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%13.7%
1 years$82,414$81,680$80,964$80,265$79,582$78,360
2 years$40,799$40,039$39,303$38,589$37,896$36,668
3 years$26,929$26,166$25,431$24,724$24,043$22,847
4 years$19,996$19,235$18,508$17,812$17,148$15,993
5 years$15,837$15,080$14,363$13,682$13,035$11,925
6 years$13,065$12,314$11,607$10,941$10,314$9,250
7 years$11,086$10,341$9,646$8,995$8,388$7,370
8 years$9,602$8,865$8,180$7,546$6,959$5,987
9 years$8,449$7,718$7,046$6,428$5,860$4,934
10 years$7,527$6,803$6,143$5,541$4,993$4,112
11 years$6,773$6,056$5,408$4,822$4,294$3,457
12 years$6,145$5,436$4,799$4,230$3,722$2,927
13 years$5,614$4,913$4,288$3,734$3,245$2,492
14 years$5,159$4,465$3,853$3,315$2,845$2,132
15 years$4,766$4,079$3,478$2,956$2,505$1,832
16 years$4,422$3,743$3,154$2,647$2,214$1,578
17 years$4,118$3,447$2,870$2,378$1,963$1,364
18 years$3,849$3,185$2,620$2,143$1,745$1,182
19 years$3,608$2,952$2,398$1,937$1,556$1,026
20 years$3,392$2,743$2,201$1,754$1,389$892
21 years$3,196$2,555$2,024$1,592$1,243$777
22 years$3,019$2,385$1,866$1,447$1,115$677
23 years$2,857$2,231$1,723$1,318$1,000$591
24 years$2,709$2,090$1,593$1,202$899$516
25 years$2,573$1,961$1,476$1,098$809$452
26 years$2,448$1,843$1,369$1,004$729$395
27 years$2,332$1,735$1,271$919$657$346
28 years$2,224$1,635$1,181$842$593$303
29 years$2,124$1,542$1,099$772$535$266
30 years$2,031$1,456$1,024$709$484$233
31 years$1,945$1,377$955$651$437$204
32 years$1,863$1,303$891$598$396$179
33 years$1,787$1,234$832$550$358$157
34 years$1,716$1,169$777$506$324$138
35 years$1,648$1,109$727$466$294$121
36 years$1,585$1,053$680$429$266$107
37 years$1,525$1,000$636$395$241$94
38 years$1,469$950$596$364$219$82
39 years$1,415$903$558$336$198$72
40 years$1,364$860$523$310$180$64
41 years$1,316$818$491$286$163$56
42 years$1,271$779$460$264$148$49
43 years$1,227$742$432$244$134$43
44 years$1,186$708$405$225$122$38
45 years$1,146$675$381$208$111$33
46 years$1,109$644$357$192$101$29
47 years$1,073$614$336$177$91$26
48 years$1,039$587$316$164$83$23
49 years$1,006$560$297$151$75$20
50 years$974$535$279$140$68$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $998,000, adding $5,784 every year, while hoping to spend $28,555 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: 56/31/13 Blend
54$998,000$998,000$998,000$998,000
55$1,105,762$1,052,868$1,037,399$1,163,693
56$1,188,168$1,074,076$1,041,770$1,224,817
57$1,278,021$1,095,367$1,045,330$1,287,743
58$1,376,053$1,116,713$1,048,022$1,355,619
59$1,483,066$1,138,087$1,049,786$1,428,924
60$1,599,943$1,159,459$1,050,558$1,508,186
61$1,727,659$1,180,793$1,050,273$1,593,984
62$1,867,284$1,202,056$1,048,861$1,686,960
63$2,019,998$1,223,208$1,046,249$1,787,819
64$2,187,099$1,244,207$1,042,360$1,897,338
65$2,370,019$1,265,008$1,037,115$2,016,375
66$2,570,331$1,285,564$1,030,428$2,145,875
67$2,789,770$1,305,822$1,022,213$2,286,879
68$3,030,245$1,325,726$1,012,376$2,440,535
69$3,293,861$1,345,217$1,000,821$2,608,110
70$3,582,933$1,364,231$987,447$2,790,998
71$3,900,013$1,382,699$972,147$2,990,738
72$4,247,911$1,400,548$954,811$3,209,024
73$4,629,723$1,417,700$935,322$3,447,728
74$5,048,858$1,434,070$913,558$3,708,908
75$5,509,072$1,449,571$889,393$3,994,838
76$6,014,503$1,464,105$862,694$4,308,021
77$6,569,708$1,477,573$833,320$4,651,219
78$7,179,709$1,489,864$801,127$5,027,475
79$7,850,036$1,500,864$765,961$5,440,145
80$8,586,784$1,510,450$727,665$5,892,928
81$9,396,665$1,518,492$686,071$6,389,903
82$10,287,076$1,524,849$641,006$6,935,565
83$11,266,166$1,529,374$592,287$7,534,871
84$12,342,911$1,531,910$539,725$8,193,285
85$13,527,204$1,532,290$483,122$8,916,829
86$14,829,942$1,530,335$422,270$9,712,144
87$16,263,133$1,525,858$356,952$10,586,549
88$17,840,006$1,518,659$286,944$11,548,113
89$19,575,138$1,508,525$212,008$12,605,733
90$21,484,591$1,495,231$131,899$13,769,212
91$23,586,060$1,478,538$46,358$15,049,360
92$25,899,046$1,458,194$0$16,458,093
93$28,445,033$1,433,930$0$18,014,777
94$31,247,696$1,405,462$0$19,734,924
95$34,333,120$1,372,489$0$21,628,100
96$37,730,050$1,334,693$0$23,711,937
97$41,470,157$1,291,735$0$26,005,872
98$45,588,343$1,243,259$0$28,531,325
99$50,123,062$1,188,888$0$31,311,907
100$55,116,691$1,128,220$0$34,373,637