Can I retire at age 55 with 1,020,000?

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 $1,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$84,231$83,480$82,748$82,034$81,336$78,109
2 years$41,698$40,922$40,169$39,439$38,732$35,520
3 years$27,523$26,743$25,992$25,269$24,573$21,479
4 years$20,436$19,659$18,916$18,205$17,526$14,572
5 years$16,186$15,413$14,679$13,983$13,323$10,517
6 years$13,353$12,586$11,863$11,182$10,542$7,886
7 years$11,330$10,569$9,858$9,194$8,573$6,066
8 years$9,814$9,060$8,361$7,712$7,112$4,752
9 years$8,635$7,888$7,201$6,569$5,990$3,772
10 years$7,692$6,953$6,278$5,663$5,103$3,024
11 years$6,922$6,190$5,527$4,928$4,389$2,443
12 years$6,280$5,556$4,905$4,323$3,804$1,986
13 years$5,738$5,021$4,382$3,816$3,317$1,622
14 years$5,273$4,564$3,938$3,388$2,907$1,330
15 years$4,871$4,169$3,555$3,021$2,560$1,093
16 years$4,519$3,825$3,223$2,705$2,262$901
17 years$4,209$3,523$2,933$2,431$2,006$745
18 years$3,934$3,255$2,677$2,190$1,784$616
19 years$3,688$3,017$2,451$1,979$1,590$511
20 years$3,467$2,803$2,249$1,793$1,420$423
21 years$3,267$2,611$2,069$1,627$1,271$352
22 years$3,085$2,438$1,907$1,479$1,139$292
23 years$2,920$2,280$1,761$1,347$1,023$243
24 years$2,769$2,136$1,628$1,229$919$202
25 years$2,630$2,005$1,508$1,122$827$168
26 years$2,502$1,884$1,399$1,026$745$140
27 years$2,383$1,773$1,299$939$672$117
28 years$2,273$1,671$1,208$860$606$97
29 years$2,171$1,576$1,124$789$547$81
30 years$2,076$1,488$1,047$724$494$67
31 years$1,988$1,407$976$665$447$56
32 years$1,905$1,331$910$611$404$47
33 years$1,827$1,261$850$562$366$39
34 years$1,754$1,195$794$517$331$33
35 years$1,685$1,133$743$476$300$27
36 years$1,620$1,076$695$438$272$23
37 years$1,559$1,022$650$404$246$19
38 years$1,501$971$609$372$223$16
39 years$1,446$923$570$343$203$13
40 years$1,395$879$535$317$184$11
41 years$1,345$836$501$292$167$9
42 years$1,299$796$470$270$151$8
43 years$1,254$759$441$249$137$6
44 years$1,212$723$414$230$125$5
45 years$1,172$690$389$212$113$4
46 years$1,133$658$365$196$103$4
47 years$1,097$628$343$181$93$3
48 years$1,061$599$323$167$85$3
49 years$1,028$572$303$155$77$2
50 years$996$547$285$143$70$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,020,000, adding $3,357 every year, while hoping to spend $33,859 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: 66/6/28 Blend
54$1,020,000$1,020,000$1,020,000$1,020,000
55$1,127,503$1,073,443$1,057,633$1,193,400
56$1,206,482$1,090,016$1,057,038$1,254,859
57$1,292,383$1,106,266$1,055,288$1,317,943
58$1,385,875$1,122,142$1,052,309$1,386,172
59$1,487,696$1,137,588$1,048,023$1,460,056
60$1,598,657$1,152,546$1,042,348$1,540,159
61$1,719,651$1,166,952$1,035,198$1,627,100
62$1,851,662$1,180,739$1,026,483$1,721,566
63$1,995,770$1,193,835$1,016,109$1,824,310
64$2,153,168$1,206,162$1,003,978$1,936,166
65$2,325,166$1,217,639$989,987$2,058,053
66$2,513,208$1,228,178$974,026$2,190,984
67$2,718,882$1,237,686$955,983$2,336,075
68$2,943,940$1,246,063$935,740$2,494,560
69$3,190,306$1,253,205$913,171$2,667,798
70$3,460,104$1,258,999$888,149$2,857,286
71$3,755,669$1,263,324$860,536$3,064,677
72$4,079,574$1,266,054$830,192$3,291,795
73$4,434,654$1,267,054$796,967$3,540,648
74$4,824,030$1,266,181$760,706$3,813,454
75$5,251,139$1,263,281$721,247$4,112,656
76$5,719,767$1,258,194$678,421$4,440,948
77$6,234,085$1,250,748$632,050$4,801,302
78$6,798,687$1,240,759$581,949$5,196,995
79$7,418,633$1,228,037$527,924$5,631,639
80$8,099,498$1,212,375$469,774$6,109,216
81$8,847,422$1,193,556$407,287$6,634,120
82$9,669,170$1,171,352$340,242$7,211,191
83$10,572,195$1,145,518$268,410$7,845,769
84$11,564,707$1,115,796$191,550$8,543,739
85$12,655,750$1,081,914$109,410$9,311,590
86$13,855,291$1,043,581$21,729$10,156,476
87$15,174,307$1,000,494$0$11,086,284
88$16,624,895$952,326$0$12,131,173
89$18,220,381$898,737$0$13,287,587
90$19,975,449$839,365$0$14,559,684
91$21,906,277$773,825$0$15,959,205
92$24,030,689$701,714$0$17,499,089
93$26,368,325$622,604$0$19,193,592
94$28,940,824$536,042$0$21,058,425
95$31,772,031$441,551$0$23,110,897
96$34,888,217$338,626$0$25,370,086
97$38,318,331$226,734$0$27,857,011
98$42,094,269$105,312$0$30,594,835
99$46,251,178$0$0$33,609,083
100$50,827,785$0$0$36,929,613