Can I retire at age 55 with 998,000?

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 $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$82,414$81,680$80,964$80,265$79,582$78,490
2 years$40,799$40,039$39,303$38,589$37,896$36,798
3 years$26,929$26,166$25,431$24,724$24,043$22,973
4 years$19,996$19,235$18,508$17,812$17,148$16,113
5 years$15,837$15,080$14,363$13,682$13,035$12,040
6 years$13,065$12,314$11,607$10,941$10,314$9,360
7 years$11,086$10,341$9,646$8,995$8,388$7,474
8 years$9,602$8,865$8,180$7,546$6,959$6,085
9 years$8,449$7,718$7,046$6,428$5,860$5,027
10 years$7,527$6,803$6,143$5,541$4,993$4,200
11 years$6,773$6,056$5,408$4,822$4,294$3,539
12 years$6,145$5,436$4,799$4,230$3,722$3,004
13 years$5,614$4,913$4,288$3,734$3,245$2,565
14 years$5,159$4,465$3,853$3,315$2,845$2,200
15 years$4,766$4,079$3,478$2,956$2,505$1,895
16 years$4,422$3,743$3,154$2,647$2,214$1,638
17 years$4,118$3,447$2,870$2,378$1,963$1,419
18 years$3,849$3,185$2,620$2,143$1,745$1,233
19 years$3,608$2,952$2,398$1,937$1,556$1,074
20 years$3,392$2,743$2,201$1,754$1,389$936
21 years$3,196$2,555$2,024$1,592$1,243$818
22 years$3,019$2,385$1,866$1,447$1,115$715
23 years$2,857$2,231$1,723$1,318$1,000$626
24 years$2,709$2,090$1,593$1,202$899$549
25 years$2,573$1,961$1,476$1,098$809$481
26 years$2,448$1,843$1,369$1,004$729$423
27 years$2,332$1,735$1,271$919$657$371
28 years$2,224$1,635$1,181$842$593$326
29 years$2,124$1,542$1,099$772$535$287
30 years$2,031$1,456$1,024$709$484$252
31 years$1,945$1,377$955$651$437$222
32 years$1,863$1,303$891$598$396$196
33 years$1,787$1,234$832$550$358$172
34 years$1,716$1,169$777$506$324$152
35 years$1,648$1,109$727$466$294$134
36 years$1,585$1,053$680$429$266$118
37 years$1,525$1,000$636$395$241$104
38 years$1,469$950$596$364$219$92
39 years$1,415$903$558$336$198$81
40 years$1,364$860$523$310$180$71
41 years$1,316$818$491$286$163$63
42 years$1,271$779$460$264$148$55
43 years$1,227$742$432$244$134$49
44 years$1,186$708$405$225$122$43
45 years$1,146$675$381$208$111$38
46 years$1,109$644$357$192$101$34
47 years$1,073$614$336$177$91$30
48 years$1,039$587$316$164$83$26
49 years$1,006$560$297$151$75$23
50 years$974$535$279$140$68$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $998,000, adding $6,231 every year, while hoping to spend $41,059 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: 32/41/27 Blend
54$998,000$998,000$998,000$998,000
55$1,106,223$1,053,329$1,037,860$1,132,338
56$1,175,372$1,061,256$1,028,942$1,160,739
57$1,250,197$1,068,195$1,018,349$1,187,238
58$1,331,235$1,074,054$1,005,982$1,214,972
59$1,419,075$1,078,737$991,736$1,244,077
60$1,514,364$1,082,138$975,503$1,274,706
61$1,617,814$1,084,149$957,167$1,307,032
62$1,730,210$1,084,651$936,611$1,341,246
63$1,852,413$1,083,520$913,709$1,377,565
64$1,985,370$1,080,623$888,329$1,416,229
65$2,130,125$1,075,821$860,336$1,457,508
66$2,287,826$1,068,965$829,585$1,501,702
67$2,459,737$1,059,896$795,929$1,549,148
68$2,647,246$1,048,448$759,208$1,600,221
69$2,851,885$1,034,441$719,262$1,655,337
70$3,075,337$1,017,689$675,917$1,714,962
71$3,319,458$997,992$628,996$1,779,615
72$3,586,287$975,138$578,312$1,849,873
73$3,878,073$948,904$523,670$1,926,377
74$4,197,289$919,053$464,866$2,009,842
75$4,546,660$885,335$401,687$2,101,061
76$4,929,187$847,483$333,910$2,200,917
77$5,348,172$805,218$261,305$2,310,388
78$5,807,255$758,243$183,627$2,430,562
79$6,310,441$706,243$100,625$2,562,648
80$6,862,144$648,887$12,034$2,707,985
81$7,467,224$585,824$0$2,868,059
82$8,131,034$516,682$0$3,068,288
83$8,859,470$441,070$0$3,291,975
84$9,659,028$358,575$0$3,537,759
85$10,536,861$268,757$0$3,807,976
86$11,500,850$171,156$0$4,105,205
87$12,559,677$65,283$0$4,432,297
88$13,722,906$0$0$4,792,402
89$15,001,071$0$0$5,211,277
90$16,405,779$0$0$5,704,154
91$17,949,817$0$0$6,246,087
92$19,647,273$0$0$6,842,040
93$21,513,666$0$0$7,497,484
94$23,566,096$0$0$8,218,447
95$25,823,403$0$0$9,011,568
96$28,306,341$0$0$9,884,165
97$31,037,782$0$0$10,844,300
98$34,042,921$0$0$11,900,856
99$37,349,522$0$0$13,063,618
100$40,988,175$0$0$14,343,372