Can I retire at age 55 with 1,320,000?

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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$109,004$108,033$107,086$106,161$105,259$101,202
2 years$53,963$52,958$51,984$51,039$50,123$46,085
3 years$35,618$34,608$33,637$32,701$31,800$27,907
4 years$26,447$25,441$24,479$23,559$22,680$18,962
5 years$20,946$19,946$18,997$18,096$17,241$13,707
6 years$17,280$16,287$15,352$14,471$13,642$10,295
7 years$14,662$13,678$12,758$11,898$11,095$7,933
8 years$12,700$11,725$10,820$9,981$9,204$6,225
9 years$11,175$10,208$9,319$8,501$7,751$4,950
10 years$9,955$8,998$8,124$7,328$6,604$3,976
11 years$8,958$8,011$7,153$6,378$5,680$3,219
12 years$8,127$7,190$6,348$5,594$4,922$2,622
13 years$7,425$6,498$5,671$4,939$4,292$2,146
14 years$6,824$5,906$5,096$4,384$3,763$1,763
15 years$6,303$5,395$4,601$3,910$3,313$1,453
16 years$5,848$4,950$4,171$3,501$2,928$1,200
17 years$5,447$4,559$3,796$3,146$2,596$994
18 years$5,091$4,213$3,465$2,835$2,308$824
19 years$4,772$3,904$3,172$2,561$2,057$684
20 years$4,486$3,628$2,911$2,320$1,838$569
21 years$4,228$3,379$2,678$2,105$1,645$474
22 years$3,993$3,154$2,468$1,914$1,474$394
23 years$3,779$2,950$2,279$1,743$1,323$329
24 years$3,583$2,764$2,107$1,590$1,189$274
25 years$3,403$2,594$1,952$1,452$1,070$229
26 years$3,237$2,438$1,810$1,328$964$191
27 years$3,084$2,294$1,681$1,215$869$159
28 years$2,942$2,162$1,563$1,114$784$133
29 years$2,810$2,040$1,454$1,021$708$111
30 years$2,687$1,926$1,355$937$640$93
31 years$2,572$1,821$1,263$861$579$78
32 years$2,465$1,723$1,178$791$523$65
33 years$2,364$1,632$1,100$727$474$54
34 years$2,269$1,546$1,028$669$429$45
35 years$2,180$1,467$961$616$388$38
36 years$2,096$1,392$899$567$352$32
37 years$2,017$1,322$841$523$319$26
38 years$1,943$1,257$788$482$289$22
39 years$1,872$1,195$738$444$262$18
40 years$1,805$1,137$692$410$238$15
41 years$1,741$1,082$649$378$216$13
42 years$1,681$1,031$609$349$196$11
43 years$1,623$982$571$322$178$9
44 years$1,568$936$536$297$161$8
45 years$1,516$893$503$275$146$6
46 years$1,466$852$473$254$133$5
47 years$1,419$813$444$234$121$4
48 years$1,374$776$417$217$110$4
49 years$1,330$741$392$200$100$3
50 years$1,289$708$369$185$90$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,320,000, adding $4,277 every year, while hoping to spend $22,981 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: 57/32/11 Blend
54$1,320,000$1,320,000$1,320,000$1,320,000
55$1,459,052$1,389,092$1,368,632$1,538,030
56$1,583,423$1,432,706$1,390,029$1,635,463
57$1,719,711$1,477,686$1,411,373$1,738,656
58$1,869,105$1,524,077$1,432,638$1,850,547
59$2,032,918$1,571,921$1,453,796$1,971,974
60$2,212,594$1,621,264$1,474,817$2,103,855
61$2,409,726$1,672,152$1,495,670$2,247,201
62$2,626,065$1,724,635$1,516,322$2,403,128
63$2,863,544$1,778,762$1,536,739$2,572,860
64$3,124,288$1,834,584$1,556,882$2,757,746
65$3,410,641$1,892,154$1,576,713$2,959,272
66$3,725,183$1,951,527$1,596,191$3,179,073
67$4,070,759$2,012,759$1,615,270$3,418,947
68$4,450,500$2,075,908$1,633,905$3,680,878
69$4,867,858$2,141,034$1,652,047$3,967,048
70$5,326,633$2,208,198$1,669,645$4,279,858
71$5,831,014$2,277,464$1,686,642$4,621,956
72$6,385,615$2,348,898$1,702,983$4,996,255
73$6,995,521$2,422,567$1,718,606$5,405,964
74$7,666,332$2,498,541$1,733,447$5,854,619
75$8,404,220$2,576,891$1,747,439$6,346,111
76$9,215,983$2,657,692$1,760,512$6,884,730
77$10,109,115$2,741,020$1,772,590$7,475,197
78$11,091,869$2,826,954$1,783,596$8,122,716
79$12,173,339$2,915,575$1,793,446$8,833,017
80$13,363,548$3,006,967$1,802,055$9,612,414
81$14,673,537$3,101,215$1,809,331$10,467,860
82$16,115,472$3,198,409$1,815,178$11,407,018
83$17,702,760$3,298,640$1,819,496$12,438,327
84$19,450,171$3,402,003$1,822,179$13,571,086
85$21,373,983$3,508,596$1,823,116$14,815,539
86$23,492,130$3,618,518$1,822,192$16,182,972
87$25,824,375$3,731,874$1,819,283$17,685,820
88$28,392,495$3,848,769$1,814,263$19,337,784
89$31,220,486$3,969,314$1,806,996$21,153,957
90$34,334,787$4,093,623$1,797,343$23,150,972
91$37,764,537$4,221,812$1,785,155$25,347,151
92$41,541,841$4,354,002$1,770,279$27,762,685
93$45,702,077$4,490,316$1,752,551$30,419,821
94$50,284,230$4,630,883$1,731,804$33,343,070
95$55,331,261$4,775,836$1,707,858$36,559,441
96$60,890,507$4,925,309$1,680,528$40,098,694
97$67,014,132$5,079,443$1,649,620$43,993,621
98$73,759,621$5,238,383$1,614,930$48,280,354
99$81,190,316$5,402,277$1,576,243$52,998,708
100$89,376,019$5,571,279$1,533,338$58,192,555