Can I retire at age 55 with 992,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $992,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$81,918$81,189$80,477$79,782$79,103$76,025
2 years$40,554$39,798$39,066$38,357$37,668$34,604
3 years$26,767$26,009$25,279$24,576$23,898$20,945
4 years$19,875$19,119$18,396$17,705$17,044$14,224
5 years$15,741$14,990$14,276$13,599$12,957$10,277
6 years$12,986$12,240$11,537$10,876$10,252$7,714
7 years$11,019$10,279$9,588$8,941$8,338$5,941
8 years$9,544$8,811$8,131$7,501$6,917$4,659
9 years$8,398$7,672$7,003$6,389$5,825$3,703
10 years$7,481$6,762$6,106$5,507$4,963$2,972
11 years$6,732$6,020$5,375$4,793$4,269$2,405
12 years$6,108$5,403$4,770$4,204$3,699$1,957
13 years$5,580$4,883$4,262$3,712$3,226$1,601
14 years$5,128$4,439$3,829$3,295$2,828$1,314
15 years$4,737$4,055$3,458$2,938$2,490$1,082
16 years$4,395$3,720$3,135$2,631$2,200$893
17 years$4,093$3,426$2,852$2,364$1,951$739
18 years$3,826$3,166$2,604$2,130$1,735$613
19 years$3,587$2,934$2,384$1,925$1,546$508
20 years$3,371$2,726$2,188$1,743$1,381$422
21 years$3,177$2,540$2,012$1,582$1,236$351
22 years$3,001$2,371$1,855$1,439$1,108$292
23 years$2,840$2,217$1,712$1,310$994$243
24 years$2,693$2,077$1,584$1,195$894$203
25 years$2,558$1,950$1,467$1,091$804$169
26 years$2,433$1,832$1,360$998$725$141
27 years$2,318$1,724$1,263$913$653$118
28 years$2,211$1,625$1,174$837$589$98
29 years$2,112$1,533$1,093$767$532$82
30 years$2,019$1,448$1,018$704$481$68
31 years$1,933$1,368$949$647$435$57
32 years$1,852$1,295$885$594$393$48
33 years$1,777$1,226$827$547$356$40
34 years$1,705$1,162$772$503$322$33
35 years$1,639$1,102$722$463$292$28
36 years$1,576$1,046$676$426$264$23
37 years$1,516$994$632$393$240$19
38 years$1,460$944$592$362$217$16
39 years$1,407$898$555$334$197$13
40 years$1,356$854$520$308$179$11
41 years$1,308$813$488$284$162$9
42 years$1,263$775$457$262$147$8
43 years$1,220$738$429$242$134$7
44 years$1,179$703$403$224$121$5
45 years$1,139$671$378$206$110$5
46 years$1,102$640$355$191$100$4
47 years$1,066$611$334$176$91$3
48 years$1,032$583$314$163$82$3
49 years$1,000$557$295$150$75$2
50 years$969$532$277$139$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $992,000, adding $3,848 every year, while hoping to spend $34,665 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: 63/15/22 Blend
54$992,000$992,000$992,000$992,000
55$1,097,153$1,044,577$1,029,201$1,159,770
56$1,172,180$1,058,878$1,026,796$1,216,788
57$1,253,697$1,072,718$1,023,149$1,274,822
58$1,342,330$1,086,038$1,018,181$1,337,417
59$1,438,768$1,098,774$1,011,810$1,405,024
60$1,543,768$1,110,859$1,003,951$1,478,136
61$1,658,162$1,122,221$994,513$1,557,301
62$1,782,868$1,132,783$983,402$1,643,122
63$1,918,894$1,142,463$970,520$1,736,264
64$2,067,351$1,151,174$955,763$1,837,462
65$2,229,463$1,158,823$939,022$1,947,524
66$2,406,573$1,165,310$920,185$2,067,344
67$2,600,164$1,170,532$899,132$2,197,906
68$2,811,868$1,174,375$875,740$2,340,299
69$3,043,480$1,176,720$849,878$2,495,720
70$3,296,977$1,177,442$821,412$2,665,491
71$3,574,538$1,176,405$790,198$2,851,072
72$3,878,560$1,173,468$756,088$3,054,070
73$4,211,683$1,168,479$718,928$3,276,261
74$4,576,817$1,161,276$678,554$3,519,602
75$4,977,164$1,151,691$634,797$3,786,250
76$5,416,252$1,139,541$587,480$4,078,586
77$5,897,967$1,124,635$536,418$4,399,236
78$6,426,588$1,106,771$481,416$4,751,096
79$7,006,830$1,085,733$422,274$5,137,359
80$7,643,886$1,061,293$358,779$5,561,546
81$8,343,475$1,033,209$290,711$6,027,541
82$9,111,900$1,001,227$217,841$6,539,626
83$9,956,103$965,076$139,927$7,102,524
84$10,883,729$924,468$56,719$7,721,441
85$11,903,205$879,103$0$8,402,120
86$13,023,811$828,658$0$9,158,423
87$14,255,774$772,796$0$10,004,498
88$15,610,358$711,158$0$10,934,782
89$17,099,975$643,366$0$11,957,831
90$18,738,300$569,018$0$13,083,076
91$20,540,399$487,692$0$14,320,910
92$22,522,872$398,942$0$15,682,787
93$24,704,009$302,294$0$17,181,329
94$27,103,961$197,250$0$18,830,448
95$29,744,934$83,283$0$20,645,477
96$32,651,391$0$0$22,643,311
97$35,850,289$0$0$24,849,204
98$39,371,332$0$0$27,292,456
99$43,247,247$0$0$29,982,042
100$47,514,097$0$0$32,942,997