Can I retire at age 55 with 982,000?

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 $982,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$81,093$80,370$79,666$78,978$78,306$77,041
2 years$40,145$39,397$38,673$37,970$37,289$36,017
3 years$26,497$25,747$25,024$24,328$23,657$22,419
4 years$19,675$18,926$18,211$17,527$16,873$15,678
5 years$15,583$14,839$14,132$13,462$12,826$11,678
6 years$12,855$12,117$11,421$10,766$10,149$9,049
7 years$10,908$10,176$9,491$8,851$8,254$7,202
8 years$9,448$8,722$8,049$7,425$6,847$5,843
9 years$8,313$7,594$6,933$6,325$5,767$4,810
10 years$7,406$6,694$6,044$5,452$4,913$4,003
11 years$6,664$5,959$5,321$4,745$4,226$3,362
12 years$6,046$5,349$4,722$4,162$3,662$2,842
13 years$5,524$4,834$4,219$3,674$3,193$2,417
14 years$5,077$4,394$3,791$3,262$2,799$2,065
15 years$4,689$4,014$3,423$2,909$2,465$1,772
16 years$4,351$3,683$3,103$2,604$2,178$1,525
17 years$4,052$3,392$2,824$2,340$1,931$1,316
18 years$3,787$3,134$2,578$2,109$1,717$1,138
19 years$3,550$2,904$2,360$1,906$1,531$986
20 years$3,338$2,699$2,166$1,726$1,367$856
21 years$3,145$2,514$1,992$1,566$1,223$745
22 years$2,971$2,347$1,836$1,424$1,097$648
23 years$2,811$2,195$1,695$1,297$984$565
24 years$2,666$2,056$1,568$1,183$885$493
25 years$2,532$1,930$1,452$1,080$796$430
26 years$2,408$1,814$1,347$988$717$376
27 years$2,294$1,707$1,251$904$647$329
28 years$2,189$1,608$1,163$828$583$287
29 years$2,090$1,517$1,082$760$527$252
30 years$1,999$1,433$1,008$697$476$220
31 years$1,913$1,355$939$640$430$193
32 years$1,834$1,282$877$588$389$169
33 years$1,759$1,214$818$541$352$148
34 years$1,688$1,150$765$498$319$130
35 years$1,622$1,091$715$458$289$114
36 years$1,560$1,036$669$422$262$100
37 years$1,501$984$626$389$237$87
38 years$1,445$935$586$358$215$77
39 years$1,392$889$549$331$195$67
40 years$1,343$846$515$305$177$59
41 years$1,295$805$483$281$161$52
42 years$1,250$767$453$260$146$45
43 years$1,207$731$425$240$132$40
44 years$1,167$696$399$221$120$35
45 years$1,128$664$374$204$109$31
46 years$1,091$633$352$189$99$27
47 years$1,056$605$330$174$90$24
48 years$1,022$577$311$161$82$21
49 years$990$551$292$149$74$18
50 years$959$526$274$138$67$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $982,000, adding $4,972 every year, while hoping to spend $49,537 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: 67/17/16 Blend
54$982,000$982,000$982,000$982,000
55$1,087,293$1,035,247$1,020,026$1,155,658
56$1,145,489$1,033,267$1,001,489$1,199,953
57$1,207,962$1,029,530$980,672$1,242,106
58$1,275,094$1,023,897$957,445$1,286,968
59$1,347,308$1,016,221$931,673$1,334,801
60$1,425,065$1,006,348$903,215$1,385,895
61$1,508,873$994,111$871,925$1,440,572
62$1,599,291$979,335$837,648$1,499,187
63$1,696,933$961,836$800,222$1,562,134
64$1,802,470$941,416$759,480$1,629,847
65$1,916,645$917,869$715,246$1,702,808
66$2,040,270$890,972$667,334$1,781,546
67$2,174,242$860,494$615,554$1,866,651
68$2,319,543$826,186$559,703$1,958,771
69$2,477,256$787,789$499,573$2,058,624
70$2,648,572$745,026$434,944$2,167,004
71$2,834,798$697,604$365,587$2,284,787
72$3,037,376$645,215$291,262$2,412,942
73$3,257,889$587,532$211,721$2,552,540
74$3,498,082$524,209$126,702$2,704,764
75$3,759,874$454,883$35,933$2,870,920
76$4,045,375$379,166$0$3,052,453
77$4,356,910$296,652$0$3,261,359
78$4,697,037$206,910$0$3,496,219
79$5,068,572$109,486$0$3,752,891
80$5,474,616$3,900$0$4,033,578
81$5,918,581$0$0$4,340,709
82$6,404,226$0$0$4,697,607
83$6,935,688$0$0$5,089,034
84$7,517,523$0$0$5,517,622
85$8,154,749$0$0$5,987,076
86$8,852,891$0$0$6,501,474
87$9,618,033$0$0$7,065,308
88$10,456,878$0$0$7,683,525
89$11,376,805$0$0$8,361,572
90$12,385,946$0$0$9,105,451
91$13,493,252$0$0$9,921,773
92$14,708,588$0$0$10,817,818
93$16,042,817$0$0$11,801,606
94$17,507,908$0$0$12,881,972
95$19,117,042$0$0$14,068,649
96$20,884,743$0$0$15,372,357
97$22,827,009$0$0$16,804,908
98$24,961,465$0$0$18,379,312
99$27,307,527$0$0$20,109,906
100$29,886,588$0$0$22,012,481