Can I retire at age 55 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$102,398$101,486$100,596$99,727$98,879$96,725
2 years$50,692$49,748$48,833$47,946$47,085$44,926
3 years$33,459$32,511$31,598$30,719$29,873$27,775
4 years$24,844$23,899$22,995$22,132$21,306$19,286
5 years$19,677$18,737$17,845$16,999$16,196$14,261
6 years$16,233$15,300$14,422$13,594$12,815$10,966
7 years$13,774$12,849$11,985$11,177$10,422$8,660
8 years$11,930$11,014$10,164$9,376$8,646$6,969
9 years$10,497$9,590$8,754$7,986$7,282$5,689
10 years$9,352$8,453$7,632$6,884$6,204$4,695
11 years$8,415$7,525$6,719$5,991$5,336$3,907
12 years$7,635$6,754$5,963$5,255$4,624$3,274
13 years$6,975$6,104$5,328$4,640$4,032$2,759
14 years$6,410$5,548$4,787$4,118$3,535$2,335
15 years$5,921$5,068$4,322$3,673$3,112$1,983
16 years$5,494$4,650$3,918$3,289$2,750$1,690
17 years$5,117$4,283$3,566$2,955$2,439$1,444
18 years$4,782$3,957$3,255$2,663$2,168$1,236
19 years$4,483$3,668$2,980$2,406$1,933$1,061
20 years$4,214$3,408$2,735$2,179$1,726$911
21 years$3,971$3,174$2,515$1,978$1,545$784
22 years$3,751$2,963$2,318$1,798$1,385$675
23 years$3,550$2,771$2,141$1,638$1,243$582
24 years$3,366$2,597$1,980$1,494$1,117$502
25 years$3,197$2,437$1,834$1,364$1,005$434
26 years$3,041$2,290$1,701$1,247$906$375
27 years$2,897$2,155$1,579$1,142$817$324
28 years$2,764$2,031$1,468$1,046$737$280
29 years$2,640$1,916$1,366$959$665$242
30 years$2,524$1,810$1,272$880$601$210
31 years$2,416$1,711$1,186$809$543$181
32 years$2,315$1,619$1,107$743$492$157
33 years$2,221$1,533$1,033$683$445$136
34 years$2,132$1,453$966$629$403$118
35 years$2,048$1,378$903$579$365$102
36 years$1,969$1,308$844$533$331$89
37 years$1,895$1,242$790$491$300$77
38 years$1,825$1,180$740$453$272$66
39 years$1,758$1,123$693$417$246$58
40 years$1,695$1,068$650$385$223$50
41 years$1,635$1,017$609$355$203$43
42 years$1,579$968$572$328$184$38
43 years$1,525$922$536$303$167$33
44 years$1,473$879$504$279$152$28
45 years$1,424$839$473$258$138$24
46 years$1,378$800$444$238$125$21
47 years$1,333$763$417$220$113$18
48 years$1,290$729$392$203$103$16
49 years$1,250$696$369$188$94$14
50 years$1,211$665$346$174$85$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,240,000, adding $3,948 every year, while hoping to spend $24,742 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: 62/23/15 Blend
54$1,240,000$1,240,000$1,240,000$1,240,000
55$1,370,552$1,304,832$1,285,612$1,450,211
56$1,484,023$1,342,444$1,302,355$1,541,827
57$1,608,239$1,381,069$1,318,829$1,638,635
58$1,744,270$1,420,732$1,335,000$1,743,721
59$1,893,293$1,461,455$1,350,831$1,857,889
60$2,056,607$1,503,264$1,366,281$1,982,026
61$2,235,639$1,546,183$1,381,310$2,117,108
62$2,431,965$1,590,236$1,395,875$2,264,210
63$2,647,317$1,635,450$1,409,928$2,424,514
64$2,883,605$1,681,848$1,423,422$2,599,323
65$3,142,931$1,729,457$1,436,306$2,790,074
66$3,427,613$1,778,303$1,448,524$2,998,346
67$3,740,201$1,828,412$1,460,021$3,225,881
68$4,083,507$1,879,809$1,470,737$3,474,595
69$4,460,626$1,932,522$1,480,609$3,746,603
70$4,874,971$1,986,576$1,489,571$4,044,230
71$5,330,299$2,042,000$1,497,552$4,370,039
72$5,830,750$2,098,818$1,504,481$4,726,855
73$6,380,885$2,157,059$1,510,279$5,117,788
74$6,985,729$2,216,748$1,514,867$5,546,266
75$7,650,818$2,277,913$1,518,159$6,016,064
76$8,382,250$2,340,580$1,520,067$6,531,342
77$9,186,747$2,404,776$1,520,497$7,096,684
78$10,071,713$2,470,527$1,519,350$7,717,141
79$11,045,304$2,537,859$1,516,525$8,398,275
80$12,116,509$2,606,798$1,511,913$9,146,217
81$13,295,231$2,677,370$1,505,400$9,967,724
82$14,592,382$2,749,599$1,496,869$10,870,237
83$16,019,986$2,823,509$1,486,194$11,861,958
84$17,591,289$2,899,126$1,473,247$12,951,924
85$19,320,889$2,976,472$1,457,889$14,150,094
86$21,224,870$3,055,569$1,439,978$15,467,439
87$23,320,954$3,136,440$1,419,365$16,916,051
88$25,628,670$3,219,104$1,395,893$18,509,253
89$28,169,536$3,303,581$1,369,397$20,261,726
90$30,967,263$3,389,891$1,339,705$22,189,650
91$34,047,977$3,478,049$1,306,639$24,310,850
92$37,440,469$3,568,072$1,270,010$26,644,973
93$41,176,463$3,659,973$1,229,620$29,213,666
94$45,290,915$3,753,764$1,185,266$32,040,785
95$49,822,347$3,849,457$1,136,731$35,152,619
96$54,813,205$3,947,059$1,083,790$38,578,135
97$60,310,263$4,046,577$1,026,209$42,349,257
98$66,365,064$4,148,013$963,741$46,501,164
99$73,034,405$4,251,370$896,130$51,072,622
100$80,380,871$4,356,643$823,107$56,106,351