Can I retire at age 55 with 978,000?

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 $978,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$80,762$80,043$79,341$78,656$77,987$76,632
2 years$39,981$39,237$38,515$37,815$37,137$35,776
3 years$26,389$25,642$24,922$24,229$23,561$22,237
4 years$19,595$18,849$18,137$17,455$16,804$15,527
5 years$15,519$14,778$14,075$13,407$12,774$11,547
6 years$12,803$12,067$11,375$10,722$10,108$8,933
7 years$10,863$10,134$9,452$8,815$8,220$7,098
8 years$9,410$8,687$8,016$7,395$6,820$5,749
9 years$8,279$7,563$6,904$6,299$5,743$4,724
10 years$7,376$6,667$6,019$5,430$4,893$3,924
11 years$6,637$5,935$5,299$4,725$4,208$3,289
12 years$6,022$5,327$4,703$4,145$3,647$2,776
13 years$5,501$4,814$4,202$3,659$3,180$2,356
14 years$5,056$4,376$3,775$3,248$2,788$2,009
15 years$4,670$3,997$3,409$2,897$2,455$1,720
16 years$4,333$3,668$3,091$2,594$2,169$1,477
17 years$4,036$3,378$2,812$2,331$1,923$1,272
18 years$3,772$3,121$2,567$2,100$1,710$1,098
19 years$3,536$2,893$2,350$1,898$1,524$949
20 years$3,324$2,688$2,157$1,719$1,362$822
21 years$3,132$2,504$1,984$1,560$1,219$713
22 years$2,958$2,337$1,828$1,418$1,092$620
23 years$2,800$2,186$1,688$1,292$980$539
24 years$2,655$2,048$1,561$1,178$881$469
25 years$2,521$1,922$1,446$1,076$793$408
26 years$2,399$1,806$1,341$984$714$356
27 years$2,285$1,700$1,245$900$644$310
28 years$2,180$1,602$1,158$825$581$271
29 years$2,082$1,511$1,077$757$525$236
30 years$1,991$1,427$1,004$694$474$206
31 years$1,906$1,349$936$638$429$180
32 years$1,826$1,277$873$586$388$158
33 years$1,751$1,209$815$539$351$138
34 years$1,681$1,146$762$496$318$120
35 years$1,615$1,087$712$456$288$105
36 years$1,553$1,032$666$420$261$92
37 years$1,495$980$623$387$236$81
38 years$1,439$931$584$357$214$71
39 years$1,387$885$547$329$194$62
40 years$1,337$842$513$304$176$54
41 years$1,290$802$481$280$160$47
42 years$1,245$764$451$259$145$41
43 years$1,203$728$423$239$132$36
44 years$1,162$694$397$220$119$32
45 years$1,123$661$373$204$108$28
46 years$1,087$631$350$188$98$24
47 years$1,051$602$329$174$89$21
48 years$1,018$575$309$160$81$19
49 years$986$549$291$148$74$16
50 years$955$524$273$137$67$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $978,000, adding $5,711 every year, while hoping to spend $36,847 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: 80/15/5 Blend
54$978,000$978,000$978,000$978,000
55$1,083,647$1,031,813$1,016,654$1,169,701
56$1,154,974$1,043,167$1,011,507$1,238,190
57$1,232,341$1,053,842$1,004,952$1,307,850
58$1,316,327$1,063,767$996,905$1,383,152
59$1,407,564$1,072,863$987,273$1,464,640
60$1,506,753$1,081,051$975,964$1,552,912
61$1,614,660$1,088,241$962,877$1,648,625
62$1,732,132$1,094,342$947,911$1,752,505
63$1,860,099$1,099,254$930,955$1,865,352
64$1,999,584$1,102,872$911,897$1,988,046
65$2,151,713$1,105,085$890,617$2,121,555
66$2,317,728$1,105,773$866,992$2,266,949
67$2,498,991$1,104,812$840,892$2,425,404
68$2,697,007$1,102,066$812,180$2,598,216
69$2,913,428$1,097,394$780,715$2,786,814
70$3,150,077$1,090,645$746,348$2,992,773
71$3,408,957$1,081,658$708,922$3,217,826
72$3,692,276$1,070,265$668,277$3,463,885
73$4,002,465$1,056,285$624,241$3,733,057
74$4,342,201$1,039,528$576,638$4,027,661
75$4,714,432$1,019,791$525,282$4,350,256
76$5,122,405$996,862$469,979$4,703,661
77$5,569,694$970,512$410,528$5,090,981
78$6,060,238$940,502$346,716$5,515,640
79$6,598,375$906,579$278,323$5,981,410
80$7,188,881$868,473$205,119$6,492,450
81$7,837,019$825,900$126,862$7,053,341
82$8,548,585$778,560$43,303$7,669,135
83$9,329,966$726,134$0$8,345,396
84$10,188,194$668,287$0$9,090,706
85$11,131,018$604,661$0$9,912,003
86$12,166,975$534,882$0$10,814,441
87$13,305,468$458,553$0$11,806,248
88$14,556,857$375,254$0$12,896,491
89$15,932,556$284,541$0$14,095,164
90$17,445,140$185,947$0$15,413,278
91$19,108,463$78,977$0$16,862,969
92$20,937,788$0$0$18,457,613
93$22,949,932$0$0$20,218,037
94$25,163,425$0$0$22,168,991
95$27,598,680$0$0$24,315,437
96$30,278,193$0$0$26,677,205
97$33,226,745$0$0$29,276,143
98$36,471,645$0$0$32,136,326
99$40,042,982$0$0$35,284,279
100$43,973,910$0$0$38,749,229