Can I retire at age 55 with 993,000?

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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$82,001$81,271$80,558$79,862$79,183$77,175
2 years$40,595$39,839$39,106$38,395$37,706$35,696
3 years$26,794$26,035$25,304$24,600$23,922$21,973
4 years$19,895$19,138$18,415$17,723$17,062$15,188
5 years$15,757$15,005$14,291$13,613$12,970$11,178
6 years$12,999$12,253$11,549$10,886$10,263$8,553
7 years$11,030$10,290$9,597$8,950$8,346$6,720
8 years$9,554$8,820$8,139$7,508$6,924$5,380
9 years$8,406$7,680$7,010$6,395$5,831$4,368
10 years$7,489$6,769$6,112$5,513$4,968$3,584
11 years$6,739$6,026$5,381$4,798$4,273$2,966
12 years$6,114$5,409$4,775$4,208$3,703$2,471
13 years$5,586$4,888$4,266$3,715$3,229$2,069
14 years$5,133$4,443$3,833$3,298$2,831$1,741
15 years$4,742$4,059$3,461$2,941$2,492$1,469
16 years$4,399$3,724$3,138$2,634$2,203$1,244
17 years$4,098$3,429$2,855$2,366$1,953$1,056
18 years$3,830$3,169$2,607$2,132$1,737$898
19 years$3,590$2,937$2,386$1,927$1,548$765
20 years$3,375$2,729$2,190$1,745$1,383$653
21 years$3,180$2,542$2,014$1,584$1,237$558
22 years$3,004$2,373$1,857$1,440$1,109$477
23 years$2,843$2,219$1,714$1,312$995$409
24 years$2,695$2,079$1,585$1,196$895$350
25 years$2,560$1,951$1,468$1,092$805$300
26 years$2,435$1,834$1,362$999$725$257
27 years$2,320$1,726$1,265$914$654$221
28 years$2,213$1,626$1,176$838$590$190
29 years$2,114$1,534$1,094$768$533$163
30 years$2,021$1,449$1,019$705$481$140
31 years$1,935$1,370$950$647$435$120
32 years$1,854$1,296$886$595$394$103
33 years$1,778$1,227$828$547$356$89
34 years$1,707$1,163$773$503$323$76
35 years$1,640$1,103$723$463$292$66
36 years$1,577$1,047$676$427$265$56
37 years$1,518$995$633$393$240$49
38 years$1,461$945$593$362$218$42
39 years$1,408$899$555$334$197$36
40 years$1,358$855$521$308$179$31
41 years$1,310$814$488$284$162$27
42 years$1,264$775$458$262$147$23
43 years$1,221$739$430$242$134$20
44 years$1,180$704$403$224$121$17
45 years$1,141$671$379$207$110$15
46 years$1,103$641$356$191$100$13
47 years$1,067$611$334$176$91$11
48 years$1,033$584$314$163$82$9
49 years$1,001$557$295$151$75$8
50 years$970$532$277$139$68$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $993,000, adding $5,213 every year, while hoping to spend $55,941 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: 64/20/16 Blend
54$993,000$993,000$993,000$993,000
55$1,099,663$1,047,034$1,031,643$1,165,398
56$1,152,308$1,038,818$1,006,682$1,201,897
57$1,208,448$1,028,324$979,010$1,234,864
58$1,268,380$1,015,383$948,477$1,269,525
59$1,332,430$999,812$914,927$1,306,044
60$1,400,956$981,420$878,195$1,344,606
61$1,474,348$960,005$838,109$1,385,418
62$1,553,038$935,351$794,492$1,428,707
63$1,637,495$907,231$747,155$1,474,728
64$1,728,237$875,403$695,902$1,523,761
65$1,825,832$839,613$640,530$1,576,121
66$1,930,904$799,590$580,824$1,632,156
67$2,044,136$755,050$516,562$1,692,251
68$2,166,280$705,690$447,509$1,756,835
69$2,298,163$651,191$373,423$1,826,383
70$2,440,692$591,216$294,049$1,901,424
71$2,594,865$525,408$209,122$1,982,541
72$2,761,778$453,389$118,364$2,070,384
73$2,942,636$374,763$21,486$2,165,672
74$3,138,765$289,106$0$2,269,202
75$3,351,623$195,976$0$2,395,837
76$3,582,813$94,903$0$2,537,398
77$3,834,098$0$0$2,691,353
78$4,107,417$0$0$2,862,174
79$4,404,906$0$0$3,070,893
80$4,728,913$0$0$3,298,281
81$5,082,021$0$0$3,546,158
82$5,467,075$0$0$3,816,529
83$5,887,206$0$0$4,111,601
84$6,345,858$0$0$4,433,803
85$6,846,825$0$0$4,785,808
86$7,394,281$0$0$5,170,559
87$7,992,824$0$0$5,591,299
88$8,647,515$0$0$6,051,594
89$9,363,926$0$0$6,555,374
90$10,148,193$0$0$7,106,964
91$11,007,074$0$0$7,711,129
92$11,948,010$0$0$8,373,116
93$12,979,194$0$0$9,098,702
94$14,109,653$0$0$9,894,251
95$15,349,325$0$0$10,766,772
96$16,709,160$0$0$11,723,984
97$18,201,215$0$0$12,774,390
98$19,838,773$0$0$13,927,356
99$21,636,465$0$0$15,193,199
100$23,610,406$0$0$16,583,284