Can I retire at age 55 with 989,000?

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 $989,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$81,671$80,943$80,233$79,541$78,864$77,209
2 years$40,431$39,678$38,948$38,241$37,554$35,894
3 years$26,686$25,930$25,202$24,501$23,826$22,213
4 years$19,815$19,061$18,341$17,652$16,993$15,440
5 years$15,694$14,944$14,233$13,558$12,918$11,429
6 years$12,947$12,203$11,502$10,843$10,221$8,798
7 years$10,986$10,248$9,559$8,914$8,313$6,955
8 years$9,515$8,785$8,106$7,478$6,896$5,604
9 years$8,373$7,649$6,982$6,370$5,808$4,580
10 years$7,459$6,742$6,087$5,491$4,948$3,784
11 years$6,712$6,002$5,359$4,779$4,256$3,153
12 years$6,089$5,387$4,756$4,191$3,688$2,646
13 years$5,563$4,868$4,249$3,700$3,216$2,232
14 years$5,113$4,425$3,818$3,285$2,819$1,892
15 years$4,723$4,042$3,447$2,929$2,482$1,609
16 years$4,382$3,709$3,125$2,623$2,194$1,373
17 years$4,081$3,416$2,844$2,357$1,945$1,175
18 years$3,814$3,156$2,596$2,124$1,730$1,008
19 years$3,576$2,925$2,377$1,919$1,542$866
20 years$3,361$2,718$2,181$1,738$1,377$745
21 years$3,168$2,532$2,006$1,577$1,232$642
22 years$2,992$2,363$1,849$1,434$1,104$554
23 years$2,831$2,210$1,707$1,306$991$478
24 years$2,685$2,071$1,579$1,191$891$413
25 years$2,550$1,944$1,462$1,088$802$357
26 years$2,426$1,827$1,356$995$722$309
27 years$2,311$1,719$1,259$911$651$268
28 years$2,204$1,620$1,171$834$588$232
29 years$2,105$1,528$1,090$765$531$201
30 years$2,013$1,443$1,015$702$479$174
31 years$1,927$1,364$946$645$433$151
32 years$1,847$1,291$883$593$392$131
33 years$1,771$1,223$824$545$355$114
34 years$1,700$1,159$770$501$321$99
35 years$1,634$1,099$720$462$291$86
36 years$1,571$1,043$674$425$264$74
37 years$1,511$991$630$392$239$64
38 years$1,455$942$590$361$217$56
39 years$1,402$895$553$333$196$49
40 years$1,352$852$518$307$178$42
41 years$1,304$811$486$283$162$37
42 years$1,259$772$456$261$147$32
43 years$1,216$736$428$241$133$28
44 years$1,175$701$402$223$121$24
45 years$1,136$669$377$206$110$21
46 years$1,099$638$354$190$100$18
47 years$1,063$609$333$176$90$16
48 years$1,029$581$313$162$82$14
49 years$997$555$294$150$75$12
50 years$966$530$276$139$68$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $989,000, adding $5,553 every year, while hoping to spend $35,868 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: 54/31/15 Blend
54$989,000$989,000$989,000$989,000
55$1,095,606$1,043,189$1,027,859$1,150,120
56$1,169,194$1,056,142$1,024,129$1,200,850
57$1,249,087$1,068,527$1,019,072$1,251,727
58$1,335,888$1,080,280$1,012,606$1,306,293
59$1,430,264$1,091,329$1,004,644$1,364,910
60$1,532,948$1,101,600$995,095$1,427,974
61$1,644,743$1,111,014$983,866$1,495,924
62$1,766,539$1,119,485$970,857$1,569,246
63$1,899,309$1,126,923$955,964$1,648,474
64$2,044,128$1,133,232$939,079$1,734,199
65$2,202,179$1,138,310$920,087$1,827,075
66$2,374,761$1,142,047$898,870$1,927,820
67$2,563,307$1,144,328$875,303$2,037,232
68$2,769,394$1,145,030$849,255$2,156,188
69$2,994,758$1,144,022$820,591$2,285,657
70$3,241,310$1,141,165$789,167$2,426,711
71$3,511,154$1,136,313$754,835$2,580,529
72$3,806,608$1,129,309$717,438$2,748,417
73$4,130,224$1,119,987$676,815$2,931,814
74$4,484,812$1,108,172$632,793$3,132,309
75$4,873,467$1,093,676$585,196$3,351,655
76$5,299,598$1,076,304$533,837$3,591,789
77$5,766,959$1,055,845$478,523$3,854,847
78$6,279,685$1,032,077$419,050$4,143,184
79$6,842,331$1,004,767$355,206$4,459,404
80$7,459,913$973,665$286,770$4,806,377
81$8,137,958$938,509$213,510$5,187,269
82$8,882,554$899,019$135,187$5,605,575
83$9,700,405$854,902$51,547$6,065,153
84$10,598,901$805,846$0$6,570,255
85$11,586,178$751,522$0$7,131,610
86$12,671,202$691,581$0$7,757,559
87$13,863,850$625,654$0$8,445,598
88$15,175,005$553,353$0$9,202,078
89$16,616,654$474,266$0$10,033,997
90$18,202,006$387,958$0$10,949,075
91$19,945,613$293,970$0$11,955,822
92$21,863,508$191,818$0$13,063,621
93$23,973,358$80,989$0$14,282,817
94$26,294,625$0$0$15,624,816
95$28,848,754$0$0$17,115,518
96$31,659,375$0$0$18,786,431
97$34,752,524$0$0$20,625,419
98$38,156,885$0$0$22,649,550
99$41,904,070$0$0$24,877,634
100$46,028,905$0$0$27,330,394