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%15.6%
1 years$77,624$76,933$76,258$75,600$74,957$73,234
2 years$38,428$37,712$37,019$36,346$35,694$33,968
3 years$25,364$24,645$23,953$23,287$22,646$20,970
4 years$18,834$18,117$17,432$16,777$16,151$14,539
5 years$14,916$14,204$13,528$12,886$12,278$10,734
6 years$12,305$11,599$10,933$10,305$9,715$8,240
7 years$10,441$9,740$9,085$8,473$7,901$6,496
8 years$9,044$8,349$7,705$7,108$6,555$5,219
9 years$7,958$7,270$6,636$6,054$5,520$4,252
10 years$7,089$6,408$5,786$5,219$4,703$3,503
11 years$6,379$5,704$5,094$4,542$4,045$2,910
12 years$5,788$5,120$4,520$3,984$3,505$2,433
13 years$5,288$4,627$4,039$3,517$3,057$2,046
14 years$4,859$4,206$3,629$3,122$2,679$1,728
15 years$4,489$3,842$3,276$2,784$2,359$1,465
16 years$4,165$3,525$2,970$2,493$2,085$1,246
17 years$3,879$3,246$2,703$2,240$1,849$1,062
18 years$3,625$3,000$2,467$2,019$1,644$907
19 years$3,399$2,780$2,259$1,824$1,465$777
20 years$3,195$2,584$2,073$1,652$1,309$666
21 years$3,011$2,406$1,907$1,499$1,171$571
22 years$2,843$2,246$1,757$1,363$1,050$491
23 years$2,691$2,101$1,623$1,242$942$422
24 years$2,552$1,968$1,501$1,132$847$363
25 years$2,423$1,847$1,390$1,034$762$313
26 years$2,305$1,736$1,289$946$687$270
27 years$2,196$1,634$1,197$865$619$233
28 years$2,095$1,540$1,113$793$559$201
29 years$2,001$1,452$1,036$727$504$173
30 years$1,913$1,372$965$667$456$150
31 years$1,832$1,297$899$613$412$129
32 years$1,755$1,227$839$563$373$112
33 years$1,683$1,162$783$518$337$96
34 years$1,616$1,101$732$477$305$83
35 years$1,553$1,045$684$439$277$72
36 years$1,493$991$640$404$251$62
37 years$1,437$942$599$372$227$54
38 years$1,383$895$561$343$206$46
39 years$1,333$851$526$316$187$40
40 years$1,285$810$493$292$169$35
41 years$1,240$771$462$269$154$30
42 years$1,197$734$433$248$139$26
43 years$1,156$699$407$229$127$22
44 years$1,117$667$382$212$115$19
45 years$1,080$636$358$196$104$17
46 years$1,044$606$337$181$95$15
47 years$1,011$579$316$167$86$13
48 years$978$552$297$154$78$11
49 years$947$528$279$143$71$9
50 years$918$504$263$132$64$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $940,000, adding $4,515 every year, while hoping to spend $53,351 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: 64/12/24 Blend
54$940,000$940,000$940,000$940,000
55$1,040,537$990,717$976,147$1,100,336
56$1,089,907$982,497$952,083$1,133,017
57$1,142,524$972,087$925,425$1,162,346
58$1,198,664$959,321$896,029$1,193,188
59$1,258,628$944,028$863,746$1,225,697
60$1,322,745$926,023$828,419$1,260,044
61$1,391,379$905,111$789,884$1,296,420
62$1,464,924$881,087$747,970$1,335,035
63$1,543,818$853,731$702,498$1,376,125
64$1,628,537$822,814$653,282$1,419,952
65$1,719,606$788,090$600,125$1,466,807
66$1,817,600$749,300$542,823$1,517,011
67$1,923,151$706,172$481,164$1,570,924
68$2,036,953$658,415$414,924$1,628,944
69$2,159,769$605,724$343,870$1,691,512
70$2,292,436$547,775$267,760$1,759,119
71$2,435,875$484,226$186,340$1,832,307
72$2,591,097$414,716$99,346$1,911,679
73$2,759,215$338,863$6,500$1,997,904
74$2,941,451$256,264$0$2,091,722
75$3,139,151$166,492$0$2,217,661
76$3,353,792$69,099$0$2,356,239
77$3,587,002$0$0$2,506,877
78$3,840,570$0$0$2,675,578
79$4,116,464$0$0$2,869,119
80$4,416,851$0$0$3,079,900
81$4,744,113$0$0$3,309,601
82$5,100,872$0$0$3,560,073
83$5,490,017$0$0$3,833,348
84$5,914,723$0$0$4,131,667
85$6,378,488$0$0$4,457,496
86$6,885,161$0$0$4,813,547
87$7,438,982$0$0$5,202,809
88$8,044,615$0$0$5,628,572
89$8,707,199$0$0$6,094,457
90$9,432,391$0$0$6,604,454
91$10,226,419$0$0$7,162,954
92$11,096,144$0$0$7,774,793
93$12,049,120$0$0$8,445,298
94$13,093,666$0$0$9,180,335
95$14,238,945$0$0$9,986,365
96$15,495,049$0$0$10,870,504
97$16,873,093$0$0$11,840,589
98$18,385,321$0$0$12,905,253
99$20,045,217$0$0$14,074,006
100$21,867,638$0$0$15,357,324