Can I retire at age 55 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$80,845$80,125$79,422$78,736$78,067$76,742
2 years$40,022$39,277$38,554$37,854$37,175$35,844
3 years$26,416$25,668$24,947$24,253$23,585$22,290
4 years$19,615$18,869$18,155$17,473$16,821$15,572
5 years$15,535$14,793$14,089$13,421$12,787$11,587
6 years$12,816$12,080$11,386$10,733$10,118$8,968
7 years$10,875$10,145$9,462$8,824$8,229$7,130
8 years$9,419$8,696$8,024$7,402$6,826$5,778
9 years$8,288$7,571$6,911$6,305$5,749$4,751
10 years$7,383$6,674$6,026$5,435$4,898$3,949
11 years$6,644$5,941$5,305$4,730$4,213$3,312
12 years$6,028$5,332$4,708$4,149$3,651$2,797
13 years$5,507$4,819$4,206$3,663$3,183$2,375
14 years$5,061$4,380$3,779$3,252$2,791$2,027
15 years$4,675$4,002$3,412$2,900$2,457$1,736
16 years$4,337$3,671$3,094$2,596$2,172$1,492
17 years$4,040$3,381$2,815$2,333$1,925$1,286
18 years$3,776$3,124$2,570$2,102$1,712$1,111
19 years$3,540$2,896$2,353$1,900$1,526$961
20 years$3,327$2,691$2,159$1,721$1,363$833
21 years$3,136$2,506$1,986$1,562$1,220$723
22 years$2,961$2,340$1,830$1,420$1,093$629
23 years$2,803$2,188$1,690$1,293$981$547
24 years$2,657$2,050$1,563$1,179$882$477
25 years$2,524$1,924$1,448$1,077$794$415
26 years$2,401$1,808$1,343$985$715$362
27 years$2,287$1,702$1,247$901$645$316
28 years$2,182$1,604$1,159$826$582$276
29 years$2,084$1,513$1,079$757$525$241
30 years$1,993$1,429$1,005$695$475$211
31 years$1,908$1,351$937$638$429$184
32 years$1,828$1,278$874$587$388$161
33 years$1,753$1,210$816$539$351$141
34 years$1,683$1,147$762$496$318$123
35 years$1,617$1,088$713$457$288$108
36 years$1,555$1,033$667$421$261$95
37 years$1,496$981$624$388$237$83
38 years$1,441$932$584$357$214$72
39 years$1,388$886$548$330$194$63
40 years$1,338$843$513$304$176$56
41 years$1,291$803$481$280$160$49
42 years$1,246$764$451$259$145$43
43 years$1,204$728$424$239$132$37
44 years$1,163$694$398$221$120$33
45 years$1,125$662$373$204$109$29
46 years$1,088$632$351$188$99$25
47 years$1,052$603$329$174$90$22
48 years$1,019$575$310$161$81$19
49 years$987$549$291$148$74$17
50 years$956$525$274$137$67$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $979,000, adding $2,843 every year, while hoping to spend $39,892 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: 59/25/16 Blend
54$979,000$979,000$979,000$979,000
55$1,081,791$1,029,904$1,014,729$1,141,018
56$1,149,688$1,037,924$1,006,278$1,189,400
57$1,223,175$1,045,001$996,206$1,237,474
58$1,302,778$1,051,045$984,418$1,288,973
59$1,389,078$1,055,962$970,813$1,344,234
60$1,482,713$1,059,654$955,284$1,403,628
61$1,584,385$1,062,012$937,722$1,467,565
62$1,694,866$1,062,925$918,010$1,536,499
63$1,815,007$1,062,272$896,027$1,610,931
64$1,945,740$1,059,926$871,646$1,691,414
65$2,088,094$1,055,752$844,735$1,778,558
66$2,243,202$1,049,605$815,156$1,873,040
67$2,412,307$1,041,334$782,762$1,975,605
68$2,596,780$1,030,777$747,402$2,087,076
69$2,798,129$1,017,763$708,918$2,208,364
70$3,018,015$1,002,111$667,144$2,340,473
71$3,258,266$983,627$621,906$2,484,512
72$3,520,893$962,109$573,024$2,641,706
73$3,808,112$937,340$520,308$2,813,408
74$4,122,363$909,093$463,562$3,001,112
75$4,466,330$877,125$402,577$3,206,466
76$4,842,971$841,180$337,140$3,431,291
77$5,255,544$800,988$267,024$3,677,597
78$5,707,636$756,261$191,994$3,947,601
79$6,203,195$706,699$111,807$4,243,751
80$6,746,572$651,979$26,204$4,568,751
81$7,342,560$591,763$0$4,925,583
82$7,996,435$525,693$0$5,328,661
83$8,714,011$453,392$0$5,775,991
84$9,501,691$374,459$0$6,267,154
85$10,366,528$288,472$0$6,806,624
86$11,316,292$194,985$0$7,399,337
87$12,359,542$93,527$0$8,050,733
88$13,505,706$0$0$8,766,812
89$14,765,172$0$0$9,558,700
90$16,149,383$0$0$10,457,385
91$17,670,945$0$0$11,445,332
92$19,343,748$0$0$12,531,570
93$21,183,094$0$0$13,726,047
94$23,205,841$0$0$15,039,723
95$25,430,563$0$0$16,484,673
96$27,877,725$0$0$18,074,201
97$30,569,875$0$0$19,822,966
98$33,531,856$0$0$21,747,119
99$36,791,040$0$0$23,864,455
100$40,377,587$0$0$26,194,581