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

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$100,746$99,849$98,974$98,119$97,285$96,550
2 years$49,874$48,946$48,045$47,173$46,326$45,585
3 years$32,919$31,987$31,089$30,224$29,391$28,668
4 years$24,443$23,513$22,625$21,775$20,962$20,261
5 years$19,359$18,435$17,558$16,725$15,935$15,258
6 years$15,971$15,053$14,189$13,375$12,609$11,958
7 years$13,552$12,642$11,791$10,996$10,254$9,629
8 years$11,738$10,836$10,000$9,225$8,507$7,907
9 years$10,328$9,435$8,613$7,857$7,164$6,590
10 years$9,201$8,317$7,509$6,773$6,104$5,555
11 years$8,279$7,404$6,611$5,895$5,250$4,726
12 years$7,512$6,645$5,867$5,170$4,549$4,050
13 years$6,863$6,005$5,242$4,565$3,967$3,491
14 years$6,307$5,459$4,710$4,052$3,478$3,025
15 years$5,826$4,987$4,252$3,614$3,062$2,632
16 years$5,405$4,575$3,855$3,236$2,706$2,298
17 years$5,034$4,213$3,508$2,907$2,399$2,013
18 years$4,705$3,893$3,202$2,620$2,133$1,767
19 years$4,411$3,608$2,932$2,367$1,902$1,555
20 years$4,146$3,353$2,691$2,144$1,699$1,371
21 years$3,907$3,123$2,475$1,946$1,520$1,211
22 years$3,690$2,915$2,281$1,769$1,362$1,071
23 years$3,493$2,727$2,106$1,611$1,223$949
24 years$3,312$2,555$1,948$1,470$1,099$841
25 years$3,145$2,398$1,804$1,342$989$747
26 years$2,992$2,253$1,673$1,227$891$663
27 years$2,850$2,121$1,554$1,123$803$590
28 years$2,719$1,998$1,444$1,029$725$525
29 years$2,597$1,885$1,344$944$655$467
30 years$2,483$1,780$1,252$866$591$416
31 years$2,377$1,683$1,167$795$535$371
32 years$2,278$1,592$1,089$731$484$330
33 years$2,185$1,508$1,017$672$438$295
34 years$2,097$1,429$950$619$396$263
35 years$2,015$1,356$888$569$359$234
36 years$1,938$1,287$831$524$325$209
37 years$1,864$1,222$778$483$295$187
38 years$1,795$1,161$728$445$267$167
39 years$1,730$1,104$682$411$242$149
40 years$1,668$1,051$640$379$220$133
41 years$1,609$1,000$600$349$199$119
42 years$1,553$953$563$323$181$106
43 years$1,500$908$528$298$164$95
44 years$1,450$865$495$275$149$85
45 years$1,401$825$465$254$135$76
46 years$1,355$787$437$234$123$68
47 years$1,312$751$411$217$112$61
48 years$1,270$717$386$200$101$54
49 years$1,230$685$363$185$92$48
50 years$1,191$654$341$171$84$43

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 $2,119 every year, while hoping to spend $23,185 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: 35/39/26 Blend
54$1,220,000$1,220,000$1,220,000$1,220,000
55$1,346,626$1,281,966$1,263,056$1,383,115
56$1,459,313$1,320,113$1,280,699$1,448,632
57$1,582,717$1,359,353$1,298,157$1,517,023
58$1,717,907$1,399,714$1,315,398$1,590,362
59$1,866,059$1,441,226$1,332,390$1,669,105
60$2,028,471$1,483,919$1,349,098$1,753,757
61$2,206,568$1,527,825$1,365,486$1,844,871
62$2,401,924$1,572,974$1,381,516$1,943,056
63$2,616,270$1,619,400$1,397,147$2,048,982
64$2,851,514$1,667,135$1,412,336$2,163,388
65$3,109,758$1,716,214$1,427,038$2,287,084
66$3,393,314$1,766,669$1,441,205$2,420,966
67$3,704,734$1,818,538$1,454,787$2,566,018
68$4,046,826$1,871,855$1,467,731$2,723,323
69$4,422,683$1,926,657$1,479,982$2,894,075
70$4,835,715$1,982,982$1,491,480$3,079,588
71$5,289,677$2,040,867$1,502,163$3,281,309
72$5,788,706$2,100,351$1,511,967$3,500,833
73$6,337,359$2,161,473$1,520,823$3,739,915
74$6,940,658$2,224,274$1,528,659$4,000,489
75$7,604,136$2,288,794$1,535,400$4,284,686
76$8,333,888$2,355,075$1,540,966$4,594,852
77$9,136,629$2,423,159$1,545,273$4,933,572
78$10,019,760$2,493,088$1,548,234$5,303,695
79$10,991,433$2,564,906$1,549,757$5,708,357
80$12,060,630$2,638,658$1,549,745$6,151,017
81$13,237,250$2,714,388$1,548,097$6,635,482
82$14,532,198$2,792,141$1,544,707$7,165,949
83$15,957,490$2,871,964$1,539,462$7,747,042
84$17,526,366$2,953,903$1,532,247$8,383,855
85$19,253,416$3,038,005$1,522,938$9,082,001
86$21,154,716$3,124,318$1,511,407$9,847,667
87$23,247,977$3,212,890$1,497,520$10,687,667
88$25,552,719$3,303,770$1,481,135$11,609,512
89$28,090,448$3,397,006$1,462,104$12,621,477
90$30,884,862$3,492,648$1,440,274$13,732,683
91$33,962,077$3,590,747$1,415,482$14,953,177
92$37,350,867$3,691,351$1,387,558$16,294,035
93$41,082,940$3,794,512$1,356,326$17,767,458
94$45,193,236$3,900,280$1,321,600$19,386,894
95$49,720,258$4,008,705$1,283,185$21,167,162
96$54,706,431$4,119,838$1,240,878$23,124,591
97$60,198,506$4,233,730$1,194,467$25,277,179
98$66,248,003$4,350,432$1,143,731$27,644,756
99$72,911,689$4,469,993$1,088,436$30,249,177
100$80,252,122$4,592,464$1,028,339$33,114,525