Can I retire at age 55 with 953,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $953,000?

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 years$78,698$77,997$77,313$76,645$75,994$75,673
2 years$38,959$38,234$37,531$36,849$36,187$35,864
3 years$25,715$24,986$24,285$23,609$22,959$22,642
4 years$19,094$18,367$17,673$17,009$16,374$16,067
5 years$15,122$14,400$13,715$13,065$12,448$12,151
6 years$12,476$11,759$11,084$10,448$9,849$9,563
7 years$10,586$9,875$9,211$8,590$8,010$7,735
8 years$9,169$8,465$7,811$7,206$6,645$6,381
9 years$8,068$7,370$6,728$6,138$5,596$5,343
10 years$7,187$6,496$5,866$5,291$4,768$4,525
11 years$6,467$5,783$5,164$4,605$4,101$3,868
12 years$5,868$5,191$4,583$4,039$3,554$3,332
13 years$5,361$4,691$4,095$3,566$3,099$2,887
14 years$4,927$4,264$3,679$3,165$2,716$2,514
15 years$4,551$3,895$3,322$2,823$2,392$2,199
16 years$4,222$3,574$3,012$2,528$2,114$1,931
17 years$3,933$3,291$2,740$2,271$1,874$1,700
18 years$3,675$3,041$2,502$2,047$1,667$1,502
19 years$3,446$2,819$2,290$1,849$1,485$1,329
20 years$3,239$2,619$2,102$1,675$1,327$1,179
21 years$3,052$2,440$1,933$1,520$1,187$1,047
22 years$2,883$2,277$1,782$1,382$1,064$932
23 years$2,728$2,130$1,645$1,259$955$830
24 years$2,587$1,996$1,521$1,148$859$741
25 years$2,457$1,873$1,409$1,048$773$661
26 years$2,337$1,760$1,307$959$696$591
27 years$2,227$1,657$1,214$877$628$529
28 years$2,124$1,561$1,128$804$566$473
29 years$2,029$1,473$1,050$737$511$424
30 years$1,940$1,391$978$677$462$380
31 years$1,857$1,315$912$621$418$341
32 years$1,779$1,244$851$571$378$306
33 years$1,707$1,178$794$525$342$275
34 years$1,638$1,117$742$483$310$247
35 years$1,574$1,059$694$445$280$222
36 years$1,514$1,005$649$410$254$199
37 years$1,456$955$607$377$230$179
38 years$1,402$907$569$348$209$161
39 years$1,351$863$533$321$189$145
40 years$1,303$821$500$296$172$130
41 years$1,257$781$468$273$156$117
42 years$1,213$744$439$252$141$105
43 years$1,172$709$412$233$128$95
44 years$1,132$676$387$215$116$85
45 years$1,095$644$363$198$106$77
46 years$1,059$615$341$183$96$69
47 years$1,024$587$321$169$87$62
48 years$992$560$301$156$79$56
49 years$960$535$283$145$72$50
50 years$930$511$266$134$65$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $953,000, adding $2,926 every year, while hoping to spend $23,580 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: 42/46/12 Blend
54$953,000$953,000$953,000$953,000
55$1,053,224$1,002,715$987,944$1,093,640
56$1,135,564$1,026,759$995,951$1,146,296
57$1,225,512$1,051,191$1,003,436$1,200,700
58$1,323,820$1,076,005$1,010,357$1,259,090
59$1,431,315$1,101,194$1,016,668$1,321,838
60$1,548,906$1,126,750$1,022,324$1,389,357
61$1,677,597$1,152,663$1,027,274$1,462,101
62$1,818,492$1,178,924$1,031,468$1,540,568
63$1,972,806$1,205,519$1,034,850$1,625,310
64$2,141,878$1,232,435$1,037,363$1,716,931
65$2,327,182$1,259,657$1,038,948$1,816,100
66$2,530,343$1,287,169$1,039,541$1,923,553
67$2,753,149$1,314,951$1,039,076$2,040,099
68$2,997,569$1,342,983$1,037,485$2,166,633
69$3,265,774$1,371,241$1,034,693$2,304,138
70$3,560,152$1,399,701$1,030,624$2,453,699
71$3,883,337$1,428,336$1,025,200$2,616,511
72$4,238,229$1,457,116$1,018,335$2,793,893
73$4,628,021$1,486,008$1,009,943$2,987,295
74$5,056,234$1,514,977$999,930$3,198,318
75$5,526,743$1,543,983$988,201$3,428,727
76$6,043,819$1,572,987$974,654$3,680,464
77$6,612,167$1,601,942$959,184$3,955,674
78$7,236,971$1,630,800$941,679$4,256,718
79$7,923,942$1,659,509$922,025$4,586,200
80$8,679,370$1,688,012$900,099$4,946,988
81$9,510,189$1,716,247$875,776$5,342,248
82$10,424,036$1,744,150$848,921$5,775,466
83$11,429,324$1,771,651$819,397$6,250,485
84$12,535,326$1,798,672$787,058$6,771,542
85$13,752,257$1,825,135$751,752$7,343,308
86$15,091,372$1,850,952$713,321$7,970,930
87$16,565,074$1,876,030$671,598$8,660,084
88$18,187,025$1,900,269$626,411$9,417,024
89$19,972,284$1,923,565$577,578$10,248,645
90$21,937,440$1,945,802$524,909$11,162,549
91$24,100,773$1,966,861$468,208$12,167,113
92$26,482,426$1,986,611$407,267$13,271,572
93$29,104,594$2,004,915$341,871$14,486,106
94$31,991,733$2,021,627$271,795$15,821,936
95$35,170,793$2,036,590$196,803$17,291,429
96$38,671,467$2,049,636$116,649$18,908,220
97$42,526,478$2,060,589$31,078$20,687,336
98$46,771,881$2,069,261$0$22,645,341
99$51,447,408$2,075,449$0$24,808,206
100$56,596,840$2,078,943$0$27,193,090