Can I retire at age 55 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$79,441$78,733$78,043$77,369$76,711$73,960
2 years$39,327$38,595$37,885$37,197$36,529$33,787
3 years$25,958$25,222$24,514$23,832$23,176$20,529
4 years$19,274$18,541$17,840$17,170$16,529$13,998
5 years$15,265$14,536$13,845$13,188$12,565$10,156
6 years$12,593$11,870$11,188$10,547$9,942$7,657
7 years$10,686$9,968$9,298$8,671$8,086$5,924
8 years$9,256$8,545$7,885$7,274$6,708$4,668
9 years$8,144$7,440$6,791$6,196$5,649$3,728
10 years$7,255$6,558$5,921$5,341$4,813$3,008
11 years$6,528$5,838$5,213$4,648$4,140$2,446
12 years$5,923$5,240$4,626$4,077$3,587$2,002
13 years$5,411$4,735$4,133$3,599$3,128$1,646
14 years$4,973$4,304$3,714$3,195$2,742$1,359
15 years$4,594$3,932$3,353$2,849$2,414$1,126
16 years$4,262$3,608$3,040$2,551$2,134$935
17 years$3,970$3,322$2,766$2,292$1,892$778
18 years$3,710$3,070$2,525$2,066$1,682$648
19 years$3,478$2,845$2,312$1,867$1,499$541
20 years$3,270$2,644$2,122$1,691$1,339$453
21 years$3,081$2,463$1,951$1,534$1,199$379
22 years$2,910$2,299$1,799$1,395$1,074$317
23 years$2,754$2,150$1,661$1,271$964$266
24 years$2,611$2,015$1,536$1,159$867$223
25 years$2,480$1,891$1,422$1,058$780$187
26 years$2,359$1,777$1,319$968$703$157
27 years$2,248$1,672$1,225$886$633$132
28 years$2,144$1,576$1,139$812$572$111
29 years$2,048$1,486$1,060$744$516$93
30 years$1,958$1,404$987$683$466$78
31 years$1,875$1,327$920$627$422$66
32 years$1,796$1,256$859$576$381$55
33 years$1,723$1,189$802$530$345$46
34 years$1,654$1,127$749$488$312$39
35 years$1,589$1,069$700$449$283$33
36 years$1,528$1,015$655$414$256$28
37 years$1,470$964$613$381$232$23
38 years$1,416$916$574$351$211$19
39 years$1,364$871$538$324$191$16
40 years$1,315$829$504$299$173$14
41 years$1,269$789$473$276$157$12
42 years$1,225$751$444$254$143$10
43 years$1,183$716$416$235$129$8
44 years$1,143$682$391$217$118$7
45 years$1,105$651$367$200$107$6
46 years$1,069$621$345$185$97$5
47 years$1,034$592$324$171$88$4
48 years$1,001$565$304$158$80$3
49 years$969$540$286$146$73$3
50 years$939$516$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 $962,000, adding $4,933 every year, while hoping to spend $23,126 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: 79/9/12 Blend
54$962,000$962,000$962,000$962,000
55$1,065,212$1,014,226$999,315$1,146,588
56$1,149,258$1,039,318$1,008,187$1,225,869
57$1,241,102$1,064,863$1,016,580$1,309,347
58$1,341,513$1,090,861$1,024,455$1,400,266
59$1,451,343$1,117,308$1,031,769$1,499,359
60$1,571,524$1,144,200$1,038,477$1,607,433
61$1,703,086$1,171,533$1,044,533$1,725,377
62$1,847,162$1,199,300$1,049,887$1,854,173
63$2,005,001$1,227,493$1,054,486$1,994,900
64$2,177,976$1,256,105$1,058,276$2,148,746
65$2,367,601$1,285,126$1,061,200$2,317,020
66$2,575,543$1,314,544$1,063,197$2,501,167
67$2,803,639$1,344,347$1,064,204$2,702,775
68$3,053,910$1,374,520$1,064,155$2,923,596
69$3,328,584$1,405,047$1,062,980$3,165,558
70$3,630,115$1,435,910$1,060,605$3,430,787
71$3,961,206$1,467,088$1,056,954$3,721,625
72$4,324,833$1,498,560$1,051,946$4,040,652
73$4,724,278$1,530,301$1,045,498$4,390,711
74$5,163,152$1,562,284$1,037,521$4,774,933
75$5,645,438$1,594,480$1,027,921$5,196,771
76$6,175,519$1,626,856$1,016,603$5,660,026
77$6,758,227$1,659,377$1,003,465$6,168,890
78$7,398,885$1,692,005$988,400$6,727,978
79$8,103,357$1,724,699$971,296$7,342,379
80$8,878,103$1,757,412$952,038$8,017,698
81$9,730,241$1,790,097$930,503$8,760,113
82$10,667,614$1,822,701$906,564$9,576,431
83$11,698,864$1,855,166$880,087$10,474,152
84$12,833,510$1,887,432$850,932$11,461,542
85$14,082,044$1,919,431$818,953$12,547,709
86$15,456,022$1,951,093$783,998$13,742,691
87$16,968,181$1,982,341$745,907$15,057,547
88$18,632,553$2,013,093$704,512$16,504,466
89$20,464,599$2,043,261$659,639$18,096,878
90$22,481,358$2,072,750$611,107$19,849,585
91$24,701,601$2,101,460$558,723$21,778,896
92$27,146,014$2,129,281$502,290$23,902,785
93$29,837,389$2,156,098$441,599$26,241,059
94$32,800,844$2,181,787$376,433$28,815,543
95$36,064,052$2,206,217$306,566$31,650,293
96$39,657,509$2,229,245$231,759$34,771,812
97$43,614,818$2,250,722$151,767$38,209,313
98$47,973,009$2,270,487$66,331$41,994,983
99$52,772,884$2,288,369$0$46,164,296
100$58,059,406$2,304,186$0$50,759,524