Can I retire at age 55 with 592,000?

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 $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%17.6%
1 years$48,887$48,451$48,026$47,612$47,207$45,751
2 years$24,201$23,751$23,314$22,890$22,479$21,025
3 years$15,974$15,521$15,086$14,666$14,262$12,855
4 years$11,861$11,410$10,978$10,566$10,172$8,823
5 years$9,394$8,945$8,520$8,116$7,732$6,446
6 years$7,750$7,305$6,885$6,490$6,118$4,895
7 years$6,576$6,134$5,722$5,336$4,976$3,815
8 years$5,696$5,258$4,852$4,476$4,128$3,029
9 years$5,012$4,578$4,179$3,813$3,476$2,439
10 years$4,465$4,036$3,644$3,287$2,962$1,984
11 years$4,017$3,593$3,208$2,860$2,547$1,627
12 years$3,645$3,225$2,847$2,509$2,208$1,343
13 years$3,330$2,914$2,543$2,215$1,925$1,114
14 years$3,060$2,649$2,285$1,966$1,687$928
15 years$2,827$2,420$2,063$1,754$1,486$776
16 years$2,623$2,220$1,871$1,570$1,313$650
17 years$2,443$2,045$1,702$1,411$1,164$546
18 years$2,283$1,889$1,554$1,271$1,035$460
19 years$2,140$1,751$1,423$1,149$923$388
20 years$2,012$1,627$1,306$1,040$824$327
21 years$1,896$1,516$1,201$944$738$277
22 years$1,791$1,415$1,107$859$661$234
23 years$1,695$1,323$1,022$782$593$198
24 years$1,607$1,240$945$713$533$168
25 years$1,526$1,163$875$651$480$142
26 years$1,452$1,093$812$595$432$121
27 years$1,383$1,029$754$545$390$102
28 years$1,319$970$701$499$352$87
29 years$1,260$915$652$458$318$74
30 years$1,205$864$607$420$287$63
31 years$1,154$817$566$386$259$53
32 years$1,105$773$528$355$235$45
33 years$1,060$732$493$326$212$38
34 years$1,018$694$461$300$192$33
35 years$978$658$431$276$174$28
36 years$940$624$403$254$158$24
37 years$905$593$377$234$143$20
38 years$871$564$353$216$130$17
39 years$839$536$331$199$118$14
40 years$809$510$310$184$107$12
41 years$781$485$291$170$97$10
42 years$754$462$273$156$88$9
43 years$728$440$256$144$80$8
44 years$703$420$240$133$72$6
45 years$680$400$226$123$66$5
46 years$658$382$212$114$60$5
47 years$636$364$199$105$54$4
48 years$616$348$187$97$49$3
49 years$597$332$176$90$45$3
50 years$578$317$165$83$41$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $592,000, adding $2,439 every year, while hoping to spend $40,389 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: 64/23/13 Blend
54$592,000$592,000$592,000$592,000
55$654,900$623,524$614,348$694,663
56$678,726$611,103$591,955$709,142
57$703,629$596,720$567,458$720,053
58$729,675$580,235$540,744$730,970
59$756,938$561,503$511,696$741,892
60$785,497$540,367$480,188$752,821
61$815,435$516,663$446,092$763,760
62$846,847$490,217$409,273$774,715
63$879,832$460,844$369,591$785,692
64$914,500$428,351$326,897$796,703
65$950,969$392,530$281,038$807,760
66$989,368$353,164$231,853$818,881
67$1,029,839$310,024$179,175$830,087
68$1,072,533$262,866$122,828$841,404
69$1,117,618$211,433$62,629$852,864
70$1,165,275$155,454$0$864,502
71$1,215,704$94,642$0$876,589
72$1,269,122$28,695$0$898,237
73$1,325,764$0$0$920,840
74$1,385,891$0$0$955,307
75$1,449,785$0$0$999,673
76$1,517,755$0$0$1,046,892
77$1,590,142$0$0$1,097,203
78$1,667,316$0$0$1,150,867
79$1,749,683$0$0$1,208,170
80$1,837,690$0$0$1,269,425
81$1,931,823$0$0$1,334,976
82$2,032,619$0$0$1,405,199
83$2,140,664$0$0$1,480,507
84$2,256,602$0$0$1,561,354
85$2,381,140$0$0$1,648,238
86$2,515,054$0$0$1,741,704
87$2,659,194$0$0$1,842,351
88$2,814,496$0$0$1,950,839
89$2,981,987$0$0$2,067,891
90$3,162,795$0$0$2,194,301
91$3,358,160$0$0$2,330,943
92$3,569,444$0$0$2,478,776
93$3,798,145$0$0$2,638,855
94$4,045,908$0$0$2,812,341
95$4,314,545$0$0$3,000,509
96$4,606,045$0$0$3,204,761
97$4,922,597$0$0$3,426,639
98$5,266,610$0$0$3,667,842
99$5,640,733$0$0$3,930,236
100$6,047,879$0$0$4,215,874