Can I retire at age 55 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$100,746$99,849$98,974$98,119$97,285$94,020
2 years$49,874$48,946$48,045$47,173$46,326$43,069
3 years$32,919$31,987$31,089$30,224$29,391$26,244
4 years$24,443$23,513$22,625$21,775$20,962$17,949
5 years$19,359$18,435$17,558$16,725$15,935$13,064
6 years$15,971$15,053$14,189$13,375$12,609$9,883
7 years$13,552$12,642$11,791$10,996$10,254$7,672
8 years$11,738$10,836$10,000$9,225$8,507$6,067
9 years$10,328$9,435$8,613$7,857$7,164$4,863
10 years$9,201$8,317$7,509$6,773$6,104$3,939
11 years$8,279$7,404$6,611$5,895$5,250$3,215
12 years$7,512$6,645$5,867$5,170$4,549$2,642
13 years$6,863$6,005$5,242$4,565$3,967$2,181
14 years$6,307$5,459$4,710$4,052$3,478$1,808
15 years$5,826$4,987$4,252$3,614$3,062$1,504
16 years$5,405$4,575$3,855$3,236$2,706$1,255
17 years$5,034$4,213$3,508$2,907$2,399$1,049
18 years$4,705$3,893$3,202$2,620$2,133$878
19 years$4,411$3,608$2,932$2,367$1,902$736
20 years$4,146$3,353$2,691$2,144$1,699$618
21 years$3,907$3,123$2,475$1,946$1,520$520
22 years$3,690$2,915$2,281$1,769$1,362$437
23 years$3,493$2,727$2,106$1,611$1,223$368
24 years$3,312$2,555$1,948$1,470$1,099$310
25 years$3,145$2,398$1,804$1,342$989$262
26 years$2,992$2,253$1,673$1,227$891$221
27 years$2,850$2,121$1,554$1,123$803$186
28 years$2,719$1,998$1,444$1,029$725$157
29 years$2,597$1,885$1,344$944$655$133
30 years$2,483$1,780$1,252$866$591$112
31 years$2,377$1,683$1,167$795$535$95
32 years$2,278$1,592$1,089$731$484$80
33 years$2,185$1,508$1,017$672$438$67
34 years$2,097$1,429$950$619$396$57
35 years$2,015$1,356$888$569$359$48
36 years$1,938$1,287$831$524$325$41
37 years$1,864$1,222$778$483$295$34
38 years$1,795$1,161$728$445$267$29
39 years$1,730$1,104$682$411$242$25
40 years$1,668$1,051$640$379$220$21
41 years$1,609$1,000$600$349$199$18
42 years$1,553$953$563$323$181$15
43 years$1,500$908$528$298$164$13
44 years$1,450$865$495$275$149$11
45 years$1,401$825$465$254$135$9
46 years$1,355$787$437$234$123$8
47 years$1,312$751$411$217$112$6
48 years$1,270$717$386$200$101$5
49 years$1,230$685$363$185$92$5
50 years$1,191$654$341$171$84$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,220,000, adding $3,536 every year, while hoping to spend $49,957 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: 53/42/5 Blend
54$1,220,000$1,220,000$1,220,000$1,220,000
55$1,348,087$1,283,427$1,264,517$1,417,882
56$1,432,438$1,293,161$1,253,725$1,475,214
57$1,523,719$1,301,698$1,240,896$1,531,753
58$1,622,583$1,308,926$1,225,911$1,592,037
59$1,729,750$1,314,727$1,208,642$1,656,428
60$1,846,010$1,318,974$1,188,958$1,725,326
61$1,972,233$1,321,534$1,166,718$1,799,171
62$2,109,375$1,322,264$1,141,778$1,878,452
63$2,258,490$1,321,013$1,113,985$1,963,711
64$2,420,734$1,317,620$1,083,182$2,055,543
65$2,597,380$1,311,916$1,049,200$2,154,610
66$2,789,832$1,303,718$1,011,867$2,261,641
67$2,999,630$1,292,835$971,000$2,377,443
68$3,228,472$1,279,065$926,409$2,502,909
69$3,478,228$1,262,190$877,894$2,639,025
70$3,750,952$1,241,982$825,249$2,786,880
71$4,048,910$1,218,200$768,255$2,947,680
72$4,374,593$1,190,586$706,686$3,122,754
73$4,730,745$1,158,869$640,304$3,313,574
74$5,120,389$1,122,761$568,862$3,521,765
75$5,546,850$1,081,957$492,100$3,749,124
76$6,013,791$1,036,136$409,748$3,997,633
77$6,525,248$984,957$321,525$4,269,484
78$7,085,661$928,058$227,134$4,567,098
79$7,699,924$865,058$126,268$4,893,148
80$8,373,425$795,555$18,607$5,250,589
81$9,112,099$719,121$0$5,642,680
82$9,922,481$635,307$0$6,078,161
83$10,811,773$543,635$0$6,557,265
84$11,787,904$443,603$0$7,083,407
85$12,859,610$334,680$0$7,661,457
86$14,036,515$216,303$0$8,296,787
87$15,329,218$87,881$0$8,995,327
88$16,749,398$0$0$9,763,623
89$18,309,919$0$0$10,632,566
90$20,024,954$0$0$11,632,312
91$21,910,116$0$0$12,731,360
92$23,982,607$0$0$13,939,758
93$26,261,379$0$0$15,268,570
94$28,767,310$0$0$16,729,990
95$31,523,406$0$0$18,337,452
96$34,555,011$0$0$20,105,757
97$37,890,050$0$0$22,051,212
98$41,559,292$0$0$24,191,786
99$45,596,637$0$0$26,547,276
100$50,039,438$0$0$29,139,495