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%18.6%
1 years$81,340$80,616$79,909$79,219$78,545$75,819
2 years$40,268$39,518$38,791$38,086$37,403$34,684
3 years$26,578$25,825$25,100$24,402$23,730$21,104
4 years$19,735$18,984$18,267$17,580$16,924$14,412
5 years$15,630$14,884$14,176$13,503$12,866$10,473
6 years$12,895$12,154$11,456$10,799$10,180$7,909
7 years$10,941$10,207$9,520$8,878$8,279$6,130
8 years$9,477$8,749$8,074$7,448$6,868$4,839
9 years$8,339$7,618$6,954$6,344$5,784$3,871
10 years$7,429$6,715$6,063$5,468$4,928$3,130
11 years$6,684$5,978$5,337$4,759$4,239$2,550
12 years$6,065$5,365$4,737$4,174$3,673$2,091
13 years$5,541$4,849$4,232$3,685$3,203$1,723
14 years$5,092$4,407$3,802$3,271$2,808$1,425
15 years$4,704$4,026$3,433$2,918$2,472$1,183
16 years$4,364$3,694$3,113$2,612$2,185$985
17 years$4,065$3,402$2,832$2,347$1,937$821
18 years$3,799$3,143$2,586$2,115$1,723$686
19 years$3,561$2,913$2,367$1,911$1,535$574
20 years$3,348$2,707$2,172$1,731$1,371$481
21 years$3,155$2,522$1,998$1,571$1,227$403
22 years$2,980$2,354$1,842$1,428$1,100$339
23 years$2,820$2,202$1,700$1,301$987$284
24 years$2,674$2,063$1,573$1,187$888$239
25 years$2,539$1,936$1,456$1,084$799$201
26 years$2,416$1,819$1,351$991$719$169
27 years$2,301$1,712$1,254$907$649$142
28 years$2,195$1,613$1,166$831$585$120
29 years$2,097$1,522$1,085$762$528$101
30 years$2,005$1,437$1,011$699$477$85
31 years$1,919$1,359$942$642$432$72
32 years$1,839$1,286$879$590$391$60
33 years$1,764$1,218$821$543$353$51
34 years$1,693$1,154$767$499$320$43
35 years$1,627$1,095$717$460$290$36
36 years$1,564$1,039$671$423$263$30
37 years$1,505$987$628$390$238$26
38 years$1,450$938$588$360$216$22
39 years$1,397$892$551$332$196$18
40 years$1,347$848$516$306$177$15
41 years$1,299$808$484$282$161$13
42 years$1,254$769$454$260$146$11
43 years$1,211$733$426$240$133$9
44 years$1,170$698$400$222$120$8
45 years$1,131$666$376$205$109$7
46 years$1,094$635$353$189$99$6
47 years$1,059$606$331$175$90$5
48 years$1,025$579$311$162$82$4
49 years$993$553$293$149$74$3
50 years$962$528$275$138$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $985,000, adding $5,688 every year, while hoping to spend $30,490 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: 56/16/28 Blend
54$985,000$985,000$985,000$985,000
55$1,091,337$1,039,132$1,023,865$1,143,744
56$1,170,212$1,057,609$1,025,723$1,198,906
57$1,256,111$1,075,968$1,026,622$1,255,333
58$1,349,717$1,094,174$1,026,496$1,316,197
59$1,451,784$1,112,184$1,025,280$1,381,936
60$1,563,140$1,129,955$1,022,901$1,453,034
61$1,684,698$1,147,440$1,019,285$1,530,024
62$1,817,461$1,164,588$1,014,355$1,613,495
63$1,962,535$1,181,346$1,008,029$1,704,096
64$2,121,137$1,197,655$1,000,221$1,802,545
65$2,294,606$1,213,454$990,842$1,909,632
66$2,484,419$1,228,676$979,798$2,026,228
67$2,692,199$1,243,251$966,991$2,153,297
68$2,919,735$1,257,102$952,317$2,291,899
69$3,168,997$1,270,149$935,669$2,443,206
70$3,442,155$1,282,306$916,933$2,608,510
71$3,741,597$1,293,482$895,993$2,789,235
72$4,069,955$1,303,577$872,724$2,986,953
73$4,430,127$1,312,489$846,997$3,203,398
74$4,825,305$1,320,107$818,677$3,440,482
75$5,259,006$1,326,311$787,622$3,700,315
76$5,735,102$1,330,978$753,684$3,985,223
77$6,257,859$1,333,973$716,710$4,297,771
78$6,831,978$1,335,155$676,537$4,640,790
79$7,462,635$1,334,373$632,996$5,017,401
80$8,155,534$1,331,467$585,912$5,431,044
81$8,916,957$1,326,268$535,099$5,885,517
82$9,753,827$1,318,595$480,364$6,385,004
83$10,673,768$1,308,257$421,508$6,934,121
84$11,685,183$1,295,052$358,318$7,537,959
85$12,797,326$1,278,764$290,577$8,202,129
86$14,020,397$1,259,167$218,054$8,932,821
87$15,365,629$1,236,018$140,511$9,736,859
88$16,845,402$1,209,062$57,697$10,621,766
89$18,473,356$1,178,028$0$11,595,840
90$20,264,517$1,142,630$0$12,677,393
91$22,235,443$1,102,564$0$13,886,335
92$24,404,377$1,057,509$0$15,216,615
93$26,791,422$1,007,126$0$16,680,581
94$29,418,726$951,054$0$18,291,840
95$32,310,695$888,914$0$20,065,387
96$35,494,218$820,304$0$22,017,751
97$38,998,928$744,799$0$24,167,146
98$42,857,474$661,949$0$26,533,642
99$47,105,832$571,280$0$29,139,363
100$51,783,645$472,291$0$32,008,686