Can I retire at age 55 with 960,000?

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 $960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$79,276$78,570$77,881$77,208$76,552$75,501
2 years$39,245$38,515$37,806$37,119$36,453$35,397
3 years$25,904$25,170$24,463$23,783$23,127$22,098
4 years$19,234$18,502$17,803$17,134$16,495$15,500
5 years$15,234$14,506$13,816$13,161$12,539$11,582
6 years$12,567$11,845$11,165$10,525$9,922$9,003
7 years$10,664$9,948$9,278$8,653$8,069$7,190
8 years$9,236$8,527$7,869$7,259$6,694$5,854
9 years$8,127$7,424$6,777$6,183$5,637$4,836
10 years$7,240$6,544$5,909$5,330$4,803$4,040
11 years$6,515$5,826$5,202$4,638$4,131$3,405
12 years$5,911$5,229$4,617$4,068$3,580$2,890
13 years$5,400$4,725$4,125$3,592$3,122$2,467
14 years$4,963$4,295$3,706$3,188$2,736$2,117
15 years$4,584$3,924$3,346$2,844$2,409$1,823
16 years$4,253$3,600$3,034$2,546$2,129$1,576
17 years$3,961$3,316$2,760$2,288$1,888$1,365
18 years$3,702$3,064$2,520$2,062$1,679$1,186
19 years$3,471$2,839$2,307$1,863$1,496$1,033
20 years$3,263$2,639$2,117$1,687$1,337$901
21 years$3,075$2,458$1,947$1,531$1,196$787
22 years$2,904$2,294$1,795$1,392$1,072$688
23 years$2,748$2,146$1,657$1,268$962$602
24 years$2,606$2,010$1,533$1,156$865$528
25 years$2,475$1,887$1,420$1,056$778$463
26 years$2,354$1,773$1,317$966$701$407
27 years$2,243$1,669$1,223$884$632$357
28 years$2,140$1,572$1,136$810$570$314
29 years$2,044$1,483$1,058$743$515$276
30 years$1,954$1,401$985$682$465$243
31 years$1,871$1,324$918$626$421$214
32 years$1,792$1,253$857$575$381$188
33 years$1,719$1,187$800$529$344$166
34 years$1,650$1,125$748$487$312$146
35 years$1,586$1,067$699$448$282$129
36 years$1,525$1,013$654$413$256$113
37 years$1,467$962$612$380$232$100
38 years$1,413$914$573$350$210$88
39 years$1,361$869$537$323$191$78
40 years$1,312$827$503$298$173$68
41 years$1,266$787$472$275$157$60
42 years$1,222$750$443$254$142$53
43 years$1,180$714$415$234$129$47
44 years$1,141$681$390$216$117$41
45 years$1,103$649$366$200$106$37
46 years$1,067$619$344$185$97$32
47 years$1,032$591$323$170$88$28
48 years$999$564$304$158$80$25
49 years$967$539$285$146$72$22
50 years$937$515$268$135$66$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $960,000, adding $6,240 every year, while hoping to spend $20,903 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: 44/29/27 Blend
54$960,000$960,000$960,000$960,000
55$1,064,357$1,013,477$998,597$1,102,610
56$1,150,680$1,040,896$1,009,809$1,157,890
57$1,245,108$1,068,959$1,020,696$1,215,300
58$1,348,446$1,097,674$1,031,226$1,277,129
59$1,461,578$1,127,051$1,041,363$1,343,800
60$1,585,481$1,157,098$1,051,070$1,415,780
61$1,721,228$1,187,825$1,060,310$1,493,581
62$1,870,004$1,219,239$1,069,041$1,577,768
63$2,033,112$1,251,348$1,077,220$1,668,964
64$2,211,985$1,284,161$1,084,803$1,767,853
65$2,408,206$1,317,683$1,091,743$1,875,192
66$2,623,516$1,351,922$1,097,989$1,991,813
67$2,859,831$1,386,883$1,103,488$2,118,633
68$3,119,265$1,422,572$1,108,187$2,256,662
69$3,404,146$1,458,993$1,112,026$2,407,015
70$3,717,035$1,496,150$1,114,945$2,570,919
71$4,060,758$1,534,047$1,116,881$2,749,726
72$4,438,425$1,572,684$1,117,766$2,944,926
73$4,853,463$1,612,065$1,117,530$3,158,162
74$5,309,648$1,652,188$1,116,099$3,391,244
75$5,811,140$1,693,053$1,113,396$3,646,168
76$6,362,521$1,734,657$1,109,340$3,925,132
77$6,968,840$1,776,997$1,103,845$4,230,560
78$7,635,659$1,820,068$1,096,822$4,565,122
79$8,369,109$1,863,864$1,088,177$4,931,762
80$9,175,940$1,908,375$1,077,814$5,333,725
81$10,063,594$1,953,594$1,065,628$5,774,587
82$11,040,267$1,999,506$1,051,513$6,258,288
83$12,114,992$2,046,099$1,035,356$6,789,173
84$13,297,720$2,093,357$1,017,040$7,372,030
85$14,599,416$2,141,261$996,440$8,012,134
86$16,032,164$2,189,790$973,428$8,715,304
87$17,609,276$2,238,920$947,868$9,487,949
88$19,345,420$2,288,626$919,620$10,337,134
89$21,256,761$2,338,877$888,536$11,270,647
90$23,361,110$2,389,641$854,461$12,297,070
91$25,678,091$2,440,881$817,233$13,425,865
92$28,229,330$2,492,557$776,684$14,667,456
93$31,038,655$2,544,626$732,636$16,033,336
94$34,132,325$2,597,040$684,906$17,536,171
95$37,539,272$2,649,745$633,301$19,189,920
96$41,291,379$2,702,684$577,618$21,009,968
97$45,423,779$2,755,795$517,648$23,013,274
98$49,975,186$2,809,010$453,170$25,218,527
99$54,988,258$2,862,255$383,955$27,646,324
100$60,510,006$2,915,451$309,762$30,319,370