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%14.9%
1 years$48,144$47,715$47,296$46,888$46,489$45,551
2 years$23,833$23,390$22,959$22,542$22,138$21,196
3 years$15,731$15,285$14,856$14,443$14,045$13,130
4 years$11,681$11,236$10,812$10,405$10,017$9,135
5 years$9,251$8,809$8,390$7,992$7,615$6,769
6 years$7,632$7,194$6,781$6,392$6,025$5,217
7 years$6,476$6,041$5,635$5,255$4,900$4,129
8 years$5,609$5,178$4,779$4,408$4,065$3,331
9 years$4,935$4,509$4,116$3,755$3,423$2,725
10 years$4,397$3,974$3,588$3,237$2,917$2,254
11 years$3,956$3,538$3,159$2,817$2,509$1,881
12 years$3,590$3,176$2,804$2,471$2,174$1,580
13 years$3,279$2,870$2,505$2,181$1,896$1,335
14 years$3,014$2,609$2,251$1,936$1,662$1,133
15 years$2,784$2,383$2,032$1,727$1,463$965
16 years$2,583$2,186$1,842$1,546$1,293$825
17 years$2,406$2,013$1,676$1,389$1,147$707
18 years$2,248$1,861$1,530$1,252$1,020$607
19 years$2,108$1,724$1,401$1,131$909$522
20 years$1,981$1,602$1,286$1,025$812$450
21 years$1,867$1,493$1,183$930$726$388
22 years$1,764$1,393$1,090$845$651$335
23 years$1,669$1,303$1,006$770$584$290
24 years$1,583$1,221$931$702$525$251
25 years$1,503$1,146$862$641$473$217
26 years$1,430$1,077$800$586$426$188
27 years$1,362$1,013$742$537$384$163
28 years$1,299$955$690$492$346$142
29 years$1,241$901$642$451$313$123
30 years$1,187$851$598$414$283$107
31 years$1,136$804$558$380$256$93
32 years$1,089$761$520$349$231$81
33 years$1,044$721$486$321$209$70
34 years$1,002$683$454$296$189$61
35 years$963$648$424$272$172$53
36 years$926$615$397$251$155$46
37 years$891$584$372$231$141$40
38 years$858$555$348$213$128$35
39 years$827$528$326$196$116$30
40 years$797$502$306$181$105$26
41 years$769$478$287$167$95$23
42 years$742$455$269$154$86$20
43 years$717$434$252$142$78$17
44 years$693$413$237$131$71$15
45 years$670$394$222$121$65$13
46 years$648$376$209$112$59$11
47 years$627$359$196$104$53$10
48 years$607$343$184$96$48$9
49 years$588$327$173$88$44$8
50 years$569$313$163$82$40$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $583,000, adding $5,065 every year, while hoping to spend $35,932 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: 80/5/15 Blend
54$583,000$583,000$583,000$583,000
55$647,691$616,792$607,755$697,107
56$675,524$608,783$589,883$722,324
57$704,991$599,178$570,209$744,857
58$736,223$587,859$548,633$768,562
59$769,358$574,705$525,053$793,543
60$804,552$559,585$499,361$819,912
61$841,972$542,360$471,446$847,792
62$881,802$522,885$441,188$877,319
63$924,245$501,006$408,467$908,646
64$969,520$476,557$373,153$941,937
65$1,017,870$449,368$335,113$977,377
66$1,069,560$419,254$294,206$1,015,167
67$1,124,880$386,022$250,287$1,055,532
68$1,184,149$349,468$203,203$1,098,718
69$1,247,716$309,376$152,794$1,144,997
70$1,315,964$265,517$98,894$1,194,669
71$1,389,315$217,649$41,329$1,248,065
72$1,468,230$165,519$0$1,305,553
73$1,553,216$108,856$0$1,370,753
74$1,644,830$47,376$0$1,448,161
75$1,743,684$0$0$1,531,679
76$1,850,451$0$0$1,622,940
77$1,965,868$0$0$1,724,427
78$2,090,748$0$0$1,834,248
79$2,225,983$0$0$1,953,189
80$2,372,555$0$0$2,082,115
81$2,531,541$0$0$2,221,978
82$2,704,130$0$0$2,373,822
83$2,891,625$0$0$2,538,799
84$3,095,462$0$0$2,718,172
85$3,317,221$0$0$2,913,335
86$3,558,639$0$0$3,125,819
87$3,821,628$0$0$3,357,308
88$4,108,292$0$0$3,609,658
89$4,420,947$0$0$3,884,910
90$4,762,141$0$0$4,185,310
91$5,134,681$0$0$4,513,332
92$5,541,653$0$0$4,871,697
93$5,986,459$0$0$5,263,402
94$6,472,841$0$0$5,691,747
95$7,004,920$0$0$6,160,365
96$7,587,235$0$0$6,673,255
97$8,224,782$0$0$7,234,824
98$8,923,063$0$0$7,849,920
99$9,688,140$0$0$8,523,887
100$10,526,683$0$0$9,262,606