Can I retire at age 55 with 985,000?

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 $985,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$81,340$80,616$79,909$79,219$78,545$76,522
2 years$40,268$39,518$38,791$38,086$37,403$35,378
3 years$26,578$25,825$25,100$24,402$23,730$21,767
4 years$19,735$18,984$18,267$17,580$16,924$15,038
5 years$15,630$14,884$14,176$13,503$12,866$11,061
6 years$12,895$12,154$11,456$10,799$10,180$8,460
7 years$10,941$10,207$9,520$8,878$8,279$6,642
8 years$9,477$8,749$8,074$7,448$6,868$5,315
9 years$8,339$7,618$6,954$6,344$5,784$4,312
10 years$7,429$6,715$6,063$5,468$4,928$3,537
11 years$6,684$5,978$5,337$4,759$4,239$2,925
12 years$6,065$5,365$4,737$4,174$3,673$2,435
13 years$5,541$4,849$4,232$3,685$3,203$2,038
14 years$5,092$4,407$3,802$3,271$2,808$1,713
15 years$4,704$4,026$3,433$2,918$2,472$1,445
16 years$4,364$3,694$3,113$2,612$2,185$1,223
17 years$4,065$3,402$2,832$2,347$1,937$1,037
18 years$3,799$3,143$2,586$2,115$1,723$881
19 years$3,561$2,913$2,367$1,911$1,535$750
20 years$3,348$2,707$2,172$1,731$1,371$640
21 years$3,155$2,522$1,998$1,571$1,227$546
22 years$2,980$2,354$1,842$1,428$1,100$467
23 years$2,820$2,202$1,700$1,301$987$399
24 years$2,674$2,063$1,573$1,187$888$342
25 years$2,539$1,936$1,456$1,084$799$293
26 years$2,416$1,819$1,351$991$719$251
27 years$2,301$1,712$1,254$907$649$215
28 years$2,195$1,613$1,166$831$585$185
29 years$2,097$1,522$1,085$762$528$158
30 years$2,005$1,437$1,011$699$477$136
31 years$1,919$1,359$942$642$432$117
32 years$1,839$1,286$879$590$391$100
33 years$1,764$1,218$821$543$353$86
34 years$1,693$1,154$767$499$320$74
35 years$1,627$1,095$717$460$290$64
36 years$1,564$1,039$671$423$263$55
37 years$1,505$987$628$390$238$47
38 years$1,450$938$588$360$216$40
39 years$1,397$892$551$332$196$35
40 years$1,347$848$516$306$177$30
41 years$1,299$808$484$282$161$26
42 years$1,254$769$454$260$146$22
43 years$1,211$733$426$240$133$19
44 years$1,170$698$400$222$120$16
45 years$1,131$666$376$205$109$14
46 years$1,094$635$353$189$99$12
47 years$1,059$606$331$175$90$10
48 years$1,025$579$311$162$82$9
49 years$993$553$293$149$74$8
50 years$962$528$275$138$67$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $985,000, adding $2,711 every year, while hoping to spend $37,440 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: 49/25/26 Blend
54$985,000$985,000$985,000$985,000
55$1,088,266$1,036,061$1,020,794$1,133,448
56$1,159,434$1,046,993$1,015,155$1,176,253
57$1,236,605$1,057,204$1,008,072$1,218,788
58$1,320,354$1,066,622$999,457$1,264,257
59$1,411,310$1,075,167$989,219$1,312,956
60$1,510,166$1,082,753$977,260$1,365,210
61$1,617,685$1,089,289$963,480$1,421,381
62$1,734,706$1,094,681$947,774$1,481,867
63$1,862,151$1,098,826$930,029$1,547,111
64$2,001,037$1,101,615$910,131$1,617,601
65$2,152,480$1,102,932$887,959$1,693,879
66$2,317,712$1,102,655$863,385$1,776,543
67$2,498,087$1,100,653$836,276$1,866,254
68$2,695,095$1,096,788$806,494$1,963,743
69$2,910,377$1,090,913$773,894$2,069,820
70$3,145,740$1,082,872$738,324$2,185,377
71$3,403,173$1,072,500$699,625$2,311,405
72$3,684,866$1,059,622$657,632$2,448,994
73$3,993,230$1,044,051$612,171$2,599,351
74$4,330,922$1,025,592$563,061$2,763,811
75$4,700,865$1,004,035$510,113$2,943,848
76$5,106,280$979,160$453,129$3,141,089
77$5,550,715$950,733$391,902$3,357,333
78$6,038,075$918,506$326,218$3,594,567
79$6,572,663$882,217$255,851$3,854,985
80$7,159,218$841,590$180,566$4,141,010
81$7,802,961$796,330$100,117$4,455,319
82$8,509,640$746,127$14,248$4,800,866
83$9,285,591$690,655$0$5,180,913
84$10,137,789$629,565$0$5,620,532
85$11,073,921$562,491$0$6,107,843
86$12,102,454$489,046$0$6,643,359
87$13,232,715$408,821$0$7,232,009
88$14,474,982$321,382$0$7,879,229
89$15,840,574$226,274$0$8,591,010
90$17,341,965$123,013$0$9,373,960
91$18,992,895$11,091$0$10,235,365
92$20,808,505$0$0$11,183,259
93$22,805,475$0$0$12,256,769
94$25,002,183$0$0$13,441,129
95$27,418,877$0$0$14,744,219
96$30,077,867$0$0$16,178,086
97$33,003,736$0$0$17,756,001
98$36,223,569$0$0$19,492,587
99$39,767,208$0$0$21,403,958
100$43,667,536$0$0$23,507,867