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%19.3%
1 years$77,707$77,015$76,339$75,680$75,037$72,231
2 years$38,469$37,752$37,058$36,385$35,732$32,937
3 years$25,391$24,672$23,979$23,312$22,670$19,974
4 years$18,854$18,136$17,451$16,795$16,168$13,592
5 years$14,932$14,219$13,542$12,900$12,291$9,841
6 years$12,319$11,611$10,944$10,316$9,725$7,403
7 years$10,453$9,751$9,095$8,482$7,909$5,715
8 years$9,054$8,358$7,713$7,115$6,562$4,492
9 years$7,966$7,277$6,643$6,060$5,526$3,579
10 years$7,097$6,415$5,792$5,224$4,708$2,880
11 years$6,386$5,711$5,099$4,547$4,049$2,336
12 years$5,794$5,125$4,525$3,988$3,509$1,907
13 years$5,293$4,632$4,043$3,521$3,060$1,564
14 years$4,865$4,210$3,633$3,125$2,682$1,287
15 years$4,493$3,846$3,280$2,787$2,362$1,063
16 years$4,169$3,529$2,974$2,496$2,087$880
17 years$3,883$3,250$2,706$2,242$1,851$730
18 years$3,629$3,003$2,470$2,021$1,646$607
19 years$3,402$2,783$2,261$1,826$1,467$505
20 years$3,198$2,586$2,075$1,654$1,310$421
21 years$3,014$2,409$1,909$1,501$1,172$351
22 years$2,847$2,249$1,759$1,365$1,051$293
23 years$2,694$2,103$1,624$1,243$943$245
24 years$2,554$1,971$1,502$1,134$848$205
25 years$2,426$1,849$1,391$1,035$763$171
26 years$2,308$1,738$1,290$947$687$143
27 years$2,199$1,636$1,198$866$620$120
28 years$2,097$1,541$1,114$794$559$100
29 years$2,003$1,454$1,037$728$505$84
30 years$1,915$1,373$966$668$456$70
31 years$1,834$1,298$900$614$412$59
32 years$1,757$1,228$840$564$373$49
33 years$1,685$1,163$784$519$338$41
34 years$1,618$1,102$733$477$306$35
35 years$1,554$1,046$685$439$277$29
36 years$1,495$992$641$404$251$24
37 years$1,438$943$600$373$227$20
38 years$1,385$896$562$344$206$17
39 years$1,334$852$526$317$187$14
40 years$1,286$810$493$292$170$12
41 years$1,241$771$463$270$154$10
42 years$1,198$735$434$249$140$8
43 years$1,157$700$407$230$127$7
44 years$1,118$667$382$212$115$6
45 years$1,081$636$359$196$104$5
46 years$1,045$607$337$181$95$4
47 years$1,012$579$317$167$86$3
48 years$979$553$298$154$78$3
49 years$948$528$280$143$71$2
50 years$919$504$263$132$64$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $941,000, adding $6,000 every year, while hoping to spend $32,497 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: 26/46/28 Blend
54$941,000$941,000$941,000$941,000
55$1,043,171$993,298$978,713$1,061,054
56$1,114,998$1,007,393$976,923$1,090,299
57$1,193,062$1,021,090$973,984$1,118,488
58$1,277,965$1,034,334$969,823$1,148,067
59$1,370,369$1,047,068$964,364$1,179,176
60$1,471,004$1,059,231$957,527$1,211,970
61$1,580,670$1,070,757$949,228$1,246,624
62$1,700,250$1,081,576$939,379$1,283,330
63$1,830,715$1,091,613$927,888$1,322,306
64$1,973,134$1,100,788$914,658$1,363,790
65$2,128,685$1,109,018$899,590$1,408,051
66$2,298,662$1,116,210$882,577$1,455,384
67$2,484,491$1,122,270$863,509$1,506,121
68$2,687,742$1,127,095$842,270$1,560,628
69$2,910,145$1,130,576$818,740$1,619,314
70$3,153,604$1,132,598$792,791$1,682,631
71$3,420,213$1,133,037$764,292$1,751,084
72$3,712,283$1,131,764$733,103$1,825,229
73$4,032,354$1,128,639$699,081$1,905,687
74$4,383,228$1,123,516$662,073$1,993,146
75$4,767,987$1,116,238$621,923$2,088,368
76$5,190,028$1,106,640$578,464$2,192,198
77$5,653,093$1,094,547$531,524$2,305,575
78$6,161,301$1,079,772$480,922$2,429,536
79$6,719,191$1,062,118$426,471$2,565,233
80$7,331,763$1,041,377$367,972$2,713,940
81$8,004,525$1,017,326$305,221$2,877,069
82$8,743,543$989,732$238,003$3,056,185
83$9,555,502$958,347$166,094$3,253,016
84$10,447,765$922,907$89,259$3,469,478
85$11,428,443$883,135$7,255$3,707,692
86$12,506,472$838,737$0$3,970,002
87$13,691,699$789,402$0$4,282,979
88$14,994,971$734,801$0$4,629,387
89$16,428,237$674,586$0$5,010,312
90$18,004,667$608,390$0$5,429,348
91$19,738,765$535,823$0$5,890,464
92$21,646,516$456,476$0$6,398,040
93$23,745,532$369,914$0$6,956,912
94$26,055,216$275,680$0$7,572,419
95$28,596,949$173,289$0$8,250,451
96$31,394,287$62,230$0$8,997,510
97$34,473,188$0$0$9,820,774
98$37,862,253$0$0$10,757,537
99$41,592,995$0$0$11,823,611
100$45,700,140$0$0$12,997,441