Can I retire at age 55 with 896,000?

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 $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%17.7%
1 years$73,991$73,332$72,689$72,061$71,448$69,217
2 years$36,629$35,947$35,286$34,645$34,023$31,794
3 years$24,177$23,492$22,832$22,197$21,586$19,430
4 years$17,952$17,269$16,616$15,992$15,395$13,329
5 years$14,218$13,539$12,895$12,283$11,703$9,732
6 years$11,729$11,056$10,421$9,823$9,260$7,386
7 years$9,953$9,285$8,660$8,076$7,531$5,754
8 years$8,621$7,959$7,344$6,775$6,248$4,566
9 years$7,585$6,929$6,326$5,771$5,261$3,674
10 years$6,757$6,108$5,515$4,974$4,483$2,986
11 years$6,080$5,437$4,855$4,329$3,856$2,448
12 years$5,517$4,880$4,309$3,797$3,341$2,019
13 years$5,040$4,410$3,850$3,352$2,914$1,674
14 years$4,632$4,009$3,459$2,976$2,554$1,393
15 years$4,279$3,662$3,123$2,654$2,249$1,164
16 years$3,970$3,360$2,831$2,376$1,987$975
17 years$3,697$3,094$2,576$2,135$1,762$819
18 years$3,456$2,859$2,352$1,924$1,567$689
19 years$3,239$2,650$2,153$1,739$1,397$580
20 years$3,045$2,463$1,976$1,575$1,247$489
21 years$2,870$2,294$1,818$1,429$1,116$413
22 years$2,710$2,141$1,675$1,299$1,001$349
23 years$2,565$2,003$1,547$1,183$898$296
24 years$2,432$1,876$1,430$1,079$807$250
25 years$2,310$1,761$1,325$986$726$212
26 years$2,197$1,655$1,229$901$654$180
27 years$2,093$1,557$1,141$825$590$152
28 years$1,997$1,468$1,061$756$532$129
29 years$1,907$1,384$987$693$481$110
30 years$1,824$1,308$919$636$434$93
31 years$1,746$1,236$857$584$393$79
32 years$1,673$1,170$800$537$355$67
33 years$1,605$1,108$747$494$321$57
34 years$1,540$1,050$698$454$291$48
35 years$1,480$996$652$418$264$41
36 years$1,423$945$610$385$239$35
37 years$1,369$898$571$355$216$30
38 years$1,319$853$535$327$196$25
39 years$1,271$811$501$302$178$21
40 years$1,225$772$470$278$161$18
41 years$1,182$735$440$257$146$15
42 years$1,141$700$413$237$133$13
43 years$1,102$667$388$219$121$11
44 years$1,065$635$364$202$109$9
45 years$1,029$606$342$186$99$8
46 years$995$578$321$172$90$7
47 years$963$552$301$159$82$6
48 years$932$527$283$147$74$5
49 years$903$503$266$136$68$4
50 years$875$480$250$126$61$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $896,000, adding $6,881 every year, while hoping to spend $54,014 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: 77/9/14 Blend
54$896,000$896,000$896,000$896,000
55$994,490$947,002$933,114$1,067,661
56$1,038,457$935,934$906,903$1,105,791
57$1,085,099$922,514$878,003$1,140,078
58$1,134,631$906,569$846,268$1,176,175
59$1,187,289$887,917$811,544$1,214,241
60$1,243,331$866,364$773,669$1,254,454
61$1,303,041$841,705$732,477$1,297,011
62$1,366,726$813,724$687,790$1,342,129
63$1,434,727$782,191$639,426$1,390,047
64$1,507,415$746,864$587,192$1,441,029
65$1,585,197$707,486$530,889$1,495,369
66$1,668,519$663,785$470,306$1,553,390
67$1,757,872$615,475$405,225$1,615,448
68$1,853,792$562,250$335,417$1,681,938
69$1,956,870$503,791$260,644$1,753,296
70$2,067,752$439,758$180,657$1,830,002
71$2,187,150$369,794$95,196$1,912,590
72$2,315,843$293,518$3,990$2,001,647
73$2,454,690$210,531$0$2,097,820
74$2,604,632$120,410$0$2,215,772
75$2,766,704$22,710$0$2,343,893
76$2,942,044$0$0$2,482,506
77$3,131,903$0$0$2,640,850
78$3,337,655$0$0$2,814,913
79$3,560,813$0$0$3,003,728
80$3,803,038$0$0$3,208,706
81$4,066,159$0$0$3,431,398
82$4,352,187$0$0$3,673,509
83$4,663,336$0$0$3,936,917
84$5,002,040$0$0$4,223,687
85$5,370,977$0$0$4,536,092
86$5,773,095$0$0$4,876,632
87$6,211,640$0$0$5,248,059
88$6,690,182$0$0$5,653,403
89$7,212,650$0$0$6,095,999
90$7,783,373$0$0$6,579,517
91$8,407,113$0$0$7,107,998
92$9,089,114$0$0$7,685,892
93$9,835,150$0$0$8,318,096
94$10,651,579$0$0$9,010,005
95$11,545,401$0$0$9,767,558
96$12,524,325$0$0$10,597,294
97$13,596,839$0$0$11,506,418
98$14,772,293$0$0$12,502,860
99$16,060,984$0$0$13,595,357
100$17,474,252$0$0$14,793,531