Can I retire at age 55 with 970,000?

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 $970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$80,102$79,388$78,692$78,013$77,349$76,414
2 years$39,654$38,916$38,200$37,506$36,833$35,892
3 years$26,174$25,432$24,718$24,030$23,368$22,451
4 years$19,435$18,695$17,988$17,313$16,666$15,779
5 years$15,392$14,657$13,960$13,298$12,670$11,815
6 years$12,698$11,969$11,282$10,634$10,025$9,205
7 years$10,775$10,051$9,375$8,743$8,153$7,367
8 years$9,333$8,616$7,951$7,334$6,764$6,012
9 years$8,212$7,502$6,848$6,247$5,696$4,978
10 years$7,315$6,612$5,970$5,385$4,853$4,169
11 years$6,583$5,887$5,256$4,687$4,174$3,522
12 years$5,972$5,283$4,665$4,111$3,617$2,997
13 years$5,456$4,775$4,168$3,629$3,154$2,566
14 years$5,015$4,340$3,745$3,222$2,765$2,207
15 years$4,632$3,965$3,381$2,873$2,434$1,906
16 years$4,297$3,638$3,065$2,573$2,152$1,652
17 years$4,003$3,350$2,789$2,311$1,908$1,436
18 years$3,741$3,096$2,546$2,083$1,696$1,251
19 years$3,507$2,869$2,331$1,882$1,512$1,092
20 years$3,297$2,666$2,139$1,705$1,350$955
21 years$3,107$2,483$1,968$1,547$1,209$837
22 years$2,934$2,318$1,814$1,407$1,083$734
23 years$2,777$2,168$1,674$1,281$972$645
24 years$2,633$2,031$1,549$1,168$874$567
25 years$2,501$1,906$1,434$1,067$786$499
26 years$2,379$1,792$1,330$976$708$439
27 years$2,266$1,686$1,235$893$639$387
28 years$2,162$1,589$1,148$818$576$341
29 years$2,065$1,499$1,069$750$520$301
30 years$1,975$1,415$995$689$470$266
31 years$1,890$1,338$928$632$425$235
32 years$1,811$1,266$866$581$385$207
33 years$1,737$1,199$808$535$348$183
34 years$1,668$1,136$755$492$315$162
35 years$1,602$1,078$706$453$285$143
36 years$1,541$1,023$661$417$259$127
37 years$1,482$972$618$384$234$112
38 years$1,427$923$579$354$212$99
39 years$1,375$878$542$326$193$88
40 years$1,326$835$508$301$175$78
41 years$1,279$795$477$278$159$69
42 years$1,235$757$447$256$144$61
43 years$1,193$722$420$237$131$54
44 years$1,152$688$394$219$119$48
45 years$1,114$656$370$202$108$42
46 years$1,078$626$347$186$98$37
47 years$1,043$597$326$172$89$33
48 years$1,009$570$307$159$81$29
49 years$978$544$288$147$73$26
50 years$947$520$271$136$66$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $970,000, adding $2,064 every year, while hoping to spend $27,637 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: 45/26/29 Blend
54$970,000$970,000$970,000$970,000
55$1,071,069$1,019,659$1,004,624$1,110,200
56$1,150,913$1,040,217$1,008,873$1,158,831
57$1,237,974$1,060,856$1,012,339$1,208,735
58$1,332,960$1,081,550$1,014,965$1,262,336
59$1,436,649$1,102,273$1,016,693$1,319,992
60$1,549,898$1,122,995$1,017,463$1,382,104
61$1,673,649$1,143,684$1,017,210$1,449,111
62$1,808,942$1,164,305$1,015,867$1,521,498
63$1,956,918$1,184,820$1,013,363$1,599,801
64$2,118,838$1,205,190$1,009,625$1,684,611
65$2,296,086$1,225,371$1,004,574$1,776,580
66$2,490,189$1,245,316$998,129$1,876,427
67$2,702,827$1,264,976$990,205$1,984,948
68$2,935,851$1,284,296$980,713$2,103,018
69$3,191,300$1,303,219$969,559$2,231,605
70$3,471,419$1,321,682$956,646$2,371,776
71$3,778,680$1,339,621$941,869$2,524,708
72$4,115,806$1,356,963$925,123$2,691,701
73$4,485,798$1,373,634$906,294$2,874,188
74$4,891,960$1,389,553$885,265$3,073,750
75$5,337,931$1,404,633$861,913$3,292,131
76$5,827,722$1,418,781$836,109$3,531,258
77$6,365,749$1,431,901$807,719$3,793,252
78$6,956,879$1,443,887$776,600$4,080,457
79$7,606,471$1,454,628$742,606$4,395,456
80$8,320,431$1,464,005$705,584$4,741,099
81$9,105,265$1,471,891$665,371$5,120,530
82$9,968,140$1,478,152$621,799$5,537,217
83$10,916,955$1,482,646$574,694$5,994,983
84$11,960,409$1,485,220$523,870$6,498,047
85$13,108,087$1,485,713$469,137$7,051,062
86$14,370,552$1,483,952$410,293$7,659,157
87$15,759,439$1,479,757$347,129$8,327,992
88$17,287,571$1,472,934$279,427$9,063,805
89$18,969,073$1,463,278$206,957$9,873,479
90$20,819,510$1,450,570$129,482$10,764,601
91$22,856,034$1,434,581$46,753$11,745,539
92$25,097,540$1,415,066$0$12,825,519
93$27,564,850$1,391,766$0$14,027,567
94$30,280,909$1,364,406$0$15,366,323
95$33,270,995$1,332,696$0$16,839,761
96$36,562,965$1,296,327$0$18,461,612
97$40,187,513$1,254,973$0$20,247,005
98$44,178,462$1,208,289$0$22,212,620
99$48,573,080$1,155,910$0$24,376,837
100$53,412,434$1,097,449$0$26,759,915