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%16.2%
1 years$78,285$77,588$76,907$76,243$75,595$73,678
2 years$38,755$38,033$37,334$36,655$35,998$34,078
3 years$25,580$24,855$24,157$23,485$22,838$20,977
4 years$18,994$18,271$17,580$16,920$16,288$14,500
5 years$15,043$14,325$13,643$12,996$12,382$10,671
6 years$12,410$11,697$11,026$10,393$9,798$8,166
7 years$10,530$9,823$9,162$8,545$7,968$6,415
8 years$9,121$8,420$7,770$7,168$6,610$5,136
9 years$8,025$7,331$6,693$6,106$5,567$4,170
10 years$7,149$6,462$5,835$5,263$4,743$3,422
11 years$6,433$5,753$5,137$4,580$4,079$2,832
12 years$5,837$5,164$4,559$4,018$3,535$2,359
13 years$5,333$4,666$4,073$3,547$3,083$1,976
14 years$4,901$4,242$3,660$3,149$2,702$1,662
15 years$4,527$3,875$3,304$2,808$2,379$1,403
16 years$4,200$3,555$2,996$2,514$2,103$1,188
17 years$3,912$3,274$2,726$2,259$1,864$1,008
18 years$3,656$3,025$2,488$2,036$1,658$858
19 years$3,427$2,804$2,278$1,840$1,478$731
20 years$3,222$2,606$2,091$1,666$1,320$624
21 years$3,036$2,427$1,923$1,512$1,181$533
22 years$2,868$2,265$1,772$1,375$1,059$456
23 years$2,714$2,119$1,636$1,252$950$390
24 years$2,573$1,985$1,513$1,142$854$334
25 years$2,444$1,863$1,402$1,043$769$286
26 years$2,325$1,751$1,300$954$692$246
27 years$2,215$1,648$1,207$873$624$211
28 years$2,113$1,553$1,122$800$563$181
29 years$2,018$1,465$1,044$733$509$155
30 years$1,930$1,383$973$673$460$134
31 years$1,847$1,308$907$618$415$115
32 years$1,770$1,237$846$568$376$99
33 years$1,698$1,172$790$522$340$85
34 years$1,630$1,111$738$481$308$73
35 years$1,566$1,053$690$442$279$63
36 years$1,506$1,000$646$407$253$54
37 years$1,449$950$604$375$229$46
38 years$1,395$902$566$346$208$40
39 years$1,344$858$530$319$188$34
40 years$1,296$816$497$294$171$29
41 years$1,250$777$466$272$155$25
42 years$1,207$740$437$251$141$22
43 years$1,166$705$410$231$128$19
44 years$1,126$672$385$214$116$16
45 years$1,089$641$362$197$105$14
46 years$1,053$612$340$182$95$12
47 years$1,019$584$319$168$87$10
48 years$987$557$300$156$79$9
49 years$955$532$282$144$72$8
50 years$926$508$265$133$65$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $948,000, adding $3,765 every year, while hoping to spend $52,875 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: 40/37/23 Blend
54$948,000$948,000$948,000$948,000
55$1,048,580$998,336$983,642$1,083,256
56$1,099,276$990,995$960,335$1,101,221
57$1,153,372$981,523$934,475$1,115,361
58$1,211,157$969,759$905,922$1,129,601
59$1,272,950$955,533$874,526$1,143,981
60$1,339,102$938,665$840,133$1,158,548
61$1,409,995$918,965$802,582$1,173,359
62$1,486,050$896,229$761,704$1,188,481
63$1,567,728$870,245$717,322$1,203,991
64$1,655,535$840,786$669,251$1,219,982
65$1,750,027$807,612$617,298$1,236,561
66$1,851,814$770,469$561,263$1,253,849
67$1,961,568$729,091$500,933$1,271,988
68$2,080,023$683,192$436,090$1,291,141
69$2,207,990$632,473$366,504$1,311,494
70$2,346,357$576,616$291,934$1,333,258
71$2,496,103$515,287$212,130$1,356,674
72$2,658,300$448,131$126,831$1,382,018
73$2,834,130$374,773$35,764$1,409,598
74$3,024,893$294,819$0$1,439,768
75$3,232,017$207,849$0$1,487,997
76$3,457,073$113,424$0$1,550,005
77$3,701,789$11,077$0$1,617,588
78$3,968,067$0$0$1,691,392
79$4,257,999$0$0$1,812,724
80$4,573,888$0$0$1,949,946
81$4,918,267$0$0$2,099,662
82$5,293,925$0$0$2,263,100
83$5,703,931$0$0$2,441,611
84$6,151,664$0$0$2,636,682
85$6,640,842$0$0$2,849,950
86$7,175,559$0$0$3,083,218
87$7,760,325$0$0$3,338,470
88$8,400,102$0$0$3,617,891
89$9,100,355$0$0$3,923,889
90$9,867,102$0$0$4,259,114
91$10,706,970$0$0$4,626,483
92$11,627,258$0$0$5,029,212
93$12,636,003$0$0$5,470,840
94$13,742,058$0$0$5,955,267
95$14,955,170$0$0$6,486,787
96$16,286,080$0$0$7,070,130
97$17,746,616$0$0$7,710,508
98$19,349,806$0$0$8,413,660
99$21,110,002$0$0$9,185,908
100$23,043,013$0$0$10,034,219