Can I retire at age 55 with 994,000?

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 $994,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$82,084$81,352$80,639$79,943$79,263$78,697
2 years$40,635$39,879$39,145$38,434$37,744$37,174
3 years$26,821$26,061$25,330$24,625$23,947$23,389
4 years$19,915$19,158$18,433$17,741$17,079$16,539
5 years$15,773$15,020$14,305$13,627$12,983$12,462
6 years$13,012$12,265$11,561$10,897$10,273$9,771
7 years$11,041$10,300$9,607$8,959$8,355$7,873
8 years$9,564$8,829$8,147$7,516$6,931$6,469
9 years$8,415$7,687$7,017$6,402$5,837$5,394
10 years$7,496$6,776$6,118$5,518$4,973$4,550
11 years$6,745$6,032$5,386$4,803$4,277$3,873
12 years$6,120$5,414$4,780$4,213$3,707$3,321
13 years$5,591$4,893$4,271$3,719$3,232$2,865
14 years$5,139$4,447$3,837$3,301$2,833$2,484
15 years$4,747$4,063$3,464$2,944$2,495$2,163
16 years$4,404$3,728$3,141$2,636$2,205$1,890
17 years$4,102$3,433$2,858$2,369$1,955$1,656
18 years$3,833$3,172$2,609$2,135$1,738$1,455
19 years$3,594$2,940$2,389$1,929$1,549$1,282
20 years$3,378$2,732$2,192$1,747$1,384$1,131
21 years$3,184$2,545$2,016$1,585$1,238$1,000
22 years$3,007$2,375$1,858$1,442$1,110$885
23 years$2,846$2,222$1,716$1,313$996$784
24 years$2,698$2,082$1,587$1,197$896$696
25 years$2,563$1,953$1,470$1,094$806$618
26 years$2,438$1,836$1,363$1,000$726$549
27 years$2,322$1,728$1,266$915$655$489
28 years$2,215$1,628$1,177$839$591$435
29 years$2,116$1,536$1,095$769$533$388
30 years$2,023$1,451$1,020$706$482$346
31 years$1,937$1,371$951$648$436$308
32 years$1,856$1,297$887$596$394$275
33 years$1,780$1,229$828$548$357$245
34 years$1,709$1,165$774$504$323$219
35 years$1,642$1,105$724$464$292$196
36 years$1,579$1,048$677$427$265$175
37 years$1,519$996$634$394$240$156
38 years$1,463$946$593$363$218$140
39 years$1,409$900$556$335$197$125
40 years$1,359$856$521$309$179$111
41 years$1,311$815$489$285$162$100
42 years$1,266$776$458$263$147$89
43 years$1,222$739$430$243$134$80
44 years$1,181$705$404$224$121$71
45 years$1,142$672$379$207$110$64
46 years$1,104$641$356$191$100$57
47 years$1,069$612$334$177$91$51
48 years$1,034$584$314$163$83$46
49 years$1,002$558$295$151$75$41
50 years$970$533$278$139$68$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $994,000, adding $3,875 every year, while hoping to spend $31,005 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: 73/14/13 Blend
54$994,000$994,000$994,000$994,000
55$1,099,385$1,046,703$1,031,296$1,176,347
56$1,178,533$1,065,002$1,032,855$1,246,085
57$1,264,715$1,083,159$1,033,428$1,318,247
58$1,358,616$1,101,134$1,032,948$1,396,454
59$1,460,989$1,118,884$1,031,345$1,481,295
60$1,572,664$1,136,363$1,028,549$1,573,422
61$1,694,553$1,153,522$1,024,483$1,673,551
62$1,827,661$1,170,308$1,019,067$1,782,473
63$1,973,095$1,186,666$1,012,218$1,901,058
64$2,132,072$1,202,533$1,003,848$2,030,265
65$2,305,932$1,217,847$993,867$2,171,151
66$2,496,153$1,232,537$982,177$2,324,880
67$2,704,359$1,246,530$968,678$2,492,736
68$2,932,341$1,259,746$953,266$2,676,134
69$3,182,069$1,272,103$935,829$2,876,631
70$3,455,714$1,283,510$916,254$3,095,946
71$3,755,666$1,293,872$894,418$3,335,971
72$4,084,559$1,303,087$870,196$3,598,793
73$4,445,293$1,311,047$843,456$3,886,711
74$4,841,060$1,317,636$814,059$4,202,260
75$5,275,380$1,322,731$781,862$4,548,231
76$5,752,127$1,326,204$746,713$4,927,703
77$6,275,570$1,327,914$708,454$5,344,068
78$6,850,412$1,327,715$666,920$5,801,066
79$7,481,831$1,325,450$621,939$6,302,818
80$8,175,534$1,320,953$573,331$6,853,865
81$8,937,807$1,314,049$520,906$7,459,213
82$9,775,576$1,304,550$464,469$8,124,380
83$10,696,470$1,292,258$403,814$8,855,448
84$11,708,895$1,276,963$338,726$9,659,117
85$12,822,110$1,258,443$268,982$10,542,776
86$14,046,319$1,236,460$194,346$11,514,566
87$15,392,762$1,210,765$114,576$12,583,460
88$16,873,825$1,181,094$29,415$13,759,349
89$18,503,152$1,147,165$0$15,053,134
90$20,295,779$1,108,681$0$16,485,354
91$22,268,272$1,065,329$0$18,065,633
92$24,438,881$1,016,777$0$19,804,521
93$26,827,719$962,671$0$21,718,146
94$29,456,945$902,640$0$23,824,277
95$32,350,975$836,291$0$26,142,500
96$35,536,713$763,208$0$28,694,396
97$39,043,803$682,950$0$31,503,749
98$42,904,910$595,054$0$34,596,766
99$47,156,028$499,028$0$38,002,331
100$51,836,816$394,354$0$41,752,274