Can I retire at age 55 with 944,000?

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 $944,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$77,955$77,260$76,583$75,922$75,276$73,726
2 years$38,591$37,873$37,176$36,501$35,846$34,291
3 years$25,472$24,750$24,055$23,386$22,742$21,231
4 years$18,914$18,194$17,506$16,849$16,220$14,765
5 years$14,980$14,264$13,586$12,941$12,330$10,935
6 years$12,358$11,648$10,979$10,349$9,756$8,422
7 years$10,486$9,782$9,124$8,509$7,934$6,662
8 years$9,082$8,385$7,738$7,138$6,582$5,371
9 years$7,992$7,301$6,664$6,080$5,543$4,392
10 years$7,119$6,435$5,810$5,241$4,723$3,631
11 years$6,406$5,729$5,115$4,561$4,062$3,028
12 years$5,812$5,142$4,540$4,001$3,520$2,542
13 years$5,310$4,647$4,056$3,532$3,070$2,146
14 years$4,880$4,224$3,644$3,135$2,691$1,820
15 years$4,508$3,858$3,290$2,796$2,369$1,550
16 years$4,182$3,540$2,983$2,504$2,094$1,323
17 years$3,895$3,260$2,714$2,250$1,857$1,133
18 years$3,641$3,013$2,478$2,027$1,651$972
19 years$3,413$2,792$2,268$1,832$1,471$836
20 years$3,208$2,595$2,082$1,659$1,314$720
21 years$3,023$2,417$1,915$1,506$1,176$621
22 years$2,856$2,256$1,765$1,369$1,054$536
23 years$2,703$2,110$1,630$1,247$946$463
24 years$2,562$1,977$1,507$1,137$851$400
25 years$2,434$1,855$1,396$1,039$765$346
26 years$2,315$1,744$1,295$950$689$300
27 years$2,206$1,641$1,202$869$622$260
28 years$2,104$1,546$1,118$796$561$225
29 years$2,010$1,459$1,040$730$506$195
30 years$1,922$1,378$969$670$458$170
31 years$1,839$1,302$903$616$414$147
32 years$1,763$1,232$843$566$374$128
33 years$1,691$1,167$787$520$339$111
34 years$1,623$1,106$735$479$307$96
35 years$1,559$1,049$687$441$278$84
36 years$1,499$996$643$406$252$73
37 years$1,443$946$602$374$228$63
38 years$1,389$899$564$345$207$55
39 years$1,339$855$528$318$188$48
40 years$1,291$813$495$293$170$41
41 years$1,245$774$464$270$154$36
42 years$1,202$737$435$250$140$31
43 years$1,161$702$408$230$127$27
44 years$1,122$669$383$213$115$24
45 years$1,084$638$360$196$105$21
46 years$1,049$609$338$181$95$18
47 years$1,015$581$318$168$86$16
48 years$982$555$298$155$78$14
49 years$951$530$281$143$71$12
50 years$922$506$264$132$65$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $944,000, adding $5,885 every year, while hoping to spend $22,969 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: 50/23/27 Blend
54$944,000$944,000$944,000$944,000
55$1,046,358$996,326$981,694$1,090,431
56$1,128,648$1,020,708$990,142$1,146,188
57$1,218,562$1,045,514$998,103$1,203,992
58$1,316,852$1,070,741$1,005,537$1,266,368
59$1,424,349$1,096,385$1,012,401$1,333,759
60$1,541,966$1,122,442$1,018,650$1,406,657
61$1,670,708$1,148,903$1,024,236$1,485,599
62$1,811,684$1,175,762$1,029,111$1,571,181
63$1,966,111$1,203,010$1,033,222$1,664,058
64$2,135,333$1,230,637$1,036,514$1,764,952
65$2,320,830$1,258,630$1,038,929$1,874,659
66$2,524,229$1,286,978$1,040,408$1,994,057
67$2,747,325$1,315,665$1,040,887$2,124,113
68$2,992,095$1,344,675$1,040,299$2,265,893
69$3,260,714$1,373,989$1,038,574$2,420,573
70$3,555,580$1,403,588$1,035,640$2,589,449
71$3,879,334$1,433,448$1,031,418$2,773,948
72$4,234,885$1,463,546$1,025,830$2,975,647
73$4,625,438$1,493,855$1,018,790$3,196,280
74$5,054,523$1,524,344$1,010,210$3,437,760
75$5,526,029$1,554,982$999,996$3,702,198
76$6,044,241$1,585,733$988,054$3,991,919
77$6,613,879$1,616,560$974,279$4,309,485
78$7,240,144$1,647,420$958,567$4,657,724
79$7,928,765$1,678,270$940,805$5,039,749
80$8,686,054$1,709,060$920,877$5,458,996
81$9,518,967$1,739,739$898,661$5,919,249
82$10,435,164$1,770,249$874,029$6,424,680
83$11,443,090$1,800,530$846,848$6,979,892
84$12,552,045$1,830,517$816,978$7,589,952
85$13,772,280$1,860,138$784,272$8,260,453
86$15,115,085$1,889,318$748,579$8,997,554
87$16,592,906$1,917,976$709,737$9,808,048
88$18,219,450$1,946,025$667,582$10,699,422
89$20,009,825$1,973,371$621,937$11,679,927
90$21,980,676$1,999,915$572,621$12,758,662
91$24,150,344$2,025,550$519,443$13,945,653
92$26,539,039$2,050,162$462,204$15,251,952
93$29,169,030$2,073,628$400,696$16,689,743
94$32,064,854$2,095,820$334,703$18,272,454
95$35,253,551$2,116,597$263,997$20,014,887
96$38,764,915$2,135,811$188,342$21,933,357
97$42,631,776$2,153,305$107,491$24,045,847
98$46,890,311$2,168,912$21,186$26,372,178
99$51,580,385$2,182,450$0$28,934,197
100$56,745,925$2,193,731$0$31,776,415