Can I retire at age 55 with 583,000?

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 $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%14.6%
1 years$48,144$47,715$47,296$46,888$46,489$45,607
2 years$23,833$23,390$22,959$22,542$22,138$21,252
3 years$15,731$15,285$14,856$14,443$14,045$13,184
4 years$11,681$11,236$10,812$10,405$10,017$9,187
5 years$9,251$8,809$8,390$7,992$7,615$6,818
6 years$7,632$7,194$6,781$6,392$6,025$5,263
7 years$6,476$6,041$5,635$5,255$4,900$4,172
8 years$5,609$5,178$4,779$4,408$4,065$3,372
9 years$4,935$4,509$4,116$3,755$3,423$2,764
10 years$4,397$3,974$3,588$3,237$2,917$2,291
11 years$3,956$3,538$3,159$2,817$2,509$1,915
12 years$3,590$3,176$2,804$2,471$2,174$1,612
13 years$3,279$2,870$2,505$2,181$1,896$1,364
14 years$3,014$2,609$2,251$1,936$1,662$1,160
15 years$2,784$2,383$2,032$1,727$1,463$990
16 years$2,583$2,186$1,842$1,546$1,293$848
17 years$2,406$2,013$1,676$1,389$1,147$728
18 years$2,248$1,861$1,530$1,252$1,020$627
19 years$2,108$1,724$1,401$1,131$909$540
20 years$1,981$1,602$1,286$1,025$812$467
21 years$1,867$1,493$1,183$930$726$404
22 years$1,764$1,393$1,090$845$651$350
23 years$1,669$1,303$1,006$770$584$303
24 years$1,583$1,221$931$702$525$263
25 years$1,503$1,146$862$641$473$228
26 years$1,430$1,077$800$586$426$198
27 years$1,362$1,013$742$537$384$172
28 years$1,299$955$690$492$346$150
29 years$1,241$901$642$451$313$130
30 years$1,187$851$598$414$283$114
31 years$1,136$804$558$380$256$99
32 years$1,089$761$520$349$231$86
33 years$1,044$721$486$321$209$75
34 years$1,002$683$454$296$189$65
35 years$963$648$424$272$172$57
36 years$926$615$397$251$155$50
37 years$891$584$372$231$141$43
38 years$858$555$348$213$128$38
39 years$827$528$326$196$116$33
40 years$797$502$306$181$105$29
41 years$769$478$287$167$95$25
42 years$742$455$269$154$86$22
43 years$717$434$252$142$78$19
44 years$693$413$237$131$71$17
45 years$670$394$222$121$65$14
46 years$648$376$209$112$59$13
47 years$627$359$196$104$53$11
48 years$607$343$184$96$48$10
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 $5,411 every year, while hoping to spend $46,500 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: 48/37/15 Blend
54$583,000$583,000$583,000$583,000
55$648,047$617,148$608,112$676,195
56$664,673$597,913$579,008$676,982
57$681,435$576,177$547,371$672,620
58$698,300$551,768$513,066$666,865
59$715,226$524,504$475,954$659,603
60$732,169$494,195$435,888$650,713
61$749,076$460,636$392,715$640,065
62$765,887$423,612$346,277$627,519
63$782,536$382,897$296,405$612,927
64$798,946$338,251$242,927$596,128
65$815,033$289,420$185,659$576,951
66$830,701$236,136$124,413$555,211
67$845,841$178,115$58,990$530,711
68$860,334$115,060$0$503,240
69$874,044$46,654$0$474,303
70$886,819$0$0$452,110
71$898,492$0$0$438,157
72$908,874$0$0$442,480
73$917,756$0$0$445,972
74$924,902$0$0$448,508
75$930,054$0$0$449,950
76$932,922$0$0$450,144
77$933,185$0$0$448,918
78$930,485$0$0$446,082
79$924,426$0$0$441,425
80$914,569$0$0$434,713
81$900,426$0$0$425,686
82$881,457$0$0$414,058
83$857,061$0$0$399,510
84$826,577$0$0$381,689
85$789,270$0$0$360,205
86$744,326$0$0$334,627
87$690,846$0$0$304,477
88$627,836$0$0$269,227
89$554,193$0$0$228,292
90$468,702$0$0$181,028
91$370,018$0$0$126,721
92$256,653$0$0$64,582
93$126,965$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0