Can I retire at age 55 with 953,000?

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 $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%13.4%
1 years$78,698$77,997$77,313$76,645$75,994$74,920
2 years$38,959$38,234$37,531$36,849$36,187$35,108
3 years$25,715$24,986$24,285$23,609$22,959$21,907
4 years$19,094$18,367$17,673$17,009$16,374$15,358
5 years$15,122$14,400$13,715$13,065$12,448$11,470
6 years$12,476$11,759$11,084$10,448$9,849$8,911
7 years$10,586$9,875$9,211$8,590$8,010$7,112
8 years$9,169$8,465$7,811$7,206$6,645$5,787
9 years$8,068$7,370$6,728$6,138$5,596$4,778
10 years$7,187$6,496$5,866$5,291$4,768$3,989
11 years$6,467$5,783$5,164$4,605$4,101$3,360
12 years$5,868$5,191$4,583$4,039$3,554$2,850
13 years$5,361$4,691$4,095$3,566$3,099$2,432
14 years$4,927$4,264$3,679$3,165$2,716$2,085
15 years$4,551$3,895$3,322$2,823$2,392$1,794
16 years$4,222$3,574$3,012$2,528$2,114$1,550
17 years$3,933$3,291$2,740$2,271$1,874$1,342
18 years$3,675$3,041$2,502$2,047$1,667$1,165
19 years$3,446$2,819$2,290$1,849$1,485$1,013
20 years$3,239$2,619$2,102$1,675$1,327$883
21 years$3,052$2,440$1,933$1,520$1,187$771
22 years$2,883$2,277$1,782$1,382$1,064$674
23 years$2,728$2,130$1,645$1,259$955$589
24 years$2,587$1,996$1,521$1,148$859$516
25 years$2,457$1,873$1,409$1,048$773$452
26 years$2,337$1,760$1,307$959$696$397
27 years$2,227$1,657$1,214$877$628$348
28 years$2,124$1,561$1,128$804$566$306
29 years$2,029$1,473$1,050$737$511$269
30 years$1,940$1,391$978$677$462$236
31 years$1,857$1,315$912$621$418$208
32 years$1,779$1,244$851$571$378$183
33 years$1,707$1,178$794$525$342$161
34 years$1,638$1,117$742$483$310$142
35 years$1,574$1,059$694$445$280$125
36 years$1,514$1,005$649$410$254$110
37 years$1,456$955$607$377$230$97
38 years$1,402$907$569$348$209$85
39 years$1,351$863$533$321$189$75
40 years$1,303$821$500$296$172$66
41 years$1,257$781$468$273$156$58
42 years$1,213$744$439$252$141$51
43 years$1,172$709$412$233$128$45
44 years$1,132$676$387$215$116$40
45 years$1,095$644$363$198$106$35
46 years$1,059$615$341$183$96$31
47 years$1,024$587$321$169$87$27
48 years$992$560$301$156$79$24
49 years$960$535$283$145$72$21
50 years$930$511$266$134$65$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $953,000, adding $6,340 every year, while hoping to spend $24,736 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: 62/24/14 Blend
54$953,000$953,000$953,000$953,000
55$1,056,746$1,006,237$991,465$1,118,275
56$1,138,215$1,029,223$998,360$1,183,341
57$1,227,165$1,052,507$1,004,657$1,250,955
58$1,324,333$1,076,077$1,010,310$1,324,164
59$1,430,529$1,099,920$1,015,271$1,403,512
60$1,546,648$1,124,021$1,019,487$1,489,599
61$1,673,673$1,148,364$1,022,906$1,583,086
62$1,812,685$1,172,932$1,025,472$1,684,698
63$1,964,879$1,197,705$1,027,125$1,795,239
64$2,131,566$1,222,663$1,027,803$1,915,590
65$2,314,193$1,247,780$1,027,441$2,046,723
66$2,514,352$1,273,032$1,025,972$2,189,712
67$2,733,796$1,298,392$1,023,323$2,345,737
68$2,974,458$1,323,827$1,019,418$2,516,098
69$3,238,464$1,349,306$1,014,180$2,702,230
70$3,528,159$1,374,793$1,007,526$2,905,714
71$3,846,122$1,400,249$999,370$3,128,290
72$4,195,197$1,425,632$989,619$3,371,877
73$4,578,516$1,450,898$978,181$3,638,590
74$4,999,530$1,475,996$964,955$3,930,760
75$5,462,038$1,500,876$949,836$4,250,956
76$5,970,227$1,525,480$932,717$4,602,007
77$6,528,710$1,549,748$913,483$4,987,035
78$7,142,568$1,573,616$892,014$5,409,476
79$7,817,399$1,597,012$868,186$5,873,121
80$8,559,371$1,619,863$841,868$6,382,146
81$9,375,279$1,642,089$812,923$6,941,154
82$10,272,610$1,663,603$781,208$7,555,217
83$11,259,611$1,684,315$746,573$8,229,927
84$12,345,371$1,704,127$708,864$8,971,446
85$13,539,904$1,722,933$667,915$9,786,566
86$14,854,240$1,740,623$623,556$10,682,771
87$16,300,537$1,757,078$575,610$11,668,311
88$17,892,188$1,772,171$523,888$12,752,280
89$19,643,950$1,785,766$468,198$13,944,697
90$21,572,085$1,797,721$408,335$15,256,608
91$23,694,510$1,807,882$344,086$16,700,185
92$26,030,968$1,816,086$275,231$18,288,845
93$28,603,212$1,822,159$201,537$20,037,373
94$31,435,214$1,825,919$122,762$21,962,067
95$34,553,385$1,827,169$38,655$24,080,886
96$37,986,832$1,825,701$0$26,413,627
97$41,767,623$1,821,295$0$28,989,739
98$45,931,098$1,813,716$0$31,832,291
99$50,516,198$1,802,716$0$34,962,047
100$55,565,832$1,788,031$0$38,408,257