Can I retire at age 55 with 983,000?

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 $983,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$81,175$80,452$79,747$79,058$78,386$77,183
2 years$40,186$39,437$38,712$38,009$37,327$36,117
3 years$26,524$25,773$25,049$24,353$23,682$22,504
4 years$19,695$18,946$18,229$17,545$16,890$15,753
5 years$15,599$14,854$14,147$13,476$12,839$11,746
6 years$12,868$12,129$11,433$10,777$10,159$9,111
7 years$10,919$10,186$9,501$8,860$8,262$7,260
8 years$9,458$8,731$8,057$7,433$6,854$5,897
9 years$8,322$7,602$6,940$6,331$5,772$4,860
10 years$7,413$6,701$6,050$5,457$4,918$4,050
11 years$6,671$5,965$5,327$4,750$4,230$3,405
12 years$6,052$5,354$4,727$4,166$3,666$2,883
13 years$5,530$4,839$4,223$3,678$3,196$2,455
14 years$5,082$4,398$3,795$3,265$2,802$2,100
15 years$4,694$4,018$3,426$2,912$2,467$1,804
16 years$4,355$3,686$3,106$2,607$2,180$1,555
17 years$4,056$3,395$2,827$2,342$1,933$1,344
18 years$3,791$3,137$2,580$2,111$1,719$1,164
19 years$3,554$2,907$2,362$1,907$1,532$1,010
20 years$3,341$2,702$2,168$1,728$1,369$878
21 years$3,148$2,517$1,994$1,568$1,225$765
22 years$2,974$2,349$1,838$1,426$1,098$667
23 years$2,814$2,197$1,697$1,298$985$582
24 years$2,668$2,059$1,569$1,184$886$509
25 years$2,534$1,932$1,454$1,081$797$445
26 years$2,411$1,816$1,348$989$718$389
27 years$2,297$1,709$1,252$905$647$341
28 years$2,191$1,610$1,164$829$584$299
29 years$2,093$1,519$1,083$760$527$262
30 years$2,001$1,434$1,009$698$477$229
31 years$1,915$1,356$940$641$431$201
32 years$1,835$1,283$877$589$390$177
33 years$1,760$1,215$819$542$353$155
34 years$1,690$1,152$765$498$319$136
35 years$1,624$1,092$716$459$289$120
36 years$1,561$1,037$669$423$262$105
37 years$1,502$985$627$389$238$92
38 years$1,447$936$587$359$215$81
39 years$1,394$890$550$331$195$71
40 years$1,344$847$515$305$177$63
41 years$1,297$806$483$282$161$55
42 years$1,252$768$453$260$146$48
43 years$1,209$731$425$240$132$42
44 years$1,168$697$399$221$120$37
45 years$1,129$665$375$205$109$33
46 years$1,092$634$352$189$99$29
47 years$1,057$605$331$175$90$25
48 years$1,023$578$311$161$82$22
49 years$991$552$292$149$74$20
50 years$960$527$275$138$67$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $983,000, adding $2,255 every year, while hoping to spend $52,763 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: 48/25/27 Blend
54$983,000$983,000$983,000$983,000
55$1,085,592$1,033,493$1,018,257$1,129,244
56$1,140,183$1,027,995$996,229$1,154,640
57$1,198,574$1,020,459$971,695$1,176,828
58$1,261,096$1,010,729$944,514$1,199,892
59$1,328,115$998,642$914,542$1,223,940
60$1,400,028$984,021$881,625$1,249,096
61$1,477,275$966,681$845,603$1,275,499
62$1,560,336$946,428$806,310$1,303,303
63$1,649,739$923,051$763,570$1,332,687
64$1,746,063$896,332$717,201$1,363,847
65$1,849,947$866,038$667,012$1,397,007
66$1,962,089$831,921$612,804$1,432,416
67$2,083,258$793,721$554,369$1,470,355
68$2,214,299$751,162$491,489$1,511,138
69$2,356,140$703,951$423,937$1,555,115
70$2,509,803$651,781$351,475$1,602,681
71$2,676,409$594,325$273,856$1,654,273
72$2,857,193$531,237$190,821$1,710,384
73$3,053,513$462,154$102,099$1,771,558
74$3,266,861$386,689$7,409$1,838,408
75$3,498,880$304,436$0$1,911,613
76$3,751,377$214,965$0$2,018,908
77$4,026,341$117,822$0$2,138,190
78$4,325,959$12,527$0$2,268,355
79$4,652,640$0$0$2,410,541
80$5,009,033$0$0$2,593,913
81$5,398,056$0$0$2,797,937
82$5,822,919$0$0$3,020,864
83$6,287,158$0$0$3,264,562
84$6,794,663$0$0$3,531,087
85$7,349,720$0$0$3,822,705
86$7,957,046$0$0$4,141,908
87$8,621,834$0$0$4,491,443
88$9,349,807$0$0$4,874,332
89$10,147,261$0$0$5,293,907
90$11,021,135$0$0$5,753,833
91$11,979,068$0$0$6,258,150
92$13,029,474$0$0$6,811,306
93$14,181,620$0$0$7,418,202
94$15,445,714$0$0$8,084,233
95$16,832,999$0$0$8,815,344
96$18,355,860$0$0$9,618,084
97$20,027,938$0$0$10,499,667
98$21,864,261$0$0$11,468,037
99$23,881,384$0$0$12,531,950
100$26,097,543$0$0$13,701,049