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%18.5%
1 years$132,127$130,950$129,801$128,681$127,586$123,206
2 years$65,409$64,191$63,010$61,866$60,755$56,387
3 years$43,173$41,950$40,772$39,638$38,546$34,327
4 years$32,057$30,837$29,671$28,557$27,491$23,453
5 years$25,389$24,177$23,026$21,934$20,898$17,053
6 years$20,945$19,742$18,609$17,541$16,536$12,885
7 years$17,773$16,579$15,464$14,422$13,448$9,992
8 years$15,394$14,212$13,115$12,098$11,157$7,892
9 years$13,545$12,374$11,296$10,305$9,396$6,318
10 years$12,067$10,907$9,848$8,883$8,005$5,111
11 years$10,858$9,710$8,670$7,731$6,885$4,167
12 years$9,851$8,715$7,694$6,781$5,966$3,419
13 years$9,000$7,876$6,874$5,986$5,203$2,819
14 years$8,271$7,159$6,177$5,314$4,561$2,334
15 years$7,640$6,540$5,577$4,739$4,016$1,939
16 years$7,089$6,000$5,056$4,243$3,549$1,614
17 years$6,602$5,526$4,601$3,813$3,147$1,348
18 years$6,171$5,106$4,200$3,436$2,798$1,127
19 years$5,785$4,732$3,845$3,105$2,494$944
20 years$5,438$4,398$3,529$2,812$2,228$791
21 years$5,124$4,096$3,246$2,552$1,993$664
22 years$4,840$3,824$2,991$2,320$1,787$558
23 years$4,581$3,576$2,762$2,113$1,604$469
24 years$4,343$3,351$2,554$1,927$1,442$394
25 years$4,125$3,144$2,366$1,760$1,297$332
26 years$3,924$2,955$2,194$1,609$1,169$280
27 years$3,738$2,781$2,038$1,473$1,054$235
28 years$3,566$2,621$1,894$1,350$951$198
29 years$3,406$2,472$1,763$1,238$858$167
30 years$3,257$2,335$1,642$1,136$776$141
31 years$3,118$2,207$1,531$1,043$701$119
32 years$2,987$2,088$1,428$959$634$100
33 years$2,865$1,978$1,333$882$574$84
34 years$2,751$1,875$1,246$811$520$71
35 years$2,643$1,778$1,165$747$471$60
36 years$2,541$1,688$1,090$688$427$51
37 years$2,445$1,603$1,020$634$387$43
38 years$2,355$1,523$955$584$350$36
39 years$2,269$1,448$895$539$318$30
40 years$2,187$1,378$839$497$288$26
41 years$2,110$1,312$786$458$262$22
42 years$2,037$1,249$738$423$237$18
43 years$1,967$1,190$692$390$215$15
44 years$1,901$1,135$650$361$195$13
45 years$1,838$1,082$610$333$177$11
46 years$1,778$1,032$573$308$161$9
47 years$1,720$985$538$284$146$8
48 years$1,665$940$506$263$133$7
49 years$1,612$898$476$243$121$6
50 years$1,562$858$447$224$110$5

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 $5,559 every year, while hoping to spend $29,285 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: 75/15/10 Blend
54$1,600,000$1,600,000$1,600,000$1,600,000
55$1,768,934$1,684,134$1,659,334$1,898,015
56$1,918,206$1,735,498$1,683,763$2,035,212
57$2,081,723$1,788,397$1,708,028$2,181,276
58$2,260,906$1,842,875$1,732,094$2,340,518
59$2,457,321$1,898,979$1,755,922$2,514,236
60$2,672,693$1,956,754$1,779,471$2,703,860
61$2,908,922$2,016,249$1,802,698$2,910,963
62$3,168,100$2,077,514$1,825,556$3,137,276
63$3,452,533$2,140,598$1,847,999$3,384,708
64$3,764,757$2,205,554$1,869,973$3,655,360
65$4,107,571$2,272,435$1,891,426$3,951,546
66$4,484,055$2,341,295$1,912,299$4,275,815
67$4,897,601$2,412,191$1,932,534$4,630,974
68$5,351,948$2,485,180$1,952,066$5,020,116
69$5,851,215$2,560,322$1,970,828$5,446,647
70$6,399,938$2,637,677$1,988,750$5,914,319
71$7,003,116$2,717,307$2,005,757$6,427,265
72$7,666,254$2,799,276$2,021,771$6,990,038
73$8,395,421$2,883,650$2,036,709$7,607,655
74$9,197,300$2,970,495$2,050,485$8,285,642
75$10,079,256$3,059,880$2,063,007$9,030,086
76$11,049,401$3,151,875$2,074,179$9,847,696
77$12,116,676$3,246,553$2,083,901$10,745,860
78$13,290,931$3,343,988$2,092,065$11,732,721
79$14,583,018$3,444,255$2,098,561$12,817,249
80$16,004,894$3,547,433$2,103,272$14,009,326
81$17,569,736$3,653,600$2,106,074$15,319,843
82$19,292,061$3,762,838$2,106,839$16,760,798
83$21,187,864$3,875,230$2,105,431$18,345,411
84$23,274,772$3,990,862$2,101,709$20,088,248
85$25,572,205$4,109,820$2,095,523$22,005,359
86$28,101,564$4,232,196$2,086,716$24,114,430
87$30,886,429$4,358,078$2,075,127$26,434,948
88$33,952,783$4,487,562$2,060,582$28,988,384
89$37,329,257$4,620,743$2,042,901$31,798,400
90$41,047,400$4,757,718$2,021,897$34,891,065
91$45,141,976$4,898,588$1,997,372$38,295,109
92$49,651,293$5,043,454$1,969,119$42,042,188
93$54,617,562$5,192,421$1,936,922$46,167,183
94$60,087,299$5,345,595$1,900,555$50,708,534
95$66,111,759$5,503,085$1,859,779$55,708,595
96$72,747,425$5,665,002$1,814,348$61,214,042
97$80,056,534$5,831,459$1,764,001$67,276,306
98$88,107,673$6,002,573$1,708,467$73,952,062
99$96,976,416$6,178,460$1,647,461$81,303,764
100$106,746,047$6,359,241$1,580,688$89,400,234