Can I retire at age 55 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$79,441$78,733$78,043$77,369$76,711$76,196
2 years$39,327$38,595$37,885$37,197$36,529$36,009
3 years$25,958$25,222$24,514$23,832$23,176$22,668
4 years$19,274$18,541$17,840$17,170$16,529$16,037
5 years$15,265$14,536$13,845$13,188$12,565$12,090
6 years$12,593$11,870$11,188$10,547$9,942$9,485
7 years$10,686$9,968$9,298$8,671$8,086$7,646
8 years$9,256$8,545$7,885$7,274$6,708$6,286
9 years$8,144$7,440$6,791$6,196$5,649$5,245
10 years$7,255$6,558$5,921$5,341$4,813$4,427
11 years$6,528$5,838$5,213$4,648$4,140$3,770
12 years$5,923$5,240$4,626$4,077$3,587$3,235
13 years$5,411$4,735$4,133$3,599$3,128$2,792
14 years$4,973$4,304$3,714$3,195$2,742$2,423
15 years$4,594$3,932$3,353$2,849$2,414$2,111
16 years$4,262$3,608$3,040$2,551$2,134$1,846
17 years$3,970$3,322$2,766$2,292$1,892$1,619
18 years$3,710$3,070$2,525$2,066$1,682$1,423
19 years$3,478$2,845$2,312$1,867$1,499$1,254
20 years$3,270$2,644$2,122$1,691$1,339$1,108
21 years$3,081$2,463$1,951$1,534$1,199$980
22 years$2,910$2,299$1,799$1,395$1,074$868
23 years$2,754$2,150$1,661$1,271$964$770
24 years$2,611$2,015$1,536$1,159$867$684
25 years$2,480$1,891$1,422$1,058$780$608
26 years$2,359$1,777$1,319$968$703$541
27 years$2,248$1,672$1,225$886$633$481
28 years$2,144$1,576$1,139$812$572$429
29 years$2,048$1,486$1,060$744$516$382
30 years$1,958$1,404$987$683$466$341
31 years$1,875$1,327$920$627$422$304
32 years$1,796$1,256$859$576$381$272
33 years$1,723$1,189$802$530$345$243
34 years$1,654$1,127$749$488$312$217
35 years$1,589$1,069$700$449$283$194
36 years$1,528$1,015$655$414$256$173
37 years$1,470$964$613$381$232$155
38 years$1,416$916$574$351$211$139
39 years$1,364$871$538$324$191$124
40 years$1,315$829$504$299$173$111
41 years$1,269$789$473$276$157$99
42 years$1,225$751$444$254$143$89
43 years$1,183$716$416$235$129$80
44 years$1,143$682$391$217$118$71
45 years$1,105$651$367$200$107$64
46 years$1,069$621$345$185$97$57
47 years$1,034$592$324$171$88$51
48 years$1,001$565$304$158$80$46
49 years$969$540$286$146$73$41
50 years$939$516$269$135$66$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $962,000, adding $2,100 every year, while hoping to spend $45,780 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: 65/15/20 Blend
54$962,000$962,000$962,000$962,000
55$1,062,290$1,011,304$996,393$1,125,828
56$1,121,934$1,012,148$981,063$1,169,603
57$1,186,128$1,011,500$963,684$1,212,013
58$1,255,286$1,009,237$944,141$1,257,283
59$1,329,866$1,005,230$922,311$1,305,693
60$1,410,369$999,343$898,065$1,357,555
61$1,497,347$991,431$871,270$1,413,213
62$1,591,404$981,339$841,786$1,473,048
63$1,693,208$968,905$809,466$1,537,481
64$1,803,488$953,955$774,157$1,606,978
65$1,923,051$936,306$735,698$1,682,052
66$2,052,781$915,764$693,923$1,763,274
67$2,193,652$892,123$648,656$1,851,270
68$2,346,733$865,165$599,714$1,946,738
69$2,513,201$834,661$546,907$2,050,443
70$2,694,354$800,365$490,034$2,163,235
71$2,891,615$762,020$428,887$2,286,051
72$3,106,554$719,353$363,249$2,419,927
73$3,340,897$672,075$292,892$2,566,007
74$3,596,543$619,881$217,578$2,725,555
75$3,875,583$562,448$137,060$2,899,967
76$4,180,319$499,435$51,079$3,090,784
77$4,513,286$430,482$0$3,299,710
78$4,877,272$355,206$0$3,537,305
79$5,275,349$273,207$0$3,809,162
80$5,710,899$184,058$0$4,106,723
81$6,187,645$87,311$0$4,432,585
82$6,709,687$0$0$4,789,609
83$7,281,541$0$0$5,183,842
84$7,908,180$0$0$5,631,697
85$8,595,079$0$0$6,122,686
86$9,348,270$0$0$6,661,127
87$10,174,396$0$0$7,251,777
88$11,080,774$0$0$7,899,877
89$12,075,463$0$0$8,611,199
90$13,167,341$0$0$9,392,099
91$14,366,185$0$0$10,249,582
92$15,682,769$0$0$11,191,362
93$17,128,959$0$0$12,225,938
94$18,717,825$0$0$13,362,672
95$20,463,771$0$0$14,611,878
96$22,382,659$0$0$15,984,919
97$24,491,969$0$0$17,494,313
98$26,810,957$0$0$19,153,851
99$29,360,836$0$0$20,978,728
100$32,164,981$0$0$22,985,686