Can I retire at age 55 with 284,000?

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 $284,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$23,452$23,244$23,040$22,841$22,647$22,438
2 years$11,610$11,394$11,184$10,981$10,784$10,574
3 years$7,663$7,446$7,237$7,036$6,842$6,637
4 years$5,690$5,474$5,267$5,069$4,880$4,681
5 years$4,507$4,291$4,087$3,893$3,709$3,518
6 years$3,718$3,504$3,303$3,114$2,935$2,751
7 years$3,155$2,943$2,745$2,560$2,387$2,210
8 years$2,732$2,523$2,328$2,147$1,980$1,811
9 years$2,404$2,196$2,005$1,829$1,668$1,506
10 years$2,142$1,936$1,748$1,577$1,421$1,266
11 years$1,927$1,723$1,539$1,372$1,222$1,075
12 years$1,749$1,547$1,366$1,204$1,059$919
13 years$1,598$1,398$1,220$1,063$923$790
14 years$1,468$1,271$1,096$943$810$683
15 years$1,356$1,161$990$841$713$592
16 years$1,258$1,065$897$753$630$516
17 years$1,172$981$817$677$559$450
18 years$1,095$906$745$610$497$394
19 years$1,027$840$682$551$443$346
20 years$965$781$626$499$395$304
21 years$910$727$576$453$354$268
22 years$859$679$531$412$317$236
23 years$813$635$490$375$285$209
24 years$771$595$453$342$256$184
25 years$732$558$420$312$230$163
26 years$697$525$389$286$207$145
27 years$664$494$362$261$187$128
28 years$633$465$336$240$169$114
29 years$605$439$313$220$152$101
30 years$578$414$291$202$138$89
31 years$553$392$272$185$124$79
32 years$530$371$253$170$113$71
33 years$509$351$237$156$102$63
34 years$488$333$221$144$92$56
35 years$469$316$207$133$84$50
36 years$451$300$193$122$76$44
37 years$434$284$181$112$69$39
38 years$418$270$170$104$62$35
39 years$403$257$159$96$56$31
40 years$388$245$149$88$51$28
41 years$375$233$140$81$46$25
42 years$362$222$131$75$42$22
43 years$349$211$123$69$38$20
44 years$337$201$115$64$35$17
45 years$326$192$108$59$32$15
46 years$316$183$102$55$29$14
47 years$305$175$96$50$26$12
48 years$296$167$90$47$24$11
49 years$286$159$84$43$21$10
50 years$277$152$79$40$19$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $284,000, adding $3,928 every year, while hoping to spend $20,546 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: 60/15/25 Blend
54$284,000$284,000$284,000$284,000
55$317,020$301,968$297,566$333,700
56$327,495$294,903$285,673$338,435
57$338,350$286,804$272,694$341,038
58$349,602$277,598$258,570$343,434
59$361,269$267,208$243,239$345,609
60$373,370$255,553$226,640$347,546
61$385,926$242,547$208,704$349,227
62$398,959$228,100$189,364$350,636
63$412,492$212,116$168,547$351,753
64$426,549$194,493$146,176$352,561
65$441,157$175,123$122,173$353,039
66$456,346$153,895$96,457$353,166
67$472,144$130,687$68,939$352,923
68$488,586$105,373$39,531$352,287
69$505,705$77,820$8,139$351,237
70$523,540$47,886$0$349,750
71$542,131$15,423$0$354,568
72$561,522$0$0$361,659
73$581,760$0$0$372,111
74$602,895$0$0$385,690
75$624,982$0$0$399,887
76$648,081$0$0$414,740
77$672,256$0$0$430,290
78$697,576$0$0$446,584
79$724,116$0$0$463,671
80$751,958$0$0$481,604
81$781,190$0$0$500,441
82$811,909$0$0$520,246
83$844,219$0$0$541,086
84$878,233$0$0$563,038
85$914,076$0$0$586,181
86$951,882$0$0$610,605
87$991,798$0$0$636,406
88$1,033,985$0$0$663,689
89$1,078,616$0$0$692,570
90$1,125,885$0$0$723,175
91$1,175,997$0$0$755,640
92$1,229,183$0$0$790,115
93$1,285,690$0$0$826,765
94$1,345,791$0$0$865,769
95$1,409,785$0$0$907,324
96$1,477,998$0$0$951,644
97$1,550,788$0$0$998,966
98$1,628,547$0$0$1,049,548
99$1,711,703$0$0$1,103,673
100$1,800,729$0$0$1,161,652