Can I retire at age 55 with 1,340,000?

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$110,656$109,670$108,709$107,770$106,853$103,724
2 years$54,780$53,760$52,771$51,813$50,883$47,755
3 years$36,157$35,133$34,146$33,197$32,282$29,254
4 years$26,848$25,826$24,850$23,916$23,024$20,119
5 years$21,263$20,248$19,285$18,370$17,502$14,729
6 years$17,542$16,534$15,585$14,691$13,849$11,209
7 years$14,885$13,885$12,951$12,078$11,263$8,757
8 years$12,893$11,902$10,983$10,132$9,344$6,970
9 years$11,344$10,363$9,460$8,630$7,869$5,624
10 years$10,106$9,135$8,248$7,439$6,705$4,587
11 years$9,093$8,132$7,261$6,474$5,766$3,771
12 years$8,250$7,299$6,444$5,679$4,997$3,121
13 years$7,538$6,596$5,757$5,014$4,357$2,596
14 years$6,927$5,996$5,173$4,451$3,820$2,169
15 years$6,399$5,477$4,670$3,969$3,363$1,818
16 years$5,937$5,025$4,234$3,554$2,972$1,529
17 years$5,529$4,628$3,853$3,193$2,635$1,288
18 years$5,168$4,276$3,517$2,878$2,343$1,087
19 years$4,845$3,963$3,220$2,600$2,089$920
20 years$4,554$3,683$2,955$2,355$1,866$779
21 years$4,292$3,430$2,718$2,137$1,670$660
22 years$4,053$3,202$2,505$1,943$1,496$560
23 years$3,836$2,995$2,313$1,770$1,343$476
24 years$3,637$2,806$2,139$1,614$1,207$404
25 years$3,455$2,633$1,981$1,474$1,086$344
26 years$3,286$2,475$1,838$1,348$979$293
27 years$3,131$2,329$1,706$1,234$882$249
28 years$2,987$2,195$1,586$1,130$796$212
29 years$2,853$2,071$1,476$1,037$719$181
30 years$2,728$1,955$1,375$951$650$154
31 years$2,611$1,849$1,282$874$587$131
32 years$2,502$1,749$1,196$803$531$112
33 years$2,400$1,656$1,117$738$481$95
34 years$2,304$1,570$1,043$679$435$81
35 years$2,213$1,489$976$625$394$69
36 years$2,128$1,413$913$576$357$59
37 years$2,048$1,342$854$531$324$50
38 years$1,972$1,276$800$489$294$43
39 years$1,900$1,213$749$451$266$37
40 years$1,832$1,154$702$416$241$31
41 years$1,767$1,099$659$384$219$27
42 years$1,706$1,046$618$354$199$23
43 years$1,648$997$580$327$180$19
44 years$1,592$950$544$302$164$17
45 years$1,539$906$511$279$149$14
46 years$1,489$864$480$258$135$12
47 years$1,441$825$451$238$123$10
48 years$1,394$788$424$220$111$9
49 years$1,350$752$398$203$101$7
50 years$1,308$718$374$188$92$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,340,000, adding $3,436 every year, while hoping to spend $25,191 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: 54/30/16 Blend
54$1,340,000$1,340,000$1,340,000$1,340,000
55$1,480,224$1,409,204$1,388,434$1,553,654
56$1,604,404$1,451,452$1,408,144$1,646,385
57$1,740,406$1,494,926$1,427,669$1,744,291
58$1,889,409$1,539,659$1,446,978$1,850,295
59$2,052,712$1,585,686$1,466,035$1,965,177
60$2,231,746$1,633,041$1,484,804$2,089,793
61$2,428,085$1,681,761$1,503,246$2,225,084
62$2,643,465$1,731,883$1,521,320$2,372,088
63$2,879,796$1,783,443$1,538,982$2,531,947
64$3,139,185$1,836,481$1,556,187$2,705,919
65$3,423,949$1,891,036$1,572,887$2,895,387
66$3,736,642$1,947,148$1,589,029$3,101,877
67$4,080,079$2,004,857$1,604,562$3,327,065
68$4,457,360$2,064,207$1,619,426$3,572,802
69$4,871,897$2,125,241$1,633,564$3,841,122
70$5,327,454$2,188,001$1,646,912$4,134,268
71$5,828,175$2,252,533$1,659,404$4,454,709
72$6,378,625$2,318,883$1,670,970$4,805,164
73$6,983,833$2,387,098$1,681,536$5,188,630
74$7,649,343$2,457,224$1,691,026$5,608,407
75$8,381,259$2,529,311$1,699,359$6,068,130
76$9,186,309$2,603,408$1,706,449$6,571,804
77$10,071,903$2,679,567$1,712,206$7,123,841
78$11,046,209$2,757,837$1,716,536$7,729,100
79$12,118,224$2,838,273$1,719,342$8,392,937
80$13,297,861$2,920,926$1,720,518$9,121,251
81$14,596,044$3,005,853$1,719,957$9,920,541
82$16,024,808$3,093,107$1,717,543$10,797,968
83$17,597,416$3,182,746$1,713,158$11,761,421
84$19,328,478$3,274,827$1,706,675$12,819,594
85$21,234,097$3,369,408$1,697,962$13,982,065
86$23,332,014$3,466,548$1,686,883$15,259,387
87$25,641,778$3,566,307$1,673,292$16,663,189
88$28,184,929$3,668,746$1,657,037$18,206,283
89$30,985,204$3,773,926$1,637,960$19,902,787
90$34,068,757$3,881,911$1,615,894$21,768,259
91$37,464,409$3,992,764$1,590,665$23,819,839
92$41,203,918$4,106,549$1,562,092$26,076,417
93$45,322,278$4,223,330$1,529,982$28,558,806
94$49,858,051$4,343,174$1,494,137$31,289,941
95$54,853,730$4,466,146$1,454,348$34,295,095
96$60,356,137$4,592,315$1,410,396$37,602,118
97$66,416,871$4,721,746$1,362,052$41,241,697
98$73,092,788$4,854,508$1,309,077$45,247,648
99$80,446,543$4,990,670$1,251,222$49,657,237
100$88,547,178$5,130,299$1,188,225$54,511,528