Can I retire at age 55 with 943,000?

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 $943,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$77,872$77,178$76,502$75,841$75,196$74,164
2 years$38,551$37,833$37,137$36,462$35,808$34,770
3 years$25,445$24,724$24,030$23,362$22,718$21,706
4 years$18,894$18,175$17,488$16,831$16,203$15,225
5 years$14,964$14,249$13,571$12,928$12,317$11,377
6 years$12,345$11,636$10,967$10,338$9,746$8,844
7 years$10,475$9,772$9,114$8,500$7,926$7,062
8 years$9,073$8,376$7,729$7,130$6,575$5,750
9 years$7,983$7,293$6,657$6,073$5,537$4,750
10 years$7,112$6,428$5,804$5,235$4,718$3,968
11 years$6,399$5,723$5,110$4,556$4,058$3,344
12 years$5,806$5,136$4,535$3,996$3,516$2,839
13 years$5,305$4,642$4,052$3,528$3,066$2,424
14 years$4,875$4,219$3,640$3,132$2,688$2,079
15 years$4,503$3,854$3,287$2,793$2,367$1,791
16 years$4,178$3,536$2,980$2,501$2,092$1,548
17 years$3,891$3,257$2,712$2,247$1,855$1,341
18 years$3,637$3,009$2,475$2,025$1,649$1,165
19 years$3,409$2,789$2,266$1,830$1,470$1,014
20 years$3,205$2,592$2,080$1,657$1,313$885
21 years$3,020$2,414$1,913$1,504$1,175$773
22 years$2,853$2,254$1,763$1,368$1,053$676
23 years$2,700$2,108$1,628$1,245$945$592
24 years$2,560$1,975$1,505$1,136$850$519
25 years$2,431$1,853$1,394$1,037$765$455
26 years$2,313$1,742$1,293$949$689$399
27 years$2,203$1,639$1,201$868$621$351
28 years$2,102$1,545$1,116$795$560$308
29 years$2,007$1,457$1,039$729$506$271
30 years$1,920$1,376$968$669$457$239
31 years$1,837$1,301$902$615$413$210
32 years$1,761$1,231$842$565$374$185
33 years$1,689$1,166$786$520$338$163
34 years$1,621$1,105$734$478$306$143
35 years$1,558$1,048$687$440$277$126
36 years$1,498$995$642$405$251$111
37 years$1,441$945$601$373$228$98
38 years$1,388$898$563$344$207$87
39 years$1,337$854$527$317$187$76
40 years$1,289$812$494$293$170$67
41 years$1,244$773$464$270$154$59
42 years$1,201$736$435$249$140$52
43 years$1,160$702$408$230$127$46
44 years$1,120$669$383$212$115$41
45 years$1,083$638$360$196$105$36
46 years$1,048$608$338$181$95$32
47 years$1,014$581$317$167$86$28
48 years$981$554$298$155$78$25
49 years$950$529$280$143$71$22
50 years$921$506$263$132$65$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $943,000, adding $5,673 every year, while hoping to spend $40,404 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: 58/22/20 Blend
54$943,000$943,000$943,000$943,000
55$1,045,038$995,059$980,442$1,099,795
56$1,108,642$1,000,827$970,297$1,143,426
57$1,177,380$1,005,524$958,459$1,186,101
58$1,251,732$1,009,054$944,827$1,231,728
59$1,332,227$1,011,316$929,297$1,280,600
60$1,419,447$1,012,203$911,761$1,333,041
61$1,514,030$1,011,601$892,104$1,389,410
62$1,616,679$1,009,387$870,208$1,450,103
63$1,728,167$1,005,434$845,947$1,515,560
64$1,849,345$999,605$819,190$1,586,265
65$1,981,147$991,754$789,802$1,662,754
66$2,124,602$981,729$757,639$1,745,621
67$2,280,844$969,366$722,552$1,835,520
68$2,451,118$954,492$684,385$1,933,177
69$2,636,794$936,925$642,975$2,039,391
70$2,839,383$916,470$598,150$2,155,047
71$3,060,546$892,923$549,734$2,281,124
72$3,302,111$866,065$497,539$2,418,701
73$3,566,091$835,668$441,372$2,568,972
74$3,854,703$801,486$381,029$2,733,256
75$4,170,387$763,263$316,297$2,913,009
76$4,515,830$720,726$246,957$3,109,839
77$4,893,990$673,587$172,775$3,325,525
78$5,308,124$621,540$93,510$3,562,027
79$5,761,822$564,264$8,911$3,821,513
80$6,259,032$501,418$0$4,106,374
81$6,804,108$432,642$0$4,436,618
82$7,401,841$357,556$0$4,800,955
83$8,057,510$275,757$0$5,200,760
84$8,776,929$186,822$0$5,639,652
85$9,566,501$90,301$0$6,121,620
86$10,433,281$0$0$6,651,064
87$11,385,038$0$0$7,236,289
88$12,430,333$0$0$7,903,122
89$13,578,595$0$0$8,635,727
90$14,840,212$0$0$9,440,742
91$16,226,626$0$0$10,325,480
92$17,750,445$0$0$11,297,997
93$19,425,557$0$0$12,367,169
94$21,267,265$0$0$13,542,776
95$23,292,426$0$0$14,835,590
96$25,519,615$0$0$16,257,482
97$27,969,294$0$0$17,821,530
98$30,664,012$0$0$19,542,143
99$33,628,609$0$0$21,435,197
100$36,890,456$0$0$23,518,185