Can I retire at age 55 with 893,000?

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 $893,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$73,743$73,086$72,445$71,820$71,209$68,411
2 years$36,506$35,827$35,168$34,529$33,909$31,124
3 years$24,096$23,413$22,756$22,123$21,513$18,829
4 years$17,892$17,211$16,560$15,938$15,343$12,781
5 years$14,170$13,494$12,852$12,242$11,664$9,229
6 years$11,690$11,019$10,386$9,790$9,229$6,924
7 years$9,919$9,253$8,631$8,049$7,506$5,329
8 years$8,592$7,932$7,320$6,752$6,227$4,177
9 years$7,560$6,906$6,304$5,751$5,244$3,318
10 years$6,735$6,087$5,496$4,958$4,468$2,662
11 years$6,060$5,419$4,839$4,315$3,843$2,152
12 years$5,498$4,864$4,294$3,785$3,330$1,750
13 years$5,023$4,396$3,837$3,341$2,904$1,430
14 years$4,616$3,996$3,447$2,966$2,545$1,173
15 years$4,264$3,650$3,112$2,645$2,241$966
16 years$3,956$3,349$2,822$2,368$1,981$797
17 years$3,685$3,084$2,568$2,128$1,756$659
18 years$3,444$2,850$2,344$1,918$1,562$545
19 years$3,229$2,641$2,146$1,733$1,392$452
20 years$3,035$2,454$1,969$1,569$1,243$375
21 years$2,860$2,286$1,811$1,424$1,113$312
22 years$2,701$2,134$1,670$1,295$997$259
23 years$2,557$1,996$1,542$1,179$895$216
24 years$2,424$1,870$1,426$1,076$805$180
25 years$2,302$1,755$1,320$982$724$150
26 years$2,190$1,649$1,225$898$652$125
27 years$2,086$1,552$1,137$822$588$104
28 years$1,990$1,463$1,057$753$531$87
29 years$1,901$1,380$984$691$479$72
30 years$1,818$1,303$916$634$433$60
31 years$1,740$1,232$854$582$391$50
32 years$1,667$1,166$797$535$354$42
33 years$1,599$1,104$744$492$320$35
34 years$1,535$1,046$695$453$290$29
35 years$1,475$992$650$417$263$24
36 years$1,418$942$608$384$238$20
37 years$1,365$895$569$354$216$17
38 years$1,314$850$533$326$196$14
39 years$1,266$808$499$301$177$12
40 years$1,221$769$468$277$161$10
41 years$1,178$732$439$256$146$8
42 years$1,137$697$412$236$132$7
43 years$1,098$664$386$218$120$6
44 years$1,061$633$363$201$109$5
45 years$1,026$604$341$186$99$4
46 years$992$576$320$172$90$3
47 years$960$550$300$159$82$3
48 years$929$525$282$147$74$2
49 years$900$501$265$135$67$2
50 years$872$479$250$125$61$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $893,000, adding $4,782 every year, while hoping to spend $38,193 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: 44/47/9 Blend
54$893,000$893,000$893,000$893,000
55$989,019$941,690$927,848$1,029,791
56$1,049,261$947,195$918,294$1,064,059
57$1,114,369$951,691$907,140$1,096,898
58$1,184,797$955,086$894,291$1,131,620
59$1,261,047$957,286$879,651$1,168,411
60$1,343,669$958,189$863,115$1,207,480
61$1,433,270$957,686$844,575$1,249,056
62$1,530,515$955,665$823,920$1,293,396
63$1,636,138$952,002$801,032$1,340,785
64$1,750,943$946,569$775,785$1,391,538
65$1,875,818$939,230$748,053$1,446,006
66$2,011,738$929,839$717,700$1,504,577
67$2,159,777$918,242$684,584$1,567,684
68$2,321,115$904,277$648,558$1,635,805
69$2,497,052$887,770$609,468$1,709,471
70$2,689,019$868,538$567,153$1,789,270
71$2,898,590$846,388$521,444$1,875,855
72$3,127,500$821,114$472,165$1,969,949
73$3,377,655$792,500$419,134$2,072,353
74$3,651,158$760,314$362,157$2,183,954
75$3,950,321$724,315$301,034$2,305,737
76$4,277,691$684,243$235,556$2,438,789
77$4,636,073$639,828$165,504$2,584,316
78$5,028,555$590,782$90,651$2,743,653
79$5,458,537$536,800$10,757$2,918,276
80$5,929,764$477,560$0$3,109,820
81$6,446,363$412,723$0$3,327,248
82$7,012,875$341,930$0$3,566,974
83$7,634,304$264,800$0$3,830,202
84$8,316,162$180,934$0$4,119,407
85$9,064,519$89,908$0$4,437,325
86$9,886,061$0$0$4,786,976
87$10,788,155$0$0$5,176,212
88$11,778,915$0$0$5,654,887
89$12,867,279$0$0$6,180,834
90$14,063,094$0$0$6,758,825
91$15,377,207$0$0$7,394,120
92$16,821,570$0$0$8,092,510
93$18,409,348$0$0$8,860,378
94$20,155,047$0$0$9,704,755
95$22,074,648$0$0$10,633,389
96$24,185,757$0$0$11,654,813
97$26,507,774$0$0$12,778,433
98$29,062,070$0$0$14,014,608
99$31,872,196$0$0$15,374,756
100$34,964,098$0$0$16,871,455