Can I retire at age 55 with 1,070,000?

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$88,360$87,573$86,805$86,055$85,323$83,464
2 years$43,742$42,928$42,138$41,373$40,630$38,766
3 years$28,872$28,054$27,266$26,508$25,777$23,967
4 years$21,438$20,622$19,843$19,097$18,385$16,642
5 years$16,979$16,168$15,399$14,669$13,976$12,306
6 years$14,007$13,203$12,445$11,731$11,059$9,463
7 years$11,885$11,088$10,341$9,644$8,994$7,472
8 years$10,295$9,504$8,770$8,090$7,461$6,014
9 years$9,058$8,275$7,554$6,891$6,283$4,909
10 years$8,070$7,294$6,586$5,940$5,354$4,051
11 years$7,261$6,493$5,798$5,170$4,604$3,371
12 years$6,588$5,828$5,146$4,535$3,990$2,825
13 years$6,019$5,267$4,597$4,003$3,479$2,380
14 years$5,531$4,788$4,131$3,554$3,050$2,015
15 years$5,109$4,373$3,729$3,169$2,685$1,711
16 years$4,741$4,013$3,381$2,838$2,373$1,458
17 years$4,415$3,695$3,077$2,550$2,104$1,246
18 years$4,127$3,415$2,809$2,298$1,871$1,067
19 years$3,869$3,165$2,571$2,076$1,668$915
20 years$3,637$2,941$2,360$1,880$1,490$786
21 years$3,427$2,739$2,171$1,707$1,333$676
22 years$3,237$2,557$2,000$1,552$1,195$583
23 years$3,063$2,392$1,847$1,413$1,073$502
24 years$2,904$2,241$1,708$1,289$964$433
25 years$2,759$2,103$1,582$1,177$868$374
26 years$2,624$1,976$1,467$1,076$781$323
27 years$2,500$1,860$1,363$985$705$279
28 years$2,385$1,753$1,267$903$636$242
29 years$2,278$1,653$1,179$828$574$209
30 years$2,178$1,561$1,098$760$519$181
31 years$2,085$1,476$1,024$698$469$157
32 years$1,998$1,397$955$641$424$136
33 years$1,916$1,323$892$590$384$117
34 years$1,840$1,254$833$543$348$102
35 years$1,767$1,189$779$499$315$88
36 years$1,699$1,129$729$460$285$76
37 years$1,635$1,072$682$424$259$66
38 years$1,575$1,019$639$391$234$57
39 years$1,517$969$598$360$213$50
40 years$1,463$922$561$332$193$43
41 years$1,411$877$526$306$175$37
42 years$1,362$835$493$283$159$32
43 years$1,316$796$463$261$144$28
44 years$1,271$759$435$241$131$24
45 years$1,229$724$408$223$119$21
46 years$1,189$690$383$206$108$18
47 years$1,150$659$360$190$98$16
48 years$1,113$629$338$176$89$14
49 years$1,078$600$318$162$81$12
50 years$1,045$574$299$150$73$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,070,000, adding $6,186 every year, while hoping to spend $45,174 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: 46/44/10 Blend
54$1,070,000$1,070,000$1,070,000$1,070,000
55$1,185,521$1,128,811$1,112,226$1,236,468
56$1,258,379$1,136,058$1,101,421$1,279,541
57$1,337,155$1,142,146$1,088,739$1,321,082
58$1,422,404$1,146,970$1,074,072$1,365,120
59$1,514,738$1,150,420$1,057,302$1,411,900
60$1,614,828$1,152,378$1,038,308$1,461,698
61$1,723,413$1,152,717$1,016,964$1,514,816
62$1,841,306$1,151,305$993,137$1,571,591
63$1,969,401$1,148,000$966,688$1,632,397
64$2,108,680$1,142,652$937,472$1,697,647
65$2,260,225$1,135,102$905,337$1,767,801
66$2,425,226$1,125,180$870,124$1,843,369
67$2,604,992$1,112,707$831,667$1,924,913
68$2,800,965$1,097,494$789,792$2,013,059
69$3,014,731$1,079,338$744,317$2,108,499
70$3,248,035$1,058,027$695,053$2,212,000
71$3,502,798$1,033,334$641,801$2,324,412
72$3,781,137$1,005,021$584,355$2,446,675
73$4,085,379$972,833$522,497$2,579,831
74$4,418,089$936,503$456,002$2,725,031
75$4,782,089$895,747$384,633$2,883,553
76$5,180,488$850,265$308,144$3,056,808
77$5,616,709$799,738$226,277$3,246,357
78$6,094,520$743,832$138,764$3,453,929
79$6,618,072$682,191$45,324$3,681,435
80$7,191,937$614,440$0$3,930,989
81$7,821,148$540,182$0$4,210,733
82$8,511,252$458,997$0$4,522,986
83$9,268,356$370,444$0$4,865,797
84$10,099,186$274,053$0$5,242,361
85$11,011,153$169,332$0$5,656,206
86$12,012,418$55,757$0$6,111,229
87$13,111,974$0$0$6,611,732
88$14,319,724$0$0$7,195,016
89$15,646,581$0$0$7,865,612
90$17,104,563$0$0$8,602,615
91$18,706,914$0$0$9,412,736
92$20,468,221$0$0$10,303,368
93$22,404,558$0$0$11,282,655
94$24,533,631$0$0$12,359,573
95$26,874,949$0$0$13,544,008
96$29,450,008$0$0$14,846,855
97$32,282,487$0$0$16,280,114
98$35,398,479$0$0$17,857,010
99$38,826,733$0$0$19,592,114
100$42,598,923$0$0$21,501,480