Can I retire at age 55 with 586,000?

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 $586,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$48,391$47,960$47,540$47,129$46,728$45,673
2 years$23,956$23,510$23,078$22,658$22,252$21,194
3 years$15,812$15,364$14,933$14,517$14,117$13,090
4 years$11,741$11,294$10,867$10,459$10,069$9,080
5 years$9,299$8,855$8,433$8,033$7,654$6,707
6 years$7,671$7,231$6,815$6,424$6,056$5,152
7 years$6,509$6,072$5,664$5,282$4,925$4,064
8 years$5,638$5,205$4,803$4,431$4,086$3,267
9 years$4,961$4,532$4,137$3,774$3,441$2,663
10 years$4,419$3,995$3,607$3,253$2,932$2,195
11 years$3,977$3,556$3,175$2,831$2,522$1,825
12 years$3,608$3,192$2,818$2,483$2,185$1,527
13 years$3,296$2,885$2,518$2,193$1,906$1,285
14 years$3,029$2,622$2,262$1,946$1,670$1,086
15 years$2,798$2,395$2,042$1,736$1,471$921
16 years$2,596$2,198$1,852$1,554$1,300$784
17 years$2,418$2,024$1,685$1,396$1,153$669
18 years$2,260$1,870$1,538$1,258$1,025$572
19 years$2,119$1,733$1,408$1,137$913$490
20 years$1,992$1,611$1,292$1,030$816$420
21 years$1,877$1,500$1,189$935$730$361
22 years$1,773$1,400$1,096$850$654$310
23 years$1,678$1,310$1,012$774$587$267
24 years$1,591$1,227$936$706$528$230
25 years$1,511$1,152$866$645$475$198
26 years$1,437$1,082$804$589$428$171
27 years$1,369$1,019$746$540$386$148
28 years$1,306$960$694$494$348$127
29 years$1,247$905$646$453$314$110
30 years$1,193$855$601$416$284$95
31 years$1,142$808$561$382$257$82
32 years$1,094$765$523$351$232$71
33 years$1,049$724$488$323$210$61
34 years$1,007$687$456$297$190$53
35 years$968$651$427$274$172$46
36 years$931$618$399$252$156$40
37 years$896$587$374$232$142$34
38 years$862$558$350$214$128$30
39 years$831$530$328$197$116$26
40 years$801$505$307$182$106$22
41 years$773$480$288$168$96$19
42 years$746$458$270$155$87$17
43 years$721$436$254$143$79$14
44 years$696$416$238$132$72$13
45 years$673$396$223$122$65$11
46 years$651$378$210$113$59$9
47 years$630$361$197$104$54$8
48 years$610$344$185$96$49$7
49 years$591$329$174$89$44$6
50 years$572$314$164$82$40$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $586,000, adding $2,428 every year, while hoping to spend $35,191 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: 69/23/8 Blend
54$586,000$586,000$586,000$586,000
55$648,276$617,218$608,135$691,922
56$676,958$610,019$591,065$713,951
57$707,385$601,288$572,243$733,524
58$739,699$590,912$551,574$753,986
59$774,055$578,773$528,958$775,416
60$810,620$564,744$504,290$797,904
61$849,579$548,693$477,460$821,550
62$891,136$530,478$448,354$846,463
63$935,510$509,950$416,852$872,767
64$982,945$486,950$382,830$900,597
65$1,033,707$461,312$346,156$930,105
66$1,088,087$432,859$306,694$961,458
67$1,146,405$401,403$264,303$994,844
68$1,209,014$366,746$218,831$1,030,469
69$1,276,297$328,680$170,126$1,068,563
70$1,348,677$286,984$118,024$1,109,381
71$1,426,620$241,424$62,355$1,153,205
72$1,510,635$191,753$2,944$1,200,351
73$1,601,282$137,712$0$1,251,165
74$1,699,177$79,024$0$1,311,194
75$1,804,996$15,399$0$1,376,310
76$1,919,482$0$0$1,446,750
77$2,043,453$0$0$1,536,592
78$2,177,807$0$0$1,638,210
79$2,323,531$0$0$1,748,456
80$2,481,712$0$0$1,868,157
81$2,653,544$0$0$1,998,221
82$2,840,343$0$0$2,139,645
83$3,043,553$0$0$2,293,529
84$3,264,766$0$0$2,461,082
85$3,505,732$0$0$2,643,634
86$3,768,377$0$0$2,842,649
87$4,054,822$0$0$3,059,739
88$4,367,399$0$0$3,296,677
89$4,708,676$0$0$3,555,416
90$5,081,482$0$0$3,838,103
91$5,488,929$0$0$4,147,106
92$5,934,443$0$0$4,485,029
93$6,421,797$0$0$4,854,740
94$6,955,145$0$0$5,259,398
95$7,539,062$0$0$5,702,478
96$8,178,586$0$0$6,187,811
97$8,879,262$0$0$6,719,615
98$9,647,201$0$0$7,302,532
99$10,489,131$0$0$7,941,679
100$11,412,462$0$0$8,642,689