Can I retire at age 55 with 984,000?

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 $984,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$81,258$80,534$79,828$79,139$78,466$76,076
2 years$40,227$39,477$38,751$38,047$37,365$34,977
3 years$26,551$25,799$25,075$24,377$23,706$21,396
4 years$19,715$18,965$18,248$17,562$16,907$14,692
5 years$15,614$14,869$14,161$13,490$12,852$10,739
6 years$12,881$12,141$11,444$10,788$10,170$8,159
7 years$10,930$10,196$9,510$8,869$8,271$6,363
8 years$9,467$8,740$8,065$7,440$6,861$5,056
9 years$8,330$7,610$6,947$6,337$5,778$4,072
10 years$7,421$6,708$6,056$5,463$4,923$3,315
11 years$6,678$5,972$5,332$4,754$4,234$2,720
12 years$6,059$5,360$4,732$4,170$3,669$2,247
13 years$5,535$4,844$4,228$3,682$3,200$1,865
14 years$5,087$4,403$3,799$3,268$2,805$1,555
15 years$4,699$4,022$3,430$2,915$2,470$1,301
16 years$4,359$3,690$3,109$2,610$2,183$1,091
17 years$4,060$3,398$2,829$2,345$1,935$917
18 years$3,795$3,140$2,583$2,113$1,721$773
19 years$3,558$2,910$2,365$1,909$1,534$652
20 years$3,344$2,704$2,170$1,729$1,370$551
21 years$3,152$2,519$1,996$1,569$1,226$466
22 years$2,977$2,351$1,840$1,427$1,099$395
23 years$2,817$2,199$1,699$1,300$986$334
24 years$2,671$2,061$1,571$1,185$887$283
25 years$2,537$1,934$1,455$1,083$798$240
26 years$2,413$1,817$1,349$990$719$204
27 years$2,299$1,710$1,253$906$648$173
28 years$2,193$1,612$1,165$830$585$147
29 years$2,095$1,520$1,084$761$528$125
30 years$2,003$1,436$1,010$699$477$106
31 years$1,917$1,357$941$642$431$90
32 years$1,837$1,284$878$590$390$77
33 years$1,762$1,216$820$542$353$65
34 years$1,692$1,153$766$499$320$56
35 years$1,625$1,093$716$459$290$47
36 years$1,563$1,038$670$423$262$40
37 years$1,504$986$627$390$238$34
38 years$1,448$937$587$359$216$29
39 years$1,395$891$550$331$195$25
40 years$1,345$847$516$305$177$21
41 years$1,298$807$484$282$161$18
42 years$1,253$768$454$260$146$15
43 years$1,210$732$426$240$132$13
44 years$1,169$698$400$222$120$11
45 years$1,130$665$375$205$109$9
46 years$1,093$635$352$189$99$8
47 years$1,058$606$331$175$90$7
48 years$1,024$578$311$161$82$6
49 years$992$552$292$149$74$5
50 years$961$528$275$138$67$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $984,000, adding $4,934 every year, while hoping to spend $21,230 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: 67/24/9 Blend
54$984,000$984,000$984,000$984,000
55$1,089,457$1,037,305$1,022,053$1,160,185
56$1,177,994$1,065,545$1,033,704$1,236,049
57$1,274,849$1,094,456$1,045,033$1,315,952
58$1,380,849$1,124,051$1,056,007$1,402,749
59$1,496,905$1,154,338$1,066,592$1,497,110
60$1,624,017$1,185,329$1,076,751$1,599,775
61$1,763,289$1,217,032$1,086,445$1,711,555
62$1,915,936$1,249,458$1,095,632$1,833,348
63$2,083,296$1,282,616$1,104,270$1,966,139
64$2,266,843$1,316,515$1,112,314$2,111,015
65$2,468,199$1,351,163$1,119,715$2,269,171
66$2,689,154$1,386,567$1,126,423$2,441,926
67$2,931,675$1,422,737$1,132,386$2,630,731
68$3,197,932$1,459,678$1,137,548$2,837,183
69$3,490,316$1,497,396$1,141,850$3,063,043
70$3,811,458$1,535,898$1,145,231$3,310,251
71$4,164,258$1,575,188$1,147,628$3,580,943
72$4,551,910$1,615,271$1,148,971$3,877,473
73$4,977,934$1,656,148$1,149,191$4,202,433
74$5,446,207$1,697,824$1,148,213$4,558,679
75$5,961,001$1,740,297$1,145,959$4,949,358
76$6,527,021$1,783,570$1,142,346$5,377,938
77$7,149,451$1,827,639$1,137,289$5,848,238
78$7,834,005$1,872,503$1,130,698$6,364,467
79$8,586,976$1,918,158$1,122,479$6,931,262
80$9,415,297$1,964,598$1,112,532$7,553,732
81$10,326,610$2,011,815$1,100,754$8,237,507
82$11,329,331$2,059,802$1,087,036$8,988,790
83$12,432,737$2,108,545$1,071,266$9,814,415
84$13,647,046$2,158,034$1,053,323$10,721,915
85$14,983,518$2,208,251$1,033,083$11,719,587
86$16,454,562$2,259,181$1,010,416$12,816,577
87$18,073,848$2,310,801$985,186$14,022,960
88$19,856,441$2,363,090$957,249$15,349,840
89$21,818,938$2,416,022$926,457$16,809,451
90$23,979,629$2,469,567$892,654$18,415,277
91$26,358,669$2,523,694$855,675$20,182,174
92$28,978,264$2,578,365$815,351$22,126,515
93$31,862,885$2,633,543$771,503$24,266,339
94$35,039,495$2,689,183$723,945$26,621,528
95$38,537,808$2,745,237$672,481$29,213,990
96$42,390,563$2,801,652$616,908$32,067,865
97$46,633,839$2,858,372$557,013$35,209,759
98$51,307,391$2,915,333$492,574$38,668,987
99$56,455,029$2,972,467$423,358$42,477,857
100$62,125,025$3,029,701$349,124$46,671,971