Can I retire at age 55 with 998,000?

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 $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$82,414$81,680$80,964$80,265$79,582$78,231
2 years$40,799$40,039$39,303$38,589$37,896$36,540
3 years$26,929$26,166$25,431$24,724$24,043$22,723
4 years$19,996$19,235$18,508$17,812$17,148$15,874
5 years$15,837$15,080$14,363$13,682$13,035$11,812
6 years$13,065$12,314$11,607$10,941$10,314$9,142
7 years$11,086$10,341$9,646$8,995$8,388$7,268
8 years$9,602$8,865$8,180$7,546$6,959$5,890
9 years$8,449$7,718$7,046$6,428$5,860$4,843
10 years$7,527$6,803$6,143$5,541$4,993$4,026
11 years$6,773$6,056$5,408$4,822$4,294$3,376
12 years$6,145$5,436$4,799$4,230$3,722$2,851
13 years$5,614$4,913$4,288$3,734$3,245$2,421
14 years$5,159$4,465$3,853$3,315$2,845$2,066
15 years$4,766$4,079$3,478$2,956$2,505$1,770
16 years$4,422$3,743$3,154$2,647$2,214$1,521
17 years$4,118$3,447$2,870$2,378$1,963$1,311
18 years$3,849$3,185$2,620$2,143$1,745$1,132
19 years$3,608$2,952$2,398$1,937$1,556$980
20 years$3,392$2,743$2,201$1,754$1,389$849
21 years$3,196$2,555$2,024$1,592$1,243$737
22 years$3,019$2,385$1,866$1,447$1,115$641
23 years$2,857$2,231$1,723$1,318$1,000$558
24 years$2,709$2,090$1,593$1,202$899$486
25 years$2,573$1,961$1,476$1,098$809$423
26 years$2,448$1,843$1,369$1,004$729$369
27 years$2,332$1,735$1,271$919$657$322
28 years$2,224$1,635$1,181$842$593$282
29 years$2,124$1,542$1,099$772$535$246
30 years$2,031$1,456$1,024$709$484$215
31 years$1,945$1,377$955$651$437$188
32 years$1,863$1,303$891$598$396$164
33 years$1,787$1,234$832$550$358$144
34 years$1,716$1,169$777$506$324$126
35 years$1,648$1,109$727$466$294$110
36 years$1,585$1,053$680$429$266$96
37 years$1,525$1,000$636$395$241$84
38 years$1,469$950$596$364$219$74
39 years$1,415$903$558$336$198$65
40 years$1,364$860$523$310$180$57
41 years$1,316$818$491$286$163$50
42 years$1,271$779$460$264$148$43
43 years$1,227$742$432$244$134$38
44 years$1,186$708$405$225$122$33
45 years$1,146$675$381$208$111$29
46 years$1,109$644$357$192$101$26
47 years$1,073$614$336$177$91$22
48 years$1,039$587$316$164$83$20
49 years$1,006$560$297$151$75$17
50 years$974$535$279$140$68$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $998,000, adding $6,108 every year, while hoping to spend $56,878 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: 54/22/24 Blend
54$998,000$998,000$998,000$998,000
55$1,106,096$1,053,202$1,037,733$1,158,208
56$1,158,400$1,044,292$1,011,980$1,185,826
57$1,214,133$1,033,038$983,457$1,209,461
58$1,273,584$1,019,266$952,012$1,234,006
59$1,337,071$1,002,792$917,486$1,259,570
60$1,404,942$983,417$879,711$1,286,272
61$1,477,577$960,936$838,512$1,314,248
62$1,555,395$935,127$793,707$1,343,651
63$1,638,854$905,757$745,105$1,374,652
64$1,728,457$872,579$692,507$1,407,445
65$1,824,756$835,332$635,703$1,442,246
66$1,928,359$793,741$574,476$1,479,298
67$2,039,929$747,511$508,598$1,518,875
68$2,160,198$696,336$437,832$1,561,279
69$2,289,968$639,886$361,930$1,606,853
70$2,430,122$577,818$280,632$1,655,978
71$2,581,629$509,766$193,668$1,709,078
72$2,745,554$435,343$100,755$1,766,630
73$2,923,069$354,143$1,598$1,829,162
74$3,115,460$265,734$0$1,897,266
75$3,324,144$169,662$0$1,998,288
76$3,550,677$65,446$0$2,108,444
77$3,796,771$0$0$2,228,225
78$4,064,311$0$0$2,370,109
79$4,355,368$0$0$2,541,784
80$4,672,223$0$0$2,728,763
81$5,017,384$0$0$2,932,536
82$5,393,613$0$0$3,154,746
83$5,803,947$0$0$3,397,199
84$6,251,731$0$0$3,661,883
85$6,740,646$0$0$3,950,987
86$7,274,744$0$0$4,266,921
87$7,858,487$0$0$4,612,337
88$8,496,786$0$0$4,990,157
89$9,195,048$0$0$5,403,597
90$9,959,229$0$0$5,856,197
91$10,795,883$0$0$6,351,858
92$11,712,232$0$0$6,894,873
93$12,716,226$0$0$7,489,973
94$13,816,623$0$0$8,142,365
95$15,023,065$0$0$8,857,786
96$16,346,174$0$0$9,642,554
97$17,797,649$0$0$10,503,629
98$19,390,375$0$0$11,448,676
99$21,138,547$0$0$12,486,138
100$23,057,798$0$0$13,625,317