Can I retire at age 55 with 978,000?

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 $978,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$80,762$80,043$79,341$78,656$77,987$75,948
2 years$39,981$39,237$38,515$37,815$37,137$35,096
3 years$26,389$25,642$24,922$24,229$23,561$21,583
4 years$19,595$18,849$18,137$17,455$16,804$14,903
5 years$15,519$14,778$14,075$13,407$12,774$10,957
6 years$12,803$12,067$11,375$10,722$10,108$8,375
7 years$10,863$10,134$9,452$8,815$8,220$6,572
8 years$9,410$8,687$8,016$7,395$6,820$5,256
9 years$8,279$7,563$6,904$6,299$5,743$4,262
10 years$7,376$6,667$6,019$5,430$4,893$3,493
11 years$6,637$5,935$5,299$4,725$4,208$2,887
12 years$6,022$5,327$4,703$4,145$3,647$2,402
13 years$5,501$4,814$4,202$3,659$3,180$2,009
14 years$5,056$4,376$3,775$3,248$2,788$1,687
15 years$4,670$3,997$3,409$2,897$2,455$1,422
16 years$4,333$3,668$3,091$2,594$2,169$1,203
17 years$4,036$3,378$2,812$2,331$1,923$1,019
18 years$3,772$3,121$2,567$2,100$1,710$866
19 years$3,536$2,893$2,350$1,898$1,524$737
20 years$3,324$2,688$2,157$1,719$1,362$628
21 years$3,132$2,504$1,984$1,560$1,219$535
22 years$2,958$2,337$1,828$1,418$1,092$457
23 years$2,800$2,186$1,688$1,292$980$391
24 years$2,655$2,048$1,561$1,178$881$334
25 years$2,521$1,922$1,446$1,076$793$286
26 years$2,399$1,806$1,341$984$714$245
27 years$2,285$1,700$1,245$900$644$210
28 years$2,180$1,602$1,158$825$581$180
29 years$2,082$1,511$1,077$757$525$154
30 years$1,991$1,427$1,004$694$474$132
31 years$1,906$1,349$936$638$429$113
32 years$1,826$1,277$873$586$388$97
33 years$1,751$1,209$815$539$351$84
34 years$1,681$1,146$762$496$318$72
35 years$1,615$1,087$712$456$288$62
36 years$1,553$1,032$666$420$261$53
37 years$1,495$980$623$387$236$45
38 years$1,439$931$584$357$214$39
39 years$1,387$885$547$329$194$33
40 years$1,337$842$513$304$176$29
41 years$1,290$802$481$280$160$25
42 years$1,245$764$451$259$145$21
43 years$1,203$728$423$239$132$18
44 years$1,162$694$397$220$119$16
45 years$1,123$661$373$204$108$13
46 years$1,087$631$350$188$98$12
47 years$1,051$602$329$174$89$10
48 years$1,018$575$309$160$81$9
49 years$986$549$291$148$74$7
50 years$955$524$273$137$67$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $978,000, adding $2,402 every year, while hoping to spend $30,982 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: 73/6/21 Blend
54$978,000$978,000$978,000$978,000
55$1,080,234$1,028,400$1,013,241$1,153,432
56$1,157,453$1,045,827$1,014,220$1,219,853
57$1,241,510$1,063,069$1,014,193$1,288,641
58$1,333,070$1,080,085$1,013,094$1,363,221
59$1,432,864$1,096,831$1,010,854$1,444,162
60$1,541,698$1,113,257$1,007,399$1,532,095
61$1,660,457$1,129,312$1,002,653$1,627,711
62$1,790,117$1,144,942$996,535$1,731,776
63$1,931,751$1,160,087$988,962$1,845,130
64$2,086,542$1,174,683$979,844$1,968,702
65$2,255,791$1,188,665$969,091$2,103,515
66$2,440,931$1,201,958$956,604$2,250,695
67$2,643,539$1,214,487$942,283$2,411,485
68$2,865,352$1,226,169$926,022$2,587,254
69$3,108,284$1,236,917$907,710$2,779,512
70$3,374,441$1,246,638$887,230$2,989,923
71$3,666,143$1,255,232$864,461$3,220,320
72$3,985,945$1,262,594$839,276$3,472,724
73$4,336,661$1,268,611$811,541$3,749,365
74$4,721,391$1,273,163$781,118$4,052,697
75$5,143,548$1,276,124$747,862$4,385,428
76$5,606,894$1,277,358$711,619$4,750,541
77$6,115,570$1,276,722$672,231$5,151,325
78$6,674,140$1,274,062$629,532$5,591,405
79$7,287,629$1,269,219$583,349$6,074,778
80$7,961,576$1,262,018$533,499$6,605,848
81$8,702,078$1,252,279$479,793$7,189,468
82$9,515,858$1,239,808$422,034$7,830,991
83$10,410,317$1,224,401$360,014$8,536,313
84$11,393,612$1,205,839$293,517$9,311,937
85$12,474,729$1,183,893$222,318$10,165,027
86$13,663,567$1,158,320$146,181$11,103,481
87$14,971,033$1,128,860$64,861$12,136,005
88$16,409,146$1,095,241$0$13,272,192
89$17,991,144$1,057,174$0$14,527,530
90$19,731,617$1,014,351$0$15,924,592
91$21,646,637$966,449$0$17,461,739
92$23,753,914$913,126$0$19,153,196
93$26,072,963$854,019$0$21,014,637
94$28,625,283$788,743$0$23,063,334
95$31,434,565$716,896$0$25,318,320
96$34,526,914$638,046$0$27,800,567
97$37,931,092$551,743$0$30,533,184
98$41,678,793$457,508$0$33,541,637
99$45,804,939$354,835$0$36,853,988
100$50,348,012$243,191$0$40,501,159