Can I retire at age 55 with 940,000?

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 $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%18.6%
1 years$77,624$76,933$76,258$75,600$74,957$72,355
2 years$38,428$37,712$37,019$36,346$35,694$33,099
3 years$25,364$24,645$23,953$23,287$22,646$20,140
4 years$18,834$18,117$17,432$16,777$16,151$13,754
5 years$14,916$14,204$13,528$12,886$12,278$9,995
6 years$12,305$11,599$10,933$10,305$9,715$7,548
7 years$10,441$9,740$9,085$8,473$7,901$5,850
8 years$9,044$8,349$7,705$7,108$6,555$4,618
9 years$7,958$7,270$6,636$6,054$5,520$3,695
10 years$7,089$6,408$5,786$5,219$4,703$2,987
11 years$6,379$5,704$5,094$4,542$4,045$2,434
12 years$5,788$5,120$4,520$3,984$3,505$1,995
13 years$5,288$4,627$4,039$3,517$3,057$1,644
14 years$4,859$4,206$3,629$3,122$2,679$1,360
15 years$4,489$3,842$3,276$2,784$2,359$1,129
16 years$4,165$3,525$2,970$2,493$2,085$940
17 years$3,879$3,246$2,703$2,240$1,849$784
18 years$3,625$3,000$2,467$2,019$1,644$655
19 years$3,399$2,780$2,259$1,824$1,465$548
20 years$3,195$2,584$2,073$1,652$1,309$459
21 years$3,011$2,406$1,907$1,499$1,171$385
22 years$2,843$2,246$1,757$1,363$1,050$323
23 years$2,691$2,101$1,623$1,242$942$271
24 years$2,552$1,968$1,501$1,132$847$228
25 years$2,423$1,847$1,390$1,034$762$192
26 years$2,305$1,736$1,289$946$687$161
27 years$2,196$1,634$1,197$865$619$136
28 years$2,095$1,540$1,113$793$559$114
29 years$2,001$1,452$1,036$727$504$96
30 years$1,913$1,372$965$667$456$81
31 years$1,832$1,297$899$613$412$68
32 years$1,755$1,227$839$563$373$58
33 years$1,683$1,162$783$518$337$49
34 years$1,616$1,101$732$477$305$41
35 years$1,553$1,045$684$439$277$34
36 years$1,493$991$640$404$251$29
37 years$1,437$942$599$372$227$24
38 years$1,383$895$561$343$206$21
39 years$1,333$851$526$316$187$17
40 years$1,285$810$493$292$169$15
41 years$1,240$771$462$269$154$12
42 years$1,197$734$433$248$139$10
43 years$1,156$699$407$229$127$9
44 years$1,117$667$382$212$115$7
45 years$1,080$636$358$196$104$6
46 years$1,044$606$337$181$95$5
47 years$1,011$579$316$167$86$4
48 years$978$552$297$154$78$4
49 years$947$528$279$143$71$3
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 $6,537 every year, while hoping to spend $20,207 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: 72/18/10 Blend
54$940,000$940,000$940,000$940,000
55$1,042,623$992,803$978,233$1,115,243
56$1,127,470$1,019,950$989,504$1,191,273
57$1,220,295$1,047,750$1,000,475$1,271,365
58$1,321,889$1,076,214$1,011,115$1,358,508
59$1,433,125$1,105,352$1,021,390$1,453,392
60$1,554,964$1,135,175$1,031,267$1,556,780
61$1,688,464$1,165,692$1,040,708$1,669,507
62$1,834,790$1,196,913$1,049,674$1,792,498
63$1,995,226$1,228,849$1,058,125$1,926,767
64$2,171,184$1,261,508$1,066,018$2,073,434
65$2,364,222$1,294,899$1,073,307$2,233,731
66$2,576,055$1,329,031$1,079,945$2,409,015
67$2,808,571$1,363,912$1,085,882$2,600,781
68$3,063,851$1,399,550$1,091,065$2,810,677
69$3,344,188$1,435,951$1,095,439$3,040,517
70$3,652,105$1,473,123$1,098,946$3,292,298
71$3,990,384$1,511,070$1,101,525$3,568,224
72$4,362,089$1,549,799$1,103,112$3,870,718
73$4,770,595$1,589,312$1,103,640$4,202,455
74$5,219,622$1,629,615$1,103,038$4,566,376
75$5,713,266$1,670,708$1,101,232$4,965,727
76$6,256,041$1,712,595$1,098,145$5,404,081
77$6,852,919$1,755,274$1,093,695$5,885,375
78$7,509,380$1,798,746$1,087,797$6,413,947
79$8,231,460$1,843,008$1,080,362$6,994,578
80$9,025,811$1,888,057$1,071,295$7,632,535
81$9,899,759$1,933,887$1,060,499$8,333,621
82$10,861,380$1,980,493$1,047,871$9,104,230
83$11,919,569$2,027,865$1,033,303$9,951,408
84$13,084,128$2,075,994$1,016,682$10,882,920
85$14,365,859$2,124,867$997,891$11,907,321
86$15,776,661$2,174,471$976,805$13,034,037
87$17,329,648$2,224,787$953,295$14,273,458
88$19,039,269$2,275,798$927,227$15,637,028
89$20,921,443$2,327,481$898,458$17,137,363
90$22,993,715$2,379,812$866,841$18,788,361
91$25,275,414$2,432,764$832,221$20,605,339
92$27,787,842$2,486,304$794,436$22,605,176
93$30,554,469$2,540,400$753,316$24,806,470
94$33,601,158$2,595,013$708,685$27,229,717
95$36,956,408$2,650,101$660,358$29,897,502
96$40,651,624$2,705,618$608,143$32,834,715
97$44,721,410$2,761,514$551,836$36,068,781
98$49,203,899$2,817,733$491,228$39,629,926
99$54,141,110$2,874,216$426,098$43,551,454
100$59,579,347$2,930,896$356,216$47,870,069