Can I retire at age 55 with 298,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $298,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$24,609$24,389$24,176$23,967$23,763$23,408
2 years$12,182$11,956$11,736$11,522$11,316$10,959
3 years$8,041$7,813$7,594$7,383$7,179$6,831
4 years$5,971$5,743$5,526$5,319$5,120$4,784
5 years$4,729$4,503$4,289$4,085$3,892$3,569
6 years$3,901$3,677$3,466$3,267$3,080$2,770
7 years$3,310$3,088$2,880$2,686$2,505$2,209
8 years$2,867$2,647$2,443$2,253$2,078$1,795
9 years$2,523$2,305$2,104$1,919$1,750$1,480
10 years$2,247$2,031$1,834$1,654$1,491$1,234
11 years$2,022$1,808$1,615$1,440$1,282$1,038
12 years$1,835$1,623$1,433$1,263$1,111$880
13 years$1,676$1,467$1,280$1,115$969$750
14 years$1,541$1,333$1,150$990$849$642
15 years$1,423$1,218$1,039$883$748$552
16 years$1,320$1,118$942$790$661$476
17 years$1,230$1,029$857$710$586$411
18 years$1,149$951$782$640$521$357
19 years$1,077$881$716$578$464$310
20 years$1,013$819$657$524$415$270
21 years$954$763$604$475$371$235
22 years$901$712$557$432$333$205
23 years$853$666$514$394$299$179
24 years$809$624$476$359$269$157
25 years$768$586$441$328$242$137
26 years$731$550$409$300$218$120
27 years$696$518$379$274$196$105
28 years$664$488$353$251$177$92
29 years$634$460$328$231$160$81
30 years$607$435$306$212$144$71
31 years$581$411$285$194$131$62
32 years$556$389$266$179$118$55
33 years$534$368$248$164$107$48
34 years$512$349$232$151$97$42
35 years$492$331$217$139$88$37
36 years$473$314$203$128$79$33
37 years$455$299$190$118$72$29
38 years$439$284$178$109$65$25
39 years$423$270$167$100$59$22
40 years$407$257$156$93$54$20
41 years$393$244$146$85$49$17
42 years$379$233$137$79$44$15
43 years$366$222$129$73$40$13
44 years$354$211$121$67$36$12
45 years$342$202$114$62$33$10
46 years$331$192$107$57$30$9
47 years$320$183$100$53$27$8
48 years$310$175$94$49$25$7
49 years$300$167$89$45$22$6
50 years$291$160$83$42$20$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $298,000, adding $6,288 every year, while hoping to spend $23,028 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: 48/30/22 Blend
54$298,000$298,000$298,000$298,000
55$334,882$319,088$314,469$348,596
56$344,538$310,222$300,502$349,939
57$354,408$300,149$285,296$348,587
58$364,488$288,787$268,783$346,646
59$374,775$276,047$250,897$344,069
60$385,264$261,835$231,564$340,810
61$395,950$246,054$210,710$336,816
62$406,824$228,598$188,256$332,033
63$417,878$209,357$164,120$326,403
64$429,100$188,214$138,217$319,864
65$440,477$165,046$110,457$312,350
66$451,995$139,722$80,746$303,790
67$463,635$112,105$48,988$294,110
68$475,377$82,049$15,080$283,230
69$487,197$49,401$0$271,065
70$499,068$13,998$0$262,479
71$510,958$0$0$256,519
72$522,831$0$0$257,600
73$534,648$0$0$263,254
74$546,363$0$0$268,834
75$557,923$0$0$274,314
76$569,272$0$0$279,662
77$580,343$0$0$284,842
78$591,063$0$0$289,815
79$601,350$0$0$294,537
80$611,110$0$0$298,958
81$620,242$0$0$303,023
82$628,629$0$0$306,670
83$636,143$0$0$309,830
84$642,640$0$0$312,427
85$647,961$0$0$314,375
86$651,927$0$0$315,580
87$654,341$0$0$315,935
88$654,983$0$0$315,323
89$653,607$0$0$313,615
90$649,944$0$0$310,665
91$643,691$0$0$306,315
92$634,516$0$0$300,385
93$622,048$0$0$292,679
94$605,876$0$0$282,980
95$585,546$0$0$271,045
96$560,557$0$0$256,607
97$530,349$0$0$239,372
98$494,308$0$0$219,011
99$451,751$0$0$195,163
100$401,925$0$0$167,427