Can I retire at age 55 with 989,000?

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 $989,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$81,671$80,943$80,233$79,541$78,864$77,654
2 years$40,431$39,678$38,948$38,241$37,554$36,338
3 years$26,686$25,930$25,202$24,501$23,826$22,641
4 years$19,815$19,061$18,341$17,652$16,993$15,849
5 years$15,694$14,944$14,233$13,558$12,918$11,818
6 years$12,947$12,203$11,502$10,843$10,221$9,167
7 years$10,986$10,248$9,559$8,914$8,313$7,304
8 years$9,515$8,785$8,106$7,478$6,896$5,933
9 years$8,373$7,649$6,982$6,370$5,808$4,890
10 years$7,459$6,742$6,087$5,491$4,948$4,075
11 years$6,712$6,002$5,359$4,779$4,256$3,426
12 years$6,089$5,387$4,756$4,191$3,688$2,900
13 years$5,563$4,868$4,249$3,700$3,216$2,470
14 years$5,113$4,425$3,818$3,285$2,819$2,113
15 years$4,723$4,042$3,447$2,929$2,482$1,815
16 years$4,382$3,709$3,125$2,623$2,194$1,564
17 years$4,081$3,416$2,844$2,357$1,945$1,352
18 years$3,814$3,156$2,596$2,124$1,730$1,171
19 years$3,576$2,925$2,377$1,919$1,542$1,016
20 years$3,361$2,718$2,181$1,738$1,377$884
21 years$3,168$2,532$2,006$1,577$1,232$770
22 years$2,992$2,363$1,849$1,434$1,104$671
23 years$2,831$2,210$1,707$1,306$991$586
24 years$2,685$2,071$1,579$1,191$891$512
25 years$2,550$1,944$1,462$1,088$802$447
26 years$2,426$1,827$1,356$995$722$392
27 years$2,311$1,719$1,259$911$651$343
28 years$2,204$1,620$1,171$834$588$300
29 years$2,105$1,528$1,090$765$531$263
30 years$2,013$1,443$1,015$702$479$231
31 years$1,927$1,364$946$645$433$203
32 years$1,847$1,291$883$593$392$178
33 years$1,771$1,223$824$545$355$156
34 years$1,700$1,159$770$501$321$137
35 years$1,634$1,099$720$462$291$120
36 years$1,571$1,043$674$425$264$106
37 years$1,511$991$630$392$239$93
38 years$1,455$942$590$361$217$82
39 years$1,402$895$553$333$196$72
40 years$1,352$852$518$307$178$63
41 years$1,304$811$486$283$162$55
42 years$1,259$772$456$261$147$49
43 years$1,216$736$428$241$133$43
44 years$1,175$701$402$223$121$38
45 years$1,136$669$377$206$110$33
46 years$1,099$638$354$190$100$29
47 years$1,063$609$333$176$90$26
48 years$1,029$581$313$162$82$22
49 years$997$555$294$150$75$20
50 years$966$530$276$139$68$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $989,000, adding $6,496 every year, while hoping to spend $27,407 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: 57/26/17 Blend
54$989,000$989,000$989,000$989,000
55$1,096,579$1,044,162$1,028,832$1,153,837
56$1,179,269$1,066,165$1,034,137$1,215,457
57$1,269,475$1,088,327$1,038,701$1,279,036
58$1,367,934$1,110,629$1,042,471$1,347,700
59$1,475,459$1,133,045$1,045,389$1,421,942
60$1,592,944$1,155,552$1,047,398$1,502,307
61$1,721,372$1,178,122$1,048,433$1,589,395
62$1,861,827$1,200,725$1,048,431$1,683,867
63$2,015,502$1,223,329$1,047,322$1,786,452
64$2,183,710$1,245,899$1,045,034$1,897,952
65$2,367,899$1,268,399$1,041,493$2,019,252
66$2,569,661$1,290,786$1,036,619$2,151,329
67$2,790,749$1,313,018$1,030,329$2,295,258
68$3,033,097$1,335,047$1,022,536$2,452,224
69$3,298,831$1,356,822$1,013,150$2,623,535
70$3,590,296$1,378,290$1,002,074$2,810,630
71$3,910,071$1,399,392$989,209$3,015,097
72$4,261,002$1,420,066$974,451$3,238,688
73$4,646,218$1,440,243$957,689$3,483,332
74$5,069,171$1,459,853$938,810$3,751,156
75$5,533,659$1,478,819$917,693$4,044,505
76$6,043,869$1,497,058$894,212$4,365,964
77$6,604,412$1,514,482$868,237$4,718,383
78$7,220,369$1,530,999$839,630$5,104,904
79$7,897,337$1,546,508$808,247$5,528,990
80$8,641,480$1,560,902$773,939$5,994,457
81$9,459,593$1,574,067$736,547$6,505,516
82$10,359,158$1,585,884$695,909$7,066,804
83$11,348,422$1,596,221$651,851$7,683,437
84$12,436,468$1,604,944$604,195$8,361,051
85$13,633,306$1,611,904$552,754$9,105,861
86$14,949,964$1,616,948$497,332$9,924,717
87$16,398,592$1,619,910$437,724$10,825,172
88$17,992,577$1,620,614$373,717$11,815,548
89$19,746,670$1,618,875$305,087$12,905,022
90$21,677,125$1,614,495$231,602$14,103,708
91$23,801,850$1,607,263$153,018$15,422,755
92$26,140,577$1,596,956$69,082$16,874,453
93$28,715,048$1,583,340$0$18,472,348
94$31,549,222$1,566,162$0$20,235,090
95$34,669,496$1,545,158$0$22,189,035
96$38,104,959$1,520,045$0$24,339,832
97$41,887,664$1,490,526$0$26,707,535
98$46,052,928$1,456,285$0$29,314,240
99$50,639,670$1,416,986$0$32,184,303
100$55,690,775$1,372,277$0$35,344,564