Can I retire at age 55 with 985,000?

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 $985,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$81,340$80,616$79,909$79,219$78,545$76,368
2 years$40,268$39,518$38,791$38,086$37,403$35,225
3 years$26,578$25,825$25,100$24,402$23,730$21,620
4 years$19,735$18,984$18,267$17,580$16,924$14,899
5 years$15,630$14,884$14,176$13,503$12,866$10,930
6 years$12,895$12,154$11,456$10,799$10,180$8,337
7 years$10,941$10,207$9,520$8,878$8,279$6,527
8 years$9,477$8,749$8,074$7,448$6,868$5,207
9 years$8,339$7,618$6,954$6,344$5,784$4,213
10 years$7,429$6,715$6,063$5,468$4,928$3,444
11 years$6,684$5,978$5,337$4,759$4,239$2,839
12 years$6,065$5,365$4,737$4,174$3,673$2,356
13 years$5,541$4,849$4,232$3,685$3,203$1,965
14 years$5,092$4,407$3,802$3,271$2,808$1,646
15 years$4,704$4,026$3,433$2,918$2,472$1,384
16 years$4,364$3,694$3,113$2,612$2,185$1,167
17 years$4,065$3,402$2,832$2,347$1,937$986
18 years$3,799$3,143$2,586$2,115$1,723$835
19 years$3,561$2,913$2,367$1,911$1,535$708
20 years$3,348$2,707$2,172$1,731$1,371$602
21 years$3,155$2,522$1,998$1,571$1,227$512
22 years$2,980$2,354$1,842$1,428$1,100$435
23 years$2,820$2,202$1,700$1,301$987$371
24 years$2,674$2,063$1,573$1,187$888$316
25 years$2,539$1,936$1,456$1,084$799$270
26 years$2,416$1,819$1,351$991$719$230
27 years$2,301$1,712$1,254$907$649$197
28 years$2,195$1,613$1,166$831$585$168
29 years$2,097$1,522$1,085$762$528$144
30 years$2,005$1,437$1,011$699$477$123
31 years$1,919$1,359$942$642$432$105
32 years$1,839$1,286$879$590$391$90
33 years$1,764$1,218$821$543$353$77
34 years$1,693$1,154$767$499$320$66
35 years$1,627$1,095$717$460$290$56
36 years$1,564$1,039$671$423$263$48
37 years$1,505$987$628$390$238$41
38 years$1,450$938$588$360$216$35
39 years$1,397$892$551$332$196$30
40 years$1,347$848$516$306$177$26
41 years$1,299$808$484$282$161$22
42 years$1,254$769$454$260$146$19
43 years$1,211$733$426$240$133$16
44 years$1,170$698$400$222$120$14
45 years$1,131$666$376$205$109$12
46 years$1,094$635$353$189$99$10
47 years$1,059$606$331$175$90$9
48 years$1,025$579$311$162$82$7
49 years$993$553$293$149$74$6
50 years$962$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 $985,000, adding $6,010 every year, while hoping to spend $52,228 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: 26/48/26 Blend
54$985,000$985,000$985,000$985,000
55$1,091,669$1,039,464$1,024,197$1,111,024
56$1,147,449$1,034,828$1,002,937$1,122,588
57$1,207,169$1,028,214$979,215$1,130,097
58$1,271,174$1,019,470$952,892$1,137,066
59$1,339,845$1,008,435$923,826$1,143,484
60$1,413,599$994,939$891,864$1,149,345
61$1,492,894$978,799$856,850$1,154,646
62$1,578,234$959,825$818,619$1,159,390
63$1,670,170$937,812$776,998$1,163,588
64$1,769,308$912,546$731,809$1,167,256
65$1,876,315$883,798$682,862$1,170,420
66$1,991,923$851,328$629,961$1,173,115
67$2,116,936$814,880$572,902$1,175,389
68$2,252,237$774,183$511,468$1,177,301
69$2,398,800$728,953$445,437$1,178,926
70$2,557,693$678,887$374,575$1,180,355
71$2,730,091$623,665$298,636$1,181,698
72$2,917,285$562,950$217,365$1,183,088
73$3,120,699$496,385$130,497$1,184,680
74$3,341,895$423,592$37,754$1,186,657
75$3,582,593$344,174$0$1,189,235
76$3,844,688$257,708$0$1,209,646
77$4,130,261$163,751$0$1,243,476
78$4,441,605$61,833$0$1,280,659
79$4,781,244$0$0$1,321,669
80$5,151,953$0$0$1,392,676
81$5,556,789$0$0$1,506,041
82$5,999,118$0$0$1,630,065
83$6,482,644$0$0$1,765,808
84$7,011,446$0$0$1,914,435
85$7,590,014$0$0$2,077,230
86$8,223,292$0$0$2,255,607
87$8,916,727$0$0$2,451,123
88$9,676,314$0$0$2,665,493
89$10,508,657$0$0$2,900,607
90$11,421,027$0$0$3,158,543
91$12,421,434$0$0$3,441,595
92$13,518,700$0$0$3,752,286
93$14,722,540$0$0$4,093,396
94$16,043,658$0$0$4,467,988
95$17,493,842$0$0$4,879,436
96$19,086,077$0$0$5,331,457
97$20,834,667$0$0$5,828,145
98$22,755,371$0$0$6,374,010
99$24,865,547$0$0$6,974,023
100$27,184,318$0$0$7,633,659