Can I retire at age 55 with 947,000?

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 $947,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$78,202$77,506$76,826$76,163$75,515$74,325
2 years$38,714$37,993$37,294$36,617$35,960$34,764
3 years$25,553$24,829$24,132$23,461$22,814$21,650
4 years$18,974$18,252$17,562$16,902$16,271$15,147
5 years$15,027$14,310$13,629$12,982$12,369$11,289
6 years$12,397$11,685$11,014$10,382$9,787$8,752
7 years$10,519$9,813$9,153$8,536$7,960$6,969
8 years$9,111$8,412$7,762$7,160$6,603$5,658
9 years$8,017$7,324$6,686$6,099$5,561$4,660
10 years$7,142$6,456$5,829$5,257$4,738$3,881
11 years$6,427$5,747$5,131$4,576$4,075$3,261
12 years$5,831$5,158$4,554$4,013$3,531$2,759
13 years$5,327$4,661$4,069$3,543$3,079$2,348
14 years$4,896$4,237$3,656$3,145$2,699$2,007
15 years$4,522$3,871$3,301$2,805$2,377$1,723
16 years$4,196$3,551$2,993$2,512$2,101$1,484
17 years$3,908$3,271$2,723$2,257$1,863$1,282
18 years$3,652$3,022$2,486$2,034$1,656$1,109
19 years$3,424$2,801$2,276$1,838$1,476$962
20 years$3,219$2,603$2,088$1,664$1,318$836
21 years$3,033$2,424$1,921$1,510$1,180$727
22 years$2,865$2,263$1,771$1,373$1,058$634
23 years$2,711$2,117$1,635$1,251$949$553
24 years$2,571$1,983$1,512$1,141$853$483
25 years$2,442$1,861$1,400$1,042$768$422
26 years$2,323$1,749$1,299$953$692$369
27 years$2,213$1,646$1,206$872$624$323
28 years$2,111$1,551$1,121$799$563$282
29 years$2,016$1,463$1,043$733$508$247
30 years$1,928$1,382$972$672$459$217
31 years$1,845$1,306$906$617$415$190
32 years$1,768$1,236$845$567$375$167
33 years$1,696$1,171$789$522$340$146
34 years$1,628$1,109$737$480$308$128
35 years$1,564$1,052$689$442$279$112
36 years$1,504$999$645$407$252$99
37 years$1,447$949$604$375$229$87
38 years$1,394$902$565$346$207$76
39 years$1,343$857$530$319$188$67
40 years$1,295$816$496$294$171$59
41 years$1,249$776$465$271$155$51
42 years$1,206$739$437$250$140$45
43 years$1,164$705$410$231$127$40
44 years$1,125$672$385$213$116$35
45 years$1,088$640$361$197$105$31
46 years$1,052$611$339$182$95$27
47 years$1,018$583$319$168$87$24
48 years$985$557$299$155$79$21
49 years$954$531$281$144$71$18
50 years$925$508$265$133$65$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $947,000, adding $3,480 every year, while hoping to spend $57,593 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: 85/9/6 Blend
54$947,000$947,000$947,000$947,000
55$1,047,184$996,993$982,314$1,135,602
56$1,092,718$984,567$953,943$1,181,362
57$1,140,966$969,602$922,691$1,223,385
58$1,192,145$951,912$888,402$1,267,713
59$1,246,490$931,302$850,910$1,314,539
60$1,304,260$907,564$810,043$1,364,074
61$1,365,737$880,477$765,622$1,416,551
62$1,431,231$849,809$717,459$1,472,227
63$1,501,080$815,314$665,357$1,531,384
64$1,575,655$776,729$609,112$1,594,332
65$1,655,364$733,780$548,509$1,661,412
66$1,740,650$686,175$483,323$1,733,001
67$1,832,004$633,605$413,322$1,809,513
68$1,929,961$575,744$338,261$1,891,405
69$2,035,109$512,247$257,884$1,979,179
70$2,148,093$442,750$171,926$2,073,389
71$2,269,621$366,868$80,109$2,174,644
72$2,400,472$284,195$0$2,283,618
73$2,541,499$194,299$0$2,402,196
74$2,693,641$96,728$0$2,535,597
75$2,857,928$0$0$2,679,608
76$3,035,492$0$0$2,836,133
77$3,227,579$0$0$3,015,833
78$3,435,556$0$0$3,210,411
79$3,660,928$0$0$3,421,275
80$3,905,348$0$0$3,649,974
81$4,170,636$0$0$3,898,212
82$4,458,792$0$0$4,167,863
83$4,772,017$0$0$4,460,987
84$5,112,731$0$0$4,779,852
85$5,483,598$0$0$5,126,952
86$5,887,549$0$0$5,505,032
87$6,327,808$0$0$5,917,113
88$6,807,925$0$0$6,366,519
89$7,331,807$0$0$6,856,909
90$7,903,753$0$0$7,392,311
91$8,528,496$0$0$7,977,157
92$9,211,248$0$0$8,616,329
93$9,957,746$0$0$9,315,200
94$10,774,305$0$0$10,079,686
95$11,667,880$0$0$10,916,301
96$12,646,130$0$0$11,832,218
97$13,717,487$0$0$12,835,336
98$14,891,239$0$0$13,934,353
99$16,177,612$0$0$15,138,850
100$17,587,870$0$0$16,459,375