Can I retire at age 55 with 424,000?

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 $424,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$35,014$34,702$34,397$34,100$33,810$32,807
2 years$17,333$17,011$16,698$16,394$16,100$15,098
3 years$11,441$11,117$10,805$10,504$10,215$9,244
4 years$8,495$8,172$7,863$7,568$7,285$6,354
5 years$6,728$6,407$6,102$5,813$5,538$4,649
6 years$5,551$5,232$4,931$4,648$4,382$3,536
7 years$4,710$4,394$4,098$3,822$3,564$2,761
8 years$4,079$3,766$3,475$3,206$2,957$2,196
9 years$3,589$3,279$2,993$2,731$2,490$1,771
10 years$3,198$2,890$2,610$2,354$2,121$1,444
11 years$2,877$2,573$2,298$2,049$1,825$1,186
12 years$2,611$2,309$2,039$1,797$1,581$981
13 years$2,385$2,087$1,822$1,586$1,379$816
14 years$2,192$1,897$1,637$1,408$1,209$681
15 years$2,025$1,733$1,478$1,256$1,064$570
16 years$1,878$1,590$1,340$1,125$940$479
17 years$1,750$1,464$1,219$1,010$834$403
18 years$1,635$1,353$1,113$911$741$340
19 years$1,533$1,254$1,019$823$661$288
20 years$1,441$1,165$935$745$590$243
21 years$1,358$1,085$860$676$528$206
22 years$1,283$1,013$793$615$474$175
23 years$1,214$948$732$560$425$148
24 years$1,151$888$677$511$382$126
25 years$1,093$833$627$466$344$107
26 years$1,040$783$581$426$310$91
27 years$991$737$540$390$279$77
28 years$945$694$502$358$252$66
29 years$903$655$467$328$227$56
30 years$863$619$435$301$206$48
31 years$826$585$406$276$186$41
32 years$792$553$378$254$168$35
33 years$759$524$353$234$152$29
34 years$729$497$330$215$138$25
35 years$700$471$309$198$125$21
36 years$673$447$289$182$113$18
37 years$648$425$270$168$102$16
38 years$624$404$253$155$93$13
39 years$601$384$237$143$84$11
40 years$580$365$222$132$76$10
41 years$559$348$208$121$69$8
42 years$540$331$195$112$63$7
43 years$521$315$183$103$57$6
44 years$504$301$172$96$52$5
45 years$487$287$162$88$47$4
46 years$471$274$152$81$43$4
47 years$456$261$143$75$39$3
48 years$441$249$134$70$35$3
49 years$427$238$126$64$32$2
50 years$414$227$118$59$29$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $424,000, adding $4,714 every year, while hoping to spend $26,723 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: 60/35/5 Blend
54$424,000$424,000$424,000$424,000
55$472,110$449,638$443,066$499,751
56$491,833$443,238$429,476$512,403
57$512,671$435,628$414,535$522,687
58$534,711$426,721$398,169$533,218
59$558,046$416,425$380,302$544,020
60$582,778$404,641$360,854$555,120
61$609,019$391,266$339,740$566,550
62$636,891$376,190$316,873$578,345
63$666,526$359,296$292,161$590,547
64$698,072$340,461$265,509$603,202
65$731,688$319,556$236,816$616,362
66$767,548$296,443$205,977$630,088
67$805,845$270,975$172,884$644,447
68$846,788$243,000$137,423$659,516
69$890,608$212,355$99,474$675,382
70$937,557$178,867$58,914$692,141
71$987,913$142,357$15,612$709,904
72$1,041,978$102,630$0$728,794
73$1,100,087$59,487$0$750,584
74$1,162,606$12,711$0$774,791
75$1,229,936$0$0$800,764
76$1,302,520$0$0$843,314
77$1,380,842$0$0$894,536
78$1,465,435$0$0$949,887
79$1,556,884$0$0$1,009,753
80$1,655,833$0$0$1,074,559
81$1,762,990$0$0$1,144,772
82$1,879,132$0$0$1,220,906
83$2,005,114$0$0$1,303,526
84$2,141,877$0$0$1,393,253
85$2,290,456$0$0$1,490,770
86$2,451,988$0$0$1,596,829
87$2,627,726$0$0$1,712,257
88$2,819,046$0$0$1,837,965
89$3,027,465$0$0$1,974,953
90$3,254,650$0$0$2,124,323
91$3,502,437$0$0$2,287,289
92$3,772,846$0$0$2,465,185
93$4,068,102$0$0$2,659,481
94$4,390,652$0$0$2,871,795
95$4,743,192$0$0$3,103,909
96$5,128,688$0$0$3,357,782
97$5,550,409$0$0$3,635,574
98$6,011,951$0$0$3,939,663
99$6,517,275$0$0$4,272,667
100$7,070,744$0$0$4,637,469