Can I retire at age 55 with 992,000?

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 $992,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$81,918$81,189$80,477$79,782$79,103$76,085
2 years$40,554$39,798$39,066$38,357$37,668$34,663
3 years$26,767$26,009$25,279$24,576$23,898$21,000
4 years$19,875$19,119$18,396$17,705$17,044$14,276
5 years$15,741$14,990$14,276$13,599$12,957$10,325
6 years$12,986$12,240$11,537$10,876$10,252$7,759
7 years$11,019$10,279$9,588$8,941$8,338$5,983
8 years$9,544$8,811$8,131$7,501$6,917$4,697
9 years$8,398$7,672$7,003$6,389$5,825$3,738
10 years$7,481$6,762$6,106$5,507$4,963$3,004
11 years$6,732$6,020$5,375$4,793$4,269$2,434
12 years$6,108$5,403$4,770$4,204$3,699$1,983
13 years$5,580$4,883$4,262$3,712$3,226$1,624
14 years$5,128$4,439$3,829$3,295$2,828$1,335
15 years$4,737$4,055$3,458$2,938$2,490$1,101
16 years$4,395$3,720$3,135$2,631$2,200$911
17 years$4,093$3,426$2,852$2,364$1,951$754
18 years$3,826$3,166$2,604$2,130$1,735$626
19 years$3,587$2,934$2,384$1,925$1,546$520
20 years$3,371$2,726$2,188$1,743$1,381$433
21 years$3,177$2,540$2,012$1,582$1,236$361
22 years$3,001$2,371$1,855$1,439$1,108$301
23 years$2,840$2,217$1,712$1,310$994$251
24 years$2,693$2,077$1,584$1,195$894$209
25 years$2,558$1,950$1,467$1,091$804$175
26 years$2,433$1,832$1,360$998$725$146
27 years$2,318$1,724$1,263$913$653$122
28 years$2,211$1,625$1,174$837$589$102
29 years$2,112$1,533$1,093$767$532$85
30 years$2,019$1,448$1,018$704$481$71
31 years$1,933$1,368$949$647$435$60
32 years$1,852$1,295$885$594$393$50
33 years$1,777$1,226$827$547$356$42
34 years$1,705$1,162$772$503$322$35
35 years$1,639$1,102$722$463$292$29
36 years$1,576$1,046$676$426$264$24
37 years$1,516$994$632$393$240$20
38 years$1,460$944$592$362$217$17
39 years$1,407$898$555$334$197$14
40 years$1,356$854$520$308$179$12
41 years$1,308$813$488$284$162$10
42 years$1,263$775$457$262$147$8
43 years$1,220$738$429$242$134$7
44 years$1,179$703$403$224$121$6
45 years$1,139$671$378$206$110$5
46 years$1,102$640$355$191$100$4
47 years$1,066$611$334$176$91$3
48 years$1,032$583$314$163$82$3
49 years$1,000$557$295$150$75$2
50 years$969$532$277$139$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $992,000, adding $5,014 every year, while hoping to spend $57,797 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: 36/42/22 Blend
54$992,000$992,000$992,000$992,000
55$1,098,356$1,045,780$1,030,404$1,130,438
56$1,148,893$1,035,528$1,003,427$1,144,148
57$1,202,647$1,022,836$973,609$1,153,227
58$1,259,886$1,007,524$940,794$1,161,857
59$1,320,903$989,401$904,819$1,170,032
60$1,386,017$968,264$865,512$1,177,752
61$1,455,580$943,898$822,696$1,185,021
62$1,529,976$916,076$776,184$1,191,848
63$1,609,628$884,557$725,780$1,198,251
64$1,694,997$849,088$671,280$1,204,256
65$1,786,591$809,397$612,473$1,209,896
66$1,884,967$765,201$549,134$1,215,216
67$1,990,735$716,198$481,032$1,220,273
68$2,104,568$662,070$407,924$1,225,139
69$2,227,201$602,478$329,557$1,229,898
70$2,359,443$537,067$245,665$1,234,656
71$2,502,184$465,461$155,972$1,239,535
72$2,656,400$387,262$60,190$1,244,684
73$2,823,164$302,049$0$1,250,275
74$3,003,656$209,379$0$1,266,373
75$3,199,173$108,782$0$1,299,067
76$3,411,140$0$0$1,334,559
77$3,641,127$0$0$1,373,351
78$3,890,856$0$0$1,470,182
79$4,162,226$0$0$1,575,528
80$4,457,322$0$0$1,690,214
81$4,778,440$0$0$1,815,148
82$5,128,106$0$0$1,951,330
83$5,509,100$0$0$2,099,860
84$5,924,479$0$0$2,261,949
85$6,377,611$0$0$2,438,931
86$6,872,200$0$0$2,632,272
87$7,412,326$0$0$2,843,587
88$8,002,478$0$0$3,074,656
89$8,647,600$0$0$3,327,436
90$9,353,134$0$0$3,604,083
91$10,125,072$0$0$3,906,972
92$10,970,012$0$0$4,238,716
93$11,895,219$0$0$4,602,196
94$12,908,695$0$0$5,000,580
95$14,019,251$0$0$5,437,362
96$15,236,590$0$0$5,916,388
97$16,571,400$0$0$6,441,893
98$18,035,452$0$0$7,018,544
99$19,641,711$0$0$7,651,480
100$21,404,458$0$0$8,346,362