Can I retire at age 55 with 898,000?

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 $898,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$74,156$73,495$72,851$72,222$71,608$71,276
2 years$36,711$36,027$35,365$34,722$34,099$33,764
3 years$24,231$23,544$22,883$22,247$21,634$21,306
4 years$17,992$17,307$16,653$16,028$15,429$15,112
5 years$14,250$13,569$12,924$12,311$11,729$11,422
6 years$11,756$11,080$10,444$9,845$9,281$8,985
7 years$9,975$9,305$8,679$8,094$7,548$7,263
8 years$8,640$7,976$7,361$6,790$6,262$5,988
9 years$7,602$6,945$6,340$5,784$5,273$5,011
10 years$6,772$6,122$5,527$4,985$4,493$4,242
11 years$6,094$5,450$4,866$4,339$3,864$3,624
12 years$5,529$4,891$4,318$3,806$3,349$3,119
13 years$5,051$4,420$3,858$3,360$2,920$2,701
14 years$4,642$4,018$3,467$2,983$2,560$2,351
15 years$4,288$3,670$3,130$2,660$2,254$2,055
16 years$3,978$3,368$2,838$2,382$1,992$1,803
17 years$3,706$3,101$2,582$2,140$1,766$1,587
18 years$3,463$2,866$2,357$1,928$1,570$1,400
19 years$3,247$2,656$2,158$1,743$1,400$1,238
20 years$3,052$2,468$1,980$1,578$1,250$1,097
21 years$2,876$2,299$1,822$1,432$1,119$974
22 years$2,716$2,146$1,679$1,302$1,003$866
23 years$2,571$2,007$1,550$1,186$900$771
24 years$2,438$1,881$1,434$1,082$809$688
25 years$2,315$1,765$1,328$988$728$614
26 years$2,202$1,659$1,231$903$656$548
27 years$2,098$1,561$1,144$827$591$490
28 years$2,001$1,471$1,063$758$534$438
29 years$1,912$1,388$989$695$482$392
30 years$1,828$1,310$921$638$435$351
31 years$1,750$1,239$859$586$394$315
32 years$1,677$1,172$802$538$356$282
33 years$1,608$1,110$748$495$322$253
34 years$1,544$1,052$699$455$292$227
35 years$1,483$998$654$419$264$204
36 years$1,426$947$612$386$239$183
37 years$1,372$900$572$356$217$164
38 years$1,322$855$536$328$197$148
39 years$1,273$813$502$302$178$133
40 years$1,228$773$471$279$162$119
41 years$1,184$736$441$257$147$107
42 years$1,143$701$414$237$133$96
43 years$1,104$668$389$219$121$87
44 years$1,067$637$365$202$110$78
45 years$1,031$607$342$187$100$70
46 years$998$579$322$173$90$63
47 years$965$553$302$159$82$57
48 years$935$528$284$147$75$51
49 years$905$504$267$136$68$46
50 years$877$481$251$126$62$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $898,000, adding $6,009 every year, while hoping to spend $41,156 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: 48/30/22 Blend
54$898,000$898,000$898,000$898,000
55$995,794$948,200$934,281$1,037,121
56$1,053,576$950,872$921,790$1,069,237
57$1,115,871$952,296$907,501$1,099,486
58$1,183,098$952,367$891,310$1,131,488
59$1,255,715$950,973$873,110$1,165,427
60$1,334,224$947,998$852,786$1,201,505
61$1,419,180$943,314$830,219$1,239,950
62$1,511,191$936,791$805,286$1,281,012
63$1,610,925$928,287$777,855$1,324,972
64$1,719,119$917,652$747,793$1,372,142
65$1,836,580$904,728$714,955$1,422,866
66$1,964,199$889,347$679,194$1,477,530
67$2,102,954$871,332$640,353$1,536,559
68$2,253,922$850,494$598,272$1,600,427
69$2,418,287$826,633$552,779$1,669,659
70$2,597,353$799,539$503,698$1,744,838
71$2,792,555$768,988$450,843$1,826,611
72$3,005,470$734,744$394,022$1,915,695
73$3,237,838$696,556$333,031$2,012,884
74$3,491,570$654,159$267,660$2,119,058
75$3,768,772$607,275$197,688$2,235,194
76$4,071,762$555,607$122,886$2,362,373
77$4,403,092$498,842$43,013$2,501,791
78$4,765,572$436,650$0$2,654,774
79$5,162,296$368,681$0$2,832,701
80$5,596,671$294,568$0$3,038,704
81$6,072,448$213,918$0$3,264,537
82$6,593,760$126,322$0$3,512,255
83$7,165,156$31,345$0$3,784,129
84$7,791,648$0$0$4,082,662
85$8,478,754$0$0$4,434,218
86$9,232,555$0$0$4,831,352
87$10,059,746$0$0$5,267,255
88$10,967,703$0$0$5,745,829
89$11,964,550$0$0$6,271,368
90$13,059,237$0$0$6,848,605
91$14,261,622$0$0$7,482,754
92$15,582,567$0$0$8,179,557
93$17,034,035$0$0$8,945,341
94$18,629,207$0$0$9,787,077
95$20,382,605$0$0$10,712,443
96$22,310,225$0$0$11,729,899
97$24,429,694$0$0$12,848,766
98$26,760,429$0$0$14,079,315
99$29,323,824$0$0$15,432,858
100$32,143,451$0$0$16,921,862