Can I retire at age 55 with 974,000?

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 $974,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$80,432$79,716$79,017$78,334$77,668$74,557
2 years$39,818$39,076$38,358$37,661$36,985$33,890
3 years$26,282$25,537$24,820$24,130$23,465$20,483
4 years$19,515$18,772$18,063$17,384$16,735$13,889
5 years$15,456$14,718$14,017$13,353$12,722$10,019
6 years$12,751$12,018$11,328$10,678$10,066$7,508
7 years$10,819$10,093$9,414$8,779$8,187$5,773
8 years$9,371$8,651$7,984$7,365$6,792$4,519
9 years$8,246$7,533$6,876$6,273$5,720$3,585
10 years$7,346$6,640$5,995$5,407$4,873$2,872
11 years$6,610$5,911$5,278$4,706$4,191$2,319
12 years$5,997$5,305$4,684$4,128$3,632$1,884
13 years$5,479$4,794$4,185$3,644$3,167$1,537
14 years$5,035$4,358$3,760$3,235$2,776$1,259
15 years$4,651$3,981$3,395$2,885$2,445$1,035
16 years$4,315$3,653$3,078$2,583$2,160$853
17 years$4,019$3,364$2,801$2,321$1,916$704
18 years$3,756$3,108$2,557$2,092$1,703$582
19 years$3,521$2,881$2,341$1,890$1,518$482
20 years$3,310$2,677$2,148$1,712$1,356$399
21 years$3,120$2,494$1,976$1,554$1,214$331
22 years$2,946$2,328$1,821$1,413$1,088$275
23 years$2,788$2,177$1,681$1,286$976$229
24 years$2,644$2,040$1,555$1,173$878$190
25 years$2,511$1,914$1,440$1,072$790$158
26 years$2,389$1,799$1,336$980$711$131
27 years$2,276$1,693$1,240$897$641$109
28 years$2,171$1,595$1,153$822$579$91
29 years$2,073$1,505$1,073$753$523$76
30 years$1,983$1,421$999$691$472$63
31 years$1,898$1,344$932$635$427$53
32 years$1,819$1,271$869$584$386$44
33 years$1,744$1,204$812$537$349$36
34 years$1,674$1,141$758$494$316$30
35 years$1,609$1,082$709$455$287$25
36 years$1,547$1,027$663$419$260$21
37 years$1,489$976$621$386$235$18
38 years$1,433$927$581$356$213$15
39 years$1,381$882$545$328$193$12
40 years$1,332$839$511$302$175$10
41 years$1,285$799$479$279$159$8
42 years$1,240$761$449$257$144$7
43 years$1,198$725$421$238$131$6
44 years$1,157$691$396$219$119$5
45 years$1,119$659$371$203$108$4
46 years$1,082$628$349$187$98$3
47 years$1,047$600$328$173$89$3
48 years$1,014$572$308$160$81$2
49 years$982$547$289$148$73$2
50 years$951$522$272$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $974,000, adding $3,032 every year, while hoping to spend $32,676 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: 78/14/8 Blend
54$974,000$974,000$974,000$974,000
55$1,076,476$1,024,854$1,009,757$1,159,013
56$1,151,509$1,040,304$1,008,816$1,229,077
57$1,233,101$1,055,417$1,006,750$1,301,356
58$1,321,885$1,070,141$1,003,484$1,379,665
59$1,418,560$1,084,420$998,943$1,464,588
60$1,523,895$1,098,198$993,049$1,556,772
61$1,638,733$1,111,411$985,717$1,656,928
62$1,764,006$1,123,992$976,861$1,765,837
63$1,900,738$1,135,871$966,389$1,884,362
64$2,050,056$1,146,971$954,206$2,013,454
65$2,213,200$1,157,212$940,210$2,154,158
66$2,391,538$1,166,506$924,299$2,307,628
67$2,586,572$1,174,763$906,360$2,475,135
68$2,799,960$1,181,884$886,281$2,658,077
69$3,033,524$1,187,764$863,940$2,857,998
70$3,289,273$1,192,294$839,211$3,076,596
71$3,569,418$1,195,355$811,963$3,315,744
72$3,876,393$1,196,823$782,059$3,577,506
73$4,212,881$1,196,563$749,354$3,864,156
74$4,581,836$1,194,435$713,698$4,178,200
75$4,986,510$1,190,289$674,933$4,522,398
76$5,430,486$1,183,966$632,896$4,899,794
77$5,917,712$1,175,296$587,414$5,313,741
78$6,452,534$1,164,101$538,308$5,767,936
79$7,039,741$1,150,191$485,390$6,266,451
80$7,684,609$1,133,364$428,465$6,813,774
81$8,392,947$1,113,407$367,327$7,414,853
82$9,171,158$1,090,095$301,763$8,075,140
83$10,026,294$1,063,187$231,549$8,800,642
84$10,966,123$1,032,431$156,454$9,597,982
85$11,999,206$997,557$76,232$10,474,456
86$13,134,970$958,283$0$11,438,108
87$14,383,806$914,308$0$12,498,603
88$15,757,158$865,313$0$13,671,905
89$17,267,638$810,963$0$14,962,290
90$18,929,139$750,903$0$16,381,649
91$20,756,970$684,755$0$17,943,085
92$22,767,997$612,124$0$19,661,038
93$24,980,804$532,589$0$21,551,419
94$27,415,866$445,707$0$23,631,764
95$30,095,747$351,009$0$25,921,397
96$33,045,304$247,999$0$28,441,615
97$36,291,930$136,156$0$31,215,883
98$39,865,805$14,926$0$34,270,065
99$43,800,187$0$0$37,632,660
100$48,131,720$0$0$41,352,989