Can I retire at age 55 with 924,000?

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 $924,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$76,303$75,623$74,960$74,313$73,681$73,186
2 years$37,774$37,070$36,388$35,727$35,086$34,587
3 years$24,932$24,226$23,546$22,891$22,260$21,772
4 years$18,513$17,809$17,135$16,492$15,876$15,403
5 years$14,662$13,962$13,298$12,667$12,069$11,612
6 years$12,096$11,401$10,747$10,130$9,550$9,110
7 years$10,264$9,575$8,930$8,328$7,766$7,344
8 years$8,890$8,207$7,574$6,987$6,443$6,038
9 years$7,822$7,146$6,523$5,951$5,426$5,038
10 years$6,968$6,299$5,687$5,130$4,623$4,252
11 years$6,270$5,607$5,007$4,464$3,976$3,621
12 years$5,689$5,033$4,443$3,916$3,446$3,107
13 years$5,198$4,548$3,970$3,457$3,005$2,682
14 years$4,777$4,134$3,567$3,069$2,634$2,327
15 years$4,412$3,777$3,221$2,737$2,319$2,027
16 years$4,094$3,465$2,920$2,451$2,050$1,773
17 years$3,813$3,191$2,657$2,202$1,817$1,555
18 years$3,564$2,949$2,425$1,984$1,616$1,367
19 years$3,341$2,733$2,220$1,793$1,440$1,205
20 years$3,140$2,540$2,038$1,624$1,286$1,064
21 years$2,959$2,366$1,874$1,474$1,151$941
22 years$2,795$2,208$1,728$1,340$1,032$834
23 years$2,645$2,065$1,595$1,220$926$739
24 years$2,508$1,935$1,475$1,113$833$657
25 years$2,382$1,816$1,366$1,017$749$584
26 years$2,266$1,707$1,267$929$675$519
27 years$2,159$1,606$1,177$851$608$462
28 years$2,059$1,513$1,094$779$549$412
29 years$1,967$1,428$1,018$715$496$367
30 years$1,881$1,348$948$656$448$328
31 years$1,800$1,275$884$602$405$292
32 years$1,725$1,206$825$554$366$261
33 years$1,655$1,142$770$509$332$233
34 years$1,589$1,083$720$468$300$208
35 years$1,526$1,027$673$431$272$186
36 years$1,468$975$629$397$246$166
37 years$1,412$926$589$366$223$149
38 years$1,360$880$552$337$202$133
39 years$1,310$836$517$311$184$119
40 years$1,263$796$484$287$166$107
41 years$1,219$758$454$265$151$95
42 years$1,176$721$426$244$137$85
43 years$1,136$687$400$225$124$76
44 years$1,098$655$375$208$113$68
45 years$1,061$625$352$192$102$61
46 years$1,027$596$331$178$93$55
47 years$993$569$311$164$84$49
48 years$962$543$292$152$77$44
49 years$931$519$275$140$70$39
50 years$902$495$258$130$63$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $924,000, adding $3,421 every year, while hoping to spend $58,894 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: 89/5/6 Blend
54$924,000$924,000$924,000$924,000
55$1,021,777$972,805$958,483$1,112,261
56$1,063,335$957,809$927,929$1,156,644
57$1,107,159$940,105$894,378$1,196,804
58$1,153,416$919,498$857,667$1,239,009
59$1,202,292$895,780$817,626$1,283,418
60$1,253,986$868,734$774,077$1,330,207
61$1,308,719$838,129$726,835$1,379,566
62$1,366,730$803,718$675,705$1,431,705
63$1,428,280$765,244$620,485$1,486,857
64$1,493,656$722,432$560,962$1,545,273
65$1,563,170$674,993$496,916$1,607,232
66$1,637,165$622,619$428,115$1,673,041
67$1,716,016$564,988$354,317$1,743,034
68$1,800,134$501,757$275,271$1,817,581
69$1,889,968$432,563$190,712$1,897,088
70$1,986,011$357,024$100,367$1,982,002
71$2,088,803$274,738$3,949$2,072,814
72$2,198,937$185,276$0$2,170,064
73$2,317,062$88,188$0$2,280,681
74$2,443,892$0$0$2,399,667
75$2,580,209$0$0$2,528,446
76$2,726,872$0$0$2,672,222
77$2,884,824$0$0$2,827,068
78$3,055,101$0$0$2,993,999
79$3,238,842$0$0$3,174,133
80$3,437,296$0$0$3,368,696
81$3,651,837$0$0$3,579,033
82$3,883,975$0$0$3,806,628
83$4,135,371$0$0$4,053,106
84$4,407,848$0$0$4,320,259
85$4,703,414$0$0$4,610,054
86$5,024,276$0$0$4,924,656
87$5,372,861$0$0$5,266,445
88$5,751,839$0$0$5,638,040
89$6,164,148$0$0$6,042,321
90$6,613,019$0$0$6,482,460
91$7,102,009$0$0$6,961,942
92$7,635,031$0$0$7,484,608
93$8,216,394$0$0$8,054,680
94$8,850,837$0$0$8,676,810
95$9,543,578$0$0$9,356,114
96$10,300,363$0$0$10,098,226
97$11,127,515$0$0$10,909,349
98$12,031,997$0$0$11,796,312
99$13,021,475$0$0$12,766,632
100$14,104,389$0$0$13,828,589