Can I retire at age 55 with 993,000?

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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$82,001$81,271$80,558$79,862$79,183$77,113
2 years$40,595$39,839$39,106$38,395$37,706$35,634
3 years$26,794$26,035$25,304$24,600$23,922$21,914
4 years$19,895$19,138$18,415$17,723$17,062$15,132
5 years$15,757$15,005$14,291$13,613$12,970$11,125
6 years$12,999$12,253$11,549$10,886$10,263$8,503
7 years$11,030$10,290$9,597$8,950$8,346$6,673
8 years$9,554$8,820$8,139$7,508$6,924$5,336
9 years$8,406$7,680$7,010$6,395$5,831$4,327
10 years$7,489$6,769$6,112$5,513$4,968$3,546
11 years$6,739$6,026$5,381$4,798$4,273$2,931
12 years$6,114$5,409$4,775$4,208$3,703$2,438
13 years$5,586$4,888$4,266$3,715$3,229$2,039
14 years$5,133$4,443$3,833$3,298$2,831$1,713
15 years$4,742$4,059$3,461$2,941$2,492$1,444
16 years$4,399$3,724$3,138$2,634$2,203$1,221
17 years$4,098$3,429$2,855$2,366$1,953$1,035
18 years$3,830$3,169$2,607$2,132$1,737$879
19 years$3,590$2,937$2,386$1,927$1,548$748
20 years$3,375$2,729$2,190$1,745$1,383$637
21 years$3,180$2,542$2,014$1,584$1,237$544
22 years$3,004$2,373$1,857$1,440$1,109$464
23 years$2,843$2,219$1,714$1,312$995$397
24 years$2,695$2,079$1,585$1,196$895$339
25 years$2,560$1,951$1,468$1,092$805$290
26 years$2,435$1,834$1,362$999$725$249
27 years$2,320$1,726$1,265$914$654$213
28 years$2,213$1,626$1,176$838$590$183
29 years$2,114$1,534$1,094$768$533$157
30 years$2,021$1,449$1,019$705$481$134
31 years$1,935$1,370$950$647$435$115
32 years$1,854$1,296$886$595$394$99
33 years$1,778$1,227$828$547$356$85
34 years$1,707$1,163$773$503$323$73
35 years$1,640$1,103$723$463$292$62
36 years$1,577$1,047$676$427$265$54
37 years$1,518$995$633$393$240$46
38 years$1,461$945$593$362$218$40
39 years$1,408$899$555$334$197$34
40 years$1,358$855$521$308$179$29
41 years$1,310$814$488$284$162$25
42 years$1,264$775$458$262$147$22
43 years$1,221$739$430$242$134$18
44 years$1,180$704$403$224$121$16
45 years$1,141$671$379$207$110$14
46 years$1,103$641$356$191$100$12
47 years$1,067$611$334$176$91$10
48 years$1,033$584$314$163$82$9
49 years$1,001$557$295$151$75$7
50 years$970$532$277$139$68$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $993,000, adding $3,520 every year, while hoping to spend $30,972 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: 29/49/22 Blend
54$993,000$993,000$993,000$993,000
55$1,097,917$1,045,288$1,029,896$1,122,107
56$1,176,950$1,063,553$1,031,444$1,159,335
57$1,263,007$1,081,675$1,032,005$1,196,343
58$1,356,771$1,099,614$1,031,515$1,235,483
59$1,458,995$1,117,328$1,029,903$1,276,957
60$1,570,506$1,134,771$1,027,098$1,320,991
61$1,692,216$1,151,893$1,023,025$1,367,834
62$1,825,128$1,168,642$1,017,602$1,417,760
63$1,970,347$1,184,961$1,010,748$1,471,075
64$2,129,088$1,200,790$1,002,374$1,528,116
65$2,302,691$1,216,065$992,389$1,589,258
66$2,492,629$1,230,715$980,697$1,654,915
67$2,700,525$1,244,668$967,199$1,725,543
68$2,928,166$1,257,845$951,788$1,801,651
69$3,177,521$1,270,161$934,354$1,883,798
70$3,450,756$1,281,527$914,783$1,972,606
71$3,750,259$1,291,848$892,954$2,068,760
72$4,078,658$1,301,021$868,741$2,173,021
73$4,438,849$1,308,939$842,012$2,286,227
74$4,834,021$1,315,486$812,628$2,409,307
75$5,267,686$1,320,540$780,446$2,543,289
76$5,743,713$1,323,970$745,315$2,689,307
77$6,266,366$1,325,638$707,076$2,848,617
78$6,840,338$1,325,397$665,566$3,022,606
79$7,470,801$1,323,090$620,611$3,212,808
80$8,163,453$1,318,552$572,032$3,420,917
81$8,924,570$1,311,606$519,640$3,648,805
82$9,761,068$1,302,066$463,240$3,898,543
83$10,680,563$1,289,734$402,624$4,172,416
84$11,691,448$1,274,399$337,580$4,472,950
85$12,802,971$1,255,838$267,884$4,802,934
86$14,025,316$1,233,817$193,300$5,165,449
87$15,369,709$1,208,085$113,587$5,563,900
88$16,848,515$1,178,376$28,487$6,002,043
89$18,475,359$1,144,412$0$6,484,028
90$20,265,252$1,105,895$0$7,029,069
91$22,234,734$1,062,510$0$7,635,680
92$24,402,030$1,013,926$0$8,302,820
93$26,787,220$959,792$0$9,036,726
94$29,412,429$899,734$0$9,844,276
95$32,302,036$833,360$0$10,733,058
96$35,482,903$760,255$0$11,711,444
97$38,984,630$679,978$0$12,788,666
98$42,839,831$592,065$0$13,974,907
99$47,084,444$496,026$0$15,281,399
100$51,758,067$391,342$0$16,720,532