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%17.2%
1 years$81,258$80,534$79,828$79,139$78,466$76,167
2 years$40,227$39,477$38,751$38,047$37,365$35,068
3 years$26,551$25,799$25,075$24,377$23,706$21,482
4 years$19,715$18,965$18,248$17,562$16,907$14,774
5 years$15,614$14,869$14,161$13,490$12,852$10,816
6 years$12,881$12,141$11,444$10,788$10,170$8,231
7 years$10,930$10,196$9,510$8,869$8,271$6,430
8 years$9,467$8,740$8,065$7,440$6,861$5,118
9 years$8,330$7,610$6,947$6,337$5,778$4,130
10 years$7,421$6,708$6,056$5,463$4,923$3,368
11 years$6,678$5,972$5,332$4,754$4,234$2,769
12 years$6,059$5,360$4,732$4,170$3,669$2,292
13 years$5,535$4,844$4,228$3,682$3,200$1,907
14 years$5,087$4,403$3,799$3,268$2,805$1,593
15 years$4,699$4,022$3,430$2,915$2,470$1,335
16 years$4,359$3,690$3,109$2,610$2,183$1,122
17 years$4,060$3,398$2,829$2,345$1,935$946
18 years$3,795$3,140$2,583$2,113$1,721$799
19 years$3,558$2,910$2,365$1,909$1,534$675
20 years$3,344$2,704$2,170$1,729$1,370$572
21 years$3,152$2,519$1,996$1,569$1,226$485
22 years$2,977$2,351$1,840$1,427$1,099$411
23 years$2,817$2,199$1,699$1,300$986$349
24 years$2,671$2,061$1,571$1,185$887$297
25 years$2,537$1,934$1,455$1,083$798$253
26 years$2,413$1,817$1,349$990$719$215
27 years$2,299$1,710$1,253$906$648$183
28 years$2,193$1,612$1,165$830$585$156
29 years$2,095$1,520$1,084$761$528$133
30 years$2,003$1,436$1,010$699$477$113
31 years$1,917$1,357$941$642$431$96
32 years$1,837$1,284$878$590$390$82
33 years$1,762$1,216$820$542$353$70
34 years$1,692$1,153$766$499$320$60
35 years$1,625$1,093$716$459$290$51
36 years$1,563$1,038$670$423$262$43
37 years$1,504$986$627$390$238$37
38 years$1,448$937$587$359$216$32
39 years$1,395$891$550$331$195$27
40 years$1,345$847$516$305$177$23
41 years$1,298$807$484$282$161$20
42 years$1,253$768$454$260$146$17
43 years$1,210$732$426$240$132$14
44 years$1,169$698$400$222$120$12
45 years$1,130$665$375$205$109$10
46 years$1,093$635$352$189$99$9
47 years$1,058$606$331$175$90$8
48 years$1,024$578$311$161$82$6
49 years$992$552$292$149$74$5
50 years$961$528$275$138$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $984,000, adding $4,686 every year, while hoping to spend $45,181 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: 68/5/27 Blend
54$984,000$984,000$984,000$984,000
55$1,089,202$1,037,050$1,021,798$1,155,334
56$1,152,228$1,039,793$1,007,956$1,203,123
57$1,220,169$1,041,156$992,136$1,249,814
58$1,293,477$1,041,024$974,224$1,299,870
59$1,372,652$1,039,275$954,100$1,353,624
60$1,458,241$1,035,778$931,641$1,411,444
61$1,550,846$1,030,395$906,715$1,473,740
62$1,651,128$1,022,980$879,186$1,540,959
63$1,759,815$1,013,378$848,911$1,613,600
64$1,877,707$1,001,424$815,740$1,692,213
65$2,005,683$986,944$779,517$1,777,402
66$2,144,710$969,752$740,078$1,869,839
67$2,295,854$949,652$697,254$1,970,263
68$2,460,284$926,439$650,865$2,079,490
69$2,639,289$899,890$600,725$2,198,423
70$2,834,286$869,774$546,639$2,328,057
71$3,046,835$835,846$488,404$2,469,493
72$3,278,654$797,843$425,806$2,623,942
73$3,531,630$755,491$358,625$2,792,745
74$3,807,844$708,498$286,627$2,977,381
75$4,109,586$656,556$209,570$3,179,482
76$4,439,376$599,340$127,203$3,400,849
77$4,799,989$536,504$39,261$3,643,470
78$5,194,480$467,684$0$3,909,538
79$5,626,213$392,497$0$4,217,202
80$6,098,892$310,535$0$4,566,498
81$6,616,597$221,369$0$4,949,137
82$7,183,820$124,546$0$5,368,461
83$7,805,508$19,588$0$5,828,152
84$8,487,110$0$0$6,332,265
85$9,234,627$0$0$6,890,442
86$10,054,668$0$0$7,504,015
87$10,954,513$0$0$8,177,361
88$11,942,183$0$0$8,916,488
89$13,026,509$0$0$9,728,015
90$14,217,223$0$0$10,619,232
91$15,525,043$0$0$11,598,171
92$16,961,777$0$0$12,673,678
93$18,540,432$0$0$13,855,500
94$20,275,341$0$0$15,154,375
95$22,182,289$0$0$16,582,133
96$24,278,670$0$0$18,151,805
97$26,583,646$0$0$19,877,749
98$29,118,329$0$0$21,775,786
99$31,905,979$0$0$23,863,343
100$34,972,223$0$0$26,159,623