Can I retire at age 55 with 970,000?

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 $970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$80,102$79,388$78,692$78,013$77,349$76,605
2 years$39,654$38,916$38,200$37,506$36,833$36,083
3 years$26,174$25,432$24,718$24,030$23,368$22,637
4 years$19,435$18,695$17,988$17,313$16,666$15,958
5 years$15,392$14,657$13,960$13,298$12,670$11,987
6 years$12,698$11,969$11,282$10,634$10,025$9,368
7 years$10,775$10,051$9,375$8,743$8,153$7,523
8 years$9,333$8,616$7,951$7,334$6,764$6,160
9 years$8,212$7,502$6,848$6,247$5,696$5,119
10 years$7,315$6,612$5,970$5,385$4,853$4,302
11 years$6,583$5,887$5,256$4,687$4,174$3,649
12 years$5,972$5,283$4,665$4,111$3,617$3,117
13 years$5,456$4,775$4,168$3,629$3,154$2,678
14 years$5,015$4,340$3,745$3,222$2,765$2,313
15 years$4,632$3,965$3,381$2,873$2,434$2,006
16 years$4,297$3,638$3,065$2,573$2,152$1,745
17 years$4,003$3,350$2,789$2,311$1,908$1,523
18 years$3,741$3,096$2,546$2,083$1,696$1,333
19 years$3,507$2,869$2,331$1,882$1,512$1,169
20 years$3,297$2,666$2,139$1,705$1,350$1,027
21 years$3,107$2,483$1,968$1,547$1,209$904
22 years$2,934$2,318$1,814$1,407$1,083$796
23 years$2,777$2,168$1,674$1,281$972$703
24 years$2,633$2,031$1,549$1,168$874$621
25 years$2,501$1,906$1,434$1,067$786$549
26 years$2,379$1,792$1,330$976$708$485
27 years$2,266$1,686$1,235$893$639$430
28 years$2,162$1,589$1,148$818$576$381
29 years$2,065$1,499$1,069$750$520$338
30 years$1,975$1,415$995$689$470$299
31 years$1,890$1,338$928$632$425$266
32 years$1,811$1,266$866$581$385$236
33 years$1,737$1,199$808$535$348$209
34 years$1,668$1,136$755$492$315$186
35 years$1,602$1,078$706$453$285$165
36 years$1,541$1,023$661$417$259$147
37 years$1,482$972$618$384$234$131
38 years$1,427$923$579$354$212$116
39 years$1,375$878$542$326$193$103
40 years$1,326$835$508$301$175$92
41 years$1,279$795$477$278$159$82
42 years$1,235$757$447$256$144$73
43 years$1,193$722$420$237$131$65
44 years$1,152$688$394$219$119$58
45 years$1,114$656$370$202$108$51
46 years$1,078$626$347$186$98$46
47 years$1,043$597$326$172$89$41
48 years$1,009$570$307$159$81$36
49 years$978$544$288$147$73$32
50 years$947$520$271$136$66$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $970,000, adding $3,222 every year, while hoping to spend $46,307 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: 68/20/12 Blend
54$970,000$970,000$970,000$970,000
55$1,072,263$1,020,853$1,005,818$1,142,152
56$1,132,364$1,021,605$990,243$1,189,789
57$1,197,043$1,020,841$972,594$1,236,037
58$1,266,718$1,018,439$952,753$1,285,417
59$1,341,849$1,014,268$930,595$1,338,232
60$1,422,939$1,008,190$905,992$1,394,813
61$1,510,544$1,000,056$878,808$1,455,529
62$1,605,273$989,712$848,901$1,520,786
63$1,707,794$976,991$816,123$1,591,033
64$1,818,844$961,718$780,318$1,666,765
65$1,939,232$943,708$741,324$1,748,530
66$2,069,848$922,764$698,973$1,836,932
67$2,211,670$898,678$653,086$1,932,640
68$2,365,775$871,228$603,480$2,036,391
69$2,533,347$840,181$549,959$2,148,998
70$2,715,689$805,290$492,323$2,271,363
71$2,914,234$766,294$430,360$2,404,478
72$3,130,559$722,915$363,851$2,549,439
73$3,366,400$674,862$292,564$2,707,459
74$3,623,667$621,825$216,259$2,879,873
75$3,904,463$563,476$134,686$3,068,157
76$4,211,103$499,471$47,582$3,273,943
77$4,546,134$429,443$0$3,499,027
78$4,912,361$353,008$0$3,751,207
79$5,312,873$269,756$0$4,033,743
80$5,751,069$179,258$0$4,342,994
81$6,230,695$81,058$0$4,681,671
82$6,755,873$0$0$5,052,761
83$7,331,143$0$0$5,465,135
84$7,961,504$0$0$5,936,604
85$8,652,464$0$0$6,453,454
86$9,410,087$0$0$7,020,230
87$10,241,051$0$0$7,641,936
88$11,152,716$0$0$8,324,083
89$12,153,182$0$0$9,072,743
90$13,251,378$0$0$9,894,605
91$14,457,134$0$0$10,797,034
92$15,781,282$0$0$11,788,145
93$17,235,753$0$0$12,876,880
94$18,833,691$0$0$14,073,085
95$20,589,575$0$0$15,387,610
96$22,519,357$0$0$16,832,408
97$24,640,610$0$0$18,420,645
98$26,972,696$0$0$20,166,830
99$29,536,946$0$0$22,086,945
100$32,356,859$0$0$24,198,599