Can I retire at age 55 with 583,000?

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 $583,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$48,144$47,715$47,296$46,888$46,489$45,663
2 years$23,833$23,390$22,959$22,542$22,138$21,308
3 years$15,731$15,285$14,856$14,443$14,045$13,238
4 years$11,681$11,236$10,812$10,405$10,017$9,238
5 years$9,251$8,809$8,390$7,992$7,615$6,867
6 years$7,632$7,194$6,781$6,392$6,025$5,309
7 years$6,476$6,041$5,635$5,255$4,900$4,216
8 years$5,609$5,178$4,779$4,408$4,065$3,413
9 years$4,935$4,509$4,116$3,755$3,423$2,803
10 years$4,397$3,974$3,588$3,237$2,917$2,327
11 years$3,956$3,538$3,159$2,817$2,509$1,949
12 years$3,590$3,176$2,804$2,471$2,174$1,644
13 years$3,279$2,870$2,505$2,181$1,896$1,394
14 years$3,014$2,609$2,251$1,936$1,662$1,188
15 years$2,784$2,383$2,032$1,727$1,463$1,016
16 years$2,583$2,186$1,842$1,546$1,293$872
17 years$2,406$2,013$1,676$1,389$1,147$751
18 years$2,248$1,861$1,530$1,252$1,020$647
19 years$2,108$1,724$1,401$1,131$909$559
20 years$1,981$1,602$1,286$1,025$812$484
21 years$1,867$1,493$1,183$930$726$420
22 years$1,764$1,393$1,090$845$651$364
23 years$1,669$1,303$1,006$770$584$317
24 years$1,583$1,221$931$702$525$275
25 years$1,503$1,146$862$641$473$240
26 years$1,430$1,077$800$586$426$209
27 years$1,362$1,013$742$537$384$182
28 years$1,299$955$690$492$346$158
29 years$1,241$901$642$451$313$138
30 years$1,187$851$598$414$283$121
31 years$1,136$804$558$380$256$105
32 years$1,089$761$520$349$231$92
33 years$1,044$721$486$321$209$80
34 years$1,002$683$454$296$189$70
35 years$963$648$424$272$172$61
36 years$926$615$397$251$155$54
37 years$891$584$372$231$141$47
38 years$858$555$348$213$128$41
39 years$827$528$326$196$116$36
40 years$797$502$306$181$105$31
41 years$769$478$287$167$95$27
42 years$742$455$269$154$86$24
43 years$717$434$252$142$78$21
44 years$693$413$237$131$71$18
45 years$670$394$222$121$65$16
46 years$648$376$209$112$59$14
47 years$627$359$196$104$53$12
48 years$607$343$184$96$48$11
49 years$588$327$173$88$44$9
50 years$569$313$163$82$40$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $583,000, adding $3,413 every year, while hoping to spend $21,179 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: 72/11/17 Blend
54$583,000$583,000$583,000$583,000
55$645,987$615,088$606,051$689,709
56$689,343$622,693$603,819$726,797
57$736,412$629,960$600,803$764,512
58$787,549$636,852$596,954$805,268
59$843,148$643,326$592,220$849,361
60$903,638$649,339$586,549$897,120
61$969,495$654,842$579,884$948,905
62$1,041,241$659,786$572,167$1,005,116
63$1,119,449$664,118$563,337$1,066,190
64$1,204,753$667,779$553,328$1,132,612
65$1,297,848$670,711$542,075$1,204,916
66$1,399,500$672,847$529,507$1,283,688
67$1,510,553$674,121$515,549$1,369,579
68$1,631,935$674,458$500,125$1,463,301
69$1,764,668$673,782$483,155$1,565,645
70$1,909,878$672,011$464,554$1,677,477
71$2,068,803$669,057$444,234$1,799,756
72$2,242,808$664,828$422,103$1,933,538
73$2,433,395$659,226$398,065$2,079,986
74$2,642,220$652,147$372,019$2,240,385
75$2,871,105$643,480$343,860$2,416,149
76$3,122,056$633,109$313,478$2,608,837
77$3,397,285$620,910$280,758$2,820,170
78$3,699,225$606,752$245,581$3,052,042
79$4,030,559$590,496$207,820$3,306,544
80$4,394,240$571,995$167,347$3,585,980
81$4,793,523$551,092$124,023$3,892,889
82$5,231,991$527,625$77,706$4,230,072
83$5,713,593$501,417$28,248$4,600,615
84$6,242,678$472,286$0$5,007,921
85$6,824,039$440,035$0$5,460,191
86$7,462,954$404,459$0$5,962,867
87$8,165,238$365,340$0$6,515,409
88$8,937,298$322,448$0$7,122,874
89$9,786,194$275,539$0$7,790,835
90$10,719,701$224,357$0$8,525,431
91$11,746,389$168,629$0$9,333,430
92$12,875,697$108,068$0$10,222,289
93$14,118,027$42,372$0$11,200,224
94$15,484,838$0$0$12,276,293
95$16,988,757$0$0$13,463,957
96$18,643,697$0$0$14,776,561
97$20,464,986$0$0$16,221,138
98$22,469,516$0$0$17,811,089
99$24,675,895$0$0$19,561,179
100$27,104,632$0$0$21,487,680