Can I retire at age 55 with 1,600,000?

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 $1,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$132,127$130,950$129,801$128,681$127,586$123,800
2 years$65,409$64,191$63,010$61,866$60,755$56,972
3 years$43,173$41,950$40,772$39,638$38,546$34,884
4 years$32,057$30,837$29,671$28,557$27,491$23,979
5 years$25,389$24,177$23,026$21,934$20,898$17,545
6 years$20,945$19,742$18,609$17,541$16,536$13,345
7 years$17,773$16,579$15,464$14,422$13,448$10,419
8 years$15,394$14,212$13,115$12,098$11,157$8,288
9 years$13,545$12,374$11,296$10,305$9,396$6,684
10 years$12,067$10,907$9,848$8,883$8,005$5,448
11 years$10,858$9,710$8,670$7,731$6,885$4,476
12 years$9,851$8,715$7,694$6,781$5,966$3,702
13 years$9,000$7,876$6,874$5,986$5,203$3,078
14 years$8,271$7,159$6,177$5,314$4,561$2,569
15 years$7,640$6,540$5,577$4,739$4,016$2,152
16 years$7,089$6,000$5,056$4,243$3,549$1,808
17 years$6,602$5,526$4,601$3,813$3,147$1,522
18 years$6,171$5,106$4,200$3,436$2,798$1,284
19 years$5,785$4,732$3,845$3,105$2,494$1,085
20 years$5,438$4,398$3,529$2,812$2,228$918
21 years$5,124$4,096$3,246$2,552$1,993$778
22 years$4,840$3,824$2,991$2,320$1,787$660
23 years$4,581$3,576$2,762$2,113$1,604$560
24 years$4,343$3,351$2,554$1,927$1,442$475
25 years$4,125$3,144$2,366$1,760$1,297$404
26 years$3,924$2,955$2,194$1,609$1,169$344
27 years$3,738$2,781$2,038$1,473$1,054$292
28 years$3,566$2,621$1,894$1,350$951$249
29 years$3,406$2,472$1,763$1,238$858$212
30 years$3,257$2,335$1,642$1,136$776$180
31 years$3,118$2,207$1,531$1,043$701$153
32 years$2,987$2,088$1,428$959$634$131
33 years$2,865$1,978$1,333$882$574$111
34 years$2,751$1,875$1,246$811$520$95
35 years$2,643$1,778$1,165$747$471$81
36 years$2,541$1,688$1,090$688$427$69
37 years$2,445$1,603$1,020$634$387$59
38 years$2,355$1,523$955$584$350$50
39 years$2,269$1,448$895$539$318$43
40 years$2,187$1,378$839$497$288$36
41 years$2,110$1,312$786$458$262$31
42 years$2,037$1,249$738$423$237$26
43 years$1,967$1,190$692$390$215$22
44 years$1,901$1,135$650$361$195$19
45 years$1,838$1,082$610$333$177$16
46 years$1,778$1,032$573$308$161$14
47 years$1,720$985$538$284$146$12
48 years$1,665$940$506$263$133$10
49 years$1,612$898$476$243$121$9
50 years$1,562$858$447$224$110$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,600,000, adding $6,850 every year, while hoping to spend $42,266 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: 57/22/21 Blend
54$1,600,000$1,600,000$1,600,000$1,600,000
55$1,770,266$1,685,466$1,660,666$1,860,832
56$1,905,862$1,723,083$1,671,327$1,960,954
57$2,053,873$1,761,127$1,680,930$2,064,896
58$2,215,519$1,799,573$1,689,392$2,177,253
59$2,392,147$1,838,397$1,696,631$2,298,845
60$2,585,235$1,877,568$1,702,558$2,430,576
61$2,796,415$1,917,055$1,707,080$2,573,443
62$3,027,481$1,956,822$1,710,098$2,728,543
63$3,280,410$1,996,832$1,711,512$2,897,087
64$3,557,377$2,037,042$1,711,213$3,080,410
65$3,860,779$2,077,407$1,709,089$3,279,981
66$4,193,256$2,117,877$1,705,020$3,497,422
67$4,557,714$2,158,398$1,698,884$3,734,519
68$4,957,353$2,198,913$1,690,550$3,993,241
69$5,395,701$2,239,357$1,679,881$4,275,760
70$5,876,640$2,279,664$1,666,735$4,584,466
71$6,404,449$2,319,758$1,650,961$4,922,000
72$6,983,838$2,359,561$1,632,404$5,291,267
73$7,619,998$2,398,989$1,610,898$5,695,472
74$8,318,646$2,437,947$1,586,271$6,138,149
75$9,086,081$2,476,340$1,558,344$6,623,193
76$9,929,240$2,514,060$1,526,928$7,154,896
77$10,855,768$2,550,994$1,491,825$7,737,990
78$11,874,084$2,587,020$1,452,829$8,377,692
79$12,993,466$2,622,010$1,409,725$9,079,754
80$14,224,134$2,655,823$1,362,285$9,850,512
81$15,577,349$2,688,311$1,310,274$10,696,956
82$17,065,515$2,719,315$1,253,445$11,626,788
83$18,702,301$2,748,665$1,191,540$12,648,498
84$20,502,767$2,776,181$1,124,287$13,771,445
85$22,483,505$2,801,670$1,051,406$15,005,947
86$24,662,796$2,824,925$972,602$16,363,374
87$27,060,783$2,845,727$887,565$17,856,263
88$29,699,659$2,863,845$795,975$19,498,431
89$32,603,879$2,879,028$697,495$21,305,109
90$35,800,387$2,891,013$591,774$23,293,084
91$39,318,873$2,899,519$478,445$25,480,861
92$43,192,050$2,904,247$357,125$27,888,838
93$47,455,965$2,904,881$227,414$30,539,496
94$52,150,337$2,901,083$88,896$33,457,618
95$57,318,930$2,892,496$0$36,670,517
96$63,009,973$2,878,740$0$40,221,503
97$69,276,603$2,859,411$0$44,152,673
98$76,177,378$2,834,084$0$48,480,768
99$83,776,820$2,802,304$0$53,246,212
100$92,146,030$2,763,591$0$58,493,555