Can I retire at age 55 with 980,000?

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 $980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$80,927$80,207$79,503$78,817$78,147$75,494
2 years$40,063$39,317$38,594$37,893$37,213$34,567
3 years$26,443$25,694$24,973$24,278$23,609$21,053
4 years$19,635$18,888$18,174$17,491$16,838$14,392
5 years$15,551$14,808$14,104$13,435$12,800$10,470
6 years$12,829$12,092$11,398$10,744$10,128$7,915
7 years$10,886$10,155$9,472$8,833$8,237$6,141
8 years$9,429$8,705$8,033$7,410$6,833$4,854
9 years$8,296$7,579$6,919$6,312$5,755$3,888
10 years$7,391$6,680$6,032$5,441$4,903$3,147
11 years$6,650$5,947$5,310$4,735$4,217$2,568
12 years$6,034$5,338$4,713$4,153$3,654$2,108
13 years$5,513$4,824$4,211$3,667$3,187$1,739
14 years$5,066$4,385$3,783$3,255$2,793$1,441
15 years$4,680$4,006$3,416$2,903$2,460$1,198
16 years$4,342$3,675$3,097$2,599$2,174$998
17 years$4,044$3,385$2,818$2,335$1,927$834
18 years$3,779$3,128$2,572$2,105$1,714$698
19 years$3,543$2,899$2,355$1,902$1,528$585
20 years$3,331$2,693$2,161$1,722$1,364$491
21 years$3,139$2,509$1,988$1,563$1,221$412
22 years$2,964$2,342$1,832$1,421$1,094$346
23 years$2,806$2,190$1,692$1,294$982$292
24 years$2,660$2,052$1,565$1,181$883$245
25 years$2,527$1,926$1,449$1,078$795$207
26 years$2,403$1,810$1,344$986$716$174
27 years$2,290$1,703$1,248$902$645$147
28 years$2,184$1,605$1,160$827$582$124
29 years$2,086$1,514$1,080$758$526$104
30 years$1,995$1,430$1,006$696$475$88
31 years$1,910$1,352$938$639$430$74
32 years$1,830$1,279$875$587$389$63
33 years$1,755$1,211$817$540$352$53
34 years$1,685$1,148$763$497$318$45
35 years$1,619$1,089$713$457$288$38
36 years$1,556$1,034$667$421$261$32
37 years$1,498$982$625$388$237$27
38 years$1,442$933$585$358$215$23
39 years$1,390$887$548$330$195$19
40 years$1,340$844$514$304$177$16
41 years$1,293$803$482$281$160$14
42 years$1,248$765$452$259$145$12
43 years$1,205$729$424$239$132$10
44 years$1,164$695$398$221$120$8
45 years$1,126$663$374$204$109$7
46 years$1,089$632$351$188$99$6
47 years$1,054$603$330$174$90$5
48 years$1,020$576$310$161$81$4
49 years$988$550$291$149$74$4
50 years$957$525$274$137$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $980,000, adding $6,457 every year, while hoping to spend $38,317 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: 50/25/25 Blend
54$980,000$980,000$980,000$980,000
55$1,086,620$1,034,680$1,019,490$1,133,007
56$1,156,687$1,044,611$1,012,874$1,175,905
57$1,232,616$1,053,743$1,004,752$1,218,130
58$1,314,964$1,061,999$995,034$1,263,253
59$1,404,346$1,069,293$983,623$1,311,565
60$1,501,436$1,075,534$970,421$1,363,388
61$1,606,975$1,080,628$955,322$1,419,079
62$1,721,779$1,084,471$938,218$1,479,032
63$1,846,747$1,086,956$918,994$1,543,685
64$1,982,865$1,087,968$897,531$1,613,520
65$2,131,222$1,087,382$873,703$1,689,072
66$2,293,013$1,085,071$847,379$1,770,933
67$2,469,556$1,080,895$818,421$1,859,757
68$2,662,300$1,074,708$786,688$1,956,266
69$2,872,840$1,066,355$752,028$2,061,262
70$3,102,934$1,055,670$714,284$2,175,627
71$3,354,515$1,042,479$673,295$2,300,340
72$3,629,712$1,026,597$628,886$2,436,481
73$3,930,870$1,007,828$580,881$2,585,245
74$4,260,570$985,963$529,092$2,747,950
75$4,621,655$960,782$473,324$2,926,056
76$5,017,256$932,052$413,372$3,121,174
77$5,450,820$899,527$349,025$3,335,083
78$5,926,145$862,945$280,058$3,569,750
79$6,447,412$822,029$206,240$3,827,347
80$7,019,227$776,488$127,328$4,110,274
81$7,646,664$726,012$43,070$4,421,177
82$8,335,312$670,274$0$4,762,985
83$9,091,325$608,929$0$5,151,422
84$9,921,484$541,611$0$5,590,631
85$10,833,259$467,934$0$6,073,126
86$11,834,879$387,489$0$6,603,332
87$12,935,407$299,847$0$7,186,131
88$14,144,831$204,552$0$7,826,905
89$15,474,151$101,122$0$8,531,589
90$16,935,488$0$0$9,306,728
91$18,542,195$0$0$10,162,549
92$20,308,983$0$0$11,134,343
93$22,252,062$0$0$12,203,218
94$24,389,289$0$0$13,379,014
95$26,740,341$0$0$14,672,569
96$29,326,894$0$0$16,095,827
97$32,172,836$0$0$17,661,947
98$35,304,484$0$0$19,385,429
99$38,750,835$0$0$21,282,247
100$42,543,841$0$0$23,370,005