Can I retire at age 55 with 971,000?

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 $971,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$80,184$79,470$78,773$78,093$77,429$76,812
2 years$39,695$38,956$38,239$37,545$36,871$36,249
3 years$26,201$25,458$24,743$24,055$23,392$22,785
4 years$19,455$18,714$18,007$17,330$16,684$16,095
5 years$15,408$14,672$13,974$13,311$12,683$12,115
6 years$12,711$11,981$11,293$10,645$10,035$9,489
7 years$10,786$10,062$9,385$8,752$8,161$7,637
8 years$9,342$8,625$7,959$7,342$6,771$6,268
9 years$8,220$7,509$6,855$6,254$5,702$5,221
10 years$7,323$6,619$5,976$5,391$4,858$4,398
11 years$6,589$5,893$5,261$4,692$4,178$3,739
12 years$5,979$5,289$4,669$4,115$3,621$3,202
13 years$5,462$4,780$4,172$3,633$3,157$2,759
14 years$5,020$4,345$3,748$3,225$2,768$2,389
15 years$4,637$3,969$3,384$2,876$2,437$2,077
16 years$4,302$3,641$3,068$2,575$2,154$1,812
17 years$4,007$3,354$2,792$2,314$1,910$1,586
18 years$3,745$3,099$2,549$2,085$1,698$1,392
19 years$3,511$2,872$2,333$1,884$1,513$1,224
20 years$3,300$2,669$2,141$1,707$1,352$1,078
21 years$3,110$2,486$1,970$1,549$1,210$952
22 years$2,937$2,320$1,815$1,408$1,084$841
23 years$2,780$2,170$1,676$1,282$973$745
24 years$2,636$2,033$1,550$1,170$875$660
25 years$2,503$1,908$1,436$1,068$787$585
26 years$2,381$1,793$1,332$977$709$519
27 years$2,269$1,688$1,237$894$639$461
28 years$2,164$1,590$1,150$819$577$410
29 years$2,067$1,500$1,070$751$521$365
30 years$1,977$1,417$996$689$471$325
31 years$1,892$1,339$929$633$426$289
32 years$1,813$1,267$867$582$385$257
33 years$1,739$1,200$809$535$348$229
34 years$1,669$1,138$756$492$315$204
35 years$1,604$1,079$707$453$286$182
36 years$1,542$1,024$661$417$259$162
37 years$1,484$973$619$385$235$145
38 years$1,429$924$580$354$213$129
39 years$1,377$879$543$327$193$115
40 years$1,328$836$509$301$175$103
41 years$1,281$796$477$278$159$92
42 years$1,236$758$448$257$144$82
43 years$1,194$722$420$237$131$73
44 years$1,154$689$394$219$119$65
45 years$1,115$657$370$202$108$58
46 years$1,079$626$348$187$98$52
47 years$1,044$598$327$172$89$47
48 years$1,010$571$307$159$81$42
49 years$979$545$289$147$73$37
50 years$948$521$271$136$67$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $971,000, adding $3,302 every year, while hoping to spend $58,811 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: 43/36/21 Blend
54$971,000$971,000$971,000$971,000
55$1,073,448$1,021,985$1,006,935$1,112,913
56$1,120,365$1,009,488$978,092$1,128,688
57$1,170,097$994,407$946,313$1,139,797
58$1,222,868$976,554$911,436$1,150,631
59$1,278,925$955,730$873,293$1,161,195
60$1,338,536$931,721$831,709$1,171,499
61$1,401,996$904,305$786,500$1,181,557
62$1,469,627$873,243$737,476$1,191,393
63$1,541,782$838,286$684,435$1,201,034
64$1,618,848$799,166$627,167$1,210,518
65$1,701,249$755,603$565,456$1,219,893
66$1,789,449$707,300$499,071$1,229,217
67$1,883,957$653,943$427,774$1,238,561
68$1,985,333$595,198$351,317$1,248,011
69$2,094,189$530,715$269,438$1,257,667
70$2,211,199$460,122$181,867$1,267,651
71$2,337,101$383,028$88,319$1,278,103
72$2,472,706$299,017$0$1,289,185
73$2,618,906$207,652$0$1,303,669
74$2,776,678$108,471$0$1,340,480
75$2,947,098$985$0$1,380,133
76$3,131,348$0$0$1,422,992
77$3,330,726$0$0$1,515,151
78$3,546,660$0$0$1,615,484
79$3,780,720$0$0$1,724,344
80$4,034,632$0$0$1,842,546
81$4,310,293$0$0$1,970,988
82$4,609,791$0$0$2,110,657
83$4,935,424$0$0$2,262,638
84$5,289,717$0$0$2,428,128
85$5,675,451$0$0$2,608,440
86$6,095,685$0$0$2,805,023
87$6,553,785$0$0$3,019,468
88$7,053,455$0$0$3,253,530
89$7,598,774$0$0$3,509,137
90$8,194,231$0$0$3,788,414
91$8,844,766$0$0$4,093,699
92$9,555,820$0$0$4,427,569
93$10,333,380$0$0$4,792,856
94$11,184,043$0$0$5,192,684
95$12,115,068$0$0$5,630,489
96$13,134,450$0$0$6,110,058
97$14,250,994$0$0$6,635,557
98$15,474,395$0$0$7,211,580
99$16,815,333$0$0$7,843,181
100$18,285,566$0$0$8,535,930