Can I retire at age 55 with 916,000?

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 $916,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$75,642$74,969$74,311$73,670$73,043$72,705
2 years$37,447$36,749$36,073$35,418$34,782$34,441
3 years$24,717$24,016$23,342$22,693$22,067$21,733
4 years$18,353$17,654$16,987$16,349$15,739$15,414
5 years$14,535$13,841$13,183$12,557$11,964$11,651
6 years$11,991$11,302$10,653$10,042$9,467$9,165
7 years$10,175$9,492$8,853$8,256$7,699$7,409
8 years$8,813$8,136$7,508$6,926$6,387$6,108
9 years$7,755$7,084$6,467$5,899$5,379$5,111
10 years$6,908$6,244$5,638$5,085$4,583$4,327
11 years$6,216$5,559$4,963$4,426$3,942$3,697
12 years$5,640$4,989$4,405$3,882$3,416$3,182
13 years$5,153$4,509$3,936$3,427$2,979$2,755
14 years$4,735$4,098$3,536$3,042$2,611$2,398
15 years$4,374$3,744$3,193$2,713$2,299$2,096
16 years$4,058$3,435$2,895$2,429$2,032$1,839
17 years$3,780$3,164$2,634$2,183$1,802$1,619
18 years$3,533$2,923$2,404$1,967$1,602$1,428
19 years$3,312$2,709$2,201$1,777$1,428$1,263
20 years$3,113$2,518$2,020$1,610$1,275$1,119
21 years$2,934$2,345$1,858$1,461$1,141$994
22 years$2,771$2,189$1,713$1,328$1,023$884
23 years$2,622$2,047$1,581$1,210$918$787
24 years$2,486$1,918$1,462$1,103$825$701
25 years$2,362$1,800$1,354$1,008$743$626
26 years$2,247$1,692$1,256$921$669$559
27 years$2,140$1,592$1,166$843$603$500
28 years$2,042$1,500$1,084$773$544$447
29 years$1,950$1,415$1,009$709$491$400
30 years$1,865$1,337$940$650$444$358
31 years$1,785$1,264$876$597$401$321
32 years$1,710$1,196$818$549$363$288
33 years$1,640$1,132$763$505$329$258
34 years$1,575$1,073$713$464$298$232
35 years$1,513$1,018$667$428$270$208
36 years$1,455$966$624$394$244$187
37 years$1,400$918$584$363$221$168
38 years$1,348$872$547$334$201$151
39 years$1,299$829$512$308$182$135
40 years$1,252$789$480$284$165$122
41 years$1,208$751$450$262$150$109
42 years$1,166$715$422$242$136$98
43 years$1,126$681$396$224$123$88
44 years$1,088$650$372$206$112$79
45 years$1,052$619$349$191$102$71
46 years$1,018$591$328$176$92$64
47 years$985$564$308$163$84$58
48 years$953$538$290$150$76$52
49 years$923$514$272$139$69$47
50 years$894$491$256$128$63$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $916,000, adding $6,596 every year, while hoping to spend $31,077 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: 61/31/8 Blend
54$916,000$916,000$916,000$916,000
55$1,016,236$967,688$953,490$1,076,106
56$1,086,826$982,039$952,366$1,131,325
57$1,163,575$996,051$950,163$1,187,376
58$1,247,078$1,009,676$946,812$1,247,748
59$1,337,990$1,022,861$942,240$1,312,859
60$1,437,032$1,035,548$936,372$1,383,169
61$1,544,997$1,047,677$929,129$1,459,185
62$1,662,759$1,059,185$920,426$1,541,467
63$1,791,277$1,070,002$910,177$1,630,630
64$1,931,610$1,080,055$898,291$1,727,355
65$2,084,923$1,089,266$884,672$1,832,391
66$2,252,496$1,097,551$869,219$1,946,564
67$2,435,741$1,104,822$851,829$2,070,785
68$2,636,213$1,110,984$832,391$2,206,060
69$2,855,621$1,115,937$810,791$2,353,496
70$3,095,850$1,119,573$786,908$2,514,316
71$3,358,974$1,121,780$760,617$2,689,866
72$3,647,279$1,122,437$731,787$2,881,633
73$3,963,280$1,121,415$700,281$3,091,255
74$4,309,748$1,118,578$665,954$3,320,539
75$4,689,736$1,113,782$628,657$3,571,477
76$5,106,605$1,106,873$588,233$3,846,266
77$5,564,058$1,097,689$544,518$4,147,329
78$6,066,174$1,086,058$497,341$4,477,338
79$6,617,444$1,071,795$446,522$4,839,238
80$7,222,819$1,054,708$391,876$5,236,279
81$7,887,749$1,034,592$333,207$5,672,041
82$8,618,241$1,011,228$270,310$6,150,476
83$9,420,909$984,386$202,974$6,675,936
84$10,303,044$953,823$130,975$7,253,226
85$11,272,674$919,280$54,083$7,887,639
86$12,338,646$880,484$0$8,585,014
87$13,510,707$837,146$0$9,354,175
88$14,799,593$788,960$0$10,204,913
89$16,217,136$735,604$0$11,140,456
90$17,776,369$676,734$0$12,169,452
91$19,491,655$611,990$0$13,301,440
92$21,378,816$540,989$0$14,546,930
93$23,455,286$463,329$0$15,917,512
94$25,740,274$378,581$0$17,425,960
95$28,254,947$286,297$0$19,086,354
96$31,022,625$185,999$0$20,914,218
97$34,069,005$77,185$0$22,926,661
98$37,422,401$0$0$25,142,544
99$41,114,012$0$0$27,596,533
100$45,178,215$0$0$30,327,276