Can I retire at age 55 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$102,398$101,486$100,596$99,727$98,879$96,294
2 years$50,692$49,748$48,833$47,946$47,085$44,498
3 years$33,459$32,511$31,598$30,719$29,873$27,365
4 years$24,844$23,899$22,995$22,132$21,306$18,896
5 years$19,677$18,737$17,845$16,999$16,196$13,892
6 years$16,233$15,300$14,422$13,594$12,815$10,618
7 years$13,774$12,849$11,985$11,177$10,422$8,333
8 years$11,930$11,014$10,164$9,376$8,646$6,663
9 years$10,497$9,590$8,754$7,986$7,282$5,403
10 years$9,352$8,453$7,632$6,884$6,204$4,429
11 years$8,415$7,525$6,719$5,991$5,336$3,660
12 years$7,635$6,754$5,963$5,255$4,624$3,045
13 years$6,975$6,104$5,328$4,640$4,032$2,547
14 years$6,410$5,548$4,787$4,118$3,535$2,139
15 years$5,921$5,068$4,322$3,673$3,112$1,803
16 years$5,494$4,650$3,918$3,289$2,750$1,525
17 years$5,117$4,283$3,566$2,955$2,439$1,292
18 years$4,782$3,957$3,255$2,663$2,168$1,098
19 years$4,483$3,668$2,980$2,406$1,933$934
20 years$4,214$3,408$2,735$2,179$1,726$796
21 years$3,971$3,174$2,515$1,978$1,545$679
22 years$3,751$2,963$2,318$1,798$1,385$580
23 years$3,550$2,771$2,141$1,638$1,243$495
24 years$3,366$2,597$1,980$1,494$1,117$424
25 years$3,197$2,437$1,834$1,364$1,005$363
26 years$3,041$2,290$1,701$1,247$906$311
27 years$2,897$2,155$1,579$1,142$817$266
28 years$2,764$2,031$1,468$1,046$737$228
29 years$2,640$1,916$1,366$959$665$196
30 years$2,524$1,810$1,272$880$601$168
31 years$2,416$1,711$1,186$809$543$144
32 years$2,315$1,619$1,107$743$492$123
33 years$2,221$1,533$1,033$683$445$106
34 years$2,132$1,453$966$629$403$91
35 years$2,048$1,378$903$579$365$78
36 years$1,969$1,308$844$533$331$67
37 years$1,895$1,242$790$491$300$58
38 years$1,825$1,180$740$453$272$49
39 years$1,758$1,123$693$417$246$42
40 years$1,695$1,068$650$385$223$36
41 years$1,635$1,017$609$355$203$31
42 years$1,579$968$572$328$184$27
43 years$1,525$922$536$303$167$23
44 years$1,473$879$504$279$152$20
45 years$1,424$839$473$258$138$17
46 years$1,378$800$444$238$125$15
47 years$1,333$763$417$220$113$13
48 years$1,290$729$392$203$103$11
49 years$1,250$696$369$188$94$9
50 years$1,211$665$346$174$85$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,240,000, adding $3,766 every year, while hoping to spend $36,469 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: 74/5/21 Blend
54$1,240,000$1,240,000$1,240,000$1,240,000
55$1,370,365$1,304,645$1,285,425$1,464,586
56$1,471,339$1,329,769$1,289,684$1,552,797
57$1,581,391$1,354,903$1,292,863$1,644,654
58$1,701,407$1,380,008$1,294,888$1,744,388
59$1,832,364$1,405,042$1,295,681$1,852,777
60$1,975,337$1,429,961$1,295,158$1,970,676
61$2,131,510$1,454,718$1,293,234$2,099,031
62$2,302,185$1,479,260$1,289,819$2,238,880
63$2,488,797$1,503,533$1,284,817$2,391,371
64$2,692,925$1,527,476$1,278,128$2,557,766
65$2,916,307$1,551,026$1,269,649$2,739,458
66$3,160,858$1,574,114$1,259,271$2,937,980
67$3,428,687$1,596,667$1,246,877$3,155,024
68$3,722,115$1,618,606$1,232,350$3,392,452
69$4,043,699$1,639,846$1,215,562$3,652,319
70$4,396,256$1,660,298$1,196,383$3,936,888
71$4,782,886$1,679,865$1,174,674$4,248,652
72$5,207,007$1,698,444$1,150,292$4,590,362
73$5,672,380$1,715,927$1,123,085$4,965,047
74$6,183,151$1,732,195$1,092,896$5,376,048
75$6,743,884$1,747,124$1,059,560$5,827,044
76$7,359,608$1,760,581$1,022,903$6,322,092
77$8,035,863$1,772,425$982,746$6,865,663
78$8,778,752$1,782,505$938,899$7,462,686
79$9,594,998$1,790,661$891,165$8,118,591
80$10,492,006$1,796,721$839,338$8,839,365
81$11,477,937$1,800,506$783,201$9,631,605
82$12,561,778$1,801,823$722,530$10,502,582
83$13,753,433$1,800,466$657,088$11,460,312
84$15,063,813$1,796,219$586,631$12,513,626
85$16,504,939$1,788,851$510,900$13,672,260
86$18,090,055$1,778,117$429,628$14,946,944
87$19,833,754$1,763,758$342,534$16,349,504
88$21,752,114$1,745,499$249,325$17,892,972
89$23,862,849$1,723,047$149,697$19,591,714
90$26,185,477$1,696,094$43,329$21,461,560
91$28,741,505$1,664,312$0$23,519,961
92$31,554,628$1,627,353$0$25,801,871
93$34,650,957$1,584,851$0$28,324,144
94$38,059,261$1,536,415$0$31,100,498
95$41,811,241$1,481,634$0$34,156,764
96$45,941,824$1,420,071$0$37,521,403
97$50,489,502$1,351,266$0$41,225,776
98$55,496,683$1,274,730$0$45,304,442
99$61,010,100$1,189,947$0$49,795,483
100$67,081,247$1,096,372$0$54,740,861