Can I retire at age 55 with 972,000?

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 $972,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$80,267$79,552$78,854$78,173$77,509$75,696
2 years$39,736$38,996$38,279$37,583$36,909$35,093
3 years$26,228$25,484$24,769$24,080$23,417$21,654
4 years$19,475$18,734$18,025$17,348$16,701$15,006
5 years$15,424$14,687$13,988$13,325$12,696$11,072
6 years$12,724$11,993$11,305$10,656$10,046$8,496
7 years$10,797$10,072$9,394$8,761$8,170$6,694
8 years$9,352$8,634$7,967$7,349$6,778$5,375
9 years$8,229$7,517$6,862$6,260$5,708$4,377
10 years$7,330$6,626$5,983$5,396$4,863$3,603
11 years$6,596$5,899$5,267$4,696$4,183$2,991
12 years$5,985$5,294$4,674$4,119$3,625$2,500
13 years$5,468$4,785$4,176$3,637$3,161$2,101
14 years$5,025$4,349$3,752$3,228$2,771$1,773
15 years$4,641$3,973$3,388$2,879$2,439$1,502
16 years$4,306$3,645$3,072$2,578$2,156$1,276
17 years$4,011$3,357$2,795$2,316$1,912$1,087
18 years$3,749$3,102$2,551$2,087$1,700$928
19 years$3,514$2,875$2,336$1,886$1,515$794
20 years$3,304$2,671$2,144$1,708$1,353$680
21 years$3,113$2,488$1,972$1,550$1,211$583
22 years$2,940$2,323$1,817$1,410$1,086$501
23 years$2,783$2,172$1,678$1,284$974$430
24 years$2,638$2,035$1,552$1,171$876$370
25 years$2,506$1,910$1,437$1,069$788$319
26 years$2,384$1,795$1,333$978$710$274
27 years$2,271$1,690$1,238$895$640$236
28 years$2,166$1,592$1,151$820$578$204
29 years$2,069$1,502$1,071$752$521$176
30 years$1,979$1,418$997$690$471$152
31 years$1,894$1,341$930$634$426$131
32 years$1,815$1,269$868$582$385$113
33 years$1,741$1,202$810$536$349$97
34 years$1,671$1,139$757$493$316$84
35 years$1,606$1,080$708$454$286$73
36 years$1,544$1,025$662$418$259$63
37 years$1,485$974$620$385$235$54
38 years$1,430$925$580$355$213$47
39 years$1,378$880$544$327$193$40
40 years$1,329$837$510$302$175$35
41 years$1,282$797$478$278$159$30
42 years$1,237$759$448$257$144$26
43 years$1,195$723$421$237$131$23
44 years$1,155$689$395$219$119$19
45 years$1,116$657$371$202$108$17
46 years$1,080$627$348$187$98$15
47 years$1,045$598$327$173$89$13
48 years$1,012$571$307$159$81$11
49 years$980$545$289$147$73$9
50 years$949$521$272$136$67$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $972,000, adding $6,916 every year, while hoping to spend $51,540 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: 59/28/13 Blend
54$972,000$972,000$972,000$972,000
55$1,078,278$1,026,762$1,011,696$1,138,023
56$1,133,424$1,022,235$990,750$1,174,584
57$1,192,468$1,015,759$967,374$1,208,065
58$1,255,752$1,007,184$941,434$1,243,347
59$1,323,653$996,350$912,786$1,280,608
60$1,396,585$983,090$881,284$1,320,048
61$1,475,000$967,225$846,770$1,361,888
62$1,559,396$948,565$809,083$1,406,374
63$1,650,320$926,911$768,053$1,453,781
64$1,748,372$902,048$723,501$1,504,412
65$1,854,211$873,754$675,244$1,558,605
66$1,968,562$841,790$623,087$1,616,737
67$2,092,222$805,904$566,826$1,679,223
68$2,226,065$765,830$506,251$1,746,526
69$2,371,054$721,285$441,141$1,819,160
70$2,528,246$671,974$371,264$1,897,693
71$2,698,806$617,579$296,380$1,982,758
72$2,884,012$557,768$216,237$2,075,056
73$3,085,272$492,189$130,571$2,175,361
74$3,304,134$420,470$39,109$2,284,536
75$3,542,300$342,218$0$2,403,534
76$3,801,646$257,018$0$2,541,525
77$4,084,233$164,431$0$2,697,883
78$4,392,331$63,994$0$2,868,515
79$4,728,437$0$0$3,054,904
80$5,095,301$0$0$3,272,480
81$5,495,948$0$0$3,531,701
82$5,933,711$0$0$3,815,014
83$6,412,257$0$0$4,124,801
84$6,935,623$0$0$4,463,688
85$7,508,256$0$0$4,834,562
86$8,135,052$0$0$5,240,607
87$8,821,401$0$0$5,685,325
88$9,573,240$0$0$6,172,575
89$10,397,105$0$0$6,706,606
90$11,300,198$0$0$7,292,097
91$12,290,449$0$0$7,934,204
92$13,376,590$0$0$8,638,602
93$14,568,241$0$0$9,411,544
94$15,875,999$0$0$10,259,919
95$17,311,536$0$0$11,191,312
96$18,887,706$0$0$12,214,081
97$20,618,674$0$0$13,337,432
98$22,520,039$0$0$14,571,506
99$24,608,989$0$0$15,927,477
100$26,904,456$0$0$17,417,651