Can I retire at age 55 with 966,000?

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 $966,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$79,771$79,061$78,368$77,691$77,030$75,942
2 years$39,491$38,755$38,043$37,351$36,681$35,587
3 years$26,066$25,327$24,616$23,931$23,272$22,205
4 years$19,354$18,618$17,914$17,241$16,598$15,567
5 years$15,329$14,597$13,902$13,243$12,617$11,626
6 years$12,646$11,919$11,235$10,590$9,984$9,033
7 years$10,730$10,010$9,336$8,707$8,119$7,209
8 years$9,294$8,580$7,918$7,304$6,736$5,866
9 years$8,178$7,471$6,820$6,221$5,673$4,843
10 years$7,285$6,585$5,946$5,363$4,833$4,044
11 years$6,555$5,862$5,234$4,667$4,157$3,406
12 years$5,948$5,262$4,645$4,094$3,602$2,889
13 years$5,434$4,755$4,150$3,614$3,141$2,465
14 years$4,994$4,322$3,729$3,208$2,754$2,113
15 years$4,613$3,948$3,367$2,861$2,424$1,819
16 years$4,280$3,623$3,053$2,562$2,143$1,571
17 years$3,986$3,336$2,778$2,302$1,900$1,360
18 years$3,725$3,083$2,536$2,075$1,689$1,181
19 years$3,493$2,857$2,321$1,874$1,506$1,027
20 years$3,283$2,655$2,130$1,698$1,345$895
21 years$3,094$2,473$1,960$1,541$1,204$781
22 years$2,922$2,308$1,806$1,401$1,079$683
23 years$2,766$2,159$1,668$1,276$968$597
24 years$2,622$2,023$1,542$1,164$870$523
25 years$2,490$1,898$1,428$1,063$783$459
26 years$2,369$1,784$1,325$972$706$402
27 years$2,257$1,679$1,230$889$636$353
28 years$2,153$1,582$1,144$815$574$310
29 years$2,056$1,493$1,064$747$518$272
30 years$1,966$1,410$991$686$468$239
31 years$1,882$1,333$924$630$423$211
32 years$1,804$1,261$862$579$383$185
33 years$1,730$1,194$805$532$347$163
34 years$1,661$1,132$752$490$314$143
35 years$1,596$1,073$703$451$284$126
36 years$1,534$1,019$658$415$258$111
37 years$1,476$968$616$383$233$98
38 years$1,422$920$577$353$212$86
39 years$1,370$874$540$325$192$76
40 years$1,321$832$506$300$174$67
41 years$1,274$792$475$277$158$59
42 years$1,230$754$445$255$143$52
43 years$1,188$719$418$236$130$46
44 years$1,148$685$392$218$118$40
45 years$1,110$653$368$201$107$36
46 years$1,073$623$346$186$97$31
47 years$1,038$595$325$172$88$28
48 years$1,005$568$305$159$80$24
49 years$974$542$287$146$73$22
50 years$943$518$270$135$66$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $966,000, adding $5,847 every year, while hoping to spend $44,590 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: 77/11/12 Blend
54$966,000$966,000$966,000$966,000
55$1,070,563$1,019,365$1,004,392$1,150,075
56$1,132,317$1,021,871$990,596$1,205,756
57$1,198,876$1,023,004$974,843$1,260,543
58$1,270,682$1,022,652$957,021$1,319,357
59$1,348,222$1,020,693$937,011$1,382,585
60$1,432,030$1,016,997$914,692$1,450,650
61$1,522,696$1,011,428$889,932$1,524,019
62$1,620,864$1,003,841$862,598$1,603,207
63$1,727,246$994,083$832,548$1,688,781
64$1,842,621$981,989$799,635$1,781,368
65$1,967,849$967,388$763,704$1,881,656
66$2,103,875$950,095$724,593$1,990,408
67$2,251,738$929,917$682,135$2,108,460
68$2,412,581$906,649$636,152$2,236,739
69$2,587,661$880,071$586,460$2,376,263
70$2,778,363$849,955$532,867$2,528,156
71$2,986,210$816,057$475,171$2,693,658
72$3,212,877$778,117$413,163$2,874,136
73$3,460,209$735,864$346,623$3,071,095
74$3,730,238$689,009$275,322$3,286,198
75$4,025,197$637,245$199,021$3,521,277
76$4,347,549$580,252$117,470$3,778,352
77$4,700,001$517,686$30,407$4,059,649
78$5,085,537$449,189$0$4,367,625
79$5,507,441$374,379$0$4,712,991
80$5,969,330$292,853$0$5,095,405
81$6,475,185$204,186$0$5,514,299
82$7,029,392$107,930$0$5,973,342
83$7,636,782$3,609$0$6,476,577
84$8,302,672$0$0$7,028,462
85$9,032,921$0$0$7,647,132
86$9,833,983$0$0$8,326,308
87$10,712,963$0$0$9,071,584
88$11,677,691$0$0$9,889,602
89$12,736,789$0$0$10,787,679
90$13,899,757$0$0$11,773,873
91$15,177,057$0$0$12,857,064
92$16,580,217$0$0$14,047,031
93$18,121,935$0$0$15,354,548
94$19,816,199$0$0$16,791,487
95$21,678,423$0$0$18,370,922
96$23,725,584$0$0$20,107,262
97$25,976,388$0$0$22,016,376
98$28,451,444$0$0$24,115,753
99$31,173,458$0$0$26,424,658
100$34,167,446$0$0$28,964,318