Can I retire at age 55 with 950,000?

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 $950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$78,450$77,751$77,070$76,404$75,754$74,194
2 years$38,837$38,113$37,412$36,733$36,073$34,509
3 years$25,634$24,908$24,208$23,535$22,887$21,366
4 years$19,034$18,310$17,617$16,956$16,323$14,859
5 years$15,075$14,355$13,672$13,024$12,408$11,004
6 years$12,436$11,722$11,049$10,415$9,818$8,476
7 years$10,552$9,844$9,182$8,563$7,985$6,704
8 years$9,140$8,438$7,787$7,183$6,624$5,405
9 years$8,042$7,347$6,707$6,118$5,579$4,420
10 years$7,165$6,476$5,847$5,274$4,753$3,654
11 years$6,447$5,765$5,148$4,590$4,088$3,047
12 years$5,849$5,175$4,568$4,026$3,543$2,558
13 years$5,344$4,676$4,082$3,554$3,089$2,160
14 years$4,911$4,251$3,667$3,155$2,708$1,832
15 years$4,536$3,883$3,311$2,814$2,384$1,559
16 years$4,209$3,563$3,002$2,520$2,107$1,332
17 years$3,920$3,281$2,732$2,264$1,868$1,140
18 years$3,664$3,032$2,494$2,040$1,661$978
19 years$3,435$2,810$2,283$1,843$1,481$841
20 years$3,229$2,611$2,095$1,670$1,323$724
21 years$3,043$2,432$1,927$1,515$1,184$624
22 years$2,874$2,270$1,776$1,378$1,061$539
23 years$2,720$2,123$1,640$1,255$952$466
24 years$2,579$1,989$1,517$1,144$856$403
25 years$2,449$1,867$1,405$1,045$770$349
26 years$2,330$1,755$1,303$956$694$302
27 years$2,220$1,651$1,210$875$626$262
28 years$2,117$1,556$1,125$801$564$227
29 years$2,022$1,468$1,047$735$510$197
30 years$1,934$1,386$975$674$461$171
31 years$1,851$1,311$909$619$416$148
32 years$1,774$1,240$848$569$377$129
33 years$1,701$1,174$792$523$341$112
34 years$1,633$1,113$740$482$309$97
35 years$1,569$1,056$692$443$280$84
36 years$1,509$1,002$647$408$253$73
37 years$1,452$952$606$376$230$64
38 years$1,398$904$567$347$208$55
39 years$1,347$860$531$320$189$48
40 years$1,299$818$498$295$171$42
41 years$1,253$779$467$272$155$36
42 years$1,209$742$438$251$141$32
43 years$1,168$707$411$232$128$27
44 years$1,129$674$386$214$116$24
45 years$1,091$642$362$198$105$21
46 years$1,055$613$340$183$96$18
47 years$1,021$585$320$169$87$16
48 years$989$558$300$156$79$14
49 years$957$533$282$144$72$12
50 years$928$509$265$133$65$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $950,000, adding $4,625 every year, while hoping to spend $58,441 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: 75/7/18 Blend
54$950,000$950,000$950,000$950,000
55$1,051,671$1,001,321$986,596$1,125,859
56$1,096,760$988,205$957,466$1,162,499
57$1,144,490$972,487$925,402$1,194,997
58$1,195,069$953,979$890,243$1,229,074
59$1,248,722$932,480$851,822$1,264,871
60$1,305,698$907,778$809,964$1,302,546
61$1,366,268$879,648$764,487$1,342,272
62$1,430,729$847,853$715,199$1,384,242
63$1,499,406$812,140$661,901$1,428,669
64$1,572,654$772,244$604,383$1,475,788
65$1,650,863$727,883$542,429$1,525,861
66$1,734,461$678,758$475,810$1,579,176
67$1,823,914$624,556$404,287$1,636,054
68$1,919,737$564,942$327,614$1,696,847
69$2,022,491$499,566$245,531$1,761,948
70$2,132,796$428,055$157,766$1,831,788
71$2,251,327$350,016$64,038$1,906,848
72$2,378,830$265,034$0$1,987,656
73$2,516,121$172,671$0$2,081,711
74$2,664,097$72,464$0$2,196,323
75$2,823,744$0$0$2,319,958
76$2,996,144$0$0$2,456,252
77$3,182,486$0$0$2,609,633
78$3,384,079$0$0$2,775,597
79$3,602,359$0$0$2,955,333
80$3,838,906$0$0$3,150,146
81$4,095,458$0$0$3,361,471
82$4,373,925$0$0$3,590,886
83$4,676,409$0$0$3,840,128
84$5,005,221$0$0$4,111,106
85$5,362,904$0$0$4,405,921
86$5,752,256$0$0$4,726,885
87$6,176,356$0$0$5,076,542
88$6,638,591$0$0$5,457,690
89$7,142,689$0$0$5,873,410
90$7,692,755$0$0$6,327,094
91$8,293,305$0$0$6,822,473
92$8,949,312$0$0$7,363,657
93$9,666,249$0$0$7,955,168
94$10,450,144$0$0$8,601,986
95$11,307,630$0$0$9,309,594
96$12,246,015$0$0$10,084,030
97$13,273,343$0$0$10,931,941
98$14,398,472$0$0$11,860,649
99$15,631,159$0$0$12,878,215
100$16,982,148$0$0$13,993,517