Can I retire at age 55 with 587,000?

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 $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%16.1%
1 years$48,474$48,042$47,621$47,210$46,808$45,640
2 years$23,997$23,550$23,117$22,697$22,290$21,120
3 years$15,839$15,390$14,958$14,542$14,141$13,007
4 years$11,761$11,313$10,886$10,477$10,086$8,995
5 years$9,315$8,870$8,448$8,047$7,667$6,623
6 years$7,684$7,243$6,827$6,435$6,067$5,071
7 years$6,520$6,083$5,673$5,291$4,934$3,986
8 years$5,648$5,214$4,811$4,438$4,093$3,193
9 years$4,969$4,540$4,144$3,781$3,447$2,594
10 years$4,427$4,001$3,613$3,259$2,937$2,130
11 years$3,983$3,562$3,181$2,836$2,526$1,764
12 years$3,614$3,197$2,823$2,488$2,189$1,470
13 years$3,302$2,889$2,522$2,196$1,909$1,232
14 years$3,035$2,626$2,266$1,950$1,673$1,037
15 years$2,803$2,399$2,046$1,739$1,473$876
16 years$2,601$2,201$1,855$1,557$1,302$742
17 years$2,422$2,027$1,688$1,399$1,154$631
18 years$2,264$1,873$1,541$1,261$1,027$537
19 years$2,122$1,736$1,411$1,139$915$458
20 years$1,995$1,613$1,295$1,032$817$391
21 years$1,880$1,503$1,191$936$731$334
22 years$1,776$1,403$1,097$851$656$286
23 years$1,680$1,312$1,013$775$588$245
24 years$1,593$1,229$937$707$529$210
25 years$1,513$1,154$868$646$476$180
26 years$1,440$1,084$805$590$429$155
27 years$1,371$1,020$748$540$387$133
28 years$1,308$961$695$495$349$114
29 years$1,250$907$647$454$315$98
30 years$1,195$857$602$417$285$84
31 years$1,144$810$562$383$257$73
32 years$1,096$766$524$352$233$62
33 years$1,051$726$489$323$211$54
34 years$1,009$688$457$298$191$46
35 years$970$652$427$274$173$40
36 years$932$619$400$252$156$34
37 years$897$588$374$232$142$29
38 years$864$559$350$214$129$25
39 years$832$531$328$198$117$22
40 years$803$506$308$182$106$19
41 years$774$481$289$168$96$16
42 years$747$458$271$155$87$14
43 years$722$437$254$143$79$12
44 years$697$416$238$132$72$10
45 years$674$397$224$122$65$9
46 years$652$379$210$113$59$8
47 years$631$361$198$104$54$7
48 years$611$345$186$96$49$6
49 years$592$329$174$89$44$5
50 years$573$315$164$82$40$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $587,000, adding $4,209 every year, while hoping to spend $24,136 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: 62/9/29 Blend
54$587,000$587,000$587,000$587,000
55$651,216$620,105$611,006$686,272
56$691,959$624,809$605,794$715,315
57$736,049$628,935$599,599$744,034
58$783,803$632,429$592,362$774,887
59$835,566$635,234$584,021$808,085
60$891,721$637,288$574,513$843,865
61$952,689$638,527$563,772$882,489
62$1,018,930$638,882$551,725$924,244
63$1,090,954$638,280$538,301$969,449
64$1,169,319$636,643$523,421$1,018,454
65$1,254,640$633,890$507,007$1,071,650
66$1,347,595$629,932$488,973$1,129,465
67$1,448,928$624,677$469,233$1,192,372
68$1,559,460$618,027$447,693$1,260,896
69$1,680,092$609,878$424,257$1,335,614
70$1,811,818$600,118$398,826$1,417,165
71$1,955,731$588,631$371,295$1,506,252
72$2,113,035$575,294$341,553$1,603,655
73$2,285,055$559,974$309,485$1,710,232
74$2,473,251$542,533$274,974$1,826,930
75$2,679,229$522,824$237,892$1,954,798
76$2,904,759$500,691$198,109$2,094,988
77$3,151,789$475,969$155,490$2,248,778
78$3,422,464$448,484$109,892$2,417,572
79$3,719,147$418,052$61,165$2,602,925
80$4,044,441$384,477$9,156$2,806,549
81$4,401,213$347,555$0$3,030,335
82$4,792,619$307,067$0$3,290,710
83$5,222,136$262,784$0$3,579,590
84$5,693,595$214,462$0$3,896,732
85$6,211,215$161,844$0$4,244,994
86$6,779,644$104,659$0$4,627,527
87$7,404,002$42,621$0$5,047,800
88$8,089,928$0$0$5,509,638
89$8,843,637$0$0$6,019,689
90$9,671,972$0$0$6,584,928
91$10,582,476$0$0$7,206,285
92$11,583,456$0$0$7,889,436
93$12,684,066$0$0$8,640,634
94$13,894,389$0$0$9,466,768
95$15,225,536$0$0$10,375,429
96$16,689,749$0$0$11,374,978
97$18,300,515$0$0$12,474,632
98$20,072,693$0$0$13,684,541
99$22,022,658$0$0$15,015,893
100$24,168,450$0$0$16,481,011