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%11.1%
1 years$78,450$77,751$77,070$76,404$75,754$75,403
2 years$38,837$38,113$37,412$36,733$36,073$35,719
3 years$25,634$24,908$24,208$23,535$22,887$22,540
4 years$19,034$18,310$17,617$16,956$16,323$15,987
5 years$15,075$14,355$13,672$13,024$12,408$12,083
6 years$12,436$11,722$11,049$10,415$9,818$9,505
7 years$10,552$9,844$9,182$8,563$7,985$7,684
8 years$9,140$8,438$7,787$7,183$6,624$6,335
9 years$8,042$7,347$6,707$6,118$5,579$5,301
10 years$7,165$6,476$5,847$5,274$4,753$4,488
11 years$6,447$5,765$5,148$4,590$4,088$3,834
12 years$5,849$5,175$4,568$4,026$3,543$3,300
13 years$5,344$4,676$4,082$3,554$3,089$2,858
14 years$4,911$4,251$3,667$3,155$2,708$2,487
15 years$4,536$3,883$3,311$2,814$2,384$2,174
16 years$4,209$3,563$3,002$2,520$2,107$1,907
17 years$3,920$3,281$2,732$2,264$1,868$1,679
18 years$3,664$3,032$2,494$2,040$1,661$1,481
19 years$3,435$2,810$2,283$1,843$1,481$1,310
20 years$3,229$2,611$2,095$1,670$1,323$1,161
21 years$3,043$2,432$1,927$1,515$1,184$1,031
22 years$2,874$2,270$1,776$1,378$1,061$916
23 years$2,720$2,123$1,640$1,255$952$816
24 years$2,579$1,989$1,517$1,144$856$727
25 years$2,449$1,867$1,405$1,045$770$649
26 years$2,330$1,755$1,303$956$694$580
27 years$2,220$1,651$1,210$875$626$518
28 years$2,117$1,556$1,125$801$564$464
29 years$2,022$1,468$1,047$735$510$415
30 years$1,934$1,386$975$674$461$372
31 years$1,851$1,311$909$619$416$333
32 years$1,774$1,240$848$569$377$299
33 years$1,701$1,174$792$523$341$268
34 years$1,633$1,113$740$482$309$240
35 years$1,569$1,056$692$443$280$216
36 years$1,509$1,002$647$408$253$194
37 years$1,452$952$606$376$230$174
38 years$1,398$904$567$347$208$156
39 years$1,347$860$531$320$189$140
40 years$1,299$818$498$295$171$126
41 years$1,253$779$467$272$155$113
42 years$1,209$742$438$251$141$102
43 years$1,168$707$411$232$128$92
44 years$1,129$674$386$214$116$82
45 years$1,091$642$362$198$105$74
46 years$1,055$613$340$183$96$67
47 years$1,021$585$320$169$87$60
48 years$989$558$300$156$79$54
49 years$957$533$282$144$72$48
50 years$928$509$265$133$65$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $950,000, adding $3,637 every year, while hoping to spend $52,440 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: 31/50/19 Blend
54$950,000$950,000$950,000$950,000
55$1,050,652$1,000,302$985,577$1,076,880
56$1,102,022$993,521$962,798$1,090,121
57$1,156,875$984,650$937,498$1,099,349
58$1,215,510$973,531$909,538$1,108,171
59$1,278,256$959,998$878,771$1,116,583
60$1,345,473$943,873$845,045$1,124,586
61$1,417,556$924,968$808,199$1,132,184
62$1,494,940$903,084$768,066$1,139,389
63$1,578,099$878,010$724,472$1,146,219
64$1,667,557$849,525$677,234$1,152,700
65$1,763,887$817,391$626,161$1,158,866
66$1,867,720$781,359$571,053$1,164,762
67$1,979,747$741,165$511,703$1,170,447
68$2,100,728$696,529$447,892$1,175,989
69$2,231,499$647,157$379,393$1,181,476
70$2,372,979$592,734$305,970$1,187,010
71$2,526,177$532,932$227,373$1,192,715
72$2,692,202$467,400$143,345$1,198,736
73$2,872,274$395,771$53,616$1,205,243
74$3,067,737$317,654$0$1,212,436
75$3,280,065$232,638$0$1,229,089
76$3,510,882$140,288$0$1,259,079
77$3,761,975$40,145$0$1,291,894
78$4,035,307$0$0$1,327,952
79$4,333,043$0$0$1,405,287
80$4,657,561$0$0$1,513,787
81$5,011,479$0$0$1,632,257
82$5,397,682$0$0$1,761,679
83$5,819,340$0$0$1,903,134
84$6,279,947$0$0$2,057,813
85$6,783,347$0$0$2,227,028
86$7,333,774$0$0$2,412,220
87$7,935,888$0$0$2,614,980
88$8,594,821$0$0$2,837,058
89$9,316,224$0$0$3,080,382
90$10,106,318$0$0$3,347,074
91$10,971,957$0$0$3,639,472
92$11,920,687$0$0$3,960,151
93$12,960,820$0$0$4,311,947
94$14,101,509$0$0$4,697,984
95$15,352,838$0$0$5,121,702
96$16,725,910$0$0$5,586,893
97$18,232,959$0$0$6,097,730
98$19,887,459$0$0$6,658,813
99$21,704,252$0$0$7,275,209
100$23,699,688$0$0$7,952,499