Can I retire at age 55 with 959,000?

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 $959,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$79,193$78,488$77,800$77,128$76,472$73,788
2 years$39,205$38,474$37,767$37,081$36,415$33,739
3 years$25,877$25,143$24,438$23,758$23,103$20,520
4 years$19,214$18,483$17,784$17,116$16,477$14,006
5 years$15,218$14,491$13,801$13,147$12,526$10,173
6 years$12,554$11,833$11,154$10,514$9,911$7,678
7 years$10,652$9,937$9,269$8,644$8,061$5,947
8 years$9,227$8,518$7,861$7,251$6,687$4,692
9 years$8,119$7,417$6,770$6,176$5,631$3,752
10 years$7,232$6,537$5,903$5,324$4,798$3,031
11 years$6,508$5,820$5,196$4,634$4,127$2,468
12 years$5,905$5,224$4,612$4,064$3,576$2,022
13 years$5,395$4,721$4,120$3,588$3,118$1,665
14 years$4,958$4,291$3,702$3,185$2,734$1,377
15 years$4,579$3,920$3,342$2,841$2,407$1,142
16 years$4,249$3,596$3,030$2,543$2,127$950
17 years$3,957$3,312$2,758$2,285$1,886$791
18 years$3,698$3,061$2,517$2,059$1,677$661
19 years$3,467$2,836$2,304$1,861$1,495$552
20 years$3,259$2,636$2,115$1,685$1,335$463
21 years$3,071$2,455$1,945$1,530$1,195$388
22 years$2,901$2,292$1,793$1,391$1,071$325
23 years$2,745$2,143$1,655$1,267$961$273
24 years$2,603$2,008$1,531$1,155$864$229
25 years$2,472$1,885$1,418$1,055$778$193
26 years$2,352$1,771$1,315$965$700$162
27 years$2,241$1,667$1,221$883$631$136
28 years$2,137$1,571$1,135$809$570$114
29 years$2,041$1,482$1,056$742$515$96
30 years$1,952$1,399$984$681$465$81
31 years$1,869$1,323$917$625$420$68
32 years$1,791$1,252$856$575$380$57
33 years$1,717$1,185$799$528$344$48
34 years$1,649$1,124$747$486$312$41
35 years$1,584$1,066$698$448$282$34
36 years$1,523$1,011$653$412$256$29
37 years$1,466$961$611$380$232$24
38 years$1,411$913$572$350$210$20
39 years$1,360$868$536$323$190$17
40 years$1,311$826$503$298$173$15
41 years$1,265$786$471$275$157$12
42 years$1,221$749$442$254$142$10
43 years$1,179$713$415$234$129$9
44 years$1,139$680$389$216$117$7
45 years$1,102$649$366$200$106$6
46 years$1,065$619$343$184$97$5
47 years$1,031$590$323$170$88$4
48 years$998$564$303$157$80$4
49 years$966$538$285$145$72$3
50 years$936$514$268$134$66$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $959,000, adding $6,110 every year, while hoping to spend $38,177 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: 71/23/6 Blend
54$959,000$959,000$959,000$959,000
55$1,063,120$1,012,293$997,429$1,137,353
56$1,130,939$1,021,276$990,223$1,196,157
57$1,204,395$1,029,419$981,496$1,255,164
58$1,284,024$1,036,641$971,156$1,318,682
59$1,370,413$1,042,855$959,109$1,387,144
60$1,464,210$1,047,970$945,254$1,461,027
61$1,566,126$1,051,887$929,487$1,540,860
62$1,676,943$1,054,502$911,697$1,627,221
63$1,797,523$1,055,703$891,770$1,720,751
64$1,928,811$1,055,374$869,585$1,822,155
65$2,071,851$1,053,389$845,018$1,932,210
66$2,227,790$1,049,615$817,935$2,051,775
67$2,397,889$1,043,911$788,201$2,181,794
68$2,583,539$1,036,128$755,671$2,323,309
69$2,786,269$1,026,107$720,195$2,477,471
70$3,007,763$1,013,680$681,616$2,645,545
71$3,249,873$998,669$639,769$2,828,930
72$3,514,642$980,885$594,482$3,029,166
73$3,804,315$960,128$545,577$3,247,951
74$4,121,366$936,186$492,865$3,487,159
75$4,468,522$908,835$436,152$3,748,856
76$4,848,780$877,837$375,232$4,035,319
77$5,265,445$842,941$309,892$4,349,059
78$5,722,156$803,880$239,909$4,692,846
79$6,222,920$760,375$165,050$5,069,732
80$6,772,151$712,126$85,073$5,483,084
81$7,374,710$658,820$0$5,936,616
82$8,035,952$600,123$0$6,434,436
83$8,761,774$535,685$0$6,986,855
84$9,558,674$465,132$0$7,593,414
85$10,433,809$388,074$0$8,259,617
86$11,395,062$304,094$0$8,991,533
87$12,451,119$212,755$0$9,795,853
88$13,611,547$113,594$0$10,679,950
89$14,886,887$6,122$0$11,651,953
90$16,288,750$0$0$12,720,824
91$17,829,931$0$0$13,924,326
92$19,524,524$0$0$15,249,385
93$21,388,057$0$0$16,706,600
94$23,437,640$0$0$18,309,358
95$25,692,122$0$0$20,072,405
96$28,172,273$0$0$22,011,991
97$30,900,974$0$0$24,146,019
98$33,903,440$0$0$26,494,216
99$37,207,450$0$0$29,078,315
100$40,843,614$0$0$31,922,266