Can I retire at age 55 with 924,000?

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 $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%18.1%
1 years$76,303$75,623$74,960$74,313$73,681$71,265
2 years$37,774$37,070$36,388$35,727$35,086$32,676
3 years$24,932$24,226$23,546$22,891$22,260$19,930
4 years$18,513$17,809$17,135$16,492$15,876$13,645
5 years$14,662$13,962$13,298$12,667$12,069$9,942
6 years$12,096$11,401$10,747$10,130$9,550$7,529
7 years$10,264$9,575$8,930$8,328$7,766$5,851
8 years$8,890$8,207$7,574$6,987$6,443$4,633
9 years$7,822$7,146$6,523$5,951$5,426$3,718
10 years$6,968$6,299$5,687$5,130$4,623$3,015
11 years$6,270$5,607$5,007$4,464$3,976$2,465
12 years$5,689$5,033$4,443$3,916$3,446$2,027
13 years$5,198$4,548$3,970$3,457$3,005$1,676
14 years$4,777$4,134$3,567$3,069$2,634$1,392
15 years$4,412$3,777$3,221$2,737$2,319$1,159
16 years$4,094$3,465$2,920$2,451$2,050$968
17 years$3,813$3,191$2,657$2,202$1,817$811
18 years$3,564$2,949$2,425$1,984$1,616$680
19 years$3,341$2,733$2,220$1,793$1,440$571
20 years$3,140$2,540$2,038$1,624$1,286$480
21 years$2,959$2,366$1,874$1,474$1,151$404
22 years$2,795$2,208$1,728$1,340$1,032$341
23 years$2,645$2,065$1,595$1,220$926$287
24 years$2,508$1,935$1,475$1,113$833$242
25 years$2,382$1,816$1,366$1,017$749$205
26 years$2,266$1,707$1,267$929$675$173
27 years$2,159$1,606$1,177$851$608$146
28 years$2,059$1,513$1,094$779$549$124
29 years$1,967$1,428$1,018$715$496$104
30 years$1,881$1,348$948$656$448$88
31 years$1,800$1,275$884$602$405$75
32 years$1,725$1,206$825$554$366$63
33 years$1,655$1,142$770$509$332$53
34 years$1,589$1,083$720$468$300$45
35 years$1,526$1,027$673$431$272$38
36 years$1,468$975$629$397$246$32
37 years$1,412$926$589$366$223$27
38 years$1,360$880$552$337$202$23
39 years$1,310$836$517$311$184$20
40 years$1,263$796$484$287$166$17
41 years$1,219$758$454$265$151$14
42 years$1,176$721$426$244$137$12
43 years$1,136$687$400$225$124$10
44 years$1,098$655$375$208$113$9
45 years$1,061$625$352$192$102$7
46 years$1,027$596$331$178$93$6
47 years$993$569$311$164$84$5
48 years$962$543$292$152$77$4
49 years$931$519$275$140$70$4
50 years$902$495$258$130$63$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $924,000, adding $6,249 every year, while hoping to spend $36,266 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: 60/24/16 Blend
54$924,000$924,000$924,000$924,000
55$1,024,694$975,722$961,400$1,081,648
56$1,090,626$984,945$955,020$1,130,036
57$1,162,067$993,406$947,211$1,178,207
58$1,239,542$1,001,026$937,887$1,229,908
59$1,323,626$1,007,727$926,956$1,285,486
60$1,414,953$1,013,423$914,326$1,345,321
61$1,514,219$1,018,021$899,897$1,409,835
62$1,622,191$1,021,426$883,565$1,479,493
63$1,739,711$1,023,533$865,221$1,554,810
64$1,867,709$1,024,233$844,753$1,636,352
65$2,007,205$1,023,410$822,042$1,724,745
66$2,159,322$1,020,939$796,963$1,820,682
67$2,325,298$1,016,690$769,386$1,924,925
68$2,506,494$1,010,524$739,176$2,038,318
69$2,704,408$1,002,291$706,190$2,161,790
70$2,920,690$991,836$670,280$2,296,368
71$3,157,157$978,992$631,291$2,443,186
72$3,415,808$963,584$589,060$2,603,495
73$3,698,845$945,424$543,418$2,778,676
74$4,008,692$924,315$494,188$2,970,253
75$4,348,020$900,047$441,184$3,179,909
76$4,719,768$872,400$384,214$3,409,499
77$5,127,174$841,137$323,075$3,661,072
78$5,573,804$806,011$257,556$3,936,889
79$6,063,585$766,759$187,438$4,239,444
80$6,600,844$723,104$112,490$4,571,490
81$7,190,345$674,750$32,473$4,936,063
82$7,837,335$621,388$0$5,336,514
83$8,547,596$562,689$0$5,785,574
84$9,327,496$498,306$0$6,284,790
85$10,184,049$427,871$0$6,833,158
86$11,124,982$350,997$0$7,435,689
87$12,158,808$267,274$0$8,097,909
88$13,294,906$176,270$0$8,825,909
89$14,543,607$77,527$0$9,626,405
90$15,916,292$0$0$10,506,801
91$17,425,503$0$0$11,483,034
92$19,085,054$0$0$12,579,110
93$20,910,167$0$0$13,784,617
94$22,917,612$0$0$15,110,642
95$25,125,867$0$0$16,569,402
96$27,555,290$0$0$18,174,356
97$30,228,311$0$0$19,940,334
98$33,169,645$0$0$21,883,675
99$36,406,524$0$0$24,022,385
100$39,968,952$0$0$26,376,300