Can I retire at age 55 with 997,000?

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 $997,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$82,331$81,598$80,882$80,184$79,502$78,541
2 years$40,758$39,999$39,263$38,550$37,858$36,891
3 years$26,902$26,140$25,406$24,699$24,019$23,076
4 years$19,976$19,216$18,489$17,795$17,130$16,218
5 years$15,821$15,065$14,348$13,668$13,022$12,144
6 years$13,052$12,302$11,596$10,930$10,304$9,461
7 years$11,075$10,331$9,636$8,986$8,380$7,572
8 years$9,592$8,856$8,172$7,538$6,952$6,179
9 years$8,440$7,710$7,039$6,421$5,855$5,117
10 years$7,519$6,796$6,136$5,535$4,988$4,285
11 years$6,766$6,050$5,402$4,817$4,290$3,620
12 years$6,139$5,431$4,794$4,225$3,718$3,081
13 years$5,608$4,908$4,284$3,730$3,242$2,637
14 years$5,154$4,461$3,849$3,311$2,842$2,268
15 years$4,761$4,075$3,475$2,953$2,502$1,959
16 years$4,417$3,739$3,151$2,644$2,211$1,698
17 years$4,114$3,443$2,867$2,376$1,961$1,475
18 years$3,845$3,182$2,617$2,141$1,744$1,286
19 years$3,605$2,949$2,396$1,935$1,554$1,122
20 years$3,388$2,740$2,199$1,752$1,388$982
21 years$3,193$2,552$2,022$1,590$1,242$860
22 years$3,016$2,383$1,864$1,446$1,113$754
23 years$2,854$2,228$1,721$1,317$999$663
24 years$2,706$2,088$1,592$1,201$898$583
25 years$2,570$1,959$1,474$1,097$808$513
26 years$2,445$1,841$1,367$1,003$728$451
27 years$2,329$1,733$1,270$918$657$398
28 years$2,222$1,633$1,180$841$592$351
29 years$2,122$1,541$1,098$771$535$309
30 years$2,029$1,455$1,023$708$483$273
31 years$1,943$1,375$954$650$437$241
32 years$1,862$1,301$890$597$395$213
33 years$1,785$1,232$831$549$358$188
34 years$1,714$1,168$776$505$324$166
35 years$1,647$1,108$726$465$293$147
36 years$1,583$1,052$679$429$266$130
37 years$1,524$999$636$395$241$115
38 years$1,467$949$595$364$218$102
39 years$1,414$903$558$336$198$90
40 years$1,363$859$523$310$180$80
41 years$1,315$817$490$286$163$71
42 years$1,269$778$460$264$148$62
43 years$1,226$742$431$243$134$55
44 years$1,185$707$405$225$122$49
45 years$1,145$674$380$207$111$43
46 years$1,108$643$357$192$100$38
47 years$1,072$614$335$177$91$34
48 years$1,038$586$315$164$83$30
49 years$1,005$560$296$151$75$27
50 years$973$534$279$140$68$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $997,000, adding $3,399 every year, while hoping to spend $58,009 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: 69/17/14 Blend
54$997,000$997,000$997,000$997,000
55$1,102,200$1,049,359$1,033,906$1,174,526
56$1,152,903$1,039,057$1,006,820$1,212,764
57$1,206,834$1,026,305$976,883$1,247,328
58$1,264,260$1,010,923$943,938$1,283,652
59$1,325,476$992,719$907,821$1,321,899
60$1,390,801$971,489$868,359$1,362,253
61$1,460,588$947,018$825,375$1,404,918
62$1,535,224$919,077$778,681$1,450,120
63$1,615,130$887,425$728,080$1,498,109
64$1,700,771$851,807$673,369$1,549,162
65$1,792,656$811,952$614,333$1,603,588
66$1,891,343$767,574$550,749$1,661,728
67$1,997,445$718,370$482,384$1,723,961
68$2,111,635$664,020$408,994$1,790,705
69$2,234,651$604,186$330,325$1,862,427
70$2,367,305$538,511$246,110$1,939,640
71$2,510,488$466,616$156,073$2,022,916
72$2,665,181$388,103$59,924$2,112,886
73$2,832,458$302,549$0$2,210,250
74$3,013,504$209,509$0$2,322,159
75$3,209,619$108,513$0$2,453,062
76$3,422,233$0$0$2,594,996
77$3,652,918$0$0$2,749,239
78$3,903,404$0$0$2,938,810
79$4,175,593$0$0$3,144,855
80$4,471,578$0$0$3,368,966
81$4,793,660$0$0$3,612,890
82$5,144,374$0$0$3,878,554
83$5,526,505$0$0$4,168,075
84$5,943,122$0$0$4,483,787
85$6,397,601$0$0$4,828,253
86$6,893,658$0$0$5,204,299
87$7,435,382$0$0$5,615,035
88$8,027,278$0$0$6,063,882
89$8,674,302$0$0$6,554,609
90$9,381,912$0$0$7,091,365
91$10,156,117$0$0$7,678,718
92$11,003,534$0$0$8,321,697
93$11,931,450$0$0$9,025,843
94$12,947,889$0$0$9,797,255
95$14,061,686$0$0$10,642,651
96$15,282,574$0$0$11,569,428
97$16,621,270$0$0$12,585,734
98$18,089,579$0$0$13,700,546
99$19,700,503$0$0$14,923,746
100$21,468,364$0$0$16,266,224