Can I retire at age 55 with 958,000?

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 $958,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$79,111$78,406$77,719$77,048$76,392$74,334
2 years$39,164$38,434$37,727$37,042$36,377$34,319
3 years$25,850$25,117$24,412$23,733$23,079$21,084
4 years$19,194$18,464$17,766$17,098$16,460$14,545
5 years$15,202$14,476$13,787$13,133$12,513$10,681
6 years$12,541$11,821$11,142$10,503$9,901$8,156
7 years$10,641$9,927$9,259$8,635$8,052$6,393
8 years$9,217$8,509$7,852$7,244$6,680$5,106
9 years$8,110$7,409$6,763$6,170$5,626$4,136
10 years$7,225$6,531$5,896$5,319$4,793$3,385
11 years$6,501$5,814$5,191$4,629$4,122$2,794
12 years$5,898$5,218$4,607$4,060$3,572$2,322
13 years$5,389$4,716$4,116$3,584$3,115$1,939
14 years$4,952$4,286$3,698$3,182$2,731$1,627
15 years$4,575$3,916$3,339$2,838$2,404$1,369
16 years$4,244$3,593$3,027$2,541$2,125$1,156
17 years$3,953$3,309$2,755$2,283$1,884$979
18 years$3,695$3,057$2,515$2,057$1,675$830
19 years$3,464$2,833$2,302$1,859$1,493$705
20 years$3,256$2,633$2,113$1,684$1,334$600
21 years$3,068$2,453$1,943$1,528$1,194$511
22 years$2,898$2,289$1,791$1,389$1,070$436
23 years$2,743$2,141$1,654$1,265$960$372
24 years$2,600$2,006$1,529$1,154$863$317
25 years$2,470$1,883$1,417$1,054$777$271
26 years$2,350$1,769$1,314$964$700$232
27 years$2,238$1,665$1,220$882$631$198
28 years$2,135$1,569$1,134$808$569$170
29 years$2,039$1,480$1,055$741$514$145
30 years$1,950$1,398$983$680$464$124
31 years$1,867$1,322$916$625$420$107
32 years$1,789$1,250$855$574$380$91
33 years$1,716$1,184$798$528$344$78
34 years$1,647$1,122$746$486$311$67
35 years$1,582$1,065$697$447$282$57
36 years$1,522$1,010$652$412$255$49
37 years$1,464$960$611$379$231$42
38 years$1,410$912$572$350$210$36
39 years$1,358$867$536$322$190$31
40 years$1,310$825$502$297$173$27
41 years$1,264$785$471$274$157$23
42 years$1,220$748$442$253$142$20
43 years$1,178$713$414$234$129$17
44 years$1,138$679$389$216$117$14
45 years$1,100$648$365$199$106$12
46 years$1,064$618$343$184$96$11
47 years$1,030$590$322$170$88$9
48 years$997$563$303$157$80$8
49 years$965$538$285$145$72$7
50 years$935$514$268$134$66$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $958,000, adding $4,642 every year, while hoping to spend $33,572 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: 42/32/26 Blend
54$958,000$958,000$958,000$958,000
55$1,060,504$1,009,730$994,881$1,096,803
56$1,132,955$1,023,487$992,489$1,137,034
57$1,211,671$1,036,792$988,892$1,177,043
58$1,297,255$1,049,589$984,014$1,219,717
59$1,390,372$1,061,815$977,775$1,265,324
60$1,491,752$1,073,406$970,092$1,314,155
61$1,602,198$1,084,291$960,878$1,366,538
62$1,722,597$1,094,395$950,042$1,422,831
63$1,853,920$1,103,639$937,487$1,483,434
64$1,997,241$1,111,938$923,113$1,548,786
65$2,153,738$1,119,201$906,816$1,619,375
66$2,324,710$1,125,333$888,486$1,695,740
67$2,511,588$1,130,231$868,007$1,778,479
68$2,715,944$1,133,787$845,259$1,868,251
69$2,939,512$1,135,884$820,117$1,965,785
70$3,184,199$1,136,400$792,448$2,071,888
71$3,452,109$1,135,204$762,116$2,187,452
72$3,745,553$1,132,158$728,976$2,313,462
73$4,067,080$1,127,115$692,878$2,451,009
74$4,419,497$1,119,918$653,664$2,601,297
75$4,805,893$1,110,402$611,169$2,765,656
76$5,229,674$1,098,392$565,223$2,945,557
77$5,694,589$1,083,701$515,646$3,142,625
78$6,204,766$1,066,131$462,249$3,358,655
79$6,764,755$1,045,475$404,838$3,595,629
80$7,379,567$1,021,510$343,207$3,855,738
81$8,054,722$994,003$277,143$4,141,400
82$8,796,299$962,704$206,423$4,455,286
83$9,610,996$927,352$130,813$4,800,346
84$10,506,193$887,668$50,071$5,179,836
85$11,490,019$843,358$0$5,597,353
86$12,571,430$794,110$0$6,066,879
87$13,760,291$739,597$0$6,598,258
88$15,067,473$679,470$0$7,182,497
89$16,504,952$613,360$0$7,825,017
90$18,085,922$540,881$0$8,531,792
91$19,824,922$461,620$0$9,309,414
92$21,737,968$375,143$0$10,165,149
93$23,842,709$280,993$0$11,107,010
94$26,158,588$178,684$0$12,143,835
95$28,707,031$67,706$0$13,285,366
96$31,511,643$0$0$14,542,348
97$34,598,435$0$0$15,945,108
98$37,996,066$0$0$17,515,512
99$41,736,117$0$0$19,244,334
100$45,853,384$0$0$21,147,676