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%17.5%
1 years$80,432$79,716$79,017$78,334$77,668$75,303
2 years$39,818$39,076$38,358$37,661$36,985$34,622
3 years$26,282$25,537$24,820$24,130$23,465$21,178
4 years$19,515$18,772$18,063$17,384$16,735$14,543
5 years$15,456$14,718$14,017$13,353$12,722$10,630
6 years$12,751$12,018$11,328$10,678$10,066$8,076
7 years$10,819$10,093$9,414$8,779$8,187$6,299
8 years$9,371$8,651$7,984$7,365$6,792$5,004
9 years$8,246$7,533$6,876$6,273$5,720$4,031
10 years$7,346$6,640$5,995$5,407$4,873$3,281
11 years$6,610$5,911$5,278$4,706$4,191$2,693
12 years$5,997$5,305$4,684$4,128$3,632$2,224
13 years$5,479$4,794$4,185$3,644$3,167$1,846
14 years$5,035$4,358$3,760$3,235$2,776$1,539
15 years$4,651$3,981$3,395$2,885$2,445$1,288
16 years$4,315$3,653$3,078$2,583$2,160$1,080
17 years$4,019$3,364$2,801$2,321$1,916$908
18 years$3,756$3,108$2,557$2,092$1,703$765
19 years$3,521$2,881$2,341$1,890$1,518$646
20 years$3,310$2,677$2,148$1,712$1,356$545
21 years$3,120$2,494$1,976$1,554$1,214$461
22 years$2,946$2,328$1,821$1,413$1,088$391
23 years$2,788$2,177$1,681$1,286$976$331
24 years$2,644$2,040$1,555$1,173$878$281
25 years$2,511$1,914$1,440$1,072$790$238
26 years$2,389$1,799$1,336$980$711$202
27 years$2,276$1,693$1,240$897$641$172
28 years$2,171$1,595$1,153$822$579$146
29 years$2,073$1,505$1,073$753$523$124
30 years$1,983$1,421$999$691$472$105
31 years$1,898$1,344$932$635$427$89
32 years$1,819$1,271$869$584$386$76
33 years$1,744$1,204$812$537$349$65
34 years$1,674$1,141$758$494$316$55
35 years$1,609$1,082$709$455$287$47
36 years$1,547$1,027$663$419$260$40
37 years$1,489$976$621$386$235$34
38 years$1,433$927$581$356$213$29
39 years$1,381$882$545$328$193$25
40 years$1,332$839$511$302$175$21
41 years$1,285$799$479$279$159$18
42 years$1,240$761$449$257$144$15
43 years$1,198$725$421$238$131$13
44 years$1,157$691$396$219$119$11
45 years$1,119$659$371$203$108$9
46 years$1,082$628$349$187$98$8
47 years$1,047$600$328$173$89$7
48 years$1,014$572$308$160$81$6
49 years$982$547$289$148$73$5
50 years$951$522$272$137$67$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $974,000, adding $5,132 every year, while hoping to spend $56,457 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: 67/18/15 Blend
54$974,000$974,000$974,000$974,000
55$1,078,642$1,027,020$1,011,923$1,146,764
56$1,128,593$1,017,274$985,752$1,183,120
57$1,181,748$1,005,158$956,813$1,215,748
58$1,238,372$990,497$924,952$1,250,009
59$1,298,759$973,104$890,011$1,286,060
60$1,363,229$952,783$851,823$1,324,073
61$1,432,132$929,323$810,213$1,364,243
62$1,505,854$902,504$765,000$1,406,784
63$1,584,817$872,092$715,992$1,451,933
64$1,669,482$837,839$662,992$1,499,954
65$1,760,359$799,483$605,792$1,551,141
66$1,858,003$756,745$544,174$1,605,819
67$1,963,027$709,333$477,911$1,664,350
68$2,076,102$656,937$406,767$1,727,133
69$2,197,965$599,227$330,494$1,794,615
70$2,329,426$535,858$248,835$1,867,286
71$2,471,375$466,463$161,519$1,945,693
72$2,624,790$390,655$68,264$2,030,443
73$2,790,746$308,024$0$2,122,204
74$2,970,423$218,138$0$2,226,724
75$3,165,120$120,541$0$2,351,808
76$3,376,265$14,750$0$2,487,481
77$3,605,429$0$0$2,634,807
78$3,854,338$0$0$2,814,715
79$4,124,893$0$0$3,013,497
80$4,419,182$0$0$3,229,772
81$4,739,506$0$0$3,465,238
82$5,088,394$0$0$3,721,761
83$5,468,631$0$0$4,001,396
84$5,883,280$0$0$4,306,404
85$6,335,714$0$0$4,639,274
86$6,829,645$0$0$5,002,746
87$7,369,159$0$0$5,399,836
88$7,958,755$0$0$5,833,863
89$8,603,385$0$0$6,308,483
90$9,308,501$0$0$6,827,721
91$10,080,108$0$0$7,396,008
92$10,924,816$0$0$8,018,224
93$11,849,905$0$0$8,699,742
94$12,863,392$0$0$9,446,480
95$13,974,106$0$0$10,264,955
96$15,191,770$0$0$11,162,346
97$16,527,093$0$0$12,146,557
98$17,991,871$0$0$13,226,295
99$19,599,095$0$0$14,411,151
100$21,363,076$0$0$15,711,690