Can I retire at age 55 with 948,000?

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 $948,000?

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$78,285$77,588$76,907$76,243$75,595$74,774
2 years$38,755$38,033$37,334$36,655$35,998$35,171
3 years$25,580$24,855$24,157$23,485$22,838$22,032
4 years$18,994$18,271$17,580$16,920$16,288$15,508
5 years$15,043$14,325$13,643$12,996$12,382$11,631
6 years$12,410$11,697$11,026$10,393$9,798$9,076
7 years$10,530$9,823$9,162$8,545$7,968$7,276
8 years$9,121$8,420$7,770$7,168$6,610$5,948
9 years$8,025$7,331$6,693$6,106$5,567$4,934
10 years$7,149$6,462$5,835$5,263$4,743$4,139
11 years$6,433$5,753$5,137$4,580$4,079$3,504
12 years$5,837$5,164$4,559$4,018$3,535$2,987
13 years$5,333$4,666$4,073$3,547$3,083$2,562
14 years$4,901$4,242$3,660$3,149$2,702$2,208
15 years$4,527$3,875$3,304$2,808$2,379$1,911
16 years$4,200$3,555$2,996$2,514$2,103$1,659
17 years$3,912$3,274$2,726$2,259$1,864$1,445
18 years$3,656$3,025$2,488$2,036$1,658$1,262
19 years$3,427$2,804$2,278$1,840$1,478$1,104
20 years$3,222$2,606$2,091$1,666$1,320$968
21 years$3,036$2,427$1,923$1,512$1,181$850
22 years$2,868$2,265$1,772$1,375$1,059$747
23 years$2,714$2,119$1,636$1,252$950$658
24 years$2,573$1,985$1,513$1,142$854$580
25 years$2,444$1,863$1,402$1,043$769$511
26 years$2,325$1,751$1,300$954$692$451
27 years$2,215$1,648$1,207$873$624$399
28 years$2,113$1,553$1,122$800$563$352
29 years$2,018$1,465$1,044$733$509$312
30 years$1,930$1,383$973$673$460$276
31 years$1,847$1,308$907$618$415$244
32 years$1,770$1,237$846$568$376$216
33 years$1,698$1,172$790$522$340$191
34 years$1,630$1,111$738$481$308$170
35 years$1,566$1,053$690$442$279$150
36 years$1,506$1,000$646$407$253$133
37 years$1,449$950$604$375$229$118
38 years$1,395$902$566$346$208$105
39 years$1,344$858$530$319$188$93
40 years$1,296$816$497$294$171$82
41 years$1,250$777$466$272$155$73
42 years$1,207$740$437$251$141$65
43 years$1,166$705$410$231$128$58
44 years$1,126$672$385$214$116$51
45 years$1,089$641$362$197$105$45
46 years$1,053$612$340$182$95$40
47 years$1,019$584$319$168$87$36
48 years$987$557$300$156$79$32
49 years$955$532$282$144$72$28
50 years$926$508$265$133$65$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $948,000, adding $6,287 every year, while hoping to spend $48,148 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: 64/21/15 Blend
54$948,000$948,000$948,000$948,000
55$1,051,181$1,000,937$986,243$1,114,243
56$1,107,172$998,754$968,053$1,155,083
57$1,167,261$994,850$947,640$1,193,568
58$1,231,814$989,090$924,879$1,234,433
59$1,301,235$981,331$899,638$1,277,910
60$1,375,966$971,421$871,780$1,324,257
61$1,456,492$959,199$841,163$1,373,759
62$1,543,348$944,493$807,635$1,426,731
63$1,637,119$927,122$771,040$1,483,523
64$1,738,449$906,896$731,215$1,544,522
65$1,848,047$883,610$687,987$1,610,155
66$1,966,691$857,050$641,177$1,680,896
67$2,095,237$826,988$590,599$1,757,271
68$2,234,624$793,184$536,057$1,839,858
69$2,385,887$755,381$477,347$1,929,301
70$2,550,164$713,311$414,254$2,026,308
71$2,728,706$666,689$346,557$2,131,666
72$2,922,889$615,212$274,023$2,246,243
73$3,134,229$558,563$196,408$2,370,999
74$3,364,392$496,404$113,459$2,506,996
75$3,615,211$428,379$24,910$2,655,408
76$3,888,704$354,111$0$2,817,534
77$4,187,094$273,204$0$3,005,944
78$4,512,824$185,237$0$3,216,066
79$4,868,585$89,768$0$3,445,709
80$5,257,341$0$0$3,696,859
81$5,682,353$0$0$3,974,867
82$6,147,213$0$0$4,301,690
83$6,655,874$0$0$4,659,373
84$7,212,690$0$0$5,050,986
85$7,822,456$0$0$5,479,908
86$8,490,451$0$0$5,949,862
87$9,222,490$0$0$6,464,949
88$10,024,976$0$0$7,029,683
89$10,904,963$0$0$7,649,036
90$11,870,217$0$0$8,328,487
91$12,929,295$0$0$9,074,069
92$14,091,621$0$0$9,892,426
93$15,367,576$0$0$10,790,879
94$16,768,594$0$0$11,777,491
95$18,307,272$0$0$12,861,144
96$19,997,486$0$0$14,051,624
97$21,854,523$0$0$15,359,711
98$23,895,222$0$0$16,797,279
99$26,138,136$0$0$18,377,411
100$28,603,703$0$0$20,114,522