Can I retire at age 55 with 938,000?

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 $938,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$77,459$76,769$76,096$75,439$74,797$73,377
2 years$38,346$37,632$36,940$36,269$35,618$34,193
3 years$25,310$24,593$23,903$23,238$22,597$21,212
4 years$18,793$18,078$17,395$16,741$16,117$14,781
5 years$14,884$14,174$13,499$12,859$12,252$10,970
6 years$12,279$11,574$10,909$10,283$9,694$8,467
7 years$10,419$9,720$9,066$8,455$7,884$6,713
8 years$9,025$8,332$7,688$7,092$6,541$5,425
9 years$7,941$7,254$6,622$6,041$5,508$4,447
10 years$7,074$6,394$5,773$5,208$4,693$3,685
11 years$6,365$5,692$5,083$4,532$4,036$3,081
12 years$5,775$5,109$4,511$3,975$3,498$2,593
13 years$5,276$4,617$4,030$3,510$3,050$2,195
14 years$4,849$4,197$3,621$3,115$2,674$1,867
15 years$4,479$3,834$3,269$2,778$2,354$1,594
16 years$4,156$3,518$2,964$2,488$2,081$1,365
17 years$3,871$3,240$2,697$2,235$1,845$1,172
18 years$3,618$2,993$2,462$2,014$1,640$1,008
19 years$3,391$2,774$2,254$1,820$1,462$870
20 years$3,188$2,578$2,069$1,649$1,306$751
21 years$3,004$2,401$1,903$1,496$1,169$650
22 years$2,837$2,242$1,754$1,360$1,048$562
23 years$2,685$2,096$1,619$1,239$940$488
24 years$2,546$1,964$1,497$1,130$845$423
25 years$2,418$1,843$1,387$1,032$761$367
26 years$2,300$1,732$1,286$944$685$319
27 years$2,192$1,630$1,194$864$618$277
28 years$2,091$1,536$1,110$791$557$241
29 years$1,997$1,449$1,033$726$503$210
30 years$1,909$1,369$963$666$455$183
31 years$1,828$1,294$897$612$411$159
32 years$1,751$1,224$837$562$372$139
33 years$1,680$1,159$782$517$337$121
34 years$1,613$1,099$730$476$305$105
35 years$1,549$1,042$683$438$276$92
36 years$1,490$989$639$403$250$80
37 years$1,434$940$598$371$227$70
38 years$1,380$893$560$342$205$61
39 years$1,330$849$525$316$186$53
40 years$1,282$808$492$291$169$46
41 years$1,237$769$461$269$153$40
42 years$1,194$732$432$248$139$35
43 years$1,153$698$406$229$126$31
44 years$1,114$665$381$211$115$27
45 years$1,077$634$358$195$104$23
46 years$1,042$605$336$180$94$20
47 years$1,008$577$316$167$86$18
48 years$976$551$297$154$78$15
49 years$945$526$279$142$71$14
50 years$916$503$262$131$64$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $938,000, adding $5,663 every year, while hoping to spend $37,440 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: 50/45/5 Blend
54$938,000$938,000$938,000$938,000
55$1,039,517$989,803$975,264$1,089,971
56$1,105,712$998,468$968,100$1,133,578
57$1,177,404$1,006,302$959,441$1,176,424
58$1,255,114$1,013,226$949,197$1,222,078
59$1,339,416$1,019,154$937,275$1,270,810
60$1,430,939$1,023,995$923,576$1,322,920
61$1,530,377$1,027,653$907,998$1,378,738
62$1,638,492$1,030,024$890,432$1,438,631
63$1,756,123$1,031,001$870,767$1,503,003
64$1,884,194$1,030,466$848,884$1,572,304
65$2,023,720$1,028,297$824,660$1,647,027
66$2,175,819$1,024,363$797,965$1,727,720
67$2,341,720$1,018,524$768,665$1,814,990
68$2,522,779$1,010,635$736,618$1,909,505
69$2,720,484$1,000,539$701,677$2,012,005
70$2,936,478$988,070$663,688$2,123,309
71$3,172,566$973,052$622,489$2,244,321
72$3,430,737$955,301$577,911$2,376,039
73$3,713,181$934,619$529,780$2,519,569
74$4,022,307$910,798$477,909$2,676,132
75$4,360,772$883,616$422,109$2,847,075
76$4,731,498$852,840$362,176$3,033,889
77$5,137,705$818,223$297,903$3,238,221
78$5,582,938$779,503$229,070$3,461,890
79$6,071,102$736,403$155,448$3,706,904
80$6,606,498$688,631$76,800$3,975,483
81$7,193,863$635,876$0$4,270,079
82$7,838,414$577,811$0$4,593,779
83$8,545,899$514,091$0$4,953,589
84$9,322,649$444,350$0$5,348,723
85$10,175,637$368,200$0$5,782,842
86$11,112,545$285,235$0$6,259,986
87$12,141,836$195,023$0$6,784,614
88$13,272,832$97,109$0$7,361,648
89$14,515,805$0$0$7,996,521
90$15,882,070$0$0$8,699,678
91$17,384,091$0$0$9,525,675
92$19,035,603$0$0$10,433,989
93$20,851,737$0$0$11,432,958
94$22,849,163$0$0$12,531,765
95$25,046,249$0$0$13,740,529
96$27,463,231$0$0$15,070,398
97$30,122,408$0$0$16,533,656
98$33,048,345$0$0$18,143,837
99$36,268,111$0$0$19,915,856
100$39,811,531$0$0$21,866,143