Can I retire at age 55 with 940,000?

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 $940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$77,624$76,933$76,258$75,600$74,957$72,471
2 years$38,428$37,712$37,019$36,346$35,694$33,213
3 years$25,364$24,645$23,953$23,287$22,646$20,248
4 years$18,834$18,117$17,432$16,777$16,151$13,855
5 years$14,916$14,204$13,528$12,886$12,278$10,090
6 years$12,305$11,599$10,933$10,305$9,715$7,637
7 years$10,441$9,740$9,085$8,473$7,901$5,932
8 years$9,044$8,349$7,705$7,108$6,555$4,694
9 years$7,958$7,270$6,636$6,054$5,520$3,765
10 years$7,089$6,408$5,786$5,219$4,703$3,051
11 years$6,379$5,704$5,094$4,542$4,045$2,492
12 years$5,788$5,120$4,520$3,984$3,505$2,049
13 years$5,288$4,627$4,039$3,517$3,057$1,693
14 years$4,859$4,206$3,629$3,122$2,679$1,405
15 years$4,489$3,842$3,276$2,784$2,359$1,169
16 years$4,165$3,525$2,970$2,493$2,085$976
17 years$3,879$3,246$2,703$2,240$1,849$816
18 years$3,625$3,000$2,467$2,019$1,644$684
19 years$3,399$2,780$2,259$1,824$1,465$574
20 years$3,195$2,584$2,073$1,652$1,309$482
21 years$3,011$2,406$1,907$1,499$1,171$406
22 years$2,843$2,246$1,757$1,363$1,050$342
23 years$2,691$2,101$1,623$1,242$942$288
24 years$2,552$1,968$1,501$1,132$847$243
25 years$2,423$1,847$1,390$1,034$762$205
26 years$2,305$1,736$1,289$946$687$173
27 years$2,196$1,634$1,197$865$619$146
28 years$2,095$1,540$1,113$793$559$123
29 years$2,001$1,452$1,036$727$504$104
30 years$1,913$1,372$965$667$456$88
31 years$1,832$1,297$899$613$412$74
32 years$1,755$1,227$839$563$373$63
33 years$1,683$1,162$783$518$337$53
34 years$1,616$1,101$732$477$305$45
35 years$1,553$1,045$684$439$277$38
36 years$1,493$991$640$404$251$32
37 years$1,437$942$599$372$227$27
38 years$1,383$895$561$343$206$23
39 years$1,333$851$526$316$187$19
40 years$1,285$810$493$292$169$16
41 years$1,240$771$462$269$154$14
42 years$1,197$734$433$248$139$12
43 years$1,156$699$407$229$127$10
44 years$1,117$667$382$212$115$8
45 years$1,080$636$358$196$104$7
46 years$1,044$606$337$181$95$6
47 years$1,011$579$316$167$86$5
48 years$978$552$297$154$78$4
49 years$947$528$279$143$71$4
50 years$918$504$263$132$64$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $940,000, adding $3,201 every year, while hoping to spend $20,814 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: 22/50/28 Blend
54$940,000$940,000$940,000$940,000
55$1,039,182$989,362$974,792$1,052,759
56$1,123,032$1,015,695$985,301$1,091,374
57$1,214,738$1,042,620$995,465$1,130,710
58$1,315,078$1,070,145$1,005,250$1,172,345
59$1,424,911$1,098,277$1,014,621$1,216,482
60$1,545,181$1,127,022$1,023,540$1,263,341
61$1,676,929$1,156,385$1,031,968$1,313,166
62$1,821,300$1,186,373$1,039,863$1,366,227
63$1,979,557$1,216,989$1,047,183$1,422,818
64$2,153,090$1,248,240$1,053,882$1,483,268
65$2,343,429$1,280,127$1,059,910$1,547,933
66$2,552,260$1,312,655$1,065,219$1,617,211
67$2,781,440$1,345,825$1,069,754$1,691,537
68$3,033,016$1,379,639$1,073,459$1,771,393
69$3,309,241$1,414,098$1,076,277$1,857,307
70$3,612,596$1,449,202$1,078,145$1,949,863
71$3,945,817$1,484,949$1,078,999$2,049,706
72$4,311,915$1,521,337$1,078,771$2,157,545
73$4,714,210$1,558,361$1,077,389$2,274,161
74$5,156,357$1,596,018$1,074,779$2,400,418
75$5,642,384$1,634,302$1,070,862$2,537,265
76$6,176,727$1,673,203$1,065,557$2,685,751
77$6,764,277$1,712,714$1,058,776$2,847,031
78$7,410,419$1,752,822$1,050,431$3,022,379
79$8,121,087$1,793,516$1,040,426$3,213,199
80$8,902,820$1,834,780$1,028,662$3,421,041
81$9,762,821$1,876,597$1,015,035$3,647,613
82$10,709,027$1,918,949$999,437$3,894,796
83$11,750,184$1,961,814$981,755$4,164,668
84$12,895,927$2,005,167$961,868$4,459,517
85$14,156,874$2,048,983$939,653$4,781,867
86$15,544,722$2,093,230$914,978$5,134,501
87$17,072,362$2,137,877$887,708$5,520,487
88$18,753,997$2,182,887$857,701$5,943,209
89$20,605,277$2,228,220$824,806$6,406,398
90$22,643,446$2,273,833$788,867$6,914,165
91$24,887,506$2,319,679$749,722$7,471,046
92$27,358,394$2,365,706$707,201$8,082,041
93$30,079,182$2,411,858$661,124$8,752,662
94$33,075,293$2,458,074$611,306$9,488,986
95$36,374,740$2,504,287$557,552$10,297,716
96$40,008,393$2,550,426$499,660$11,186,237
97$44,010,266$2,596,414$437,415$12,162,696
98$48,417,843$2,642,167$370,598$13,236,071
99$53,272,426$2,687,597$298,976$14,416,262
100$58,619,529$2,732,605$222,307$15,714,183