Can I retire at age 55 with 988,000?

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 $988,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$81,588$80,861$80,152$79,460$78,785$76,818
2 years$40,390$39,638$38,909$38,202$37,516$35,547
3 years$26,659$25,904$25,177$24,476$23,802$21,892
4 years$19,795$19,042$18,322$17,634$16,976$15,140
5 years$15,678$14,929$14,219$13,545$12,905$11,148
6 years$12,934$12,191$11,491$10,832$10,211$8,535
7 years$10,975$10,238$9,549$8,905$8,304$6,709
8 years$9,506$8,776$8,098$7,470$6,889$5,375
9 years$8,364$7,641$6,975$6,363$5,802$4,366
10 years$7,451$6,735$6,081$5,485$4,943$3,585
11 years$6,705$5,996$5,354$4,774$4,251$2,969
12 years$6,083$5,382$4,751$4,187$3,684$2,475
13 years$5,558$4,863$4,245$3,697$3,213$2,074
14 years$5,108$4,421$3,814$3,281$2,816$1,746
15 years$4,718$4,038$3,444$2,926$2,480$1,475
16 years$4,377$3,705$3,122$2,620$2,192$1,250
17 years$4,077$3,412$2,841$2,354$1,943$1,061
18 years$3,810$3,153$2,593$2,122$1,728$903
19 years$3,572$2,922$2,374$1,917$1,540$770
20 years$3,358$2,715$2,179$1,736$1,376$658
21 years$3,164$2,529$2,004$1,576$1,231$563
22 years$2,989$2,361$1,847$1,433$1,103$481
23 years$2,829$2,208$1,706$1,305$990$412
24 years$2,682$2,069$1,577$1,190$890$354
25 years$2,547$1,942$1,461$1,087$801$303
26 years$2,423$1,825$1,355$994$722$260
27 years$2,308$1,717$1,258$910$651$224
28 years$2,202$1,618$1,170$833$587$192
29 years$2,103$1,527$1,088$764$530$165
30 years$2,011$1,442$1,014$701$479$142
31 years$1,925$1,363$945$644$433$122
32 years$1,845$1,290$882$592$392$105
33 years$1,769$1,221$823$544$354$90
34 years$1,699$1,158$769$501$321$78
35 years$1,632$1,098$719$461$291$67
36 years$1,569$1,042$673$425$263$58
37 years$1,510$990$630$391$239$50
38 years$1,454$941$590$361$216$43
39 years$1,401$894$553$333$196$37
40 years$1,351$851$518$307$178$32
41 years$1,303$810$486$283$161$27
42 years$1,258$771$456$261$147$23
43 years$1,215$735$427$241$133$20
44 years$1,174$701$401$223$121$17
45 years$1,135$668$377$206$110$15
46 years$1,098$637$354$190$100$13
47 years$1,062$608$332$175$90$11
48 years$1,028$581$312$162$82$10
49 years$996$554$294$150$75$8
50 years$965$530$276$138$68$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $988,000, adding $4,238 every year, while hoping to spend $39,472 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: 74/5/21 Blend
54$988,000$988,000$988,000$988,000
55$1,093,147$1,040,783$1,025,469$1,168,220
56$1,162,651$1,049,784$1,017,825$1,227,651
57$1,237,920$1,057,903$1,008,601$1,287,569
58$1,319,503$1,065,054$997,704$1,352,223
59$1,407,999$1,071,149$985,034$1,422,080
60$1,504,070$1,076,090$970,488$1,497,649
61$1,608,442$1,079,776$953,956$1,579,496
62$1,721,916$1,082,098$935,326$1,668,241
63$1,845,370$1,082,939$914,479$1,764,570
64$1,979,773$1,082,179$891,289$1,869,240
65$2,126,190$1,079,685$865,627$1,983,084
66$2,285,792$1,075,321$837,357$2,107,020
67$2,459,870$1,068,939$806,335$2,242,063
68$2,649,843$1,060,383$772,413$2,389,329
69$2,857,274$1,049,488$735,436$2,550,051
70$3,083,883$1,036,080$695,240$2,725,587
71$3,331,564$1,019,973$651,655$2,917,435
72$3,602,401$1,000,970$604,504$3,127,246
73$3,898,691$978,862$553,600$3,356,842
74$4,222,961$953,430$498,749$3,608,230
75$4,577,995$924,440$439,749$3,883,624
76$4,966,858$891,645$376,388$4,185,464
77$5,392,924$854,782$308,444$4,516,442
78$5,859,912$813,576$235,686$4,879,525
79$6,371,915$767,734$157,874$5,277,984
80$6,933,443$716,945$74,755$5,715,424
81$7,549,462$660,883$0$6,195,823
82$8,225,442$599,201$0$6,726,689
83$8,967,410$531,534$0$7,327,808
84$9,782,001$457,495$0$7,987,804
85$10,676,528$376,676$0$8,712,617
86$11,659,045$288,644$0$9,508,793
87$12,738,424$192,944$0$10,383,543
88$13,924,440$89,095$0$11,344,811
89$15,227,861$0$0$12,401,352
90$16,660,548$0$0$13,564,099
91$18,235,573$0$0$14,847,800
92$19,967,333$0$0$16,259,292
93$21,871,692$0$0$17,811,514
94$23,966,128$0$0$19,518,715
95$26,269,897$0$0$21,396,600
96$28,804,216$0$0$23,462,468
97$31,592,462$0$0$25,735,383
98$34,660,391$0$0$28,236,347
99$38,036,382$0$0$30,988,502
100$41,751,703$0$0$34,017,346