Can I retire at age 55 with 889,000?

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 $889,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$73,413$72,759$72,121$71,498$70,890$69,092
2 years$36,343$35,666$35,010$34,374$33,757$31,958
3 years$23,988$23,308$22,654$22,024$21,417$19,672
4 years$17,812$17,134$16,486$15,867$15,275$13,598
5 years$14,107$13,433$12,794$12,187$11,612$10,007
6 years$11,638$10,969$10,339$9,746$9,188$7,657
7 years$9,875$9,212$8,592$8,013$7,472$6,016
8 years$8,553$7,896$7,287$6,722$6,199$4,816
9 years$7,526$6,875$6,276$5,726$5,220$3,910
10 years$6,705$6,060$5,472$4,935$4,448$3,209
11 years$6,033$5,395$4,817$4,295$3,825$2,655
12 years$5,474$4,842$4,275$3,768$3,315$2,212
13 years$5,001$4,376$3,820$3,326$2,891$1,853
14 years$4,596$3,978$3,432$2,953$2,534$1,558
15 years$4,245$3,634$3,099$2,633$2,231$1,316
16 years$3,939$3,334$2,809$2,358$1,972$1,114
17 years$3,668$3,070$2,556$2,118$1,748$945
18 years$3,429$2,837$2,334$1,909$1,555$804
19 years$3,214$2,629$2,136$1,725$1,386$685
20 years$3,021$2,443$1,961$1,562$1,238$585
21 years$2,847$2,276$1,803$1,418$1,108$500
22 years$2,689$2,124$1,662$1,289$993$427
23 years$2,545$1,987$1,535$1,174$891$366
24 years$2,413$1,862$1,419$1,071$801$313
25 years$2,292$1,747$1,315$978$721$269
26 years$2,180$1,642$1,219$894$649$230
27 years$2,077$1,545$1,132$819$585$198
28 years$1,981$1,456$1,052$750$528$170
29 years$1,892$1,374$979$688$477$146
30 years$1,810$1,297$912$631$431$125
31 years$1,732$1,226$850$580$390$108
32 years$1,660$1,160$793$533$352$92
33 years$1,592$1,099$741$490$319$79
34 years$1,528$1,042$692$451$289$68
35 years$1,468$988$647$415$262$59
36 years$1,412$938$605$382$237$51
37 years$1,359$891$567$352$215$43
38 years$1,308$846$531$325$195$37
39 years$1,261$805$497$299$177$32
40 years$1,215$766$466$276$160$28
41 years$1,173$729$437$255$145$24
42 years$1,132$694$410$235$132$20
43 years$1,093$661$385$217$120$18
44 years$1,056$630$361$200$109$15
45 years$1,021$601$339$185$99$13
46 years$988$573$318$171$90$11
47 years$956$547$299$158$81$10
48 years$925$522$281$146$74$8
49 years$896$499$264$135$67$7
50 years$868$477$248$125$61$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $889,000, adding $6,591 every year, while hoping to spend $50,767 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: 72/5/23 Blend
54$889,000$889,000$889,000$889,000
55$986,477$939,360$925,580$1,051,426
56$1,033,082$931,373$902,571$1,087,600
57$1,082,739$921,293$877,090$1,120,556
58$1,135,706$908,964$849,001$1,155,406
59$1,192,265$894,220$818,159$1,192,329
60$1,252,726$876,887$784,418$1,231,528
61$1,317,428$856,778$747,619$1,273,224
62$1,386,742$833,697$707,601$1,317,664
63$1,461,077$807,436$664,193$1,365,120
64$1,540,880$777,773$617,217$1,415,893
65$1,626,643$744,477$566,487$1,470,317
66$1,718,904$707,299$511,807$1,528,761
67$1,818,255$665,980$452,976$1,591,633
68$1,925,347$620,243$389,780$1,659,383
69$2,040,893$569,796$321,999$1,732,511
70$2,165,679$514,331$249,401$1,811,568
71$2,300,567$453,521$171,744$1,897,163
72$2,446,503$387,022$88,776$1,989,972
73$2,604,531$314,471$234$2,090,739
74$2,775,794$235,481$0$2,200,287
75$2,961,553$149,647$0$2,342,657
76$3,163,192$56,540$0$2,497,289
77$3,382,234$0$0$2,665,310
78$3,620,355$0$0$2,850,460
79$3,879,398$0$0$3,055,300
80$4,161,391$0$0$3,278,327
81$4,468,565$0$0$3,521,312
82$4,803,377$0$0$3,786,202
83$5,168,529$0$0$4,075,140
84$5,566,995$0$0$4,390,488
85$6,002,050$0$0$4,734,840
86$6,477,298$0$0$5,111,057
87$6,996,708$0$0$5,522,286
88$7,564,646$0$0$5,971,992
89$8,185,924$0$0$6,463,991
90$8,865,838$0$0$7,002,483
91$9,610,219$0$0$7,592,096
92$10,425,488$0$0$8,237,922
93$11,318,718$0$0$8,945,574
94$12,297,698$0$0$9,721,228
95$13,371,004$0$0$10,571,690
96$14,548,084$0$0$11,504,454
97$15,839,344$0$0$12,527,776
98$17,256,243$0$0$13,650,747
99$18,811,407$0$0$14,883,383
100$20,518,740$0$0$16,236,716