Can I retire at age 55 with 894,000?

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 $894,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$73,826$73,168$72,527$71,900$71,289$70,252
2 years$36,547$35,867$35,207$34,567$33,947$32,905
3 years$24,123$23,439$22,781$22,148$21,537$20,522
4 years$17,912$17,230$16,579$15,956$15,361$14,380
5 years$14,186$13,509$12,866$12,256$11,677$10,734
6 years$11,703$11,031$10,398$9,801$9,240$8,335
7 years$9,930$9,264$8,640$8,058$7,514$6,649
8 years$8,601$7,941$7,328$6,760$6,234$5,407
9 years$7,568$6,914$6,311$5,758$5,250$4,461
10 years$6,742$6,094$5,502$4,963$4,473$3,722
11 years$6,067$5,425$4,844$4,320$3,847$3,133
12 years$5,504$4,869$4,299$3,789$3,334$2,656
13 years$5,029$4,401$3,841$3,345$2,907$2,265
14 years$4,622$4,000$3,451$2,969$2,548$1,940
15 years$4,269$3,654$3,116$2,648$2,244$1,669
16 years$3,961$3,353$2,825$2,371$1,983$1,440
17 years$3,689$3,088$2,571$2,130$1,758$1,247
18 years$3,448$2,853$2,347$1,920$1,563$1,081
19 years$3,232$2,644$2,148$1,735$1,393$940
20 years$3,038$2,457$1,972$1,571$1,245$819
21 years$2,863$2,289$1,813$1,426$1,114$714
22 years$2,704$2,136$1,671$1,297$998$623
23 years$2,559$1,998$1,543$1,181$896$545
24 years$2,427$1,872$1,427$1,077$806$477
25 years$2,305$1,757$1,322$984$725$418
26 years$2,193$1,651$1,226$899$653$366
27 years$2,089$1,554$1,138$823$589$321
28 years$1,993$1,464$1,058$754$531$282
29 years$1,903$1,381$985$692$480$247
30 years$1,820$1,305$917$635$433$217
31 years$1,742$1,233$855$583$392$191
32 years$1,669$1,167$798$536$354$168
33 years$1,601$1,105$745$493$321$148
34 years$1,537$1,047$696$453$290$130
35 years$1,477$993$651$417$263$114
36 years$1,420$943$609$384$238$100
37 years$1,366$896$570$354$216$88
38 years$1,316$851$534$326$196$78
39 years$1,268$809$500$301$178$68
40 years$1,222$770$469$278$161$60
41 years$1,179$733$439$256$146$53
42 years$1,138$698$412$236$133$47
43 years$1,099$665$387$218$120$41
44 years$1,062$634$363$201$109$36
45 years$1,027$605$341$186$99$32
46 years$993$577$320$172$90$28
47 years$961$550$301$159$82$25
48 years$930$525$283$147$74$22
49 years$901$502$266$136$67$19
50 years$873$479$250$125$61$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $894,000, adding $2,480 every year, while hoping to spend $49,236 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: 29/41/30 Blend
54$894,000$894,000$894,000$894,000
55$987,746$940,364$926,507$1,007,216
56$1,036,110$934,055$905,158$1,016,621
57$1,087,756$925,787$881,444$1,022,316
58$1,142,968$915,412$855,234$1,027,473
59$1,202,056$902,772$826,389$1,032,082
60$1,265,359$887,702$794,767$1,036,135
61$1,333,252$870,025$760,218$1,039,629
62$1,406,143$849,555$722,584$1,042,566
63$1,484,480$826,095$681,702$1,044,954
64$1,568,758$799,434$637,400$1,046,808
65$1,659,518$769,353$589,499$1,048,150
66$1,757,353$735,616$537,812$1,049,010
67$1,862,918$697,975$482,143$1,049,432
68$1,976,929$656,169$422,288$1,049,468
69$2,100,174$609,920$358,033$1,049,185
70$2,233,522$558,936$289,157$1,048,664
71$2,377,923$502,906$215,426$1,048,006
72$2,534,425$441,503$136,597$1,047,328
73$2,704,180$374,380$52,417$1,046,772
74$2,888,455$301,173$0$1,046,502
75$3,088,642$221,495$0$1,058,691
76$3,306,273$134,937$0$1,090,269
77$3,543,033$41,070$0$1,124,794
78$3,800,779$0$0$1,162,661
79$4,081,549$0$0$1,231,639
80$4,387,591$0$0$1,327,152
81$4,721,375$0$0$1,431,459
82$5,085,622$0$0$1,545,427
83$5,483,326$0$0$1,670,011
84$5,917,784$0$0$1,806,261
85$6,392,623$0$0$1,955,334
86$6,911,840$0$0$2,118,505
87$7,479,833$0$0$2,297,178
88$8,101,446$0$0$2,492,896
89$8,782,010$0$0$2,707,361
90$9,527,401$0$0$2,942,449
91$10,344,084$0$0$3,200,221
92$11,239,183$0$0$3,482,952
93$12,220,542$0$0$3,793,146
94$13,296,801$0$0$4,133,559
95$14,477,476$0$0$4,507,231
96$15,773,048$0$0$4,917,506
97$17,195,063$0$0$5,368,072
98$18,756,239$0$0$5,862,988
99$20,470,584$0$0$6,406,727
100$22,353,530$0$0$7,004,218