Can I retire at age 55 with 961,000?

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 $961,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$79,358$78,652$77,962$77,289$76,631$73,678
2 years$39,286$38,555$37,846$37,158$36,491$33,551
3 years$25,931$25,196$24,489$23,808$23,152$20,317
4 years$19,254$18,522$17,821$17,152$16,512$13,805
5 years$15,249$14,521$13,830$13,174$12,552$9,979
6 years$12,580$11,858$11,177$10,536$9,932$7,495
7 years$10,675$9,958$9,288$8,662$8,077$5,775
8 years$9,246$8,536$7,877$7,266$6,701$4,532
9 years$8,135$7,432$6,784$6,189$5,643$3,604
10 years$7,248$6,551$5,915$5,335$4,808$2,895
11 years$6,522$5,832$5,207$4,643$4,135$2,343
12 years$5,917$5,234$4,621$4,073$3,584$1,909
13 years$5,406$4,730$4,129$3,596$3,125$1,562
14 years$4,968$4,300$3,710$3,192$2,739$1,283
15 years$4,589$3,928$3,349$2,847$2,412$1,058
16 years$4,258$3,604$3,037$2,549$2,132$874
17 years$3,966$3,319$2,763$2,290$1,890$723
18 years$3,706$3,067$2,523$2,064$1,681$600
19 years$3,474$2,842$2,309$1,865$1,498$498
20 years$3,266$2,641$2,119$1,689$1,338$414
21 years$3,078$2,460$1,949$1,533$1,197$345
22 years$2,907$2,297$1,797$1,394$1,073$287
23 years$2,751$2,148$1,659$1,269$963$239
24 years$2,609$2,012$1,534$1,158$866$200
25 years$2,478$1,889$1,421$1,057$779$166
26 years$2,357$1,775$1,318$967$702$139
27 years$2,245$1,670$1,224$885$633$116
28 years$2,142$1,574$1,138$811$571$97
29 years$2,046$1,485$1,059$743$516$81
30 years$1,956$1,402$986$682$466$68
31 years$1,873$1,326$919$627$421$56
32 years$1,794$1,254$858$576$381$47
33 years$1,721$1,188$801$530$345$39
34 years$1,652$1,126$748$487$312$33
35 years$1,587$1,068$700$449$283$28
36 years$1,526$1,014$654$413$256$23
37 years$1,469$963$613$381$232$19
38 years$1,414$915$574$351$211$16
39 years$1,363$870$537$323$191$13
40 years$1,314$828$504$298$173$11
41 years$1,268$788$472$275$157$9
42 years$1,223$750$443$254$143$8
43 years$1,182$715$416$235$129$7
44 years$1,142$681$390$217$117$5
45 years$1,104$650$366$200$107$5
46 years$1,068$620$344$185$97$4
47 years$1,033$592$323$171$88$3
48 years$1,000$565$304$158$80$3
49 years$968$539$286$146$72$2
50 years$938$515$269$135$66$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $961,000, adding $2,420 every year, while hoping to spend $59,622 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: 70/12/18 Blend
54$961,000$961,000$961,000$961,000
55$1,061,518$1,010,585$995,690$1,131,088
56$1,106,356$996,667$965,608$1,163,820
57$1,153,768$980,068$932,520$1,192,316
58$1,203,956$960,594$896,263$1,222,006
59$1,257,136$938,040$856,665$1,253,001
60$1,313,548$912,188$813,547$1,285,424
61$1,373,452$882,807$766,722$1,319,413
62$1,437,132$849,653$715,996$1,355,121
63$1,504,901$812,467$661,163$1,392,716
64$1,577,099$770,976$602,010$1,432,390
65$1,654,101$724,891$538,315$1,474,352
66$1,736,315$673,907$469,844$1,518,836
67$1,824,190$617,699$396,355$1,566,104
68$1,918,217$555,927$317,593$1,616,443
69$2,018,936$488,228$233,293$1,670,175
70$2,126,938$414,222$143,179$1,727,656
71$2,242,872$333,504$46,961$1,789,284
72$2,367,448$245,649$0$1,855,497
73$2,501,449$150,207$0$1,937,486
74$2,645,733$46,703$0$2,035,409
75$2,801,241$0$0$2,140,903
76$2,969,009$0$0$2,263,328
77$3,150,174$0$0$2,402,229
78$3,345,984$0$0$2,552,401
79$3,557,814$0$0$2,714,903
80$3,787,173$0$0$2,890,898
81$4,035,719$0$0$3,081,665
82$4,305,279$0$0$3,288,612
83$4,597,858$0$0$3,513,284
84$4,915,663$0$0$3,757,384
85$5,261,122$0$0$4,022,782
86$5,636,906$0$0$4,311,539
87$6,045,954$0$0$4,625,920
88$6,491,498$0$0$4,968,418
89$6,977,096$0$0$5,341,776
90$7,506,664$0$0$5,749,014
91$8,084,513$0$0$6,193,455
92$8,715,385$0$0$6,678,757
93$9,404,503$0$0$7,208,948
94$10,157,616$0$0$7,788,460
95$10,981,052$0$0$8,422,174
96$11,881,782$0$0$9,115,466
97$12,867,476$0$0$9,874,251
98$13,946,584$0$0$10,705,046
99$15,128,411$0$0$11,615,026
100$16,423,200$0$0$12,612,093