Can I retire at age 55 with 976,000?

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 $976,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$80,597$79,879$79,179$78,495$77,828$75,276
2 years$39,900$39,156$38,436$37,738$37,061$34,514
3 years$26,336$25,589$24,871$24,179$23,513$21,052
4 years$19,555$18,811$18,100$17,420$16,770$14,412
5 years$15,487$14,748$14,046$13,380$12,748$10,501
6 years$12,777$12,043$11,351$10,700$10,087$7,952
7 years$10,841$10,113$9,433$8,797$8,203$6,181
8 years$9,390$8,669$8,000$7,380$6,806$4,893
9 years$8,262$7,548$6,890$6,286$5,731$3,927
10 years$7,361$6,653$6,007$5,418$4,883$3,185
11 years$6,623$5,923$5,289$4,716$4,200$2,603
12 years$6,009$5,316$4,693$4,136$3,639$2,142
13 years$5,490$4,804$4,193$3,652$3,174$1,771
14 years$5,046$4,367$3,768$3,242$2,782$1,470
15 years$4,661$3,989$3,402$2,891$2,450$1,225
16 years$4,324$3,660$3,084$2,589$2,165$1,023
17 years$4,027$3,371$2,806$2,326$1,920$856
18 years$3,764$3,115$2,562$2,096$1,707$718
19 years$3,529$2,887$2,345$1,894$1,521$603
20 years$3,317$2,682$2,152$1,715$1,359$507
21 years$3,126$2,499$1,980$1,557$1,216$427
22 years$2,952$2,332$1,825$1,415$1,090$360
23 years$2,794$2,181$1,685$1,289$978$303
24 years$2,649$2,044$1,558$1,176$879$256
25 years$2,516$1,918$1,443$1,074$791$216
26 years$2,394$1,803$1,338$982$713$183
27 years$2,280$1,697$1,243$899$643$154
28 years$2,175$1,599$1,155$823$580$130
29 years$2,078$1,508$1,075$755$524$110
30 years$1,987$1,424$1,002$693$473$93
31 years$1,902$1,346$934$636$428$79
32 years$1,822$1,274$871$585$387$67
33 years$1,748$1,206$813$538$350$56
34 years$1,678$1,143$760$495$317$48
35 years$1,612$1,085$711$456$287$40
36 years$1,550$1,029$665$420$260$34
37 years$1,492$978$622$387$236$29
38 years$1,436$929$583$356$214$25
39 years$1,384$884$546$329$194$21
40 years$1,334$841$512$303$176$18
41 years$1,287$800$480$280$160$15
42 years$1,243$762$450$258$145$13
43 years$1,200$726$422$238$131$11
44 years$1,160$692$396$220$119$9
45 years$1,121$660$372$203$108$8
46 years$1,084$630$350$188$98$6
47 years$1,049$601$328$173$89$5
48 years$1,016$574$309$160$81$5
49 years$984$548$290$148$74$4
50 years$953$523$273$137$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $976,000, adding $2,386 every year, while hoping to spend $59,970 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: 68/5/27 Blend
54$976,000$976,000$976,000$976,000
55$1,078,013$1,026,285$1,011,157$1,143,608
56$1,124,163$1,012,766$981,223$1,174,487
57$1,173,010$996,573$948,277$1,201,211
58$1,224,766$977,515$912,153$1,229,083
59$1,279,663$955,384$872,681$1,258,218
60$1,337,953$929,962$829,680$1,288,744
61$1,399,914$901,020$782,964$1,320,805
62$1,465,847$868,312$732,336$1,354,559
63$1,536,085$831,580$677,590$1,390,185
64$1,610,989$790,552$618,513$1,427,880
65$1,690,958$744,937$554,881$1,467,866
66$1,776,427$694,429$486,461$1,510,386
67$1,867,872$638,706$413,007$1,555,713
68$1,965,818$577,426$334,266$1,604,152
69$2,070,839$510,227$249,971$1,656,039
70$2,183,563$436,726$159,843$1,711,749
71$2,304,682$356,522$63,594$1,771,697
72$2,434,955$269,187$0$1,836,346
73$2,575,215$174,271$0$1,917,478
74$2,726,376$71,299$0$2,024,676
75$2,889,442$0$0$2,140,326
76$3,065,518$0$0$2,267,439
77$3,255,816$0$0$2,409,104
78$3,461,670$0$0$2,562,396
79$3,684,544$0$0$2,728,413
80$3,926,050$0$0$2,908,359
81$4,187,958$0$0$3,103,562
82$4,472,216$0$0$3,315,480
83$4,780,967$0$0$3,545,717
84$5,116,567$0$0$3,796,039
85$5,481,609$0$0$4,068,386
86$5,878,944$0$0$4,364,894
87$6,311,710$0$0$4,687,915
88$6,783,362$0$0$5,040,035
89$7,297,700$0$0$5,424,100
90$7,858,907$0$0$5,843,244
91$8,471,588$0$0$6,300,917
92$9,140,811$0$0$6,800,914
93$9,872,157$0$0$7,347,416
94$10,671,767$0$0$7,945,025
95$11,546,406$0$0$8,598,808
96$12,503,521$0$0$9,314,343
97$13,551,312$0$0$10,097,774
98$14,698,810$0$0$10,955,866
99$15,955,958$0$0$11,896,069
100$17,333,708$0$0$12,926,588