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%17.9%
1 years$48,474$48,042$47,621$47,210$46,808$45,310
2 years$23,997$23,550$23,117$22,697$22,290$20,794
3 years$15,839$15,390$14,958$14,542$14,141$12,695
4 years$11,761$11,313$10,886$10,477$10,086$8,700
5 years$9,315$8,870$8,448$8,047$7,667$6,346
6 years$7,684$7,243$6,827$6,435$6,067$4,811
7 years$6,520$6,083$5,673$5,291$4,934$3,743
8 years$5,648$5,214$4,811$4,438$4,093$2,967
9 years$4,969$4,540$4,144$3,781$3,447$2,384
10 years$4,427$4,001$3,613$3,259$2,937$1,936
11 years$3,983$3,562$3,181$2,836$2,526$1,585
12 years$3,614$3,197$2,823$2,488$2,189$1,305
13 years$3,302$2,889$2,522$2,196$1,909$1,081
14 years$3,035$2,626$2,266$1,950$1,673$898
15 years$2,803$2,399$2,046$1,739$1,473$749
16 years$2,601$2,201$1,855$1,557$1,302$627
17 years$2,422$2,027$1,688$1,399$1,154$526
18 years$2,264$1,873$1,541$1,261$1,027$441
19 years$2,122$1,736$1,411$1,139$915$371
20 years$1,995$1,613$1,295$1,032$817$313
21 years$1,880$1,503$1,191$936$731$264
22 years$1,776$1,403$1,097$851$656$223
23 years$1,680$1,312$1,013$775$588$188
24 years$1,593$1,229$937$707$529$159
25 years$1,513$1,154$868$646$476$134
26 years$1,440$1,084$805$590$429$114
27 years$1,371$1,020$748$540$387$96
28 years$1,308$961$695$495$349$81
29 years$1,250$907$647$454$315$69
30 years$1,195$857$602$417$285$58
31 years$1,144$810$562$383$257$50
32 years$1,096$766$524$352$233$42
33 years$1,051$726$489$323$211$36
34 years$1,009$688$457$298$191$30
35 years$970$652$427$274$173$26
36 years$932$619$400$252$156$22
37 years$897$588$374$232$142$18
38 years$864$559$350$214$129$16
39 years$832$531$328$198$117$13
40 years$803$506$308$182$106$11
41 years$774$481$289$168$96$9
42 years$747$458$271$155$87$8
43 years$722$437$254$143$79$7
44 years$697$416$238$132$72$6
45 years$674$397$224$122$65$5
46 years$652$379$210$113$59$4
47 years$631$361$198$104$54$4
48 years$611$345$186$96$49$3
49 years$592$329$174$89$44$3
50 years$573$315$164$82$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $587,000, adding $2,303 every year, while hoping to spend $24,486 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: 71/13/16 Blend
54$587,000$587,000$587,000$587,000
55$649,250$618,139$609,040$692,792
56$689,420$622,374$603,390$726,258
57$732,867$625,997$596,730$759,714
58$779,900$628,951$589,000$795,709
59$830,856$631,176$580,139$834,490
60$886,110$632,610$570,079$876,329
61$946,070$633,185$558,754$921,527
62$1,011,187$632,829$546,091$970,415
63$1,081,959$631,468$532,015$1,023,357
64$1,158,929$629,021$516,448$1,080,758
65$1,242,698$625,401$499,308$1,143,062
66$1,333,928$620,520$480,508$1,210,758
67$1,433,343$614,280$459,960$1,284,388
68$1,541,744$606,580$437,569$1,364,548
69$1,660,012$597,312$413,237$1,451,896
70$1,789,115$586,362$386,862$1,547,157
71$1,930,119$573,609$358,337$1,651,132
72$2,084,199$558,923$327,549$1,764,704
73$2,252,647$542,170$294,382$1,888,845
74$2,436,887$523,206$258,713$2,024,631
75$2,638,484$501,879$220,415$2,173,244
76$2,859,166$478,027$179,355$2,335,992
77$3,100,830$451,480$135,393$2,514,314
78$3,365,571$422,058$88,385$2,709,799
79$3,655,691$389,571$38,178$2,924,199
80$3,973,729$353,818$0$3,159,446
81$4,322,480$314,585$0$3,420,300
82$4,705,021$271,647$0$3,713,608
83$5,124,742$224,768$0$4,035,465
84$5,585,380$173,695$0$4,388,758
85$6,091,047$118,164$0$4,776,670
86$6,646,275$57,895$0$5,202,709
87$7,256,054$0$0$5,670,738
88$7,925,886$0$0$6,186,078
89$8,661,825$0$0$6,761,411
90$9,470,547$0$0$7,393,674
91$10,359,403$0$0$8,088,620
92$11,336,492$0$0$8,852,586
93$12,410,738$0$0$9,692,552
94$13,591,972$0$0$10,616,210
95$14,891,025$0$0$11,632,034
96$16,319,830$0$0$12,749,362
97$17,891,535$0$0$13,978,478
98$19,620,628$0$0$15,330,718
99$21,523,069$0$0$16,818,569
100$23,616,445$0$0$18,455,791