Can I retire at age 55 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$81,506$80,780$80,071$79,380$78,705$77,179
2 years$40,349$39,598$38,870$38,163$37,478$35,947
3 years$26,632$25,878$25,151$24,452$23,778$22,289
4 years$19,775$19,023$18,304$17,616$16,959$15,524
5 years$15,662$14,914$14,204$13,531$12,892$11,515
6 years$12,921$12,178$11,479$10,821$10,201$8,884
7 years$10,963$10,227$9,539$8,896$8,296$7,039
8 years$9,496$8,767$8,090$7,463$6,882$5,685
9 years$8,356$7,633$6,968$6,357$5,796$4,657
10 years$7,444$6,728$6,075$5,480$4,938$3,857
11 years$6,698$5,990$5,348$4,769$4,247$3,223
12 years$6,077$5,376$4,746$4,183$3,680$2,711
13 years$5,552$4,858$4,241$3,693$3,209$2,293
14 years$5,102$4,416$3,810$3,278$2,813$1,949
15 years$4,713$4,034$3,440$2,924$2,477$1,662
16 years$4,373$3,701$3,119$2,618$2,189$1,423
17 years$4,073$3,409$2,838$2,352$1,941$1,221
18 years$3,806$3,150$2,591$2,120$1,726$1,050
19 years$3,568$2,919$2,372$1,915$1,538$905
20 years$3,355$2,713$2,177$1,735$1,374$781
21 years$3,161$2,527$2,002$1,574$1,230$675
22 years$2,986$2,359$1,845$1,431$1,102$584
23 years$2,826$2,206$1,704$1,304$989$506
24 years$2,679$2,067$1,576$1,189$889$438
25 years$2,545$1,940$1,459$1,086$800$380
26 years$2,421$1,823$1,354$993$721$330
27 years$2,306$1,716$1,257$909$650$287
28 years$2,200$1,617$1,168$833$586$249
29 years$2,101$1,525$1,087$764$530$217
30 years$2,009$1,440$1,013$701$478$188
31 years$1,923$1,362$944$644$433$164
32 years$1,843$1,288$881$591$391$143
33 years$1,768$1,220$823$544$354$124
34 years$1,697$1,156$769$500$321$108
35 years$1,630$1,097$719$461$290$94
36 years$1,568$1,041$672$424$263$82
37 years$1,508$989$629$391$238$71
38 years$1,452$940$589$360$216$62
39 years$1,400$893$552$332$196$54
40 years$1,349$850$517$306$178$47
41 years$1,302$809$485$283$161$41
42 years$1,257$771$455$261$146$36
43 years$1,214$734$427$241$133$31
44 years$1,173$700$401$222$121$27
45 years$1,134$667$376$205$109$24
46 years$1,097$637$354$190$99$21
47 years$1,061$608$332$175$90$18
48 years$1,027$580$312$162$82$16
49 years$995$554$293$150$74$14
50 years$964$529$276$138$68$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $987,000, adding $2,168 every year, while hoping to spend $57,039 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: 52/37/11 Blend
54$987,000$987,000$987,000$987,000
55$1,089,910$1,037,599$1,022,301$1,143,338
56$1,140,392$1,027,753$995,859$1,170,149
57$1,194,111$1,015,512$966,619$1,193,000
58$1,251,338$1,000,699$934,428$1,216,532
59$1,312,368$983,127$899,125$1,240,823
60$1,377,524$962,595$860,541$1,265,962
61$1,447,163$938,893$818,500$1,292,051
62$1,521,672$911,797$772,818$1,319,205
63$1,601,479$881,071$723,304$1,347,555
64$1,687,050$846,465$669,755$1,377,249
65$1,778,900$807,712$611,962$1,408,454
66$1,877,591$764,533$549,706$1,441,361
67$1,983,742$716,632$482,758$1,476,182
68$2,098,031$663,695$410,878$1,513,157
69$2,221,204$605,390$333,817$1,552,557
70$2,354,080$541,367$251,312$1,594,686
71$2,497,558$471,255$163,093$1,639,884
72$2,652,626$394,665$68,874$1,688,534
73$2,820,372$311,181$0$1,741,064
74$3,001,989$220,367$0$1,801,672
75$3,198,789$121,763$0$1,876,046
76$3,412,218$14,881$0$1,956,731
77$3,643,861$0$0$2,044,438
78$3,895,465$0$0$2,180,992
79$4,168,950$0$0$2,336,096
80$4,466,430$0$0$2,504,898
81$4,790,228$0$0$2,688,729
82$5,142,903$0$0$2,889,053
83$5,527,269$0$0$3,107,482
84$5,946,424$0$0$3,345,789
85$6,403,777$0$0$3,605,925
86$6,903,080$0$0$3,890,040
87$7,448,465$0$0$4,200,497
88$8,044,479$0$0$4,539,903
89$8,696,130$0$0$4,911,122
90$9,408,928$0$0$5,317,313
91$10,188,945$0$0$5,761,951
92$11,042,863$0$0$6,248,863
93$11,978,042$0$0$6,782,266
94$13,002,587$0$0$7,366,799
95$14,125,423$0$0$8,007,577
96$15,356,380$0$0$8,710,229
97$16,706,286$0$0$9,480,956
98$18,187,063$0$0$10,326,590
99$19,811,847$0$0$11,254,653
100$21,595,104$0$0$12,273,434