Can I retire at age 55 with 947,000?

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 $947,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$78,202$77,506$76,826$76,163$75,515$74,387
2 years$38,714$37,993$37,294$36,617$35,960$34,825
3 years$25,553$24,829$24,132$23,461$22,814$21,709
4 years$18,974$18,252$17,562$16,902$16,271$15,204
5 years$15,027$14,310$13,629$12,982$12,369$11,343
6 years$12,397$11,685$11,014$10,382$9,787$8,803
7 years$10,519$9,813$9,153$8,536$7,960$7,018
8 years$9,111$8,412$7,762$7,160$6,603$5,704
9 years$8,017$7,324$6,686$6,099$5,561$4,704
10 years$7,142$6,456$5,829$5,257$4,738$3,922
11 years$6,427$5,747$5,131$4,576$4,075$3,300
12 years$5,831$5,158$4,554$4,013$3,531$2,795
13 years$5,327$4,661$4,069$3,543$3,079$2,382
14 years$4,896$4,237$3,656$3,145$2,699$2,039
15 years$4,522$3,871$3,301$2,805$2,377$1,753
16 years$4,196$3,551$2,993$2,512$2,101$1,512
17 years$3,908$3,271$2,723$2,257$1,863$1,307
18 years$3,652$3,022$2,486$2,034$1,656$1,133
19 years$3,424$2,801$2,276$1,838$1,476$984
20 years$3,219$2,603$2,088$1,664$1,318$857
21 years$3,033$2,424$1,921$1,510$1,180$746
22 years$2,865$2,263$1,771$1,373$1,058$651
23 years$2,711$2,117$1,635$1,251$949$569
24 years$2,571$1,983$1,512$1,141$853$498
25 years$2,442$1,861$1,400$1,042$768$435
26 years$2,323$1,749$1,299$953$692$381
27 years$2,213$1,646$1,206$872$624$334
28 years$2,111$1,551$1,121$799$563$293
29 years$2,016$1,463$1,043$733$508$257
30 years$1,928$1,382$972$672$459$226
31 years$1,845$1,306$906$617$415$198
32 years$1,768$1,236$845$567$375$174
33 years$1,696$1,171$789$522$340$153
34 years$1,628$1,109$737$480$308$134
35 years$1,564$1,052$689$442$279$118
36 years$1,504$999$645$407$252$104
37 years$1,447$949$604$375$229$91
38 years$1,394$902$565$346$207$80
39 years$1,343$857$530$319$188$71
40 years$1,295$816$496$294$171$62
41 years$1,249$776$465$271$155$55
42 years$1,206$739$437$250$140$48
43 years$1,164$705$410$231$127$42
44 years$1,125$672$385$213$116$37
45 years$1,088$640$361$197$105$33
46 years$1,052$611$339$182$95$29
47 years$1,018$583$319$168$87$25
48 years$985$557$299$155$79$22
49 years$954$531$281$144$71$20
50 years$925$508$265$133$65$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $947,000, adding $2,652 every year, while hoping to spend $28,850 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: 46/40/14 Blend
54$947,000$947,000$947,000$947,000
55$1,046,330$996,139$981,460$1,090,198
56$1,122,359$1,014,253$983,643$1,139,036
57$1,205,176$1,032,288$984,932$1,188,841
58$1,295,444$1,050,210$985,266$1,242,239
59$1,393,890$1,067,981$984,584$1,299,574
60$1,501,316$1,085,562$982,817$1,361,227
61$1,618,605$1,102,909$979,896$1,427,618
62$1,746,729$1,119,977$975,748$1,499,208
63$1,886,756$1,136,717$970,297$1,576,509
64$2,039,865$1,153,076$963,461$1,660,084
65$2,207,352$1,168,997$955,158$1,750,553
66$2,390,644$1,184,420$945,298$1,848,604
67$2,591,313$1,199,280$933,789$1,954,991
68$2,811,091$1,213,509$920,534$2,070,550
69$3,051,882$1,227,031$905,433$2,196,201
70$3,315,788$1,239,770$888,378$2,332,960
71$3,605,119$1,251,639$869,260$2,481,949
72$3,922,423$1,262,551$847,962$2,644,403
73$4,270,503$1,272,409$824,361$2,821,686
74$4,652,449$1,281,112$798,332$3,015,305
75$5,071,664$1,288,551$769,741$3,226,918
76$5,531,896$1,294,612$738,450$3,458,359
77$6,037,273$1,299,172$704,312$3,711,647
78$6,592,345$1,302,101$667,176$3,989,011
79$7,202,120$1,303,261$626,882$4,292,911
80$7,872,119$1,302,503$583,266$4,626,059
81$8,608,423$1,299,674$536,153$4,991,447
82$9,417,731$1,294,606$485,363$5,392,376
83$10,307,422$1,287,124$430,705$5,832,484
84$11,285,627$1,277,042$371,982$6,315,788
85$12,361,306$1,264,161$308,988$6,846,716
86$13,544,326$1,248,273$241,506$7,430,151
87$14,845,563$1,229,154$169,312$8,071,481
88$16,276,997$1,206,569$92,171$8,776,645
89$17,851,829$1,180,269$9,837$9,552,196
90$19,584,603$1,149,989$0$10,405,359
91$21,491,345$1,115,451$0$11,355,757
92$23,589,711$1,076,357$0$12,402,847
93$25,899,157$1,032,394$0$13,554,887
94$28,441,120$983,231$0$14,822,607
95$31,239,222$928,516$0$16,217,831
96$34,319,489$867,880$0$17,753,599
97$37,710,600$800,929$0$19,444,283
98$41,444,155$727,249$0$21,305,727
99$45,554,976$646,402$0$23,355,400
100$50,081,432$557,923$0$25,612,555