642$1,138$776$522$249
32 years$2,222$1,553$1,062$713$472$219
33 years$2,131$1,471$992$656$427$192
34 years$2,046$1,394$927$603$387$169
35 years$1,966$1,322$866$555$350$148
36 years$1,890$1,255$810$512$317$130
37 years$1,819$1,192$759$471$288$115
38 years$1,751$1,133$710$434$261$101
39 years$1,687$1,077$666$401$236$89
40 years$1,627$1,025$624$369$214$78
41 years$1,570$976$585$341$195$69
42 years$1,515$929$549$315$176$60
43 years$1,463$885$515$290$160$53
44 years$1,414$844$483$268$145$47
45 years$1,367$805$454$248$132$41
46 years$1,322$768$426$229$120$36
47 years$1,279$733$400$211$109$32
48 years$1,238$699$376$195$99$28
49 years$1,199$668$354$180$90$25
50 years$1,162$638$333$167$82$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,190,000, adding $2,617 every year, while hoping to spend $47,597 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: 50/35/15 Blend
54$1,190,000$1,190,000$1,190,000$1,190,000
55$1,314,079$1,251,009$1,232,564$1,374,247
56$1,397,473$1,261,666$1,223,213$1,426,562
57$1,487,777$1,271,250$1,211,952$1,478,210
58$1,585,646$1,279,657$1,198,669$1,533,284
59$1,691,801$1,286,780$1,183,243$1,592,123
60$1,807,034$1,292,500$1,165,550$1,655,102
61$1,932,213$1,296,695$1,145,459$1,722,633
62$2,068,299$1,299,232$1,122,831$1,795,176
63$2,216,343$1,299,973$1,097,524$1,873,238
64$2,377,506$1,298,767$1,069,387$1,957,379
65$2,553,063$1,295,458$1,038,263$2,048,221
66$2,744,418$1,289,878$1,003,987$2,146,449
67$2,953,116$1,281,850$966,388$2,252,825
68$3,180,857$1,271,184$925,285$2,368,186
69$3,429,513$1,257,681$880,491$2,493,464
70$3,701,145$1,241,129$831,809$2,629,683
71$3,998,021$1,221,303$779,034$2,777,981
72$4,322,638$1,197,965$721,950$2,939,613
73$4,677,745$1,170,864$660,334$3,115,967
74$5,066,371$1,139,732$593,951$3,308,577
75$5,491,849$1,104,287$522,556$3,519,137
76$5,957,850$1,064,229$445,894$3,749,522
77$6,468,416$1,019,242$363,697$4,001,802
78$7,028,001$968,991$275,687$4,278,263
79$7,641,507$913,122$181,572$4,581,434
80$8,314,335$851,259$81,050$4,914,104
81$9,052,433$783,007$0$5,279,357
82$9,862,354$707,947$0$5,684,796
83$10,751,314$625,636$0$6,144,100
84$11,727,262$535,607$0$6,648,491
85$12,798,955$437,364$0$7,202,613
86$13,976,040$330,386$0$7,811,589
87$15,269,142$214,121$0$8,481,070
88$16,689,969$87,987$0$9,217,294
89$18,251,416$0$0$10,027,140
90$19,967,691$0$0$10,936,927
91$21,854,447$0$0$11,974,474
92$23,928,929$0$0$13,115,393
93$26,210,136$0$0$14,370,150
94$28,719,001$0$0$15,750,278
95$31,478,586$0$0$17,268,482
96$34,514,301$0$0$18,938,760
97$37,854,144$0$0$20,776,537
98$41,528,961$0$0$22,798,806
99$45,572,741$0$0$25,024,294
100$50,022,933$0$0$27,473,632