Can I retire at age 55 with 943,000?

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 $943,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$77,872$77,178$76,502$75,841$75,196$74,380
2 years$38,551$37,833$37,137$36,462$35,808$34,986
3 years$25,445$24,724$24,030$23,362$22,718$21,916
4 years$18,894$18,175$17,488$16,831$16,203$15,427
5 years$14,964$14,249$13,571$12,928$12,317$11,569
6 years$12,345$11,636$10,967$10,338$9,746$9,028
7 years$10,475$9,772$9,114$8,500$7,926$7,237
8 years$9,073$8,376$7,729$7,130$6,575$5,916
9 years$7,983$7,293$6,657$6,073$5,537$4,908
10 years$7,112$6,428$5,804$5,235$4,718$4,117
11 years$6,399$5,723$5,110$4,556$4,058$3,485
12 years$5,806$5,136$4,535$3,996$3,516$2,971
13 years$5,305$4,642$4,052$3,528$3,066$2,549
14 years$4,875$4,219$3,640$3,132$2,688$2,197
15 years$4,503$3,854$3,287$2,793$2,367$1,901
16 years$4,178$3,536$2,980$2,501$2,092$1,651
17 years$3,891$3,257$2,712$2,247$1,855$1,438
18 years$3,637$3,009$2,475$2,025$1,649$1,255
19 years$3,409$2,789$2,266$1,830$1,470$1,098
20 years$3,205$2,592$2,080$1,657$1,313$963
21 years$3,020$2,414$1,913$1,504$1,175$845
22 years$2,853$2,254$1,763$1,368$1,053$743
23 years$2,700$2,108$1,628$1,245$945$654
24 years$2,560$1,975$1,505$1,136$850$577
25 years$2,431$1,853$1,394$1,037$765$509
26 years$2,313$1,742$1,293$949$689$449
27 years$2,203$1,639$1,201$868$621$397
28 years$2,102$1,545$1,116$795$560$351
29 years$2,007$1,457$1,039$729$506$310
30 years$1,920$1,376$968$669$457$274
31 years$1,837$1,301$902$615$413$243
32 years$1,761$1,231$842$565$374$215
33 years$1,689$1,166$786$520$338$190
34 years$1,621$1,105$734$478$306$169
35 years$1,558$1,048$687$440$277$150
36 years$1,498$995$642$405$251$133
37 years$1,441$945$601$373$228$118
38 years$1,388$898$563$344$207$104
39 years$1,337$854$527$317$187$92
40 years$1,289$812$494$293$170$82
41 years$1,244$773$464$270$154$73
42 years$1,201$736$435$249$140$65
43 years$1,160$702$408$230$127$57
44 years$1,120$669$383$212$115$51
45 years$1,083$638$360$196$105$45
46 years$1,048$608$338$181$95$40
47 years$1,014$581$317$167$86$36
48 years$981$554$298$155$78$32
49 years$950$529$280$143$71$28
50 years$921$506$263$132$65$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $943,000, adding $6,429 every year, while hoping to spend $54,661 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: 81/12/7 Blend
54$943,000$943,000$943,000$943,000
55$1,045,818$995,839$981,222$1,129,258
56$1,094,332$986,476$955,934$1,175,441
57$1,145,963$974,822$927,967$1,218,204
58$1,200,971$960,708$897,173$1,263,472
59$1,259,640$943,953$863,399$1,311,466
60$1,322,283$924,366$826,482$1,362,428
61$1,389,241$901,745$786,255$1,416,627
62$1,460,890$875,877$742,541$1,474,358
63$1,537,640$846,535$695,155$1,535,946
64$1,619,943$813,478$643,906$1,601,749
65$1,708,292$776,454$588,593$1,672,162
66$1,803,232$735,194$529,004$1,747,622
67$1,905,357$689,414$464,921$1,828,609
68$2,015,322$638,814$396,115$1,915,653
69$2,133,845$583,076$322,345$2,009,338
70$2,261,716$521,866$243,362$2,110,308
71$2,399,802$454,828$158,906$2,219,274
72$2,549,055$381,588$68,703$2,337,020
73$2,710,523$301,750$0$2,464,411
74$2,885,357$214,896$0$2,604,459
75$3,074,823$120,585$0$2,761,767
76$3,280,311$18,350$0$2,932,382
77$3,503,353$0$0$3,117,607
78$3,745,631$0$0$3,331,069
79$4,008,997$0$0$3,565,766
80$4,295,487$0$0$3,821,091
81$4,607,343$0$0$4,099,046
82$4,947,031$0$0$4,401,831
83$5,317,263$0$0$4,731,867
84$5,721,027$0$0$5,091,820
85$6,161,608$0$0$5,484,623
86$6,642,626$0$0$5,913,506
87$7,168,062$0$0$6,382,022
88$7,742,302$0$0$6,894,085
89$8,370,171$0$0$7,454,003
90$9,056,985$0$0$8,066,519
91$9,808,595$0$0$8,736,857
92$10,631,444$0$0$9,470,766
93$11,532,630$0$0$10,274,582
94$12,519,965$0$0$11,155,277
95$13,602,054$0$0$12,120,532
96$14,788,376$0$0$13,178,807
97$16,089,368$0$0$14,339,419
98$17,516,528$0$0$15,612,629
99$19,082,519$0$0$17,009,740
100$20,801,289$0$0$18,543,202