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%19.3%
1 years$80,845$80,125$79,422$78,736$78,067$75,148
2 years$40,022$39,277$38,554$37,854$37,175$34,267
3 years$26,416$25,668$24,947$24,253$23,585$20,781
4 years$19,615$18,869$18,155$17,473$16,821$14,141
5 years$15,535$14,793$14,089$13,421$12,787$10,238
6 years$12,816$12,080$11,386$10,733$10,118$7,702
7 years$10,875$10,145$9,462$8,824$8,229$5,946
8 years$9,419$8,696$8,024$7,402$6,826$4,674
9 years$8,288$7,571$6,911$6,305$5,749$3,723
10 years$7,383$6,674$6,026$5,435$4,898$2,997
11 years$6,644$5,941$5,305$4,730$4,213$2,431
12 years$6,028$5,332$4,708$4,149$3,651$1,984
13 years$5,507$4,819$4,206$3,663$3,183$1,627
14 years$5,061$4,380$3,779$3,252$2,791$1,339
15 years$4,675$4,002$3,412$2,900$2,457$1,106
16 years$4,337$3,671$3,094$2,596$2,172$916
17 years$4,040$3,381$2,815$2,333$1,925$760
18 years$3,776$3,124$2,570$2,102$1,712$632
19 years$3,540$2,896$2,353$1,900$1,526$526
20 years$3,327$2,691$2,159$1,721$1,363$438
21 years$3,136$2,506$1,986$1,562$1,220$365
22 years$2,961$2,340$1,830$1,420$1,093$305
23 years$2,803$2,188$1,690$1,293$981$255
24 years$2,657$2,050$1,563$1,179$882$213
25 years$2,524$1,924$1,448$1,077$794$178
26 years$2,401$1,808$1,343$985$715$149
27 years$2,287$1,702$1,247$901$645$125
28 years$2,182$1,604$1,159$826$582$104
29 years$2,084$1,513$1,079$757$525$87
30 years$1,993$1,429$1,005$695$475$73
31 years$1,908$1,351$937$638$429$61
32 years$1,828$1,278$874$587$388$51
33 years$1,753$1,210$816$539$351$43
34 years$1,683$1,147$762$496$318$36
35 years$1,617$1,088$713$457$288$30
36 years$1,555$1,033$667$421$261$25
37 years$1,496$981$624$388$237$21
38 years$1,441$932$584$357$214$18
39 years$1,388$886$548$330$194$15
40 years$1,338$843$513$304$176$12
41 years$1,291$803$481$280$160$10
42 years$1,246$764$451$259$145$9
43 years$1,204$728$424$239$132$7
44 years$1,163$694$398$221$120$6
45 years$1,125$662$373$204$109$5
46 years$1,088$632$351$188$99$4
47 years$1,052$603$329$174$90$4
48 years$1,019$575$310$161$81$3
49 years$987$549$291$148$74$3
50 years$956$525$274$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $979,000, adding $3,410 every year, while hoping to spend $55,919 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: 56/14/30 Blend
54$979,000$979,000$979,000$979,000
55$1,082,375$1,030,488$1,015,314$1,133,831
56$1,133,280$1,021,485$989,830$1,160,686
57$1,187,503$1,010,166$961,617$1,183,878
58$1,245,324$996,360$930,527$1,208,036
59$1,307,048$979,882$896,401$1,233,274
60$1,373,011$960,541$859,074$1,259,720
61$1,443,581$938,130$818,376$1,287,517
62$1,519,160$912,432$774,125$1,316,827
63$1,600,191$883,218$726,135$1,347,830
64$1,687,158$850,243$674,208$1,380,729
65$1,780,595$813,251$618,140$1,415,752
66$1,881,084$771,969$557,716$1,453,152
67$1,989,267$726,108$492,713$1,493,214
68$2,105,849$675,364$422,895$1,536,254
69$2,231,603$619,414$348,019$1,582,629
70$2,367,379$557,918$267,831$1,632,733
71$2,514,111$490,516$182,062$1,687,007
72$2,672,825$416,826$90,436$1,745,943
73$2,844,650$336,447$0$1,810,088
74$3,030,825$248,954$0$1,882,403
75$3,232,716$153,899$0$1,992,261
76$3,451,820$50,808$0$2,111,537
77$3,689,789$0$0$2,241,176
78$3,948,435$0$0$2,391,589
79$4,229,755$0$0$2,563,777
80$4,535,946$0$0$2,751,269
81$4,869,422$0$0$2,955,554
82$5,232,844$0$0$3,178,270
83$5,629,137$0$0$3,421,223
84$6,061,522$0$0$3,686,399
85$6,533,544$0$0$3,975,983
86$7,049,105$0$0$4,292,382
87$7,612,501$0$0$4,638,246
88$8,228,462$0$0$5,016,491
89$8,902,195$0$0$5,430,329
90$9,639,433$0$0$5,883,296
91$10,446,490$0$0$6,379,287
92$11,330,317$0$0$6,922,590
93$12,298,570$0$0$7,517,927
94$13,359,681$0$0$8,170,499
95$14,522,935$0$0$8,886,035
96$15,798,559$0$0$9,670,843
97$17,197,817$0$0$10,531,871
98$18,733,114$0$0$11,476,775
99$20,418,117$0$0$12,513,984
100$22,267,879$0$0$13,652,786