Can I retire at age 55 with 980,000?

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 $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%13.3%
1 years$80,927$80,207$79,503$78,817$78,147$77,074
2 years$40,063$39,317$38,594$37,893$37,213$36,134
3 years$26,443$25,694$24,973$24,278$23,609$22,558
4 years$19,635$18,888$18,174$17,491$16,838$15,823
5 years$15,551$14,808$14,104$13,435$12,800$11,823
6 years$12,829$12,092$11,398$10,744$10,128$9,191
7 years$10,886$10,155$9,472$8,833$8,237$7,339
8 years$9,429$8,705$8,033$7,410$6,833$5,976
9 years$8,296$7,579$6,919$6,312$5,755$4,936
10 years$7,391$6,680$6,032$5,441$4,903$4,124
11 years$6,650$5,947$5,310$4,735$4,217$3,476
12 years$6,034$5,338$4,713$4,153$3,654$2,950
13 years$5,513$4,824$4,211$3,667$3,187$2,519
14 years$5,066$4,385$3,783$3,255$2,793$2,161
15 years$4,680$4,006$3,416$2,903$2,460$1,861
16 years$4,342$3,675$3,097$2,599$2,174$1,608
17 years$4,044$3,385$2,818$2,335$1,927$1,394
18 years$3,779$3,128$2,572$2,105$1,714$1,211
19 years$3,543$2,899$2,355$1,902$1,528$1,054
20 years$3,331$2,693$2,161$1,722$1,364$919
21 years$3,139$2,509$1,988$1,563$1,221$803
22 years$2,964$2,342$1,832$1,421$1,094$702
23 years$2,806$2,190$1,692$1,294$982$615
24 years$2,660$2,052$1,565$1,181$883$539
25 years$2,527$1,926$1,449$1,078$795$473
26 years$2,403$1,810$1,344$986$716$415
27 years$2,290$1,703$1,248$902$645$365
28 years$2,184$1,605$1,160$827$582$320
29 years$2,086$1,514$1,080$758$526$282
30 years$1,995$1,430$1,006$696$475$248
31 years$1,910$1,352$938$639$430$218
32 years$1,830$1,279$875$587$389$192
33 years$1,755$1,211$817$540$352$169
34 years$1,685$1,148$763$497$318$149
35 years$1,619$1,089$713$457$288$131
36 years$1,556$1,034$667$421$261$116
37 years$1,498$982$625$388$237$102
38 years$1,442$933$585$358$215$90
39 years$1,390$887$548$330$195$79
40 years$1,340$844$514$304$177$70
41 years$1,293$803$482$281$160$62
42 years$1,248$765$452$259$145$54
43 years$1,205$729$424$239$132$48
44 years$1,164$695$398$221$120$42
45 years$1,126$663$374$204$109$37
46 years$1,089$632$351$188$99$33
47 years$1,054$603$330$174$90$29
48 years$1,020$576$310$161$81$26
49 years$988$550$291$149$74$23
50 years$957$525$274$137$67$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $980,000, adding $2,834 every year, while hoping to spend $33,893 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: 75/12/13 Blend
54$980,000$980,000$980,000$980,000
55$1,082,883$1,030,943$1,015,753$1,160,996
56$1,157,275$1,045,398$1,013,719$1,227,409
57$1,238,120$1,059,424$1,010,481$1,295,656
58$1,326,038$1,072,966$1,005,962$1,369,520
59$1,421,716$1,085,964$1,000,084$1,449,549
60$1,525,906$1,098,351$992,762$1,536,345
61$1,639,438$1,110,059$983,908$1,630,575
62$1,763,223$1,121,015$973,432$1,732,970
63$1,898,266$1,131,139$961,236$1,844,338
64$2,045,672$1,140,347$947,221$1,965,567
65$2,206,658$1,148,552$931,280$2,097,639
66$2,382,562$1,155,656$913,303$2,241,634
67$2,574,860$1,161,560$893,175$2,398,741
68$2,785,174$1,166,155$870,775$2,570,273
69$3,015,293$1,169,327$845,976$2,757,676
70$3,267,183$1,170,954$818,647$2,962,544
71$3,543,012$1,170,908$788,649$3,186,633
72$3,845,168$1,169,050$755,836$3,431,879
73$4,176,277$1,165,236$720,059$3,700,416
74$4,539,235$1,159,310$681,159$3,994,595
75$4,937,229$1,151,109$638,970$4,317,009
76$5,373,771$1,140,458$593,320$4,670,514
77$5,852,729$1,127,173$544,029$5,058,261
78$6,378,360$1,111,058$490,907$5,483,719
79$6,955,360$1,091,906$433,759$5,950,715
80$7,588,894$1,069,497$372,378$6,463,465
81$8,284,658$1,043,600$306,550$7,026,617
82$9,048,924$1,013,966$236,049$7,645,294
83$9,888,600$980,337$160,643$8,325,142
84$10,811,299$942,435$80,086$9,072,386
85$11,825,406$899,969$0$9,893,885
86$12,940,160$852,629$0$10,798,017
87$14,165,738$800,090$0$11,804,206
88$15,513,354$742,006$0$12,910,558
89$16,995,363$678,010$0$14,127,236
90$18,625,375$607,718$0$15,465,442
91$20,418,388$530,721$0$16,937,520
92$22,390,924$446,587$0$18,557,070
93$24,561,190$354,861$0$20,339,084
94$26,949,245$255,063$0$22,300,078
95$29,577,189$146,682$0$24,458,255
96$32,469,376$29,184$0$26,833,676
97$35,652,639$0$0$29,448,446
98$39,156,543$0$0$32,339,866
99$43,013,667$0$0$35,527,053
100$47,259,907$0$0$39,035,822