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%15%
1 years$48,474$48,042$47,621$47,210$46,808$45,844
2 years$23,997$23,550$23,117$22,697$22,290$21,323
3 years$15,839$15,390$14,958$14,542$14,141$13,202
4 years$11,761$11,313$10,886$10,477$10,086$9,181
5 years$9,315$8,870$8,448$8,047$7,667$6,799
6 years$7,684$7,243$6,827$6,435$6,067$5,237
7 years$6,520$6,083$5,673$5,291$4,934$4,143
8 years$5,648$5,214$4,811$4,438$4,093$3,340
9 years$4,969$4,540$4,144$3,781$3,447$2,731
10 years$4,427$4,001$3,613$3,259$2,937$2,258
11 years$3,983$3,562$3,181$2,836$2,526$1,883
12 years$3,614$3,197$2,823$2,488$2,189$1,581
13 years$3,302$2,889$2,522$2,196$1,909$1,335
14 years$3,035$2,626$2,266$1,950$1,673$1,132
15 years$2,803$2,399$2,046$1,739$1,473$964
16 years$2,601$2,201$1,855$1,557$1,302$823
17 years$2,422$2,027$1,688$1,399$1,154$704
18 years$2,264$1,873$1,541$1,261$1,027$605
19 years$2,122$1,736$1,411$1,139$915$520
20 years$1,995$1,613$1,295$1,032$817$448
21 years$1,880$1,503$1,191$936$731$386
22 years$1,776$1,403$1,097$851$656$333
23 years$1,680$1,312$1,013$775$588$288
24 years$1,593$1,229$937$707$529$249
25 years$1,513$1,154$868$646$476$215
26 years$1,440$1,084$805$590$429$187
27 years$1,371$1,020$748$540$387$162
28 years$1,308$961$695$495$349$140
29 years$1,250$907$647$454$315$122
30 years$1,195$857$602$417$285$105
31 years$1,144$810$562$383$257$92
32 years$1,096$766$524$352$233$79
33 years$1,051$726$489$323$211$69
34 years$1,009$688$457$298$191$60
35 years$970$652$427$274$173$52
36 years$932$619$400$252$156$45
37 years$897$588$374$232$142$39
38 years$864$559$350$214$129$34
39 years$832$531$328$198$117$30
40 years$803$506$308$182$106$26
41 years$774$481$289$168$96$22
42 years$747$458$271$155$87$19
43 years$722$437$254$143$79$17
44 years$697$416$238$132$72$15
45 years$674$397$224$122$65$13
46 years$652$379$210$113$59$11
47 years$631$361$198$104$54$10
48 years$611$345$186$96$49$8
49 years$592$329$174$89$44$7
50 years$573$315$164$82$40$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $587,000, adding $2,231 every year, while hoping to spend $30,739 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: 64/6/30 Blend
54$587,000$587,000$587,000$587,000
55$649,175$618,064$608,966$685,381
56$682,685$615,643$596,660$707,787
57$718,583$612,074$582,912$728,698
58$757,079$607,266$567,640$750,895
59$798,406$601,127$550,761$774,508
60$842,818$593,556$532,186$799,683
61$890,593$584,449$511,822$826,582
62$942,038$573,691$489,573$855,384
63$997,490$561,166$465,337$886,288
64$1,057,317$546,747$439,010$919,513
65$1,121,927$530,301$410,480$955,304
66$1,191,765$511,687$379,633$993,930
67$1,267,322$490,756$346,347$1,035,691
68$1,349,136$467,351$310,497$1,080,918
69$1,437,801$441,304$271,952$1,129,978
70$1,533,968$412,439$230,573$1,183,277
71$1,638,353$380,569$186,218$1,241,264
72$1,751,745$345,497$138,736$1,304,436
73$1,875,011$307,014$87,971$1,373,344
74$2,009,104$264,900$33,761$1,448,595
75$2,155,075$218,922$0$1,530,863
76$2,314,077$168,834$0$1,628,603
77$2,487,382$114,376$0$1,746,960
78$2,676,388$55,273$0$1,876,084
79$2,882,634$0$0$2,017,042
80$3,107,815$0$0$2,171,589
81$3,353,796$0$0$2,344,435
82$3,622,629$0$0$2,533,379
83$3,916,577$0$0$2,740,014
84$4,238,126$0$0$2,966,095
85$4,590,019$0$0$3,213,554
86$4,975,272$0$0$3,484,519
87$5,397,209$0$0$3,781,333
88$5,859,489$0$0$4,106,575
89$6,366,142$0$0$4,463,088
90$6,921,606$0$0$4,854,001
91$7,530,771$0$0$5,282,761
92$8,199,020$0$0$5,753,165
93$8,932,283$0$0$6,269,394
94$9,737,094$0$0$6,836,055
95$10,620,648$0$0$7,458,221
96$11,590,871$0$0$8,141,482
97$12,656,495$0$0$8,891,995
98$13,827,138$0$0$9,716,543
99$15,113,397$0$0$10,622,599
100$16,526,944$0$0$11,618,393