Can I retire at age 55 with 1,010,000?

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 $1,010,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$83,405$82,662$81,937$81,230$80,539$79,598
2 years$41,290$40,521$39,775$39,053$38,352$37,405
3 years$27,253$26,481$25,737$25,021$24,332$23,409
4 years$20,236$19,466$18,730$18,027$17,354$16,461
5 years$16,027$15,262$14,535$13,846$13,192$12,332
6 years$13,222$12,462$11,747$11,073$10,438$9,612
7 years$11,219$10,466$9,762$9,104$8,489$7,698
8 years$9,717$8,971$8,279$7,637$7,043$6,285
9 years$8,550$7,811$7,130$6,505$5,931$5,207
10 years$7,617$6,885$6,216$5,607$5,053$4,363
11 years$6,854$6,129$5,473$4,880$4,346$3,689
12 years$6,219$5,501$4,857$4,280$3,766$3,141
13 years$5,681$4,972$4,339$3,779$3,284$2,691
14 years$5,221$4,519$3,899$3,355$2,879$2,316
15 years$4,823$4,128$3,520$2,992$2,535$2,002
16 years$4,475$3,788$3,192$2,679$2,240$1,736
17 years$4,168$3,488$2,904$2,407$1,986$1,510
18 years$3,895$3,223$2,651$2,169$1,766$1,316
19 years$3,652$2,987$2,427$1,960$1,574$1,150
20 years$3,433$2,776$2,227$1,775$1,406$1,007
21 years$3,235$2,586$2,049$1,611$1,258$882
22 years$3,055$2,414$1,888$1,465$1,128$775
23 years$2,891$2,257$1,743$1,334$1,013$681
24 years$2,742$2,115$1,612$1,217$910$599
25 years$2,604$1,985$1,493$1,111$819$528
26 years$2,477$1,865$1,385$1,016$738$465
27 years$2,360$1,756$1,286$930$665$410
28 years$2,251$1,654$1,196$852$600$362
29 years$2,150$1,561$1,113$781$542$320
30 years$2,056$1,474$1,036$717$490$282
31 years$1,968$1,393$966$659$443$249
32 years$1,886$1,318$901$605$400$221
33 years$1,809$1,248$842$557$362$195
34 years$1,736$1,183$786$512$328$173
35 years$1,668$1,122$735$471$297$153
36 years$1,604$1,065$688$434$269$135
37 years$1,544$1,012$644$400$244$120
38 years$1,486$962$603$369$221$106
39 years$1,432$914$565$340$201$94
40 years$1,381$870$529$314$182$83
41 years$1,332$828$496$289$165$74
42 years$1,286$789$466$267$150$65
43 years$1,242$751$437$246$136$58
44 years$1,200$716$410$228$123$51
45 years$1,160$683$385$210$112$45
46 years$1,122$652$362$194$102$40
47 years$1,086$622$340$179$92$36
48 years$1,051$594$319$166$84$32
49 years$1,018$567$300$153$76$28
50 years$986$541$282$142$69$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,010,000, adding $4,337 every year, while hoping to spend $28,903 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: 72/6/22 Blend
54$1,010,000$1,010,000$1,010,000$1,010,000
55$1,117,494$1,063,964$1,048,309$1,191,609
56$1,200,725$1,085,345$1,052,674$1,262,937
57$1,291,478$1,106,806$1,056,218$1,337,182
58$1,390,488$1,128,319$1,058,881$1,417,783
59$1,498,567$1,149,855$1,060,602$1,505,371
60$1,616,606$1,171,384$1,061,318$1,600,635
61$1,745,589$1,192,871$1,060,961$1,704,338
62$1,886,597$1,214,279$1,059,461$1,817,320
63$2,040,821$1,235,570$1,056,744$1,940,508
64$2,209,572$1,256,700$1,052,732$2,074,920
65$2,394,295$1,277,624$1,047,344$2,221,682
66$2,596,578$1,298,293$1,040,496$2,382,033
67$2,818,173$1,318,654$1,032,097$2,557,338
68$3,061,009$1,338,650$1,022,054$2,749,102
69$3,327,208$1,358,220$1,010,269$2,958,985
70$3,619,110$1,377,299$996,639$3,188,815
71$3,939,290$1,395,818$981,058$3,440,607
72$4,290,586$1,413,702$963,412$3,716,582
73$4,676,123$1,430,871$943,584$4,019,189
74$5,099,344$1,447,240$921,450$4,351,124
75$5,564,041$1,462,718$896,882$4,715,363
76$6,074,390$1,477,208$869,745$5,115,182
77$6,634,994$1,490,607$839,897$5,554,196
78$7,250,921$1,502,805$807,191$6,036,384
79$7,927,756$1,513,683$771,474$6,566,136
80$8,671,652$1,523,118$732,583$7,148,289
81$9,489,386$1,530,976$690,349$7,788,175
82$10,388,425$1,537,116$644,598$8,491,669
83$11,376,996$1,541,387$595,144$9,265,247
84$12,464,164$1,543,629$541,796$10,116,048
85$13,659,914$1,543,673$484,351$11,051,939
86$14,975,250$1,541,337$422,602$12,081,592
87$16,422,294$1,536,431$356,327$13,214,562
88$18,014,403$1,528,751$285,299$14,461,384
89$19,766,293$1,518,081$209,277$15,833,666
90$21,694,180$1,504,192$128,014$17,344,204
91$23,815,932$1,486,842$41,247$19,007,099
92$26,151,233$1,465,774$0$20,837,893
93$28,721,777$1,440,715$0$22,865,771
94$31,551,464$1,411,376$0$25,108,674
95$34,666,632$1,377,452$0$27,577,785
96$38,096,300$1,338,619$0$30,296,110
97$41,872,444$1,294,533$0$33,288,998
98$46,030,301$1,244,832$0$36,584,383
99$50,608,695$1,189,132$0$40,213,047
100$55,650,409$1,127,027$0$44,208,908