Can I retire at age 55 with 960,000?

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 $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%14.6%
1 years$79,276$78,570$77,881$77,208$76,552$75,098
2 years$39,245$38,515$37,806$37,119$36,453$34,995
3 years$25,904$25,170$24,463$23,783$23,127$21,709
4 years$19,234$18,502$17,803$17,134$16,495$15,127
5 years$15,234$14,506$13,816$13,161$12,539$11,227
6 years$12,567$11,845$11,165$10,525$9,922$8,666
7 years$10,664$9,948$9,278$8,653$8,069$6,870
8 years$9,236$8,527$7,869$7,259$6,694$5,552
9 years$8,127$7,424$6,777$6,183$5,637$4,551
10 years$7,240$6,544$5,909$5,330$4,803$3,772
11 years$6,515$5,826$5,202$4,638$4,131$3,153
12 years$5,911$5,229$4,617$4,068$3,580$2,654
13 years$5,400$4,725$4,125$3,592$3,122$2,247
14 years$4,963$4,295$3,706$3,188$2,736$1,911
15 years$4,584$3,924$3,346$2,844$2,409$1,631
16 years$4,253$3,600$3,034$2,546$2,129$1,397
17 years$3,961$3,316$2,760$2,288$1,888$1,199
18 years$3,702$3,064$2,520$2,062$1,679$1,032
19 years$3,471$2,839$2,307$1,863$1,496$890
20 years$3,263$2,639$2,117$1,687$1,337$769
21 years$3,075$2,458$1,947$1,531$1,196$665
22 years$2,904$2,294$1,795$1,392$1,072$576
23 years$2,748$2,146$1,657$1,268$962$499
24 years$2,606$2,010$1,533$1,156$865$433
25 years$2,475$1,887$1,420$1,056$778$376
26 years$2,354$1,773$1,317$966$701$327
27 years$2,243$1,669$1,223$884$632$284
28 years$2,140$1,572$1,136$810$570$247
29 years$2,044$1,483$1,058$743$515$215
30 years$1,954$1,401$985$682$465$187
31 years$1,871$1,324$918$626$421$163
32 years$1,792$1,253$857$575$381$142
33 years$1,719$1,187$800$529$344$124
34 years$1,650$1,125$748$487$312$108
35 years$1,586$1,067$699$448$282$94
36 years$1,525$1,013$654$413$256$82
37 years$1,467$962$612$380$232$71
38 years$1,413$914$573$350$210$62
39 years$1,361$869$537$323$191$54
40 years$1,312$827$503$298$173$47
41 years$1,266$787$472$275$157$41
42 years$1,222$750$443$254$142$36
43 years$1,180$714$415$234$129$31
44 years$1,141$681$390$216$117$27
45 years$1,103$649$366$200$106$24
46 years$1,067$619$344$185$97$21
47 years$1,032$591$323$170$88$18
48 years$999$564$304$158$80$16
49 years$967$539$285$146$72$14
50 years$937$515$268$135$66$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $960,000, adding $2,918 every year, while hoping to spend $58,520 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: 34/44/22 Blend
54$960,000$960,000$960,000$960,000
55$1,060,930$1,010,050$995,170$1,089,788
56$1,106,880$997,278$966,243$1,098,685
57$1,155,556$981,918$934,386$1,102,714
58$1,207,173$963,783$899,439$1,105,867
59$1,261,968$942,672$861,234$1,108,100
60$1,320,200$918,374$819,597$1,109,373
61$1,382,152$890,665$774,344$1,109,648
62$1,448,132$859,308$725,285$1,108,887
63$1,518,479$824,053$672,220$1,107,057
64$1,593,565$784,632$614,941$1,104,127
65$1,673,796$740,767$553,229$1,100,070
66$1,759,618$692,159$486,856$1,094,864
67$1,851,519$638,495$415,586$1,088,494
68$1,950,036$579,442$339,170$1,080,950
69$2,055,755$514,651$257,348$1,072,233
70$2,169,323$443,749$169,849$1,062,351
71$2,291,446$366,345$76,392$1,051,325
72$2,422,903$282,026$0$1,039,188
73$2,564,547$190,353$0$1,031,468
74$2,717,316$90,865$0$1,042,244
75$2,882,239$0$0$1,053,725
76$3,060,449$0$0$1,074,291
77$3,253,190$0$0$1,144,226
78$3,461,828$0$0$1,220,046
79$3,687,867$0$0$1,302,312
80$3,932,959$0$0$1,391,640
81$4,198,922$0$0$1,488,709
82$4,487,754$0$0$1,594,266
83$4,801,654$0$0$1,709,131
84$5,143,041$0$0$1,834,208
85$5,514,575$0$0$1,970,492
86$5,919,184$0$0$2,119,076
87$6,360,090$0$0$2,281,165
88$6,840,839$0$0$2,458,084
89$7,365,333$0$0$2,651,293
90$7,937,868$0$0$2,862,397
91$8,563,170$0$0$3,093,165
92$9,246,447$0$0$3,345,543
93$9,993,427$0$0$3,621,676
94$10,810,420$0$0$3,923,923
95$11,704,374$0$0$4,254,884
96$12,682,936$0$0$4,617,421
97$13,754,529$0$0$5,014,685
98$14,928,431$0$0$5,450,148
99$16,214,854$0$0$5,927,634
100$17,625,051$0$0$6,451,352