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%17.2%
1 years$80,102$79,388$78,692$78,013$77,349$75,084
2 years$39,654$38,916$38,200$37,506$36,833$34,569
3 years$26,174$25,432$24,718$24,030$23,368$21,177
4 years$19,435$18,695$17,988$17,313$16,666$14,564
5 years$15,392$14,657$13,960$13,298$12,670$10,662
6 years$12,698$11,969$11,282$10,634$10,025$8,114
7 years$10,775$10,051$9,375$8,743$8,153$6,339
8 years$9,333$8,616$7,951$7,334$6,764$5,045
9 years$8,212$7,502$6,848$6,247$5,696$4,071
10 years$7,315$6,612$5,970$5,385$4,853$3,320
11 years$6,583$5,887$5,256$4,687$4,174$2,730
12 years$5,972$5,283$4,665$4,111$3,617$2,259
13 years$5,456$4,775$4,168$3,629$3,154$1,879
14 years$5,015$4,340$3,745$3,222$2,765$1,570
15 years$4,632$3,965$3,381$2,873$2,434$1,316
16 years$4,297$3,638$3,065$2,573$2,152$1,106
17 years$4,003$3,350$2,789$2,311$1,908$932
18 years$3,741$3,096$2,546$2,083$1,696$787
19 years$3,507$2,869$2,331$1,882$1,512$666
20 years$3,297$2,666$2,139$1,705$1,350$564
21 years$3,107$2,483$1,968$1,547$1,209$478
22 years$2,934$2,318$1,814$1,407$1,083$406
23 years$2,777$2,168$1,674$1,281$972$344
24 years$2,633$2,031$1,549$1,168$874$293
25 years$2,501$1,906$1,434$1,067$786$249
26 years$2,379$1,792$1,330$976$708$212
27 years$2,266$1,686$1,235$893$639$180
28 years$2,162$1,589$1,148$818$576$154
29 years$2,065$1,499$1,069$750$520$131
30 years$1,975$1,415$995$689$470$111
31 years$1,890$1,338$928$632$425$95
32 years$1,811$1,266$866$581$385$81
33 years$1,737$1,199$808$535$348$69
34 years$1,668$1,136$755$492$315$59
35 years$1,602$1,078$706$453$285$50
36 years$1,541$1,023$661$417$259$43
37 years$1,482$972$618$384$234$36
38 years$1,427$923$579$354$212$31
39 years$1,375$878$542$326$193$27
40 years$1,326$835$508$301$175$23
41 years$1,279$795$477$278$159$19
42 years$1,235$757$447$256$144$16
43 years$1,193$722$420$237$131$14
44 years$1,152$688$394$219$119$12
45 years$1,114$656$370$202$108$10
46 years$1,078$626$347$186$98$9
47 years$1,043$597$326$172$89$7
48 years$1,009$570$307$159$81$6
49 years$978$544$288$147$73$5
50 years$947$520$271$136$66$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $970,000, adding $2,129 every year, while hoping to spend $36,367 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: 72/10/18 Blend
54$970,000$970,000$970,000$970,000
55$1,071,136$1,019,726$1,004,691$1,143,569
56$1,141,698$1,030,998$999,654$1,203,251
57$1,218,238$1,041,604$993,229$1,264,001
58$1,301,328$1,051,473$985,332$1,329,600
59$1,391,596$1,060,528$975,874$1,400,522
60$1,489,734$1,068,688$964,760$1,477,290
61$1,596,502$1,075,869$951,895$1,560,480
62$1,712,737$1,081,979$937,176$1,650,729
63$1,839,360$1,086,920$920,495$1,748,735
64$1,977,384$1,090,588$901,741$1,855,273
65$2,127,924$1,092,874$880,796$1,971,193
66$2,292,209$1,093,661$857,539$2,097,435
67$2,471,588$1,092,824$831,840$2,235,033
68$2,667,549$1,090,232$803,566$2,385,130
69$2,881,730$1,085,744$772,577$2,548,983
70$3,115,934$1,079,213$738,725$2,727,980
71$3,372,144$1,070,479$701,858$2,923,652
72$3,652,547$1,059,377$661,814$3,137,685
73$3,959,550$1,045,729$618,427$3,371,939
74$4,295,801$1,029,347$571,522$3,628,464
75$4,664,220$1,010,033$520,915$3,909,522
76$5,068,020$987,574$466,416$4,217,604
77$5,510,742$961,749$407,825$4,555,460
78$5,996,284$932,320$344,932$4,926,118
79$6,528,939$899,038$277,522$5,332,920
80$7,113,437$861,638$205,366$5,779,548
81$7,754,989$819,840$128,227$6,270,063
82$8,459,333$773,346$45,857$6,808,940
83$9,232,789$721,845$0$7,401,114
84$10,082,322$665,004$0$8,060,103
85$11,015,603$602,473$0$8,793,750
86$12,041,083$533,882$0$9,599,907
87$13,168,070$458,840$0$10,485,918
88$14,406,823$376,932$0$11,459,877
89$15,768,640$287,723$0$12,530,705
90$17,265,970$190,751$0$13,708,230
91$18,912,530$85,528$0$15,003,282
92$20,723,429$0$0$16,427,798
93$22,715,318$0$0$17,998,062
94$24,906,540$0$0$19,735,872
95$27,317,305$0$0$21,647,851
96$29,969,882$0$0$23,751,668
97$32,888,809$0$0$26,066,791
98$36,101,119$0$0$28,614,668
99$39,636,600$0$0$31,418,934
100$43,528,075$0$0$34,505,631