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%12.4%
1 years$110,656$109,670$108,709$107,770$106,853$105,782
2 years$54,780$53,760$52,771$51,813$50,883$49,803
3 years$36,157$35,133$34,146$33,197$32,282$31,228
4 years$26,848$25,826$24,850$23,916$23,024$22,004
5 years$21,263$20,248$19,285$18,370$17,502$16,519
6 years$17,542$16,534$15,585$14,691$13,849$12,904
7 years$14,885$13,885$12,951$12,078$11,263$10,356
8 years$12,893$11,902$10,983$10,132$9,344$8,476
9 years$11,344$10,363$9,460$8,630$7,869$7,039
10 years$10,106$9,135$8,248$7,439$6,705$5,912
11 years$9,093$8,132$7,261$6,474$5,766$5,011
12 years$8,250$7,299$6,444$5,679$4,997$4,278
13 years$7,538$6,596$5,757$5,014$4,357$3,674
14 years$6,927$5,996$5,173$4,451$3,820$3,170
15 years$6,399$5,477$4,670$3,969$3,363$2,747
16 years$5,937$5,025$4,234$3,554$2,972$2,389
17 years$5,529$4,628$3,853$3,193$2,635$2,084
18 years$5,168$4,276$3,517$2,878$2,343$1,822
19 years$4,845$3,963$3,220$2,600$2,089$1,596
20 years$4,554$3,683$2,955$2,355$1,866$1,401
21 years$4,292$3,430$2,718$2,137$1,670$1,232
22 years$4,053$3,202$2,505$1,943$1,496$1,085
23 years$3,836$2,995$2,313$1,770$1,343$957
24 years$3,637$2,806$2,139$1,614$1,207$844
25 years$3,455$2,633$1,981$1,474$1,086$746
26 years$3,286$2,475$1,838$1,348$979$659
27 years$3,131$2,329$1,706$1,234$882$584
28 years$2,987$2,195$1,586$1,130$796$517
29 years$2,853$2,071$1,476$1,037$719$458
30 years$2,728$1,955$1,375$951$650$406
31 years$2,611$1,849$1,282$874$587$360
32 years$2,502$1,749$1,196$803$531$319
33 years$2,400$1,656$1,117$738$481$283
34 years$2,304$1,570$1,043$679$435$251
35 years$2,213$1,489$976$625$394$223
36 years$2,128$1,413$913$576$357$198
37 years$2,048$1,342$854$531$324$176
38 years$1,972$1,276$800$489$294$156
39 years$1,900$1,213$749$451$266$139
40 years$1,832$1,154$702$416$241$123
41 years$1,767$1,099$659$384$219$110
42 years$1,706$1,046$618$354$199$97
43 years$1,648$997$580$327$180$87
44 years$1,592$950$544$302$164$77
45 years$1,539$906$511$279$149$68
46 years$1,489$864$480$258$135$61
47 years$1,441$825$451$238$123$54
48 years$1,394$788$424$220$111$48
49 years$1,350$752$398$203$101$43
50 years$1,308$718$374$188$92$38

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 $2,854 every year, while hoping to spend $38,555 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: 36/41/23 Blend
54$1,340,000$1,340,000$1,340,000$1,340,000
55$1,479,624$1,408,604$1,387,834$1,522,528
56$1,589,523$1,436,603$1,393,304$1,582,306
57$1,709,340$1,464,682$1,397,665$1,643,037
58$1,840,046$1,492,805$1,400,840$1,707,826
59$1,982,708$1,520,930$1,402,746$1,777,061
60$2,138,504$1,549,015$1,403,297$1,851,170
61$2,308,728$1,577,013$1,402,405$1,930,625
62$2,494,806$1,604,875$1,399,973$2,015,948
63$2,698,308$1,632,545$1,395,903$2,107,715
64$2,920,961$1,659,965$1,390,092$2,206,562
65$3,164,668$1,687,073$1,382,429$2,313,190
66$3,431,526$1,713,801$1,372,802$2,428,375
67$3,723,841$1,740,077$1,361,090$2,552,972
68$4,044,154$1,765,822$1,347,169$2,687,928
69$4,395,265$1,790,955$1,330,906$2,834,285
70$4,780,255$1,815,385$1,312,164$2,993,195
71$5,202,520$1,839,017$1,290,800$3,165,930
72$5,665,797$1,861,749$1,266,662$3,353,894
73$6,174,207$1,883,473$1,239,594$3,558,636
74$6,732,285$1,904,072$1,209,429$3,781,867
75$7,345,028$1,923,422$1,175,996$4,025,475
76$8,017,942$1,941,391$1,139,113$4,291,545
77$8,757,091$1,957,838$1,098,591$4,582,376
78$9,569,154$1,972,612$1,054,234$4,900,508
79$10,461,491$1,985,553$1,005,834$5,248,742
80$11,442,210$1,996,492$953,176$5,630,170
81$12,520,241$2,005,246$896,034$6,048,205
82$13,705,426$2,011,623$834,171$6,506,610
83$15,008,606$2,015,419$767,342$7,009,541
84$16,441,725$2,016,415$695,289$7,561,582
85$18,017,942$2,014,381$617,743$8,167,789
86$19,751,757$2,009,071$534,422$8,833,743
87$21,659,145$2,000,224$445,034$9,565,601
88$23,757,706$1,987,563$349,271$10,370,152
89$26,066,835$1,970,797$246,814$11,254,888
90$28,607,899$1,949,612$137,329$12,228,075
91$31,404,442$1,923,681$20,467$13,298,827
92$34,482,406$1,892,653$0$14,477,200
93$37,870,376$1,856,157$0$15,799,868
94$41,599,849$1,813,803$0$17,260,503
95$45,705,528$1,765,174$0$18,867,666
96$50,225,655$1,709,831$0$20,636,338
97$55,202,368$1,647,308$0$22,583,036
98$60,682,096$1,577,113$0$24,725,965
99$66,716,003$1,498,725$0$27,085,199
100$73,360,465$1,411,592$0$29,682,866