Can I retire at age 55 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$81,506$80,780$80,071$79,380$78,705$76,308
2 years$40,349$39,598$38,870$38,163$37,478$35,084
3 years$26,632$25,878$25,151$24,452$23,778$21,461
4 years$19,775$19,023$18,304$17,616$16,959$14,737
5 years$15,662$14,914$14,204$13,531$12,892$10,772
6 years$12,921$12,178$11,479$10,821$10,201$8,184
7 years$10,963$10,227$9,539$8,896$8,296$6,383
8 years$9,496$8,767$8,090$7,463$6,882$5,071
9 years$8,356$7,633$6,968$6,357$5,796$4,085
10 years$7,444$6,728$6,075$5,480$4,938$3,325
11 years$6,698$5,990$5,348$4,769$4,247$2,729
12 years$6,077$5,376$4,746$4,183$3,680$2,254
13 years$5,552$4,858$4,241$3,693$3,209$1,871
14 years$5,102$4,416$3,810$3,278$2,813$1,560
15 years$4,713$4,034$3,440$2,924$2,477$1,305
16 years$4,373$3,701$3,119$2,618$2,189$1,094
17 years$4,073$3,409$2,838$2,352$1,941$920
18 years$3,806$3,150$2,591$2,120$1,726$775
19 years$3,568$2,919$2,372$1,915$1,538$654
20 years$3,355$2,713$2,177$1,735$1,374$553
21 years$3,161$2,527$2,002$1,574$1,230$467
22 years$2,986$2,359$1,845$1,431$1,102$396
23 years$2,826$2,206$1,704$1,304$989$335
24 years$2,679$2,067$1,576$1,189$889$284
25 years$2,545$1,940$1,459$1,086$800$241
26 years$2,421$1,823$1,354$993$721$205
27 years$2,306$1,716$1,257$909$650$174
28 years$2,200$1,617$1,168$833$586$148
29 years$2,101$1,525$1,087$764$530$125
30 years$2,009$1,440$1,013$701$478$107
31 years$1,923$1,362$944$644$433$91
32 years$1,843$1,288$881$591$391$77
33 years$1,768$1,220$823$544$354$66
34 years$1,697$1,156$769$500$321$56
35 years$1,630$1,097$719$461$290$47
36 years$1,568$1,041$672$424$263$40
37 years$1,508$989$629$391$238$34
38 years$1,452$940$589$360$216$29
39 years$1,400$893$552$332$196$25
40 years$1,349$850$517$306$178$21
41 years$1,302$809$485$283$161$18
42 years$1,257$771$455$261$146$15
43 years$1,214$734$427$241$133$13
44 years$1,173$700$401$222$121$11
45 years$1,134$667$376$205$109$9
46 years$1,097$637$354$190$99$8
47 years$1,061$608$332$175$90$7
48 years$1,027$580$312$162$82$6
49 years$995$554$293$150$74$5
50 years$964$529$276$138$68$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $987,000, adding $2,413 every year, while hoping to spend $24,440 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: 43/46/11 Blend
54$987,000$987,000$987,000$987,000
55$1,090,163$1,037,852$1,022,554$1,133,464
56$1,175,356$1,062,703$1,030,805$1,188,760
57$1,268,419$1,087,952$1,038,514$1,245,977
58$1,370,130$1,113,594$1,045,636$1,307,415
59$1,481,343$1,139,620$1,052,125$1,373,473
60$1,603,002$1,166,023$1,057,933$1,444,585
61$1,736,142$1,192,792$1,063,008$1,521,234
62$1,881,906$1,219,917$1,067,296$1,603,949
63$2,041,551$1,247,384$1,070,742$1,693,314
64$2,216,463$1,275,179$1,073,285$1,789,970
65$2,408,165$1,303,286$1,074,863$1,894,626
66$2,618,339$1,331,687$1,075,412$2,008,062
67$2,848,833$1,360,364$1,074,861$2,131,137
68$3,101,685$1,389,293$1,073,141$2,264,798
69$3,379,140$1,418,451$1,070,174$2,410,089
70$3,683,670$1,447,812$1,065,882$2,568,159
71$4,017,997$1,477,348$1,060,181$2,740,276
72$4,385,120$1,507,026$1,052,986$2,927,836
73$4,788,346$1,536,813$1,044,204$3,132,377
74$5,231,312$1,566,672$1,033,740$3,355,597
75$5,718,029$1,596,563$1,021,493$3,599,364
76$6,252,915$1,626,441$1,007,360$3,865,740
77$6,840,836$1,656,260$991,231$4,156,994
78$7,487,154$1,685,970$972,989$4,475,631
79$8,197,776$1,715,514$952,517$4,824,409
80$8,979,209$1,744,835$929,686$5,206,369
81$9,838,625$1,773,868$904,367$5,624,863
82$10,783,922$1,802,545$876,421$6,083,587
83$11,823,805$1,830,793$845,704$6,586,613
84$12,967,864$1,858,532$812,066$7,138,431
85$14,226,664$1,885,679$775,348$7,743,988
86$15,611,849$1,912,142$735,387$8,408,739
87$17,136,246$1,937,825$692,011$9,138,697
88$18,813,988$1,962,624$645,039$9,940,489
89$20,660,651$1,986,428$594,283$10,821,420
90$22,693,393$2,009,119$539,548$11,789,542
91$24,931,124$2,030,571$480,628$12,853,731
92$27,394,679$2,050,649$417,308$14,023,770
93$30,107,014$2,069,208$349,366$15,310,444
94$33,093,426$2,086,097$276,567$16,725,640
95$36,381,791$2,101,151$198,667$18,282,460
96$40,002,824$2,114,197$115,413$19,995,345
97$43,990,370$2,125,050$26,537$21,880,215
98$48,381,724$2,133,514$0$23,954,616
99$53,217,982$2,139,379$0$26,245,907
100$58,544,431$2,142,423$0$28,771,231