Can I retire at age 55 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$92,489$91,665$90,861$90,076$89,310$87,867
2 years$45,786$44,934$44,107$43,306$42,529$41,079
3 years$30,221$29,365$28,540$27,747$26,982$25,570
4 years$22,440$21,586$20,770$19,990$19,244$17,881
5 years$17,772$16,924$16,118$15,354$14,629$13,319
6 years$14,662$13,820$13,026$12,279$11,575$10,320
7 years$12,441$11,606$10,825$10,095$9,414$8,214
8 years$10,776$9,948$9,180$8,469$7,810$6,664
9 years$9,482$8,662$7,907$7,213$6,577$5,486
10 years$8,447$7,635$6,893$6,218$5,604$4,566
11 years$7,601$6,797$6,069$5,411$4,819$3,834
12 years$6,896$6,100$5,386$4,747$4,176$3,242
13 years$6,300$5,513$4,812$4,191$3,642$2,757
14 years$5,790$5,011$4,324$3,720$3,193$2,356
15 years$5,348$4,578$3,904$3,317$2,811$2,021
16 years$4,962$4,200$3,539$2,970$2,484$1,739
17 years$4,622$3,868$3,221$2,669$2,203$1,501
18 years$4,319$3,574$2,940$2,405$1,959$1,298
19 years$4,049$3,313$2,691$2,173$1,746$1,125
20 years$3,807$3,078$2,470$1,968$1,559$977
21 years$3,587$2,867$2,272$1,786$1,395$849
22 years$3,388$2,677$2,094$1,624$1,251$739
23 years$3,206$2,503$1,933$1,479$1,123$644
24 years$3,040$2,345$1,788$1,349$1,009$562
25 years$2,888$2,201$1,656$1,232$908$491
26 years$2,747$2,069$1,536$1,127$818$429
27 years$2,617$1,947$1,426$1,031$737$375
28 years$2,496$1,834$1,326$945$665$328
29 years$2,384$1,731$1,234$866$601$287
30 years$2,280$1,634$1,149$795$543$251
31 years$2,182$1,545$1,071$730$491$220
32 years$2,091$1,462$1,000$671$444$193
33 years$2,006$1,384$933$617$402$169
34 years$1,925$1,312$872$568$364$148
35 years$1,850$1,245$815$523$330$130
36 years$1,779$1,181$763$481$299$114
37 years$1,712$1,122$714$444$271$100
38 years$1,648$1,066$669$409$245$88
39 years$1,588$1,014$626$377$222$77
40 years$1,531$965$587$348$202$67
41 years$1,477$918$551$321$183$59
42 years$1,426$874$516$296$166$52
43 years$1,377$833$485$273$151$45
44 years$1,331$794$455$252$137$40
45 years$1,286$757$427$233$124$35
46 years$1,244$723$401$215$113$31
47 years$1,204$689$377$199$102$27
48 years$1,166$658$354$184$93$24
49 years$1,129$629$333$170$84$21
50 years$1,094$600$313$157$77$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,120,000, adding $4,268 every year, while hoping to spend $39,088 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: 73/15/12 Blend
54$1,120,000$1,120,000$1,120,000$1,120,000
55$1,238,642$1,179,282$1,161,922$1,325,722
56$1,323,395$1,195,478$1,159,258$1,400,067
57$1,415,482$1,211,157$1,155,193$1,476,223
58$1,515,610$1,226,253$1,149,641$1,558,575
59$1,624,557$1,240,695$1,142,510$1,647,727
60$1,743,180$1,254,406$1,133,702$1,744,342
61$1,872,419$1,267,307$1,123,115$1,849,154
62$2,013,310$1,279,309$1,110,644$1,962,969
63$2,166,994$1,290,322$1,096,177$2,086,676
64$2,334,727$1,300,247$1,079,598$2,221,255
65$2,517,889$1,308,979$1,060,785$2,367,786
66$2,718,002$1,316,407$1,039,609$2,527,460
67$2,936,739$1,322,413$1,015,938$2,701,589
68$3,175,946$1,326,870$989,630$2,891,617
69$3,437,651$1,329,645$960,541$3,099,141
70$3,724,089$1,330,595$928,517$3,325,915
71$4,037,721$1,329,569$893,398$3,573,876
72$4,381,258$1,326,407$855,016$3,845,159
73$4,757,683$1,320,939$813,196$4,142,116
74$5,170,285$1,312,983$767,756$4,467,340
75$5,622,682$1,302,347$718,504$4,823,691
76$6,118,862$1,288,829$665,241$5,214,318
77$6,663,217$1,272,212$607,757$5,642,695
78$7,260,583$1,252,268$545,835$6,112,650
79$7,916,289$1,228,756$479,246$6,628,403
80$8,636,202$1,201,417$407,753$7,194,606
81$9,426,790$1,169,981$331,108$7,816,387
82$10,295,173$1,134,161$249,050$8,499,397
83$11,249,196$1,093,651$161,310$9,249,867
84$12,297,504$1,048,129$67,603$10,074,664
85$13,449,616$997,254$0$10,981,357
86$14,716,024$940,667$0$11,982,440
87$16,108,284$877,985$0$13,092,467
88$17,639,128$808,805$0$14,312,953
89$19,322,583$732,701$0$15,655,116
90$21,174,106$649,222$0$17,131,317
91$23,210,723$557,892$0$18,755,180
92$25,451,196$458,208$0$20,541,717
93$27,916,196$349,639$0$22,507,475
94$30,628,499$231,622$0$24,670,687
95$33,613,200$103,565$0$27,051,447
96$36,897,949$0$0$29,671,900
97$40,513,212$0$0$32,562,255
98$44,492,561$0$0$35,762,568
99$48,872,983$0$0$39,285,500
100$53,695,237$0$0$43,163,839