Can I retire at age 55 with 973,000?

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 $973,000?

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$80,349$79,634$78,935$78,254$77,588$76,651
2 years$39,777$39,036$38,318$37,622$36,947$36,003
3 years$26,255$25,511$24,794$24,105$23,441$22,520
4 years$19,495$18,753$18,044$17,366$16,718$15,828
5 years$15,440$14,703$14,003$13,339$12,709$11,852
6 years$12,737$12,006$11,316$10,667$10,056$9,233
7 years$10,808$10,082$9,404$8,770$8,178$7,390
8 years$9,361$8,642$7,975$7,357$6,785$6,030
9 years$8,237$7,525$6,869$6,267$5,714$4,993
10 years$7,338$6,633$5,989$5,402$4,868$4,182
11 years$6,603$5,905$5,272$4,701$4,187$3,533
12 years$5,991$5,300$4,679$4,124$3,628$3,007
13 years$5,473$4,789$4,180$3,641$3,164$2,574
14 years$5,030$4,353$3,756$3,232$2,773$2,214
15 years$4,646$3,977$3,391$2,882$2,442$1,912
16 years$4,311$3,649$3,075$2,581$2,158$1,657
17 years$4,015$3,360$2,798$2,319$1,914$1,440
18 years$3,752$3,105$2,554$2,090$1,702$1,255
19 years$3,518$2,878$2,338$1,888$1,517$1,095
20 years$3,307$2,674$2,146$1,710$1,355$958
21 years$3,116$2,491$1,974$1,552$1,212$839
22 years$2,943$2,325$1,819$1,411$1,087$736
23 years$2,786$2,175$1,680$1,285$975$647
24 years$2,641$2,038$1,553$1,172$877$568
25 years$2,509$1,912$1,439$1,070$789$500
26 years$2,386$1,797$1,334$979$711$441
27 years$2,273$1,691$1,239$896$641$388
28 years$2,169$1,594$1,152$821$578$342
29 years$2,071$1,503$1,072$753$522$302
30 years$1,981$1,420$998$691$472$267
31 years$1,896$1,342$931$634$426$235
32 years$1,817$1,270$868$583$386$208
33 years$1,743$1,203$811$536$349$184
34 years$1,673$1,140$758$493$316$162
35 years$1,607$1,081$708$454$286$144
36 years$1,545$1,026$663$418$259$127
37 years$1,487$975$620$385$235$112
38 years$1,432$926$581$355$213$99
39 years$1,380$881$544$328$193$88
40 years$1,330$838$510$302$175$78
41 years$1,283$798$478$279$159$69
42 years$1,239$760$449$257$144$61
43 years$1,196$724$421$237$131$54
44 years$1,156$690$395$219$119$48
45 years$1,118$658$371$202$108$42
46 years$1,081$628$348$187$98$37
47 years$1,046$599$327$173$89$33
48 years$1,013$572$308$160$81$29
49 years$981$546$289$148$73$26
50 years$950$522$272$136$67$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $973,000, adding $2,749 every year, while hoping to spend $29,150 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: 44/30/26 Blend
54$973,000$973,000$973,000$973,000
55$1,075,082$1,023,513$1,008,431$1,114,167
56$1,153,725$1,042,649$1,011,198$1,161,377
57$1,239,412$1,061,747$1,013,081$1,209,508
58$1,332,832$1,080,772$1,014,019$1,261,113
59$1,434,741$1,099,690$1,013,949$1,316,533
60$1,545,973$1,118,463$1,012,804$1,376,140
61$1,667,444$1,137,050$1,010,516$1,440,349
62$1,800,165$1,155,407$1,007,009$1,509,615
63$1,945,246$1,173,486$1,002,208$1,584,442
64$2,103,912$1,191,238$996,033$1,665,386
65$2,277,509$1,208,607$988,398$1,753,060
66$2,467,522$1,225,536$979,217$1,848,142
67$2,675,584$1,241,961$968,395$1,951,379
68$2,903,494$1,257,818$955,837$2,063,598
69$3,153,234$1,273,034$941,440$2,185,708
70$3,426,984$1,287,534$925,099$2,318,716
71$3,727,149$1,301,236$906,703$2,463,732
72$4,056,376$1,314,053$886,135$2,621,980
73$4,417,578$1,325,894$863,272$2,794,812
74$4,813,968$1,336,660$837,989$2,983,721
75$5,249,083$1,346,246$810,151$3,190,352
76$5,726,817$1,354,540$779,620$3,416,523
77$6,251,465$1,361,424$746,249$3,664,237
78$6,827,752$1,366,772$709,886$3,935,707
79$7,460,888$1,370,449$670,372$4,233,374
80$8,156,609$1,372,312$627,541$4,559,928
81$8,921,238$1,372,210$581,218$4,918,343
82$9,761,738$1,369,982$531,222$5,311,893
83$10,685,780$1,365,456$477,363$5,744,195
84$11,701,817$1,358,451$419,443$6,219,238
85$12,819,162$1,348,775$357,254$6,741,419
86$14,048,075$1,336,223$290,580$7,315,592
87$15,399,859$1,320,579$219,195$7,947,109
88$16,886,971$1,301,613$142,864$8,641,875
89$18,523,132$1,279,081$61,340$9,406,400
90$20,323,462$1,252,728$0$10,247,865
91$22,304,622$1,222,278$0$11,181,311
92$24,484,967$1,187,444$0$12,226,975
93$26,884,724$1,147,918$0$13,377,532
94$29,526,178$1,103,379$0$14,643,687
95$32,433,886$1,053,482$0$16,037,237
96$35,634,905$997,865$0$17,571,188
97$39,159,050$936,145$0$19,259,875
98$43,039,173$867,916$0$21,119,100
99$47,311,475$792,750$0$23,166,278
100$52,015,844$710,193$0$25,420,609