Can I retire at age 55 with 980,000?

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 $980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$80,927$80,207$79,503$78,817$78,147$76,979
2 years$40,063$39,317$38,594$37,893$37,213$36,039
3 years$26,443$25,694$24,973$24,278$23,609$22,466
4 years$19,635$18,888$18,174$17,491$16,838$15,734
5 years$15,551$14,808$14,104$13,435$12,800$11,738
6 years$12,829$12,092$11,398$10,744$10,128$9,110
7 years$10,886$10,155$9,472$8,833$8,237$7,263
8 years$9,429$8,705$8,033$7,410$6,833$5,903
9 years$8,296$7,579$6,919$6,312$5,755$4,868
10 years$7,391$6,680$6,032$5,441$4,903$4,059
11 years$6,650$5,947$5,310$4,735$4,217$3,415
12 years$6,034$5,338$4,713$4,153$3,654$2,893
13 years$5,513$4,824$4,211$3,667$3,187$2,465
14 years$5,066$4,385$3,783$3,255$2,793$2,110
15 years$4,680$4,006$3,416$2,903$2,460$1,814
16 years$4,342$3,675$3,097$2,599$2,174$1,564
17 years$4,044$3,385$2,818$2,335$1,927$1,353
18 years$3,779$3,128$2,572$2,105$1,714$1,173
19 years$3,543$2,899$2,355$1,902$1,528$1,019
20 years$3,331$2,693$2,161$1,722$1,364$886
21 years$3,139$2,509$1,988$1,563$1,221$772
22 years$2,964$2,342$1,832$1,421$1,094$674
23 years$2,806$2,190$1,692$1,294$982$589
24 years$2,660$2,052$1,565$1,181$883$515
25 years$2,527$1,926$1,449$1,078$795$451
26 years$2,403$1,810$1,344$986$716$395
27 years$2,290$1,703$1,248$902$645$346
28 years$2,184$1,605$1,160$827$582$303
29 years$2,086$1,514$1,080$758$526$266
30 years$1,995$1,430$1,006$696$475$233
31 years$1,910$1,352$938$639$430$205
32 years$1,830$1,279$875$587$389$180
33 years$1,755$1,211$817$540$352$158
34 years$1,685$1,148$763$497$318$139
35 years$1,619$1,089$713$457$288$122
36 years$1,556$1,034$667$421$261$107
37 years$1,498$982$625$388$237$94
38 years$1,442$933$585$358$215$83
39 years$1,390$887$548$330$195$73
40 years$1,340$844$514$304$177$64
41 years$1,293$803$482$281$160$56
42 years$1,248$765$452$259$145$50
43 years$1,205$729$424$239$132$44
44 years$1,164$695$398$221$120$38
45 years$1,126$663$374$204$109$34
46 years$1,089$632$351$188$99$30
47 years$1,054$603$330$174$90$26
48 years$1,020$576$310$161$81$23
49 years$988$550$291$149$74$20
50 years$957$525$274$137$67$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $980,000, adding $3,736 every year, while hoping to spend $39,561 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: 29/49/22 Blend
54$980,000$980,000$980,000$980,000
55$1,083,814$1,031,874$1,016,684$1,107,687
56$1,152,270$1,040,343$1,008,650$1,134,892
57$1,226,383$1,047,901$999,021$1,160,353
58$1,306,688$1,054,462$987,702$1,186,899
59$1,393,773$1,059,934$974,593$1,214,648
60$1,488,286$1,064,218$959,590$1,243,732
61$1,590,938$1,067,212$942,583$1,274,301
62$1,702,512$1,068,804$923,458$1,306,522
63$1,823,870$1,068,877$902,095$1,340,583
64$1,955,958$1,067,305$878,369$1,376,694
65$2,099,821$1,063,958$852,149$1,415,091
66$2,256,604$1,058,694$823,298$1,456,037
67$2,427,572$1,051,364$791,673$1,499,827
68$2,614,113$1,041,809$757,122$1,546,788
69$2,817,757$1,029,863$719,491$1,597,290
70$3,040,189$1,015,347$678,615$1,651,740
71$3,283,262$998,073$634,322$1,710,596
72$3,549,018$977,841$586,435$1,774,367
73$3,839,702$954,440$534,765$1,843,620
74$4,157,790$927,646$479,118$1,918,987
75$4,506,006$897,221$419,289$2,001,169
76$4,887,349$862,916$355,066$2,090,949
77$5,305,124$824,464$286,226$2,189,195
78$5,762,969$781,585$212,537$2,296,874
79$6,264,891$733,982$133,756$2,415,057
80$6,815,303$681,340$49,630$2,544,936
81$7,419,066$623,328$0$2,687,835
82$8,081,534$559,594$0$2,854,645
83$8,808,603$489,768$0$3,050,616
84$9,606,771$413,456$0$3,265,960
85$10,483,192$330,246$0$3,502,750
86$11,445,748$239,699$0$3,763,279
87$12,503,124$141,353$0$4,050,085
88$13,664,883$34,720$0$4,365,973
89$14,941,565$0$0$4,714,045
90$16,344,779$0$0$5,141,252
91$17,887,315$0$0$5,631,626
92$19,583,263$0$0$6,170,946
93$21,448,149$0$0$6,764,171
94$23,499,076$0$0$7,416,764
95$25,754,888$0$0$8,134,745
96$28,236,349$0$0$8,924,746
97$30,966,335$0$0$9,794,075
98$33,970,050$0$0$10,750,785
99$37,275,267$0$0$11,803,747
100$40,912,584$0$0$12,962,738