Can I retire at age 55 with 977,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $977,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$80,680$79,961$79,260$78,576$77,907$76,086
2 years$39,940$39,197$38,476$37,777$37,099$35,274
3 years$26,362$25,615$24,896$24,204$23,537$21,766
4 years$19,575$18,830$18,118$17,438$16,787$15,083
5 years$15,503$14,763$14,060$13,394$12,761$11,129
6 years$12,790$12,055$11,363$10,711$10,097$8,540
7 years$10,852$10,124$9,443$8,806$8,212$6,728
8 years$9,400$8,678$8,008$7,387$6,813$5,402
9 years$8,271$7,556$6,897$6,292$5,737$4,399
10 years$7,368$6,660$6,013$5,424$4,888$3,621
11 years$6,630$5,929$5,294$4,721$4,204$3,006
12 years$6,015$5,322$4,698$4,141$3,643$2,513
13 years$5,496$4,809$4,198$3,655$3,177$2,111
14 years$5,051$4,371$3,772$3,245$2,785$1,782
15 years$4,665$3,993$3,405$2,894$2,452$1,510
16 years$4,328$3,664$3,087$2,591$2,167$1,283
17 years$4,032$3,374$2,809$2,328$1,922$1,093
18 years$3,768$3,118$2,565$2,098$1,709$933
19 years$3,532$2,890$2,348$1,896$1,523$798
20 years$3,321$2,685$2,155$1,717$1,360$683
21 years$3,129$2,501$1,982$1,558$1,217$586
22 years$2,955$2,335$1,827$1,417$1,091$503
23 years$2,797$2,184$1,687$1,290$979$432
24 years$2,652$2,046$1,560$1,177$880$372
25 years$2,519$1,920$1,445$1,075$792$320
26 years$2,396$1,805$1,340$983$714$276
27 years$2,283$1,698$1,244$900$643$238
28 years$2,178$1,600$1,157$824$580$205
29 years$2,080$1,510$1,076$756$524$177
30 years$1,989$1,426$1,003$694$474$152
31 years$1,904$1,348$935$637$428$131
32 years$1,824$1,275$872$585$387$113
33 years$1,750$1,208$814$538$351$98
34 years$1,680$1,145$761$495$317$85
35 years$1,614$1,086$711$456$287$73
36 years$1,552$1,030$665$420$260$63
37 years$1,493$979$623$387$236$54
38 years$1,438$930$583$357$214$47
39 years$1,385$884$546$329$194$41
40 years$1,336$841$512$303$176$35
41 years$1,289$801$480$280$160$30
42 years$1,244$763$450$258$145$26
43 years$1,201$727$423$238$132$23
44 years$1,161$693$397$220$119$20
45 years$1,122$661$373$203$108$17
46 years$1,085$630$350$188$98$15
47 years$1,050$601$329$173$89$13
48 years$1,017$574$309$160$81$11
49 years$985$548$290$148$74$9
50 years$954$524$273$137$67$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $977,000, adding $2,468 every year, while hoping to spend $20,080 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: 51/36/13 Blend
54$977,000$977,000$977,000$977,000
55$1,079,200$1,027,419$1,012,275$1,130,342
56$1,167,913$1,056,397$1,024,821$1,194,600
57$1,265,002$1,086,123$1,037,115$1,262,093
58$1,371,300$1,116,611$1,049,126$1,335,013
59$1,487,725$1,147,876$1,060,824$1,413,878
60$1,615,286$1,179,935$1,072,175$1,499,256
61$1,755,096$1,212,804$1,083,144$1,591,775
62$1,908,382$1,246,496$1,093,694$1,692,124
63$2,076,491$1,281,029$1,103,788$1,801,062
64$2,260,912$1,316,418$1,113,383$1,919,425
65$2,463,281$1,352,679$1,122,438$2,048,135
66$2,685,402$1,389,827$1,130,906$2,188,203
67$2,929,262$1,427,877$1,138,740$2,340,747
68$3,197,049$1,466,845$1,145,890$2,506,995
69$3,491,173$1,506,746$1,152,303$2,688,301
70$3,814,291$1,547,595$1,157,923$2,886,156
71$4,169,328$1,589,406$1,162,693$3,102,201
72$4,559,508$1,632,195$1,166,551$3,338,246
73$4,988,380$1,675,975$1,169,433$3,596,283
74$5,459,857$1,720,760$1,171,271$3,878,506
75$5,978,248$1,766,564$1,171,995$4,187,334
76$6,548,303$1,813,398$1,171,530$4,525,430
77$7,175,251$1,861,276$1,169,797$4,895,728
78$7,864,857$1,910,209$1,166,716$5,301,461
79$8,623,472$1,960,209$1,162,200$5,746,192
80$9,458,092$2,011,285$1,156,160$6,233,843
81$10,376,426$2,063,447$1,148,500$6,768,740
82$11,386,970$2,116,704$1,139,123$7,355,645
83$12,499,081$2,171,062$1,127,924$7,999,809
84$13,723,073$2,226,530$1,114,795$8,707,015
85$15,070,308$2,283,112$1,099,622$9,483,636
86$16,553,307$2,340,812$1,082,287$10,336,694
87$18,185,865$2,399,633$1,062,665$11,273,927
88$19,983,184$2,459,575$1,040,625$12,303,863
89$21,962,014$2,520,640$1,016,031$13,435,895
90$24,140,812$2,582,824$988,741$14,680,378
91$26,539,915$2,646,123$958,604$16,048,720
92$29,181,735$2,710,530$925,465$17,553,494
93$32,090,964$2,776,039$889,161$19,208,552
94$35,294,815$2,842,637$849,520$21,029,161
95$38,823,271$2,910,312$806,364$23,032,144
96$42,709,374$2,979,046$759,507$25,236,041
97$46,989,533$3,048,822$708,753$27,661,279
98$51,703,867$3,119,617$653,898$30,330,371
99$56,896,588$3,191,404$594,730$33,268,128
100$62,616,413$3,264,156$531,026$36,501,888