Can I retire at age 55 with 941,000?

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 $941,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$77,707$77,015$76,339$75,680$75,037$73,104
2 years$38,469$37,752$37,058$36,385$35,732$33,798
3 years$25,391$24,672$23,979$23,312$22,670$20,794
4 years$18,854$18,136$17,451$16,795$16,168$14,366
5 years$14,932$14,219$13,542$12,900$12,291$10,567
6 years$12,319$11,611$10,944$10,316$9,725$8,082
7 years$10,453$9,751$9,095$8,482$7,909$6,346
8 years$9,054$8,358$7,713$7,115$6,562$5,077
9 years$7,966$7,277$6,643$6,060$5,526$4,120
10 years$7,097$6,415$5,792$5,224$4,708$3,379
11 years$6,386$5,711$5,099$4,547$4,049$2,794
12 years$5,794$5,125$4,525$3,988$3,509$2,326
13 years$5,293$4,632$4,043$3,521$3,060$1,947
14 years$4,865$4,210$3,633$3,125$2,682$1,636
15 years$4,493$3,846$3,280$2,787$2,362$1,381
16 years$4,169$3,529$2,974$2,496$2,087$1,168
17 years$3,883$3,250$2,706$2,242$1,851$991
18 years$3,629$3,003$2,470$2,021$1,646$842
19 years$3,402$2,783$2,261$1,826$1,467$717
20 years$3,198$2,586$2,075$1,654$1,310$611
21 years$3,014$2,409$1,909$1,501$1,172$522
22 years$2,847$2,249$1,759$1,365$1,051$446
23 years$2,694$2,103$1,624$1,243$943$381
24 years$2,554$1,971$1,502$1,134$848$327
25 years$2,426$1,849$1,391$1,035$763$280
26 years$2,308$1,738$1,290$947$687$240
27 years$2,199$1,636$1,198$866$620$206
28 years$2,097$1,541$1,114$794$559$176
29 years$2,003$1,454$1,037$728$505$151
30 years$1,915$1,373$966$668$456$130
31 years$1,834$1,298$900$614$412$111
32 years$1,757$1,228$840$564$373$96
33 years$1,685$1,163$784$519$338$82
34 years$1,618$1,102$733$477$306$71
35 years$1,554$1,046$685$439$277$61
36 years$1,495$992$641$404$251$52
37 years$1,438$943$600$373$227$45
38 years$1,385$896$562$344$206$39
39 years$1,334$852$526$317$187$33
40 years$1,286$810$493$292$170$28
41 years$1,241$771$463$270$154$24
42 years$1,198$735$434$249$140$21
43 years$1,157$700$407$230$127$18
44 years$1,118$667$382$212$115$16
45 years$1,081$636$359$196$104$13
46 years$1,045$607$337$181$95$11
47 years$1,012$579$317$167$86$10
48 years$979$553$298$154$78$8
49 years$948$528$280$143$71$7
50 years$919$504$263$132$64$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $941,000, adding $5,574 every year, while hoping to spend $25,823 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: 54/39/7 Blend
54$941,000$941,000$941,000$941,000
55$1,042,732$992,859$978,273$1,097,030
56$1,121,615$1,014,033$983,570$1,155,561
57$1,207,678$1,035,380$988,178$1,215,908
58$1,301,628$1,056,880$992,049$1,280,960
59$1,404,240$1,078,512$995,128$1,351,165
60$1,516,368$1,100,255$997,360$1,427,020
61$1,638,953$1,122,083$998,687$1,509,069
62$1,773,031$1,143,971$999,049$1,597,914
63$1,919,743$1,165,888$998,379$1,694,217
64$2,080,344$1,187,804$996,612$1,798,708
65$2,256,217$1,209,684$993,677$1,912,191
66$2,448,885$1,231,493$989,499$2,035,551
67$2,660,026$1,253,190$984,001$2,169,766
68$2,891,485$1,274,732$977,102$2,315,910
69$3,145,297$1,296,075$968,715$2,475,169
70$3,423,703$1,317,168$958,753$2,648,851
71$3,729,170$1,337,959$947,121$2,838,394
72$4,064,416$1,358,390$933,720$3,045,388
73$4,432,436$1,378,401$918,450$3,271,580
74$4,836,528$1,397,926$901,201$3,518,899
75$5,280,325$1,416,895$881,862$3,789,471
76$5,767,829$1,435,234$860,316$4,085,638
77$6,303,449$1,452,862$836,437$4,409,982
78$6,892,042$1,469,693$810,100$4,765,350
79$7,538,960$1,485,637$781,167$5,154,878
80$8,250,096$1,500,596$749,499$5,582,025
81$9,031,947$1,514,467$714,948$6,050,603
82$9,891,667$1,527,137$677,361$6,564,814
83$10,837,141$1,538,490$636,576$7,129,289
84$11,877,053$1,548,400$592,425$7,749,133
85$13,020,974$1,556,733$544,732$8,429,974
86$14,279,447$1,563,347$493,314$9,178,015
87$15,664,090$1,568,090$437,980$10,000,093
88$17,187,703$1,570,802$378,528$10,903,747
89$18,864,389$1,571,312$314,749$11,897,282
90$20,709,689$1,569,439$246,426$12,989,859
91$22,740,725$1,564,989$173,329$14,191,569
92$24,976,365$1,557,759$95,221$15,513,541
93$27,437,396$1,547,531$11,853$16,968,038
94$30,146,726$1,534,076$0$18,568,580
95$33,129,595$1,517,149$0$20,335,826
96$36,413,816$1,496,491$0$22,281,761
97$40,030,034$1,471,829$0$24,423,623
98$44,012,021$1,442,871$0$26,781,390
99$48,396,986$1,409,311$0$29,377,078
100$53,225,933$1,370,822$0$32,234,956