Can I retire at age 55 with 988,000?

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 $988,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$81,588$80,861$80,152$79,460$78,785$75,989
2 years$40,390$39,638$38,909$38,202$37,516$34,730
3 years$26,659$25,904$25,177$24,476$23,802$21,112
4 years$19,795$19,042$18,322$17,634$16,976$14,403
5 years$15,678$14,929$14,219$13,545$12,905$10,455
6 years$12,934$12,191$11,491$10,832$10,211$7,887
7 years$10,975$10,238$9,549$8,905$8,304$6,106
8 years$9,506$8,776$8,098$7,470$6,889$4,814
9 years$8,364$7,641$6,975$6,363$5,802$3,847
10 years$7,451$6,735$6,081$5,485$4,943$3,106
11 years$6,705$5,996$5,354$4,774$4,251$2,527
12 years$6,083$5,382$4,751$4,187$3,684$2,070
13 years$5,558$4,863$4,245$3,697$3,213$1,703
14 years$5,108$4,421$3,814$3,281$2,816$1,407
15 years$4,718$4,038$3,444$2,926$2,480$1,166
16 years$4,377$3,705$3,122$2,620$2,192$969
17 years$4,077$3,412$2,841$2,354$1,943$807
18 years$3,810$3,153$2,593$2,122$1,728$673
19 years$3,572$2,922$2,374$1,917$1,540$563
20 years$3,358$2,715$2,179$1,736$1,376$471
21 years$3,164$2,529$2,004$1,576$1,231$394
22 years$2,989$2,361$1,847$1,433$1,103$330
23 years$2,829$2,208$1,706$1,305$990$277
24 years$2,682$2,069$1,577$1,190$890$232
25 years$2,547$1,942$1,461$1,087$801$195
26 years$2,423$1,825$1,355$994$722$164
27 years$2,308$1,717$1,258$910$651$138
28 years$2,202$1,618$1,170$833$587$116
29 years$2,103$1,527$1,088$764$530$97
30 years$2,011$1,442$1,014$701$479$82
31 years$1,925$1,363$945$644$433$69
32 years$1,845$1,290$882$592$392$58
33 years$1,769$1,221$823$544$354$49
34 years$1,699$1,158$769$501$321$41
35 years$1,632$1,098$719$461$291$34
36 years$1,569$1,042$673$425$263$29
37 years$1,510$990$630$391$239$24
38 years$1,454$941$590$361$216$21
39 years$1,401$894$553$333$196$17
40 years$1,351$851$518$307$178$15
41 years$1,303$810$486$283$161$12
42 years$1,258$771$456$261$147$10
43 years$1,215$735$427$241$133$9
44 years$1,174$701$401$223$121$7
45 years$1,135$668$377$206$110$6
46 years$1,098$637$354$190$100$5
47 years$1,062$608$332$175$90$4
48 years$1,028$581$312$162$82$4
49 years$996$554$294$150$75$3
50 years$965$530$276$138$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $988,000, adding $2,789 every year, while hoping to spend $40,286 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: 66/7/27 Blend
54$988,000$988,000$988,000$988,000
55$1,091,653$1,039,289$1,023,975$1,155,801
56$1,160,137$1,047,350$1,015,414$1,207,465
57$1,234,257$1,054,456$1,005,216$1,259,157
58$1,314,545$1,060,517$993,284$1,314,778
59$1,401,585$1,065,439$979,515$1,374,718
60$1,496,021$1,069,120$963,804$1,439,408
61$1,598,561$1,071,453$946,037$1,509,323
62$1,709,983$1,072,324$926,099$1,584,989
63$1,831,145$1,071,610$903,866$1,666,985
64$1,962,987$1,069,185$879,211$1,755,953
65$2,106,546$1,064,910$851,999$1,852,597
66$2,262,964$1,058,640$822,091$1,957,699
67$2,433,495$1,050,222$789,340$2,072,120
68$2,619,521$1,039,493$753,592$2,196,809
69$2,822,563$1,026,278$714,688$2,332,815
70$3,044,294$1,010,396$672,460$2,481,296
71$3,286,557$991,651$626,733$2,643,529
72$3,551,382$969,837$577,324$2,820,924
73$3,841,001$944,737$524,043$3,015,035
74$4,157,873$916,119$466,688$3,227,579
75$4,504,706$883,740$405,053$3,460,450
76$4,884,483$847,340$338,918$3,715,736
77$5,300,486$806,645$268,058$3,995,742
78$5,756,332$761,367$192,234$4,303,011
79$6,256,002$711,199$111,199$4,640,349
80$6,803,884$655,817$24,693$5,010,848
81$7,404,807$594,879$0$5,417,923
82$8,064,093$528,023$0$5,884,820
83$8,787,601$454,867$0$6,405,068
84$9,581,788$375,007$0$6,976,210
85$10,453,765$288,017$0$7,603,387
86$11,411,364$193,445$0$8,292,262
87$12,463,214$90,815$0$9,049,076
88$13,618,822$0$0$9,880,704
89$14,888,659$0$0$10,796,294
90$16,284,263$0$0$11,810,319
91$17,818,342$0$0$12,925,029
92$19,504,899$0$0$14,150,606
93$21,359,361$0$0$15,498,269
94$23,398,725$0$0$16,980,379
95$25,641,716$0$0$18,610,555
96$28,108,966$0$0$20,403,801
97$30,823,208$0$0$22,376,650
98$33,809,486$0$0$24,547,317
99$37,095,398$0$0$26,935,872
100$40,711,349$0$0$29,564,428