Can I retire at age 55 with 1,420,000?

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 $1,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$117,262$116,218$115,199$114,204$113,233$109,346
2 years$58,051$56,969$55,922$54,906$53,920$50,044
3 years$38,316$37,230$36,185$35,179$34,209$30,465
4 years$28,451$27,368$26,333$25,344$24,398$20,815
5 years$22,533$21,457$20,436$19,467$18,547$15,134
6 years$18,589$17,521$16,515$15,568$14,676$11,436
7 years$15,773$14,714$13,724$12,799$11,935$8,868
8 years$13,662$12,613$11,639$10,737$9,902$7,004
9 years$12,021$10,982$10,025$9,145$8,339$5,607
10 years$10,709$9,680$8,740$7,883$7,105$4,536
11 years$9,636$8,617$7,694$6,861$6,110$3,698
12 years$8,743$7,735$6,829$6,018$5,295$3,034
13 years$7,988$6,990$6,101$5,313$4,617$2,502
14 years$7,341$6,354$5,482$4,716$4,048$2,071
15 years$6,781$5,804$4,949$4,206$3,564$1,720
16 years$6,291$5,325$4,487$3,766$3,150$1,433
17 years$5,860$4,904$4,083$3,384$2,793$1,196
18 years$5,476$4,532$3,727$3,049$2,483$1,000
19 years$5,134$4,200$3,412$2,755$2,213$837
20 years$4,826$3,903$3,132$2,496$1,977$702
21 years$4,548$3,635$2,880$2,265$1,769$589
22 years$4,295$3,393$2,655$2,059$1,586$495
23 years$4,065$3,174$2,451$1,875$1,424$416
24 years$3,855$2,974$2,267$1,711$1,280$350
25 years$3,661$2,791$2,100$1,562$1,151$295
26 years$3,483$2,623$1,947$1,428$1,037$248
27 years$3,318$2,468$1,808$1,307$935$209
28 years$3,165$2,326$1,681$1,198$844$176
29 years$3,023$2,194$1,564$1,098$762$148
30 years$2,891$2,072$1,457$1,008$688$125
31 years$2,767$1,959$1,358$926$622$105
32 years$2,651$1,854$1,267$851$563$89
33 years$2,543$1,755$1,183$782$509$75
34 years$2,441$1,664$1,106$720$461$63
35 years$2,346$1,578$1,034$663$418$53
36 years$2,255$1,498$967$610$379$45
37 years$2,170$1,422$905$562$343$38
38 years$2,090$1,352$848$518$311$32
39 years$2,014$1,285$794$478$282$27
40 years$1,941$1,223$744$441$256$23
41 years$1,873$1,164$698$407$232$19
42 years$1,808$1,109$655$375$211$16
43 years$1,746$1,056$614$347$191$14
44 years$1,687$1,007$577$320$173$12
45 years$1,631$960$541$295$158$10
46 years$1,578$916$509$273$143$8
47 years$1,527$874$478$252$130$7
48 years$1,478$835$449$233$118$6
49 years$1,431$797$422$215$107$5
50 years$1,386$761$397$199$97$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,420,000, adding $5,018 every year, while hoping to spend $28,284 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: 58/23/19 Blend
54$1,420,000$1,420,000$1,420,000$1,420,000
55$1,570,016$1,494,756$1,472,746$1,652,930
56$1,700,064$1,537,905$1,491,989$1,752,949
57$1,842,428$1,582,221$1,510,929$1,858,426
58$1,998,336$1,627,730$1,529,525$1,972,783
59$2,169,138$1,674,460$1,547,736$2,096,881
60$2,356,322$1,722,440$1,565,516$2,231,668
61$2,561,524$1,771,697$1,582,819$2,378,190
62$2,786,551$1,822,262$1,599,595$2,537,597
63$3,033,389$1,874,162$1,615,790$2,711,156
64$3,304,226$1,927,427$1,631,351$2,900,261
65$3,601,473$1,982,088$1,646,218$3,106,451
66$3,927,787$2,038,173$1,660,329$3,331,416
67$4,286,092$2,095,715$1,673,621$3,577,023
68$4,679,611$2,154,742$1,686,025$3,845,324
69$5,111,893$2,215,286$1,697,469$4,138,582
70$5,586,849$2,277,379$1,707,877$4,459,289
71$6,108,788$2,341,050$1,717,171$4,810,190
72$6,682,454$2,406,332$1,725,267$5,194,311
73$7,313,078$2,473,256$1,732,076$5,614,984
74$8,006,419$2,541,852$1,737,508$6,075,880
75$8,768,825$2,612,154$1,741,465$6,581,045
76$9,607,287$2,684,191$1,743,846$7,134,936
77$10,529,509$2,757,996$1,744,544$7,742,463
78$11,543,980$2,833,598$1,743,447$8,409,037
79$12,660,051$2,911,030$1,740,438$9,140,620
80$13,888,027$2,990,321$1,735,394$9,943,782
81$15,239,261$3,071,502$1,728,185$10,825,761
82$16,726,263$3,154,603$1,718,676$11,794,533
83$18,362,816$3,239,652$1,706,725$12,858,889
84$20,164,107$3,326,679$1,692,184$14,028,511
85$22,146,870$3,415,711$1,674,897$15,314,074
86$24,329,545$3,506,775$1,654,701$16,727,337
87$26,732,450$3,599,898$1,631,424$18,281,259
88$29,377,971$3,695,104$1,604,888$19,990,121
89$32,290,778$3,792,419$1,574,906$21,869,658
90$35,498,054$3,891,863$1,541,281$23,937,213
91$39,029,750$3,993,459$1,503,809$26,211,895
92$42,918,873$4,097,227$1,462,275$28,714,762
93$47,201,790$4,203,184$1,416,454$31,469,021
94$51,918,580$4,311,346$1,366,111$34,500,244
95$57,113,401$4,421,728$1,311,002$37,836,613
96$62,834,916$4,534,342$1,250,869$41,509,183
97$69,136,748$4,649,195$1,185,444$45,552,177
98$76,077,986$4,766,296$1,114,446$50,003,310
99$83,723,744$4,885,647$1,037,583$54,904,143
100$92,145,771$5,007,249$954,547$60,300,476