Can I retire at age 55 with 971,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%18.1%
1 years$80,184$79,470$78,773$78,093$77,429$74,890
2 years$39,695$38,956$38,239$37,545$36,871$34,338
3 years$26,201$25,458$24,743$24,055$23,392$20,944
4 years$19,455$18,714$18,007$17,330$16,684$14,339
5 years$15,408$14,672$13,974$13,311$12,683$10,447
6 years$12,711$11,981$11,293$10,645$10,035$7,912
7 years$10,786$10,062$9,385$8,752$8,161$6,149
8 years$9,342$8,625$7,959$7,342$6,771$4,868
9 years$8,220$7,509$6,855$6,254$5,702$3,907
10 years$7,323$6,619$5,976$5,391$4,858$3,168
11 years$6,589$5,893$5,261$4,692$4,178$2,590
12 years$5,979$5,289$4,669$4,115$3,621$2,131
13 years$5,462$4,780$4,172$3,633$3,157$1,762
14 years$5,020$4,345$3,748$3,225$2,768$1,463
15 years$4,637$3,969$3,384$2,876$2,437$1,218
16 years$4,302$3,641$3,068$2,575$2,154$1,018
17 years$4,007$3,354$2,792$2,314$1,910$852
18 years$3,745$3,099$2,549$2,085$1,698$714
19 years$3,511$2,872$2,333$1,884$1,513$600
20 years$3,300$2,669$2,141$1,707$1,352$505
21 years$3,110$2,486$1,970$1,549$1,210$425
22 years$2,937$2,320$1,815$1,408$1,084$358
23 years$2,780$2,170$1,676$1,282$973$302
24 years$2,636$2,033$1,550$1,170$875$255
25 years$2,503$1,908$1,436$1,068$787$215
26 years$2,381$1,793$1,332$977$709$182
27 years$2,269$1,688$1,237$894$639$154
28 years$2,164$1,590$1,150$819$577$130
29 years$2,067$1,500$1,070$751$521$110
30 years$1,977$1,417$996$689$471$93
31 years$1,892$1,339$929$633$426$78
32 years$1,813$1,267$867$582$385$66
33 years$1,739$1,200$809$535$348$56
34 years$1,669$1,138$756$492$315$48
35 years$1,604$1,079$707$453$286$40
36 years$1,542$1,024$661$417$259$34
37 years$1,484$973$619$385$235$29
38 years$1,429$924$580$354$213$24
39 years$1,377$879$543$327$193$21
40 years$1,328$836$509$301$175$17
41 years$1,281$796$477$278$159$15
42 years$1,236$758$448$257$144$13
43 years$1,194$722$420$237$131$11
44 years$1,154$689$394$219$119$9
45 years$1,115$657$370$202$108$8
46 years$1,079$626$348$187$98$6
47 years$1,044$598$327$172$89$5
48 years$1,010$571$307$159$81$5
49 years$979$545$289$147$73$4
50 years$948$521$271$136$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $971,000, adding $6,499 every year, while hoping to spend $40,414 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: 76/10/14 Blend
54$971,000$971,000$971,000$971,000
55$1,076,746$1,025,283$1,010,232$1,154,935
56$1,143,574$1,032,521$1,001,075$1,214,669
57$1,215,863$1,038,760$990,256$1,274,420
58$1,294,130$1,043,908$977,678$1,338,811
59$1,378,938$1,047,866$963,237$1,408,291
60$1,470,910$1,050,532$946,826$1,483,354
61$1,570,730$1,051,795$928,331$1,564,545
62$1,679,149$1,051,538$907,636$1,652,465
63$1,796,996$1,049,637$884,615$1,747,776
64$1,925,181$1,045,960$859,141$1,851,208
65$2,064,704$1,040,367$831,077$1,963,566
66$2,216,668$1,032,709$800,282$2,085,736
67$2,382,285$1,022,829$766,609$2,218,696
68$2,562,890$1,010,560$729,902$2,363,524
69$2,759,952$995,724$690,001$2,521,408
70$2,975,087$978,134$646,735$2,693,659
71$3,210,074$957,592$599,930$2,881,721
72$3,466,874$933,885$549,399$3,087,186
73$3,747,642$906,793$494,951$3,311,808
74$4,054,753$876,078$436,384$3,557,524
75$4,390,823$841,491$373,488$3,826,467
76$4,758,730$802,767$306,043$4,120,989
77$5,161,646$759,627$233,820$4,443,682
78$5,603,060$711,776$156,580$4,797,406
79$6,086,819$658,899$74,072$5,185,313
80$6,617,157$600,668$0$5,610,876
81$7,198,739$536,732$0$6,080,015
82$7,836,700$466,722$0$6,606,807
83$8,536,700$390,248$0$7,184,874
84$9,304,971$306,897$0$7,819,392
85$10,148,377$216,235$0$8,516,066
86$11,074,481$117,800$0$9,281,179
87$12,091,614$11,107$0$10,121,658
88$13,208,951$0$0$11,045,134
89$14,436,602$0$0$12,071,500
90$15,785,704$0$0$13,200,788
91$17,268,527$0$0$14,442,050
92$18,898,587$0$0$15,806,606
93$20,690,777$0$0$17,306,929
94$22,661,502$0$0$18,956,758
95$24,828,840$0$0$20,771,231
96$27,212,706$0$0$22,767,029
97$29,835,044$0$0$24,962,528
98$32,720,028$0$0$27,377,976
99$35,894,299$0$0$30,035,681
100$39,387,205$0$0$32,960,224