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%11.1%
1 years$80,927$80,207$79,503$78,817$78,147$77,785
2 years$40,063$39,317$38,594$37,893$37,213$36,847
3 years$26,443$25,694$24,973$24,278$23,609$23,252
4 years$19,635$18,888$18,174$17,491$16,838$16,491
5 years$15,551$14,808$14,104$13,435$12,800$12,465
6 years$12,829$12,092$11,398$10,744$10,128$9,805
7 years$10,886$10,155$9,472$8,833$8,237$7,926
8 years$9,429$8,705$8,033$7,410$6,833$6,535
9 years$8,296$7,579$6,919$6,312$5,755$5,469
10 years$7,391$6,680$6,032$5,441$4,903$4,629
11 years$6,650$5,947$5,310$4,735$4,217$3,955
12 years$6,034$5,338$4,713$4,153$3,654$3,404
13 years$5,513$4,824$4,211$3,667$3,187$2,948
14 years$5,066$4,385$3,783$3,255$2,793$2,566
15 years$4,680$4,006$3,416$2,903$2,460$2,243
16 years$4,342$3,675$3,097$2,599$2,174$1,968
17 years$4,044$3,385$2,818$2,335$1,927$1,732
18 years$3,779$3,128$2,572$2,105$1,714$1,528
19 years$3,543$2,899$2,355$1,902$1,528$1,351
20 years$3,331$2,693$2,161$1,722$1,364$1,198
21 years$3,139$2,509$1,988$1,563$1,221$1,063
22 years$2,964$2,342$1,832$1,421$1,094$945
23 years$2,806$2,190$1,692$1,294$982$842
24 years$2,660$2,052$1,565$1,181$883$750
25 years$2,527$1,926$1,449$1,078$795$670
26 years$2,403$1,810$1,344$986$716$598
27 years$2,290$1,703$1,248$902$645$535
28 years$2,184$1,605$1,160$827$582$478
29 years$2,086$1,514$1,080$758$526$428
30 years$1,995$1,430$1,006$696$475$383
31 years$1,910$1,352$938$639$430$344
32 years$1,830$1,279$875$587$389$308
33 years$1,755$1,211$817$540$352$276
34 years$1,685$1,148$763$497$318$248
35 years$1,619$1,089$713$457$288$222
36 years$1,556$1,034$667$421$261$200
37 years$1,498$982$625$388$237$179
38 years$1,442$933$585$358$215$161
39 years$1,390$887$548$330$195$145
40 years$1,340$844$514$304$177$130
41 years$1,293$803$482$281$160$117
42 years$1,248$765$452$259$145$105
43 years$1,205$729$424$239$132$94
44 years$1,164$695$398$221$120$85
45 years$1,126$663$374$204$109$76
46 years$1,089$632$351$188$99$69
47 years$1,054$603$330$174$90$62
48 years$1,020$576$310$161$81$56
49 years$988$550$291$149$74$50
50 years$957$525$274$137$67$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $980,000, adding $2,628 every year, while hoping to spend $60,000 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: 57/38/5 Blend
54$980,000$980,000$980,000$980,000
55$1,082,671$1,030,731$1,015,541$1,143,204
56$1,129,264$1,017,397$985,722$1,170,835
57$1,178,598$1,001,399$952,893$1,193,908
58$1,230,890$982,543$916,890$1,217,541
59$1,286,377$960,623$877,542$1,241,791
60$1,345,316$935,422$834,668$1,266,725
61$1,407,990$906,710$788,081$1,292,419
62$1,474,709$874,242$737,586$1,318,960
63$1,545,810$837,762$682,976$1,346,448
64$1,621,666$796,995$624,039$1,374,996
65$1,702,682$751,654$560,550$1,404,733
66$1,789,303$701,432$492,276$1,435,804
67$1,882,017$646,007$418,972$1,468,375
68$1,981,359$585,038$340,385$1,502,633
69$2,087,917$518,164$256,246$1,538,790
70$2,202,334$445,004$166,280$1,577,084
71$2,325,317$365,154$70,196$1,617,783
72$2,457,642$278,190$0$1,661,190
73$2,600,162$183,661$0$1,709,371
74$2,753,811$81,093$0$1,765,090
75$2,919,619$0$0$1,825,044
76$3,098,713$0$0$1,902,284
77$3,292,336$0$0$2,022,516
78$3,501,852$0$0$2,152,686
79$3,728,760$0$0$2,293,737
80$3,974,708$0$0$2,446,701
81$4,241,510$0$0$2,612,715
82$4,531,159$0$0$2,793,032
83$4,845,848$0$0$2,989,026
84$5,187,990$0$0$3,202,211
85$5,560,238$0$0$3,434,253
86$5,965,513$0$0$3,686,984
87$6,407,026$0$0$3,962,420
88$6,888,314$0$0$4,262,781
89$7,413,268$0$0$4,590,508
90$7,986,172$0$0$4,948,291
91$8,611,739$0$0$5,339,088
92$9,295,160$0$0$5,766,158
93$10,042,148$0$0$6,233,087
94$10,858,994$0$0$6,743,825
95$11,752,623$0$0$7,302,719
96$12,730,662$0$0$7,914,558
97$13,801,507$0$0$8,584,613
98$14,974,408$0$0$9,318,692
99$16,259,545$0$0$10,123,187
100$17,668,137$0$0$11,005,142