Can I retire at age 55 with 1,030,000?

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 $1,030,000?

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%
1 years$85,056$84,299$83,560$82,838$82,134$81,074
2 years$42,107$41,323$40,563$39,826$39,111$38,045
3 years$27,793$27,005$26,247$25,517$24,814$23,774
4 years$20,637$19,852$19,101$18,384$17,697$16,693
5 years$16,344$15,564$14,823$14,120$13,453$12,486
6 years$13,484$12,709$11,979$11,292$10,645$9,717
7 years$11,441$10,673$9,955$9,284$8,657$7,768
8 years$9,910$9,149$8,443$7,788$7,182$6,332
9 years$8,720$7,966$7,272$6,634$6,048$5,237
10 years$7,768$7,021$6,339$5,718$5,154$4,380
11 years$6,990$6,251$5,581$4,977$4,432$3,696
12 years$6,342$5,610$4,953$4,365$3,841$3,141
13 years$5,794$5,070$4,425$3,854$3,349$2,686
14 years$5,325$4,609$3,976$3,421$2,936$2,307
15 years$4,918$4,210$3,590$3,051$2,585$1,990
16 years$4,563$3,863$3,255$2,732$2,285$1,722
17 years$4,250$3,557$2,962$2,454$2,026$1,494
18 years$3,972$3,287$2,704$2,212$1,801$1,300
19 years$3,724$3,046$2,475$1,999$1,605$1,133
20 years$3,501$2,831$2,272$1,810$1,434$990
21 years$3,299$2,637$2,089$1,643$1,283$866
22 years$3,116$2,461$1,926$1,494$1,150$758
23 years$2,949$2,302$1,778$1,360$1,033$665
24 years$2,796$2,157$1,644$1,241$928$584
25 years$2,655$2,024$1,523$1,133$835$513
26 years$2,526$1,902$1,413$1,036$752$451
27 years$2,407$1,790$1,312$948$678$397
28 years$2,296$1,687$1,219$869$612$349
29 years$2,193$1,592$1,135$797$553$308
30 years$2,097$1,503$1,057$731$499$271
31 years$2,007$1,421$985$672$451$239
32 years$1,923$1,344$919$617$408$211
33 years$1,845$1,273$858$568$370$186
34 years$1,771$1,207$802$522$335$164
35 years$1,701$1,145$750$481$303$145
36 years$1,636$1,086$701$443$275$128
37 years$1,574$1,032$657$408$249$113
38 years$1,516$981$615$376$226$100
39 years$1,461$932$576$347$205$88
40 years$1,408$887$540$320$186$78
41 years$1,359$844$506$295$168$69
42 years$1,311$804$475$272$153$61
43 years$1,266$766$446$251$139$54
44 years$1,224$730$418$232$126$47
45 years$1,183$697$393$214$114$42
46 years$1,144$664$369$198$104$37
47 years$1,107$634$347$183$94$33
48 years$1,072$605$326$169$86$29
49 years$1,038$578$306$156$78$26
50 years$1,006$552$288$144$71$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,030,000, adding $6,290 every year, while hoping to spend $33,898 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: 51/39/10 Blend
54$1,030,000$1,030,000$1,030,000$1,030,000
55$1,141,548$1,086,958$1,070,993$1,196,462
56$1,221,919$1,104,152$1,070,804$1,251,816
57$1,309,351$1,121,052$1,069,473$1,307,816
58$1,404,530$1,137,608$1,066,925$1,367,906
59$1,508,208$1,153,767$1,063,083$1,432,478
60$1,621,214$1,169,471$1,057,865$1,501,968
61$1,744,461$1,184,658$1,051,187$1,576,854
62$1,878,952$1,199,262$1,042,957$1,657,664
63$2,025,793$1,213,214$1,033,084$1,744,981
64$2,186,200$1,226,437$1,021,469$1,839,447
65$2,361,512$1,238,853$1,008,008$1,941,773
66$2,553,205$1,250,375$992,594$2,052,740
67$2,762,900$1,260,912$975,115$2,173,214
68$2,992,387$1,270,367$955,452$2,304,145
69$3,243,633$1,278,638$933,483$2,446,586
70$3,518,806$1,285,613$909,077$2,601,697
71$3,820,293$1,291,177$882,099$2,770,757
72$4,150,722$1,295,204$852,409$2,955,178
73$4,512,988$1,297,562$819,858$3,156,519
74$4,910,282$1,298,111$784,291$3,376,498
75$5,346,113$1,296,701$745,548$3,617,011
76$5,824,352$1,293,174$703,458$3,880,150
77$6,349,258$1,287,362$657,846$4,168,223
78$6,925,525$1,279,086$608,527$4,483,777
79$7,558,324$1,268,157$555,309$4,829,618
80$8,253,350$1,254,373$497,988$5,208,846
81$9,016,877$1,237,523$436,356$5,624,878
82$9,855,817$1,217,380$370,192$6,081,484
83$10,777,784$1,193,705$299,268$6,582,822
84$11,791,167$1,166,246$223,342$7,133,478
85$12,905,207$1,134,733$142,166$7,738,511
86$14,130,087$1,098,884$55,477$8,403,501
87$15,477,024$1,058,397$0$9,134,600
88$16,958,377$1,012,956$0$9,942,548
89$18,587,763$962,222$0$10,837,452
90$20,380,185$905,841$0$11,821,671
91$22,352,173$843,436$0$12,904,343
92$24,521,939$774,609$0$14,095,540
93$26,909,552$698,940$0$15,406,369
94$29,537,122$615,983$0$16,849,075
95$32,429,012$525,270$0$18,437,157
96$35,612,067$426,304$0$20,185,499
97$39,115,865$318,561$0$22,110,511
98$42,972,999$201,485$0$24,230,284
99$47,219,381$74,494$0$26,564,762
100$51,894,583$0$0$29,135,931