Can I retire at age 55 with 968,000?

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 $968,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$79,937$79,225$78,530$77,852$77,190$74,809
2 years$39,573$38,836$38,121$37,429$36,757$34,379
3 years$26,120$25,379$24,667$23,981$23,320$21,020
4 years$19,395$18,657$17,951$17,277$16,632$14,427
5 years$15,360$14,627$13,931$13,270$12,643$10,539
6 years$12,672$11,944$11,258$10,612$10,004$8,003
7 years$10,752$10,031$9,356$8,725$8,136$6,238
8 years$9,313$8,598$7,934$7,319$6,750$4,953
9 years$8,195$7,486$6,834$6,234$5,684$3,987
10 years$7,300$6,599$5,958$5,374$4,843$3,244
11 years$6,569$5,874$5,245$4,677$4,165$2,660
12 years$5,960$5,273$4,655$4,102$3,610$2,196
13 years$5,445$4,765$4,159$3,622$3,148$1,822
14 years$5,004$4,331$3,737$3,215$2,759$1,518
15 years$4,622$3,957$3,374$2,867$2,429$1,269
16 years$4,289$3,630$3,059$2,567$2,147$1,063
17 years$3,994$3,343$2,783$2,307$1,904$893
18 years$3,733$3,089$2,541$2,079$1,693$752
19 years$3,500$2,863$2,326$1,878$1,509$634
20 years$3,290$2,660$2,135$1,701$1,348$535
21 years$3,100$2,478$1,964$1,544$1,206$452
22 years$2,928$2,313$1,810$1,404$1,081$383
23 years$2,771$2,164$1,671$1,278$970$324
24 years$2,628$2,027$1,545$1,166$872$275
25 years$2,496$1,902$1,431$1,065$785$233
26 years$2,374$1,788$1,327$974$707$197
27 years$2,262$1,683$1,233$891$637$167
28 years$2,157$1,586$1,146$817$575$142
29 years$2,061$1,496$1,066$749$519$121
30 years$1,970$1,413$993$687$469$102
31 years$1,886$1,335$926$631$424$87
32 years$1,807$1,264$864$580$384$74
33 years$1,734$1,197$807$533$347$63
34 years$1,664$1,134$754$491$314$53
35 years$1,599$1,076$705$452$285$45
36 years$1,537$1,021$659$416$258$39
37 years$1,479$970$617$383$234$33
38 years$1,425$922$578$353$212$28
39 years$1,373$876$541$326$192$24
40 years$1,323$834$507$301$174$20
41 years$1,277$794$476$277$158$17
42 years$1,232$756$446$256$144$15
43 years$1,190$720$419$236$130$12
44 years$1,150$686$393$218$118$11
45 years$1,112$655$369$201$107$9
46 years$1,075$624$347$186$97$8
47 years$1,041$596$326$172$89$6
48 years$1,007$569$306$159$80$5
49 years$976$543$288$147$73$5
50 years$945$519$270$136$66$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $968,000, adding $3,168 every year, while hoping to spend $54,093 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: 30/43/27 Blend
54$968,000$968,000$968,000$968,000
55$1,070,004$1,018,700$1,003,696$1,093,126
56$1,121,590$1,011,062$979,765$1,103,750
57$1,176,624$1,001,236$953,220$1,110,215
58$1,235,402$989,059$923,915$1,116,091
59$1,298,247$974,356$891,700$1,121,363
60$1,365,512$956,944$856,415$1,126,021
61$1,437,585$936,625$817,896$1,130,060
62$1,514,893$913,194$775,970$1,133,478
63$1,597,903$886,431$730,456$1,136,281
64$1,687,127$856,104$681,164$1,138,481
65$1,783,128$821,967$627,897$1,140,098
66$1,886,525$783,761$570,449$1,141,162
67$1,997,996$741,211$508,605$1,141,714
68$2,118,287$694,026$442,138$1,141,806
69$2,248,217$641,898$370,815$1,141,505
70$2,388,687$584,503$294,389$1,140,894
71$2,540,686$521,497$212,604$1,140,073
72$2,705,302$452,516$125,193$1,139,163
73$2,883,731$377,178$31,875$1,138,310
74$3,077,288$295,076$0$1,137,684
75$3,287,420$205,783$0$1,156,992
76$3,515,717$108,847$0$1,188,028
77$3,763,929$3,789$0$1,221,963
78$4,033,982$0$0$1,259,204
79$4,327,993$0$0$1,352,210
80$4,648,293$0$0$1,455,625
81$4,997,448$0$0$1,568,500
82$5,378,280$0$0$1,691,768
83$5,793,896$0$0$1,826,453
84$6,247,716$0$0$1,973,682
85$6,743,506$0$0$2,134,698
86$7,285,409$0$0$2,310,868
87$7,877,990$0$0$2,503,698
88$8,526,272$0$0$2,714,846
89$9,235,788$0$0$2,946,138
90$10,012,630$0$0$3,199,585
91$10,863,505$0$0$3,477,400
92$11,795,802$0$0$3,782,024
93$12,817,655$0$0$4,116,142
94$13,938,026$0$0$4,482,714
95$15,166,784$0$0$4,884,997
96$16,514,798$0$0$5,326,583
97$17,994,041$0$0$5,811,425
98$19,617,701$0$0$6,343,878
99$21,400,304$0$0$6,928,742
100$23,357,854$0$0$7,571,303