Can I retire at age 55 with 971,000?

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 $971,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$80,184$79,470$78,773$78,093$77,429$76,941
2 years$39,695$38,956$38,239$37,545$36,871$36,379
3 years$26,201$25,458$24,743$24,055$23,392$22,911
4 years$19,455$18,714$18,007$17,330$16,684$16,217
5 years$15,408$14,672$13,974$13,311$12,683$12,232
6 years$12,711$11,981$11,293$10,645$10,035$9,602
7 years$10,786$10,062$9,385$8,752$8,161$7,744
8 years$9,342$8,625$7,959$7,342$6,771$6,371
9 years$8,220$7,509$6,855$6,254$5,702$5,319
10 years$7,323$6,619$5,976$5,391$4,858$4,492
11 years$6,589$5,893$5,261$4,692$4,178$3,828
12 years$5,979$5,289$4,669$4,115$3,621$3,286
13 years$5,462$4,780$4,172$3,633$3,157$2,839
14 years$5,020$4,345$3,748$3,225$2,768$2,464
15 years$4,637$3,969$3,384$2,876$2,437$2,149
16 years$4,302$3,641$3,068$2,575$2,154$1,880
17 years$4,007$3,354$2,792$2,314$1,910$1,650
18 years$3,745$3,099$2,549$2,085$1,698$1,452
19 years$3,511$2,872$2,333$1,884$1,513$1,280
20 years$3,300$2,669$2,141$1,707$1,352$1,131
21 years$3,110$2,486$1,970$1,549$1,210$1,002
22 years$2,937$2,320$1,815$1,408$1,084$888
23 years$2,780$2,170$1,676$1,282$973$788
24 years$2,636$2,033$1,550$1,170$875$700
25 years$2,503$1,908$1,436$1,068$787$623
26 years$2,381$1,793$1,332$977$709$555
27 years$2,269$1,688$1,237$894$639$494
28 years$2,164$1,590$1,150$819$577$441
29 years$2,067$1,500$1,070$751$521$393
30 years$1,977$1,417$996$689$471$351
31 years$1,892$1,339$929$633$426$314
32 years$1,813$1,267$867$582$385$280
33 years$1,739$1,200$809$535$348$251
34 years$1,669$1,138$756$492$315$224
35 years$1,604$1,079$707$453$286$200
36 years$1,542$1,024$661$417$259$179
37 years$1,484$973$619$385$235$161
38 years$1,429$924$580$354$213$144
39 years$1,377$879$543$327$193$129
40 years$1,328$836$509$301$175$115
41 years$1,281$796$477$278$159$103
42 years$1,236$758$448$257$144$92
43 years$1,194$722$420$237$131$83
44 years$1,154$689$394$219$119$74
45 years$1,115$657$370$202$108$66
46 years$1,079$626$348$187$98$60
47 years$1,044$598$327$172$89$53
48 years$1,010$571$307$159$81$48
49 years$979$545$289$147$73$43
50 years$948$521$271$136$67$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $971,000, adding $5,649 every year, while hoping to spend $45,971 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: 42/43/15 Blend
54$971,000$971,000$971,000$971,000
55$1,075,869$1,024,406$1,009,355$1,116,108
56$1,136,695$1,025,689$994,256$1,146,272
57$1,202,184$1,025,494$977,110$1,173,943
58$1,272,764$1,023,701$957,800$1,202,917
59$1,348,904$1,020,180$936,205$1,233,335
60$1,431,119$1,014,795$912,194$1,265,353
61$1,519,976$1,007,403$885,635$1,299,148
62$1,616,096$997,849$856,388$1,334,917
63$1,720,166$985,971$824,304$1,372,881
64$1,832,936$971,597$789,231$1,413,286
65$1,955,234$954,544$751,009$1,456,409
66$2,087,969$934,618$709,470$1,502,557
67$2,232,143$911,615$664,438$1,552,074
68$2,388,855$885,318$615,730$1,605,344
69$2,559,316$855,497$563,155$1,662,792
70$2,744,859$821,908$506,513$1,724,896
71$2,946,948$784,295$445,595$1,792,185
72$3,167,197$742,386$380,182$1,865,250
73$3,407,381$695,893$310,048$1,944,746
74$3,669,453$644,511$234,954$2,031,405
75$3,955,564$587,918$154,651$2,126,039
76$4,268,081$525,775$68,881$2,229,548
77$4,609,609$457,722$0$2,342,936
78$4,983,018$383,380$0$2,470,940
79$5,391,466$302,346$0$2,623,172
80$5,838,432$214,197$0$2,790,014
81$6,327,745$118,486$0$2,973,036
82$6,863,623$14,739$0$3,173,976
83$7,450,709$0$0$3,394,759
84$8,094,118$0$0$3,683,669
85$8,799,483$0$0$4,008,168
86$9,573,009$0$0$4,364,152
87$10,421,527$0$0$4,754,781
88$11,352,564$0$0$5,183,538
89$12,374,410$0$0$5,654,256
90$13,496,197$0$0$6,171,161
91$14,727,983$0$0$6,738,905
92$16,080,850$0$0$7,362,615
93$17,567,003$0$0$8,047,939
94$19,199,890$0$0$8,801,097
95$20,994,324$0$0$9,628,944
96$22,966,627$0$0$10,539,030
97$25,134,777$0$0$11,539,675
98$27,518,583$0$0$12,640,044
99$30,139,869$0$0$13,850,235
100$33,022,680$0$0$15,181,375