Can I retire at age 55 with 587,000?

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 $587,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$48,474$48,042$47,621$47,210$46,808$46,014
2 years$23,997$23,550$23,117$22,697$22,290$21,492
3 years$15,839$15,390$14,958$14,542$14,141$13,365
4 years$11,761$11,313$10,886$10,477$10,086$9,337
5 years$9,315$8,870$8,448$8,047$7,667$6,947
6 years$7,684$7,243$6,827$6,435$6,067$5,377
7 years$6,520$6,083$5,673$5,291$4,934$4,275
8 years$5,648$5,214$4,811$4,438$4,093$3,465
9 years$4,969$4,540$4,144$3,781$3,447$2,848
10 years$4,427$4,001$3,613$3,259$2,937$2,368
11 years$3,983$3,562$3,181$2,836$2,526$1,986
12 years$3,614$3,197$2,823$2,488$2,189$1,677
13 years$3,302$2,889$2,522$2,196$1,909$1,424
14 years$3,035$2,626$2,266$1,950$1,673$1,215
15 years$2,803$2,399$2,046$1,739$1,473$1,041
16 years$2,601$2,201$1,855$1,557$1,302$895
17 years$2,422$2,027$1,688$1,399$1,154$771
18 years$2,264$1,873$1,541$1,261$1,027$666
19 years$2,122$1,736$1,411$1,139$915$576
20 years$1,995$1,613$1,295$1,032$817$500
21 years$1,880$1,503$1,191$936$731$434
22 years$1,776$1,403$1,097$851$656$377
23 years$1,680$1,312$1,013$775$588$328
24 years$1,593$1,229$937$707$529$286
25 years$1,513$1,154$868$646$476$249
26 years$1,440$1,084$805$590$429$217
27 years$1,371$1,020$748$540$387$190
28 years$1,308$961$695$495$349$166
29 years$1,250$907$647$454$315$145
30 years$1,195$857$602$417$285$126
31 years$1,144$810$562$383$257$111
32 years$1,096$766$524$352$233$97
33 years$1,051$726$489$323$211$85
34 years$1,009$688$457$298$191$74
35 years$970$652$427$274$173$65
36 years$932$619$400$252$156$57
37 years$897$588$374$232$142$50
38 years$864$559$350$214$129$43
39 years$832$531$328$198$117$38
40 years$803$506$308$182$106$33
41 years$774$481$289$168$96$29
42 years$747$458$271$155$87$26
43 years$722$437$254$143$79$22
44 years$697$416$238$132$72$20
45 years$674$397$224$122$65$17
46 years$652$379$210$113$59$15
47 years$631$361$198$104$54$13
48 years$611$345$186$96$49$12
49 years$592$329$174$89$44$10
50 years$573$315$164$82$40$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $587,000, adding $3,836 every year, while hoping to spend $40,917 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: 67/10/23 Blend
54$587,000$587,000$587,000$587,000
55$650,831$619,720$610,621$690,371
56$673,680$606,551$587,542$704,218
57$697,489$591,365$562,318$714,319
58$722,311$574,021$534,834$724,408
59$748,207$554,367$504,971$734,486
60$775,238$532,246$472,602$744,551
61$803,475$507,488$437,596$754,607
62$832,990$479,915$399,816$764,656
63$863,863$449,340$359,118$774,703
64$896,182$415,562$315,354$784,757
65$930,040$378,372$268,365$794,828
66$965,539$337,547$217,990$804,927
67$1,002,788$292,851$164,057$815,073
68$1,041,908$244,036$106,389$825,284
69$1,083,029$190,840$44,798$835,585
70$1,126,291$132,985$0$846,006
71$1,171,849$70,177$0$861,718
72$1,219,871$2,109$0$889,691
73$1,270,538$0$0$919,021
74$1,324,049$0$0$957,691
75$1,380,623$0$0$998,834
76$1,440,494$0$0$1,042,393
77$1,503,923$0$0$1,088,557
78$1,571,191$0$0$1,137,536
79$1,642,607$0$0$1,189,555
80$1,718,509$0$0$1,244,864
81$1,799,266$0$0$1,303,735
82$1,885,283$0$0$1,366,466
83$1,977,002$0$0$1,433,382
84$2,074,907$0$0$1,504,840
85$2,179,532$0$0$1,581,234
86$2,291,457$0$0$1,662,990
87$2,411,321$0$0$1,750,581
88$2,539,824$0$0$1,844,521
89$2,677,735$0$0$1,945,379
90$2,825,897$0$0$2,053,774
91$2,985,235$0$0$2,170,389
92$3,156,764$0$0$2,295,974
93$3,341,602$0$0$2,431,351
94$3,540,972$0$0$2,577,424
95$3,756,222$0$0$2,735,185
96$3,988,831$0$0$2,905,727
97$4,240,424$0$0$3,090,248
98$4,512,789$0$0$3,290,066
99$4,807,890$0$0$3,506,630
100$5,127,887$0$0$3,741,536