Can I retire at age 55 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$80,845$80,125$79,422$78,736$78,067$77,640
2 years$40,022$39,277$38,554$37,854$37,175$36,744
3 years$26,416$25,668$24,947$24,253$23,585$23,164
4 years$19,615$18,869$18,155$17,473$16,821$16,413
5 years$15,535$14,793$14,089$13,421$12,787$12,393
6 years$12,816$12,080$11,386$10,733$10,118$9,738
7 years$10,875$10,145$9,462$8,824$8,229$7,863
8 years$9,419$8,696$8,024$7,402$6,826$6,476
9 years$8,288$7,571$6,911$6,305$5,749$5,412
10 years$7,383$6,674$6,026$5,435$4,898$4,576
11 years$6,644$5,941$5,305$4,730$4,213$3,905
12 years$6,028$5,332$4,708$4,149$3,651$3,357
13 years$5,507$4,819$4,206$3,663$3,183$2,903
14 years$5,061$4,380$3,779$3,252$2,791$2,524
15 years$4,675$4,002$3,412$2,900$2,457$2,203
16 years$4,337$3,671$3,094$2,596$2,172$1,930
17 years$4,040$3,381$2,815$2,333$1,925$1,696
18 years$3,776$3,124$2,570$2,102$1,712$1,495
19 years$3,540$2,896$2,353$1,900$1,526$1,320
20 years$3,327$2,691$2,159$1,721$1,363$1,168
21 years$3,136$2,506$1,986$1,562$1,220$1,036
22 years$2,961$2,340$1,830$1,420$1,093$920
23 years$2,803$2,188$1,690$1,293$981$817
24 years$2,657$2,050$1,563$1,179$882$728
25 years$2,524$1,924$1,448$1,077$794$648
26 years$2,401$1,808$1,343$985$715$578
27 years$2,287$1,702$1,247$901$645$516
28 years$2,182$1,604$1,159$826$582$461
29 years$2,084$1,513$1,079$757$525$412
30 years$1,993$1,429$1,005$695$475$368
31 years$1,908$1,351$937$638$429$329
32 years$1,828$1,278$874$587$388$295
33 years$1,753$1,210$816$539$351$264
34 years$1,683$1,147$762$496$318$237
35 years$1,617$1,088$713$457$288$212
36 years$1,555$1,033$667$421$261$190
37 years$1,496$981$624$388$237$170
38 years$1,441$932$584$357$214$153
39 years$1,388$886$548$330$194$137
40 years$1,338$843$513$304$176$123
41 years$1,291$803$481$280$160$110
42 years$1,246$764$451$259$145$99
43 years$1,204$728$424$239$132$89
44 years$1,163$694$398$221$120$80
45 years$1,125$662$373$204$109$72
46 years$1,088$632$351$188$99$64
47 years$1,052$603$329$174$90$58
48 years$1,019$575$310$161$81$52
49 years$987$549$291$148$74$46
50 years$956$525$274$137$67$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $979,000, adding $3,382 every year, while hoping to spend $56,582 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: 69/9/22 Blend
54$979,000$979,000$979,000$979,000
55$1,082,347$1,030,460$1,015,285$1,150,839
56$1,132,543$1,020,749$989,094$1,187,369
57$1,185,963$1,008,667$960,130$1,220,418
58$1,242,876$994,036$928,239$1,255,222
59$1,303,577$976,671$893,262$1,291,950
60$1,368,387$956,373$855,032$1,330,793
61$1,437,661$932,934$813,374$1,371,960
62$1,511,787$906,132$768,106$1,415,683
63$1,591,189$875,733$719,038$1,462,220
64$1,676,334$841,488$665,969$1,511,857
65$1,767,734$803,134$608,693$1,564,911
66$1,865,949$760,394$546,990$1,621,733
67$1,971,596$712,974$480,635$1,682,714
68$2,085,352$660,563$409,390$1,748,283
69$2,207,960$602,832$333,006$1,818,920
70$2,340,235$539,434$251,225$1,895,153
71$2,483,076$470,003$163,777$1,977,568
72$2,637,466$394,149$70,380$2,066,814
73$2,804,489$311,464$0$2,163,610
74$2,985,335$221,514$0$2,275,624
75$3,181,314$123,843$0$2,414,940
76$3,393,863$17,967$0$2,566,067
77$3,624,567$0$0$2,730,159
78$3,875,165$0$0$2,918,058
79$4,147,573$0$0$3,124,292
80$4,443,895$0$0$3,348,682
81$4,766,451$0$0$3,592,990
82$5,117,790$0$0$3,859,155
83$5,500,717$0$0$4,149,307
84$5,918,322$0$0$4,465,796
85$6,374,004$0$0$4,811,204
86$6,871,503$0$0$5,188,376
87$7,414,939$0$0$5,600,442
88$8,008,846$0$0$6,050,848
89$8,658,215$0$0$6,543,389
90$9,368,542$0$0$7,082,243
91$10,145,879$0$0$7,672,010
92$10,996,889$0$0$8,317,756
93$11,928,911$0$0$9,025,059
94$12,950,024$0$0$9,800,061
95$14,069,129$0$0$10,649,529
96$15,296,025$0$0$11,580,914
97$16,641,508$0$0$12,602,421
98$18,117,467$0$0$13,723,090
99$19,736,998$0$0$14,952,877
100$21,514,524$0$0$16,302,748