Can I retire at age 55 with 592,000?

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 $592,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$48,887$48,451$48,026$47,612$47,207$45,843
2 years$24,201$23,751$23,314$22,890$22,479$21,116
3 years$15,974$15,521$15,086$14,666$14,262$12,942
4 years$11,861$11,410$10,978$10,566$10,172$8,905
5 years$9,394$8,945$8,520$8,116$7,732$6,523
6 years$7,750$7,305$6,885$6,490$6,118$4,967
7 years$6,576$6,134$5,722$5,336$4,976$3,882
8 years$5,696$5,258$4,852$4,476$4,128$3,092
9 years$5,012$4,578$4,179$3,813$3,476$2,496
10 years$4,465$4,036$3,644$3,287$2,962$2,037
11 years$4,017$3,593$3,208$2,860$2,547$1,676
12 years$3,645$3,225$2,847$2,509$2,208$1,388
13 years$3,330$2,914$2,543$2,215$1,925$1,155
14 years$3,060$2,649$2,285$1,966$1,687$966
15 years$2,827$2,420$2,063$1,754$1,486$810
16 years$2,623$2,220$1,871$1,570$1,313$682
17 years$2,443$2,045$1,702$1,411$1,164$575
18 years$2,283$1,889$1,554$1,271$1,035$486
19 years$2,140$1,751$1,423$1,149$923$411
20 years$2,012$1,627$1,306$1,040$824$348
21 years$1,896$1,516$1,201$944$738$296
22 years$1,791$1,415$1,107$859$661$251
23 years$1,695$1,323$1,022$782$593$213
24 years$1,607$1,240$945$713$533$181
25 years$1,526$1,163$875$651$480$154
26 years$1,452$1,093$812$595$432$132
27 years$1,383$1,029$754$545$390$112
28 years$1,319$970$701$499$352$95
29 years$1,260$915$652$458$318$81
30 years$1,205$864$607$420$287$69
31 years$1,154$817$566$386$259$59
32 years$1,105$773$528$355$235$50
33 years$1,060$732$493$326$212$43
34 years$1,018$694$461$300$192$37
35 years$978$658$431$276$174$31
36 years$940$624$403$254$158$27
37 years$905$593$377$234$143$23
38 years$871$564$353$216$130$20
39 years$839$536$331$199$118$17
40 years$809$510$310$184$107$14
41 years$781$485$291$170$97$12
42 years$754$462$273$156$88$10
43 years$728$440$256$144$80$9
44 years$703$420$240$133$72$8
45 years$680$400$226$123$66$6
46 years$658$382$212$114$60$6
47 years$636$364$199$105$54$5
48 years$616$348$187$97$49$4
49 years$597$332$176$90$45$3
50 years$578$317$165$83$41$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $592,000, adding $6,591 every year, while hoping to spend $36,872 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: 52/22/26 Blend
54$592,000$592,000$592,000$592,000
55$659,183$627,807$618,631$688,362
56$687,188$619,338$600,123$700,821
57$716,814$609,218$579,760$710,081
58$748,187$597,327$557,440$719,409
59$781,445$583,540$533,057$728,829
60$816,739$567,720$506,502$738,366
61$854,234$549,726$477,657$748,050
62$894,110$529,407$446,403$757,918
63$936,566$506,604$412,614$768,013
64$981,816$481,149$376,157$778,383
65$1,030,099$452,862$336,895$789,088
66$1,081,672$421,555$294,685$800,193
67$1,136,820$387,030$249,375$811,774
68$1,195,856$349,074$200,809$823,920
69$1,259,120$307,465$148,823$836,732
70$1,326,988$261,969$93,246$850,323
71$1,399,870$212,335$33,899$864,824
72$1,478,219$158,301$0$880,384
73$1,562,529$99,590$0$905,335
74$1,653,346$35,908$0$942,270
75$1,751,266$0$0$982,043
76$1,856,946$0$0$1,032,958
77$1,971,107$0$0$1,097,396
78$2,094,543$0$0$1,167,117
79$2,228,124$0$0$1,242,621
80$2,372,808$0$0$1,324,454
81$2,529,649$0$0$1,413,219
82$2,699,804$0$0$1,509,579
83$2,884,548$0$0$1,614,263
84$3,085,280$0$0$1,728,071
85$3,303,542$0$0$1,851,887
86$3,541,028$0$0$1,986,679
87$3,799,605$0$0$2,133,516
88$4,081,325$0$0$2,293,573
89$4,388,446$0$0$2,468,142
90$4,723,454$0$0$2,658,647
91$5,089,086$0$0$2,866,654
92$5,488,353$0$0$3,093,888
93$5,924,571$0$0$3,342,247
94$6,401,390$0$0$3,613,821
95$6,922,829$0$0$3,910,912
96$7,493,313$0$0$4,236,053
97$8,117,712$0$0$4,592,035
98$8,801,394$0$0$4,981,929
99$9,550,264$0$0$5,409,121
100$10,370,830$0$0$5,877,336