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%13%
1 years$80,432$79,716$79,017$78,334$77,668$76,698
2 years$39,818$39,076$38,358$37,661$36,985$36,008
3 years$26,282$25,537$24,820$24,130$23,465$22,512
4 years$19,515$18,772$18,063$17,384$16,735$15,815
5 years$15,456$14,718$14,017$13,353$12,722$11,836
6 years$12,751$12,018$11,328$10,678$10,066$9,215
7 years$10,819$10,093$9,414$8,779$8,187$7,371
8 years$9,371$8,651$7,984$7,365$6,792$6,012
9 years$8,246$7,533$6,876$6,273$5,720$4,975
10 years$7,346$6,640$5,995$5,407$4,873$4,164
11 years$6,610$5,911$5,278$4,706$4,191$3,516
12 years$5,997$5,305$4,684$4,128$3,632$2,990
13 years$5,479$4,794$4,185$3,644$3,167$2,558
14 years$5,035$4,358$3,760$3,235$2,776$2,199
15 years$4,651$3,981$3,395$2,885$2,445$1,898
16 years$4,315$3,653$3,078$2,583$2,160$1,643
17 years$4,019$3,364$2,801$2,321$1,916$1,427
18 years$3,756$3,108$2,557$2,092$1,703$1,243
19 years$3,521$2,881$2,341$1,890$1,518$1,084
20 years$3,310$2,677$2,148$1,712$1,356$948
21 years$3,120$2,494$1,976$1,554$1,214$829
22 years$2,946$2,328$1,821$1,413$1,088$727
23 years$2,788$2,177$1,681$1,286$976$638
24 years$2,644$2,040$1,555$1,173$878$561
25 years$2,511$1,914$1,440$1,072$790$493
26 years$2,389$1,799$1,336$980$711$434
27 years$2,276$1,693$1,240$897$641$382
28 years$2,171$1,595$1,153$822$579$336
29 years$2,073$1,505$1,073$753$523$297
30 years$1,983$1,421$999$691$472$262
31 years$1,898$1,344$932$635$427$231
32 years$1,819$1,271$869$584$386$204
33 years$1,744$1,204$812$537$349$180
34 years$1,674$1,141$758$494$316$159
35 years$1,609$1,082$709$455$287$140
36 years$1,547$1,027$663$419$260$124
37 years$1,489$976$621$386$235$110
38 years$1,433$927$581$356$213$97
39 years$1,381$882$545$328$193$86
40 years$1,332$839$511$302$175$76
41 years$1,285$799$479$279$159$67
42 years$1,240$761$449$257$144$59
43 years$1,198$725$421$238$131$52
44 years$1,157$691$396$219$119$46
45 years$1,119$659$371$203$108$41
46 years$1,082$628$349$187$98$36
47 years$1,047$600$328$173$89$32
48 years$1,014$572$308$160$81$28
49 years$982$547$289$148$73$25
50 years$951$522$272$137$67$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $974,000, adding $5,948 every year, while hoping to spend $36,028 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: 44/28/28 Blend
54$974,000$974,000$974,000$974,000
55$1,079,483$1,027,861$1,012,764$1,117,980
56$1,151,257$1,039,893$1,008,358$1,158,064
57$1,229,144$1,051,307$1,002,597$1,197,597
58$1,313,731$1,062,034$995,398$1,239,763
59$1,405,660$1,072,003$986,672$1,284,828
60$1,505,640$1,081,134$976,329$1,333,086
61$1,614,452$1,089,346$964,273$1,384,863
62$1,732,953$1,096,550$950,402$1,440,519
63$1,862,086$1,102,653$934,613$1,500,455
64$2,002,890$1,107,555$916,794$1,565,114
65$2,156,509$1,111,149$896,830$1,634,985
66$2,324,201$1,113,323$874,602$1,710,610
67$2,507,350$1,113,957$849,982$1,792,589
68$2,707,483$1,112,924$822,840$1,881,587
69$2,926,277$1,110,088$793,036$1,978,337
70$3,165,581$1,105,306$760,426$2,083,652
71$3,427,430$1,098,426$724,860$2,198,431
72$3,714,064$1,089,286$686,180$2,323,667
73$4,027,952$1,077,714$644,220$2,460,459
74$4,371,811$1,063,530$598,809$2,610,021
75$4,748,634$1,046,540$549,767$2,773,696
76$5,161,715$1,026,541$496,905$2,952,968
77$5,614,685$1,003,317$440,026$3,149,476
78$6,111,543$976,639$378,927$3,365,033
79$6,656,690$946,265$313,391$3,601,640
80$7,254,979$911,938$243,196$3,861,510
81$7,911,751$873,388$168,107$4,147,087
82$8,632,892$830,326$87,881$4,461,068
83$9,424,885$782,450$2,263$4,806,435
84$10,294,871$729,438$0$5,186,479
85$11,250,719$670,951$0$5,631,458
86$12,301,095$606,630$0$6,121,215
87$13,455,547$536,096$0$6,659,590
88$14,724,595$458,947$0$7,251,567
89$16,119,829$374,760$0$7,902,639
90$17,654,016$283,088$0$8,618,866
91$19,341,224$183,458$0$9,406,929
92$21,196,952$75,370$0$10,274,195
93$23,238,276$0$0$11,228,790
94$25,484,012$0$0$12,292,520
95$27,954,888$0$0$13,488,577
96$30,673,747$0$0$14,804,812
97$33,665,753$0$0$16,253,426
98$36,958,638$0$0$17,847,861
99$40,582,955$0$0$19,602,932
100$44,572,371$0$0$21,534,959