Can I retire at age 55 with 958,000?

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 $958,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$79,111$78,406$77,719$77,048$76,392$75,469
2 years$39,164$38,434$37,727$37,042$36,377$35,448
3 years$25,850$25,117$24,412$23,733$23,079$22,173
4 years$19,194$18,464$17,766$17,098$16,460$15,584
5 years$15,202$14,476$13,787$13,133$12,513$11,669
6 years$12,541$11,821$11,142$10,503$9,901$9,091
7 years$10,641$9,927$9,259$8,635$8,052$7,276
8 years$9,217$8,509$7,852$7,244$6,680$5,937
9 years$8,110$7,409$6,763$6,170$5,626$4,916
10 years$7,225$6,531$5,896$5,319$4,793$4,117
11 years$6,501$5,814$5,191$4,629$4,122$3,479
12 years$5,898$5,218$4,607$4,060$3,572$2,960
13 years$5,389$4,716$4,116$3,584$3,115$2,534
14 years$4,952$4,286$3,698$3,182$2,731$2,180
15 years$4,575$3,916$3,339$2,838$2,404$1,882
16 years$4,244$3,593$3,027$2,541$2,125$1,631
17 years$3,953$3,309$2,755$2,283$1,884$1,418
18 years$3,695$3,057$2,515$2,057$1,675$1,235
19 years$3,464$2,833$2,302$1,859$1,493$1,078
20 years$3,256$2,633$2,113$1,684$1,334$943
21 years$3,068$2,453$1,943$1,528$1,194$826
22 years$2,898$2,289$1,791$1,389$1,070$725
23 years$2,743$2,141$1,654$1,265$960$637
24 years$2,600$2,006$1,529$1,154$863$560
25 years$2,470$1,883$1,417$1,054$777$493
26 years$2,350$1,769$1,314$964$700$434
27 years$2,238$1,665$1,220$882$631$382
28 years$2,135$1,569$1,134$808$569$337
29 years$2,039$1,480$1,055$741$514$297
30 years$1,950$1,398$983$680$464$262
31 years$1,867$1,322$916$625$420$232
32 years$1,789$1,250$855$574$380$205
33 years$1,716$1,184$798$528$344$181
34 years$1,647$1,122$746$486$311$160
35 years$1,582$1,065$697$447$282$141
36 years$1,522$1,010$652$412$255$125
37 years$1,464$960$611$379$231$111
38 years$1,410$912$572$350$210$98
39 years$1,358$867$536$322$190$87
40 years$1,310$825$502$297$173$77
41 years$1,264$785$471$274$157$68
42 years$1,220$748$442$253$142$60
43 years$1,178$713$414$234$129$53
44 years$1,138$679$389$216$117$47
45 years$1,100$648$365$199$106$42
46 years$1,064$618$343$184$96$37
47 years$1,030$590$322$170$88$33
48 years$997$563$303$157$80$29
49 years$965$538$285$145$72$26
50 years$935$514$268$134$66$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $958,000, adding $3,366 every year, while hoping to spend $21,313 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: 71/20/9 Blend
54$958,000$958,000$958,000$958,000
55$1,059,188$1,008,414$993,565$1,132,416
56$1,144,548$1,035,149$1,004,173$1,208,028
57$1,237,901$1,062,481$1,014,421$1,287,817
58$1,340,039$1,090,414$1,024,276$1,374,572
59$1,451,835$1,118,956$1,033,701$1,468,973
60$1,574,250$1,148,113$1,042,658$1,571,770
61$1,708,343$1,177,890$1,051,107$1,683,789
62$1,855,279$1,208,292$1,059,004$1,805,939
63$2,016,342$1,239,323$1,066,306$1,939,220
64$2,192,946$1,270,987$1,072,964$2,084,737
65$2,386,649$1,303,287$1,078,930$2,243,703
66$2,599,164$1,336,226$1,084,152$2,417,456
67$2,832,382$1,369,804$1,088,574$2,607,470
68$3,088,384$1,404,023$1,092,140$2,815,367
69$3,369,462$1,438,882$1,094,789$3,042,936
70$3,678,140$1,474,381$1,096,458$3,292,146
71$4,017,201$1,510,516$1,097,079$3,565,167
72$4,389,708$1,547,284$1,096,585$3,864,389
73$4,799,038$1,584,681$1,094,900$4,192,446
74$5,248,909$1,622,700$1,091,949$4,552,240
75$5,743,419$1,661,334$1,087,650$4,946,966
76$6,287,082$1,700,572$1,081,920$5,380,147
77$6,884,869$1,740,406$1,074,669$5,855,664
78$7,542,261$1,780,821$1,065,806$6,377,792
79$8,265,294$1,821,803$1,055,232$6,951,242
80$9,060,618$1,863,335$1,042,847$7,581,205
81$9,935,561$1,905,399$1,028,543$8,273,401
82$10,898,198$1,947,973$1,012,208$9,034,132
83$11,957,424$1,991,033$993,727$9,870,343
84$13,123,040$2,034,553$972,976$10,789,686
85$14,405,847$2,078,503$949,827$11,800,592
86$15,817,744$2,122,851$924,148$12,912,354
87$17,371,844$2,167,560$895,796$14,135,210
88$19,082,594$2,212,593$864,627$15,480,443
89$20,965,913$2,257,904$830,487$16,960,484
90$23,039,343$2,303,448$793,215$18,589,035
91$25,322,212$2,349,173$752,643$20,381,191
92$27,835,818$2,395,024$708,598$22,353,590
93$30,603,631$2,440,939$660,896$24,524,565
94$33,651,511$2,486,854$609,345$26,914,316
95$37,007,953$2,532,698$553,746$29,545,108
96$40,704,357$2,578,394$493,889$32,441,472
97$44,775,325$2,623,859$429,558$35,630,444
98$49,258,985$2,669,004$360,525$39,141,817
99$54,197,349$2,713,733$286,550$43,008,419
100$59,636,716$2,757,944$207,387$47,266,432