Can I retire at age 55 with 944,000?

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 $944,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$77,955$77,260$76,583$75,922$75,276$73,042
2 years$38,591$37,873$37,176$36,501$35,846$33,613
3 years$25,472$24,750$24,055$23,386$22,742$20,581
4 years$18,914$18,194$17,506$16,849$16,220$14,147
5 years$14,980$14,264$13,586$12,941$12,330$10,352
6 years$12,358$11,648$10,979$10,349$9,756$7,874
7 years$10,486$9,782$9,124$8,509$7,934$6,147
8 years$9,082$8,385$7,738$7,138$6,582$4,890
9 years$7,992$7,301$6,664$6,080$5,543$3,944
10 years$7,119$6,435$5,810$5,241$4,723$3,214
11 years$6,406$5,729$5,115$4,561$4,062$2,641
12 years$5,812$5,142$4,540$4,001$3,520$2,184
13 years$5,310$4,647$4,056$3,532$3,070$1,816
14 years$4,880$4,224$3,644$3,135$2,691$1,516
15 years$4,508$3,858$3,290$2,796$2,369$1,270
16 years$4,182$3,540$2,983$2,504$2,094$1,067
17 years$3,895$3,260$2,714$2,250$1,857$898
18 years$3,641$3,013$2,478$2,027$1,651$758
19 years$3,413$2,792$2,268$1,832$1,471$640
20 years$3,208$2,595$2,082$1,659$1,314$542
21 years$3,023$2,417$1,915$1,506$1,176$459
22 years$2,856$2,256$1,765$1,369$1,054$389
23 years$2,703$2,110$1,630$1,247$946$330
24 years$2,562$1,977$1,507$1,137$851$281
25 years$2,434$1,855$1,396$1,039$765$238
26 years$2,315$1,744$1,295$950$689$203
27 years$2,206$1,641$1,202$869$622$172
28 years$2,104$1,546$1,118$796$561$147
29 years$2,010$1,459$1,040$730$506$125
30 years$1,922$1,378$969$670$458$106
31 years$1,839$1,302$903$616$414$90
32 years$1,763$1,232$843$566$374$77
33 years$1,691$1,167$787$520$339$66
34 years$1,623$1,106$735$479$307$56
35 years$1,559$1,049$687$441$278$48
36 years$1,499$996$643$406$252$41
37 years$1,443$946$602$374$228$35
38 years$1,389$899$564$345$207$29
39 years$1,339$855$528$318$188$25
40 years$1,291$813$495$293$170$21
41 years$1,245$774$464$270$154$18
42 years$1,202$737$435$250$140$16
43 years$1,161$702$408$230$127$13
44 years$1,122$669$383$213$115$11
45 years$1,084$638$360$196$105$10
46 years$1,049$609$338$181$95$8
47 years$1,015$581$318$168$86$7
48 years$982$555$298$155$78$6
49 years$951$530$281$143$71$5
50 years$922$506$264$132$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $944,000, adding $3,007 every year, while hoping to spend $59,289 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: 58/31/11 Blend
54$944,000$944,000$944,000$944,000
55$1,043,390$993,358$978,726$1,100,947
56$1,086,732$978,949$948,430$1,125,685
57$1,132,509$961,848$915,132$1,145,752
58$1,180,905$941,858$878,669$1,166,199
59$1,232,123$918,775$838,871$1,187,070
60$1,286,385$892,380$795,558$1,208,415
61$1,343,931$862,442$748,544$1,230,291
62$1,405,027$828,717$697,636$1,252,768
63$1,469,962$790,945$642,628$1,275,922
64$1,539,050$748,854$583,308$1,299,842
65$1,612,639$702,154$519,455$1,324,630
66$1,691,107$650,538$450,836$1,350,403
67$1,774,870$593,684$377,208$1,377,293
68$1,864,381$531,249$298,319$1,405,451
69$1,960,138$462,871$213,903$1,435,048
70$2,062,690$388,169$123,687$1,466,278
71$2,172,634$306,739$27,380$1,499,361
72$2,290,628$218,155$0$1,534,543
73$2,417,394$121,966$0$1,580,954
74$2,553,723$17,698$0$1,634,063
75$2,700,485$0$0$1,691,045
76$2,858,635$0$0$1,784,799
77$3,029,221$0$0$1,892,497
78$3,213,396$0$0$2,008,839
79$3,412,424$0$0$2,134,632
80$3,627,699$0$0$2,270,763
81$3,860,749$0$0$2,418,210
82$4,113,255$0$0$2,578,045
83$4,387,066$0$0$2,751,448
84$4,684,214$0$0$2,939,717
85$5,006,937$0$0$3,144,279
86$5,357,693$0$0$3,366,706
87$5,739,187$0$0$3,608,723
88$6,154,396$0$0$3,872,233
89$6,606,596$0$0$4,159,327
90$7,099,391$0$0$4,472,306
91$7,636,746$0$0$4,813,704
92$8,223,028$0$0$5,186,309
93$8,863,042$0$0$5,593,191
94$9,562,077$0$0$6,037,727
95$10,325,957$0$0$6,523,638
96$11,161,091$0$0$7,055,019
97$12,074,539$0$0$7,636,379
98$13,074,071$0$0$8,272,683
99$14,168,246$0$0$8,969,398
100$15,366,485$0$0$9,732,544