Can I retire at age 55 with 944,000?

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 $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%11.9%
1 years$77,955$77,260$76,583$75,922$75,276$74,676
2 years$38,591$37,873$37,176$36,501$35,846$35,241
3 years$25,472$24,750$24,055$23,386$22,742$22,152
4 years$18,914$18,194$17,506$16,849$16,220$15,648
5 years$14,980$14,264$13,586$12,941$12,330$11,778
6 years$12,358$11,648$10,979$10,349$9,756$9,225
7 years$10,486$9,782$9,124$8,509$7,934$7,425
8 years$9,082$8,385$7,738$7,138$6,582$6,094
9 years$7,992$7,301$6,664$6,080$5,543$5,075
10 years$7,119$6,435$5,810$5,241$4,723$4,276
11 years$6,406$5,729$5,115$4,561$4,062$3,635
12 years$5,812$5,142$4,540$4,001$3,520$3,113
13 years$5,310$4,647$4,056$3,532$3,070$2,682
14 years$4,880$4,224$3,644$3,135$2,691$2,322
15 years$4,508$3,858$3,290$2,796$2,369$2,019
16 years$4,182$3,540$2,983$2,504$2,094$1,762
17 years$3,895$3,260$2,714$2,250$1,857$1,542
18 years$3,641$3,013$2,478$2,027$1,651$1,353
19 years$3,413$2,792$2,268$1,832$1,471$1,190
20 years$3,208$2,595$2,082$1,659$1,314$1,048
21 years$3,023$2,417$1,915$1,506$1,176$925
22 years$2,856$2,256$1,765$1,369$1,054$818
23 years$2,703$2,110$1,630$1,247$946$724
24 years$2,562$1,977$1,507$1,137$851$641
25 years$2,434$1,855$1,396$1,039$765$569
26 years$2,315$1,744$1,295$950$689$505
27 years$2,206$1,641$1,202$869$622$448
28 years$2,104$1,546$1,118$796$561$399
29 years$2,010$1,459$1,040$730$506$355
30 years$1,922$1,378$969$670$458$315
31 years$1,839$1,302$903$616$414$281
32 years$1,763$1,232$843$566$374$250
33 years$1,691$1,167$787$520$339$223
34 years$1,623$1,106$735$479$307$199
35 years$1,559$1,049$687$441$278$177
36 years$1,499$996$643$406$252$158
37 years$1,443$946$602$374$228$141
38 years$1,389$899$564$345$207$126
39 years$1,339$855$528$318$188$112
40 years$1,291$813$495$293$170$100
41 years$1,245$774$464$270$154$89
42 years$1,202$737$435$250$140$80
43 years$1,161$702$408$230$127$71
44 years$1,122$669$383$213$115$64
45 years$1,084$638$360$196$105$57
46 years$1,049$609$338$181$95$51
47 years$1,015$581$318$168$86$45
48 years$982$555$298$155$78$40
49 years$951$530$281$143$71$36
50 years$922$506$264$132$65$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $944,000, adding $3,991 every year, while hoping to spend $26,415 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: 38/33/29 Blend
54$944,000$944,000$944,000$944,000
55$1,044,405$994,373$979,741$1,074,954
56$1,122,829$1,014,992$984,457$1,118,429
57$1,208,366$1,035,736$988,445$1,162,682
58$1,301,716$1,056,583$991,654$1,210,011
59$1,403,645$1,077,509$994,029$1,260,711
60$1,514,999$1,098,490$995,511$1,315,112
61$1,636,710$1,119,496$996,041$1,373,575
62$1,769,800$1,140,498$995,555$1,436,499
63$1,915,400$1,161,462$993,986$1,504,326
64$2,074,751$1,182,354$991,265$1,577,544
65$2,249,221$1,203,135$987,318$1,656,689
66$2,440,317$1,223,763$982,068$1,742,355
67$2,649,697$1,244,196$975,435$1,835,198
68$2,879,189$1,264,384$967,335$1,935,941
69$3,130,804$1,284,277$957,678$2,045,383
70$3,406,759$1,303,819$946,374$2,164,405
71$3,709,495$1,322,953$933,324$2,293,979
72$4,041,700$1,341,614$918,427$2,435,179
73$4,406,336$1,359,736$901,577$2,589,191
74$4,806,665$1,377,246$882,662$2,757,322
75$5,246,280$1,394,066$861,567$2,941,016
76$5,729,140$1,410,115$838,169$3,141,864
77$6,259,606$1,425,304$812,340$3,361,625
78$6,842,481$1,439,539$783,949$3,602,238
79$7,483,057$1,452,720$752,855$3,865,843
80$8,187,166$1,464,740$718,913$4,154,800
81$8,961,230$1,475,486$681,970$4,471,715
82$9,812,327$1,484,836$641,866$4,819,462
83$10,748,252$1,492,661$598,437$5,201,211
84$11,777,597$1,498,824$551,507$5,620,459
85$12,909,824$1,503,179$500,896$6,081,066
86$14,155,363$1,505,571$446,412$6,587,287
87$15,525,702$1,505,836$387,859$7,143,818
88$17,033,500$1,503,799$325,029$7,755,836
89$18,692,705$1,499,273$257,705$8,429,055
90$20,518,685$1,492,061$185,663$9,169,773
91$22,528,374$1,481,955$108,665$9,984,939
92$24,740,430$1,468,733$26,467$10,882,215
93$27,175,412$1,452,158$0$11,870,054
94$29,855,972$1,431,983$0$12,976,727
95$32,807,073$1,407,942$0$14,203,532
96$36,056,219$1,379,755$0$15,553,689
97$39,633,716$1,347,126$0$17,039,787
98$43,572,961$1,309,741$0$18,675,701
99$47,910,751$1,267,267$0$20,476,726
100$52,687,637$1,219,352$0$22,459,718