Can I retire at age 55 with 956,000?

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 $956,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$78,946$78,242$77,556$76,887$76,233$73,734
2 years$39,082$38,354$37,649$36,965$36,301$33,807
3 years$25,796$25,065$24,361$23,684$23,031$20,620
4 years$19,154$18,425$17,729$17,063$16,426$14,117
5 years$15,170$14,446$13,758$13,106$12,487$10,286
6 years$12,515$11,796$11,119$10,481$9,880$7,789
7 years$10,619$9,906$9,240$8,617$8,035$6,054
8 years$9,198$8,491$7,836$7,228$6,666$4,793
9 years$8,093$7,393$6,749$6,157$5,614$3,847
10 years$7,210$6,517$5,884$5,307$4,783$3,119
11 years$6,488$5,802$5,180$4,619$4,114$2,550
12 years$5,886$5,207$4,597$4,052$3,565$2,098
13 years$5,378$4,706$4,107$3,577$3,109$1,734
14 years$4,942$4,277$3,691$3,175$2,725$1,440
15 years$4,565$3,908$3,332$2,832$2,399$1,199
16 years$4,235$3,585$3,021$2,535$2,121$1,002
17 years$3,945$3,302$2,749$2,278$1,880$839
18 years$3,687$3,051$2,509$2,053$1,672$703
19 years$3,456$2,828$2,297$1,855$1,490$591
20 years$3,249$2,628$2,108$1,680$1,331$497
21 years$3,062$2,447$1,939$1,525$1,191$418
22 years$2,892$2,285$1,787$1,386$1,068$353
23 years$2,737$2,137$1,650$1,263$958$297
24 years$2,595$2,002$1,526$1,152$861$251
25 years$2,465$1,879$1,414$1,052$775$212
26 years$2,345$1,766$1,311$962$698$179
27 years$2,234$1,662$1,217$880$630$151
28 years$2,131$1,566$1,132$806$568$128
29 years$2,035$1,477$1,053$740$513$108
30 years$1,946$1,395$981$679$463$91
31 years$1,863$1,319$915$623$419$77
32 years$1,785$1,248$853$573$379$65
33 years$1,712$1,182$797$527$343$55
34 years$1,644$1,120$744$485$311$47
35 years$1,579$1,062$696$446$281$40
36 years$1,518$1,008$651$411$255$34
37 years$1,461$958$609$379$231$28
38 years$1,407$910$571$349$209$24
39 years$1,356$865$535$322$190$20
40 years$1,307$823$501$297$172$17
41 years$1,261$784$470$274$156$15
42 years$1,217$746$441$253$142$12
43 years$1,175$711$414$233$129$10
44 years$1,136$678$388$215$117$9
45 years$1,098$646$365$199$106$7
46 years$1,062$617$342$184$96$6
47 years$1,028$589$322$170$87$5
48 years$995$562$302$157$79$5
49 years$963$537$284$145$72$4
50 years$933$513$267$134$65$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $956,000, adding $2,184 every year, while hoping to spend $34,811 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: 76/14/10 Blend
54$956,000$956,000$956,000$956,000
55$1,055,765$1,005,097$990,279$1,133,980
56$1,126,414$1,017,308$986,415$1,197,992
57$1,203,103$1,028,951$981,254$1,263,499
58$1,286,411$1,039,960$974,717$1,334,318
59$1,376,974$1,050,268$966,720$1,410,963
60$1,475,495$1,059,801$957,174$1,494,002
61$1,582,744$1,068,479$945,988$1,584,059
62$1,699,570$1,076,221$933,065$1,681,824
63$1,826,907$1,082,937$918,303$1,788,055
64$1,965,783$1,088,532$901,598$1,903,589
65$2,117,328$1,092,906$882,837$2,029,346
66$2,282,789$1,095,951$861,906$2,166,342
67$2,463,537$1,097,556$838,682$2,315,696
68$2,661,079$1,097,597$813,039$2,478,642
69$2,877,077$1,095,948$784,845$2,656,538
70$3,113,362$1,092,472$753,960$2,850,881
71$3,371,946$1,087,025$720,239$3,063,324
72$3,655,049$1,079,453$683,531$3,295,685
73$3,965,111$1,069,594$643,676$3,549,970
74$4,304,823$1,057,274$600,510$3,828,388
75$4,677,147$1,042,312$553,859$4,133,377
76$5,085,344$1,024,514$503,542$4,467,621
77$5,533,008$1,003,674$449,370$4,834,079
78$6,024,096$979,576$391,145$5,236,015
79$6,562,967$951,988$328,661$5,677,024
80$7,154,422$920,667$261,703$6,161,068
81$7,803,749$885,356$190,046$6,692,516
82$8,516,774$845,781$113,455$7,276,183
83$9,299,914$801,654$31,685$7,917,377
84$10,160,239$752,669$0$8,621,946
85$11,105,537$698,503$0$9,402,270
86$12,144,388$638,816$0$10,263,517
87$13,286,243$573,245$0$11,210,168
88$14,541,515$501,410$0$12,250,886
89$15,921,678$422,907$0$13,395,222
90$17,439,371$337,311$0$14,653,699
91$19,108,519$244,172$0$16,037,913
92$20,944,466$143,014$0$17,560,645
93$22,964,116$33,336$0$19,235,980
94$25,186,095$0$0$21,079,438
95$27,630,924$0$0$23,121,279
96$30,321,215$0$0$25,373,817
97$33,281,882$0$0$27,852,779
98$36,540,376$0$0$30,581,157
99$40,126,944$0$0$33,584,282
100$44,074,915$0$0$36,890,067