Can I retire at age 55 with 895,000?

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 $895,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$73,908$73,250$72,608$71,981$71,369$69,728
2 years$36,588$35,907$35,246$34,606$33,985$32,341
3 years$24,150$23,466$22,807$22,172$21,561$19,966
4 years$17,932$17,250$16,597$15,974$15,378$13,843
5 years$14,202$13,524$12,880$12,270$11,690$10,220
6 years$11,716$11,043$10,409$9,812$9,250$7,846
7 years$9,942$9,274$8,650$8,067$7,523$6,185
8 years$8,611$7,950$7,336$6,767$6,241$4,969
9 years$7,577$6,922$6,318$5,764$5,256$4,049
10 years$6,750$6,101$5,509$4,969$4,478$3,335
11 years$6,074$5,431$4,850$4,324$3,851$2,770
12 years$5,511$4,875$4,304$3,793$3,337$2,317
13 years$5,035$4,406$3,845$3,349$2,910$1,948
14 years$4,627$4,004$3,455$2,973$2,551$1,646
15 years$4,274$3,658$3,119$2,651$2,246$1,395
16 years$3,965$3,356$2,828$2,374$1,985$1,186
17 years$3,693$3,091$2,574$2,133$1,760$1,011
18 years$3,452$2,856$2,349$1,922$1,565$864
19 years$3,236$2,647$2,151$1,737$1,395$739
20 years$3,042$2,460$1,974$1,573$1,246$634
21 years$2,867$2,291$1,816$1,428$1,115$544
22 years$2,707$2,139$1,673$1,298$1,000$467
23 years$2,562$2,000$1,545$1,182$897$402
24 years$2,429$1,874$1,429$1,078$806$346
25 years$2,307$1,759$1,323$985$726$298
26 years$2,195$1,653$1,227$900$654$257
27 years$2,091$1,556$1,140$824$589$222
28 years$1,995$1,466$1,060$755$532$191
29 years$1,905$1,383$986$692$480$165
30 years$1,822$1,306$918$635$434$142
31 years$1,744$1,235$856$584$392$123
32 years$1,671$1,168$799$536$355$106
33 years$1,603$1,106$746$493$321$92
34 years$1,539$1,049$697$454$291$79
35 years$1,478$995$652$418$263$69
36 years$1,421$944$610$385$239$59
37 years$1,368$897$571$354$216$51
38 years$1,317$852$534$327$196$44
39 years$1,269$810$501$301$178$38
40 years$1,224$771$469$278$161$33
41 years$1,180$734$440$256$146$29
42 years$1,139$699$413$237$133$25
43 years$1,100$666$387$218$120$21
44 years$1,063$635$363$202$109$18
45 years$1,028$605$341$186$99$16
46 years$994$577$321$172$90$14
47 years$962$551$301$159$82$12
48 years$931$526$283$147$74$10
49 years$902$502$266$136$68$9
50 years$874$480$250$125$61$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $895,000, adding $6,505 every year, while hoping to spend $58,220 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: 41/39/20 Blend
54$895,000$895,000$895,000$895,000
55$993,000$945,565$931,692$1,027,624
56$1,032,340$929,952$900,958$1,037,302
57$1,073,742$911,623$867,244$1,041,673
58$1,117,354$890,383$830,387$1,045,206
59$1,163,338$866,025$790,219$1,047,855
60$1,211,872$838,333$746,564$1,049,576
61$1,263,146$807,075$699,237$1,050,322
62$1,317,372$772,007$648,047$1,050,048
63$1,374,779$732,870$592,791$1,048,712
64$1,435,616$689,391$533,260$1,046,271
65$1,500,158$641,280$469,233$1,042,685
66$1,568,705$588,233$400,483$1,037,917
67$1,641,581$529,926$326,768$1,031,933
68$1,719,147$466,016$247,839$1,024,704
69$1,801,794$396,145$163,435$1,016,205
70$1,889,950$319,929$73,283$1,006,418
71$1,984,086$236,966$0$995,332
72$2,084,716$146,831$0$987,837
73$2,192,406$49,075$0$996,054
74$2,307,774$0$0$1,004,415
75$2,431,500$0$0$1,037,386
76$2,564,328$0$0$1,095,473
77$2,707,076$0$0$1,157,980
78$2,860,642$0$0$1,225,313
79$3,026,011$0$0$1,297,913
80$3,204,266$0$0$1,376,270
81$3,396,595$0$0$1,460,916
82$3,604,305$0$0$1,552,441
83$3,828,831$0$0$1,651,490
84$4,071,750$0$0$1,758,775
85$4,334,797$0$0$1,875,076
86$4,619,878$0$0$2,001,252
87$4,929,090$0$0$2,138,248
88$5,264,739$0$0$2,287,103
89$5,629,359$0$0$2,448,960
90$6,025,740$0$0$2,625,076
91$6,456,951$0$0$2,816,835
92$6,926,367$0$0$3,025,760
93$7,437,705$0$0$3,253,526
94$7,995,052$0$0$3,501,976
95$8,602,908$0$0$3,773,142
96$9,266,224$0$0$4,069,256
97$9,990,451$0$0$4,392,778
98$10,781,591$0$0$4,746,416
99$11,646,249$0$0$5,133,150
100$12,591,697$0$0$5,556,263