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%15.2%
1 years$77,955$77,260$76,583$75,922$75,276$73,666
2 years$38,591$37,873$37,176$36,501$35,846$34,231
3 years$25,472$24,750$24,055$23,386$22,742$21,174
4 years$18,914$18,194$17,506$16,849$16,220$14,710
5 years$14,980$14,264$13,586$12,941$12,330$10,883
6 years$12,358$11,648$10,979$10,349$9,756$8,373
7 years$10,486$9,782$9,124$8,509$7,934$6,615
8 years$9,082$8,385$7,738$7,138$6,582$5,327
9 years$7,992$7,301$6,664$6,080$5,543$4,351
10 years$7,119$6,435$5,810$5,241$4,723$3,593
11 years$6,406$5,729$5,115$4,561$4,062$2,992
12 years$5,812$5,142$4,540$4,001$3,520$2,509
13 years$5,310$4,647$4,056$3,532$3,070$2,115
14 years$4,880$4,224$3,644$3,135$2,691$1,792
15 years$4,508$3,858$3,290$2,796$2,369$1,523
16 years$4,182$3,540$2,983$2,504$2,094$1,299
17 years$3,895$3,260$2,714$2,250$1,857$1,110
18 years$3,641$3,013$2,478$2,027$1,651$951
19 years$3,413$2,792$2,268$1,832$1,471$817
20 years$3,208$2,595$2,082$1,659$1,314$702
21 years$3,023$2,417$1,915$1,506$1,176$605
22 years$2,856$2,256$1,765$1,369$1,054$521
23 years$2,703$2,110$1,630$1,247$946$450
24 years$2,562$1,977$1,507$1,137$851$388
25 years$2,434$1,855$1,396$1,039$765$335
26 years$2,315$1,744$1,295$950$689$290
27 years$2,206$1,641$1,202$869$622$251
28 years$2,104$1,546$1,118$796$561$217
29 years$2,010$1,459$1,040$730$506$188
30 years$1,922$1,378$969$670$458$163
31 years$1,839$1,302$903$616$414$141
32 years$1,763$1,232$843$566$374$122
33 years$1,691$1,167$787$520$339$106
34 years$1,623$1,106$735$479$307$92
35 years$1,559$1,049$687$441$278$80
36 years$1,499$996$643$406$252$69
37 years$1,443$946$602$374$228$60
38 years$1,389$899$564$345$207$52
39 years$1,339$855$528$318$188$45
40 years$1,291$813$495$293$170$39
41 years$1,245$774$464$270$154$34
42 years$1,202$737$435$250$140$29
43 years$1,161$702$408$230$127$26
44 years$1,122$669$383$213$115$22
45 years$1,084$638$360$196$105$19
46 years$1,049$609$338$181$95$17
47 years$1,015$581$318$168$86$15
48 years$982$555$298$155$78$13
49 years$951$530$281$143$71$11
50 years$922$506$264$132$65$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $944,000, adding $2,108 every year, while hoping to spend $33,161 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: 60/16/24 Blend
54$944,000$944,000$944,000$944,000
55$1,042,462$992,430$977,798$1,098,211
56$1,113,511$1,005,776$975,272$1,149,689
57$1,190,694$1,018,665$971,549$1,202,048
58$1,274,604$1,031,039$966,555$1,258,456
59$1,365,890$1,042,836$960,211$1,319,312
60$1,465,268$1,053,992$952,435$1,385,058
61$1,573,524$1,064,436$943,140$1,456,181
62$1,691,524$1,074,094$932,236$1,533,219
63$1,820,221$1,082,887$919,628$1,616,766
64$1,960,665$1,090,729$905,216$1,707,475
65$2,114,010$1,097,532$888,898$1,806,070
66$2,281,526$1,103,198$870,563$1,913,349
67$2,464,613$1,107,627$850,099$2,030,190
68$2,664,813$1,110,709$827,386$2,157,566
69$2,883,820$1,112,330$802,300$2,296,548
70$3,123,502$1,112,367$774,709$2,448,316
71$3,385,916$1,110,690$744,479$2,614,177
72$3,673,327$1,107,161$711,466$2,795,569
73$3,988,228$1,101,634$675,522$2,994,079
74$4,333,366$1,093,953$636,491$3,211,459
75$4,711,766$1,083,953$594,210$3,449,641
76$5,126,759$1,071,459$548,509$3,710,756
77$5,582,015$1,056,287$499,210$3,997,156
78$6,081,575$1,038,240$446,128$4,311,434
79$6,629,891$1,017,109$389,069$4,656,450
80$7,231,868$992,675$327,831$5,035,362
81$7,892,906$964,704$262,201$5,451,647
82$8,618,957$932,950$191,960$5,909,146
83$9,416,576$897,150$116,876$6,412,091
84$10,292,985$857,028$36,709$6,965,151
85$11,256,138$812,291$0$7,573,476
86$12,314,801$762,630$0$8,255,252
87$13,478,630$707,718$0$9,015,077
88$14,758,262$647,209$0$9,850,517
89$16,165,419$580,736$0$10,769,260
90$17,713,013$507,912$0$11,779,777
91$19,415,270$428,331$0$12,891,408
92$21,287,868$341,559$0$14,114,443
93$23,348,076$247,140$0$15,460,225
94$25,614,923$144,594$0$16,941,254
95$28,109,378$33,412$0$18,571,309
96$30,854,541$0$0$20,365,574
97$33,875,869$0$0$22,356,091
98$37,201,407$0$0$24,553,594
99$40,862,062$0$0$26,972,634
100$44,891,887$0$0$29,635,725