Can I retire at age 55 with 896,000?

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 $896,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$73,991$73,332$72,689$72,061$71,448$68,804
2 years$36,629$35,947$35,286$34,645$34,023$31,389
3 years$24,177$23,492$22,832$22,197$21,586$19,044
4 years$17,952$17,269$16,616$15,992$15,395$12,966
5 years$14,218$13,539$12,895$12,283$11,703$9,393
6 years$11,729$11,056$10,421$9,823$9,260$7,070
7 years$9,953$9,285$8,660$8,076$7,531$5,460
8 years$8,621$7,959$7,344$6,775$6,248$4,295
9 years$7,585$6,929$6,326$5,771$5,261$3,424
10 years$6,757$6,108$5,515$4,974$4,483$2,757
11 years$6,080$5,437$4,855$4,329$3,856$2,238
12 years$5,517$4,880$4,309$3,797$3,341$1,828
13 years$5,040$4,410$3,850$3,352$2,914$1,500
14 years$4,632$4,009$3,459$2,976$2,554$1,236
15 years$4,279$3,662$3,123$2,654$2,249$1,021
16 years$3,970$3,360$2,831$2,376$1,987$846
17 years$3,697$3,094$2,576$2,135$1,762$703
18 years$3,456$2,859$2,352$1,924$1,567$584
19 years$3,239$2,650$2,153$1,739$1,397$487
20 years$3,045$2,463$1,976$1,575$1,247$406
21 years$2,870$2,294$1,818$1,429$1,116$339
22 years$2,710$2,141$1,675$1,299$1,001$283
23 years$2,565$2,003$1,547$1,183$898$237
24 years$2,432$1,876$1,430$1,079$807$198
25 years$2,310$1,761$1,325$986$726$166
26 years$2,197$1,655$1,229$901$654$139
27 years$2,093$1,557$1,141$825$590$116
28 years$1,997$1,468$1,061$756$532$97
29 years$1,907$1,384$987$693$481$82
30 years$1,824$1,308$919$636$434$68
31 years$1,746$1,236$857$584$393$57
32 years$1,673$1,170$800$537$355$48
33 years$1,605$1,108$747$494$321$40
34 years$1,540$1,050$698$454$291$34
35 years$1,480$996$652$418$264$28
36 years$1,423$945$610$385$239$24
37 years$1,369$898$571$355$216$20
38 years$1,319$853$535$327$196$17
39 years$1,271$811$501$302$178$14
40 years$1,225$772$470$278$161$12
41 years$1,182$735$440$257$146$10
42 years$1,141$700$413$237$133$8
43 years$1,102$667$388$219$121$7
44 years$1,065$635$364$202$109$6
45 years$1,029$606$342$186$99$5
46 years$995$578$321$172$90$4
47 years$963$552$301$159$82$3
48 years$932$527$283$147$74$3
49 years$903$503$266$136$68$2
50 years$875$480$250$126$61$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $896,000, adding $4,955 every year, while hoping to spend $47,075 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: 72/18/10 Blend
54$896,000$896,000$896,000$896,000
55$992,503$945,015$931,127$1,061,724
56$1,043,651$941,233$912,232$1,104,365
57$1,098,438$935,689$891,127$1,144,743
58$1,157,186$928,245$867,687$1,187,667
59$1,220,248$918,757$841,783$1,233,378
60$1,288,010$907,074$813,280$1,282,139
61$1,360,898$893,031$782,036$1,334,244
62$1,439,378$876,458$747,903$1,390,014
63$1,523,963$857,173$710,725$1,449,806
64$1,615,215$834,982$670,342$1,514,013
65$1,713,752$809,682$626,584$1,583,070
66$1,820,255$781,056$579,275$1,657,457
67$1,935,470$748,876$528,229$1,737,706
68$2,060,217$712,900$473,254$1,824,400
69$2,195,399$672,872$414,148$1,918,189
70$2,342,009$628,522$350,701$2,019,785
71$2,501,137$579,563$282,693$2,129,979
72$2,673,984$525,693$209,894$2,249,642
73$2,861,869$466,591$132,065$2,379,737
74$3,066,246$401,920$48,956$2,521,326
75$3,288,713$331,323$0$2,675,584
76$3,531,026$254,423$0$2,848,045
77$3,795,122$170,821$0$3,041,752
78$4,083,129$80,096$0$3,253,084
79$4,397,392$0$0$3,483,818
80$4,740,490$0$0$3,739,515
81$5,115,262$0$0$4,036,189
82$5,524,835$0$0$4,360,453
83$5,972,651$0$0$4,715,038
84$6,462,499$0$0$5,102,950
85$6,998,552$0$0$5,527,499
86$7,585,404$0$0$5,992,330
87$8,228,114$0$0$6,501,455
88$8,932,254$0$0$7,059,295
89$9,703,960$0$0$7,670,718
90$10,549,989$0$0$8,341,085
91$11,477,784$0$0$9,076,299
92$12,495,542$0$0$9,882,865
93$13,612,294$0$0$10,767,945
94$14,837,983$0$0$11,739,429
95$16,183,566$0$0$12,806,009
96$17,661,110$0$0$13,977,259
97$19,283,908$0$0$15,263,725
98$21,066,604$0$0$16,677,025
99$23,025,331$0$0$18,229,958
100$25,177,861$0$0$19,936,625