Can I retire at age 55 with 595,000?

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 $595,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$49,135$48,697$48,270$47,853$47,446$47,009
2 years$24,324$23,871$23,432$23,006$22,593$22,153
3 years$16,055$15,600$15,162$14,740$14,334$13,904
4 years$11,921$11,468$11,034$10,620$10,223$9,807
5 years$9,442$8,991$8,563$8,157$7,772$7,370
6 years$7,789$7,342$6,920$6,523$6,149$5,764
7 years$6,609$6,165$5,751$5,363$5,001$4,631
8 years$5,725$5,285$4,877$4,499$4,149$3,794
9 years$5,037$4,602$4,201$3,832$3,494$3,155
10 years$4,487$4,056$3,662$3,303$2,977$2,653
11 years$4,038$3,611$3,224$2,875$2,560$2,251
12 years$3,663$3,241$2,861$2,522$2,219$1,924
13 years$3,347$2,929$2,556$2,226$1,935$1,655
14 years$3,076$2,662$2,297$1,976$1,696$1,430
15 years$2,841$2,432$2,074$1,762$1,493$1,241
16 years$2,636$2,231$1,880$1,578$1,320$1,080
17 years$2,455$2,055$1,711$1,418$1,170$944
18 years$2,295$1,899$1,562$1,278$1,041$826
19 years$2,151$1,760$1,430$1,155$927$725
20 years$2,022$1,635$1,312$1,046$828$637
21 years$1,906$1,523$1,207$949$741$561
22 years$1,800$1,422$1,112$863$664$495
23 years$1,703$1,330$1,027$786$596$437
24 years$1,615$1,246$950$717$536$386
25 years$1,534$1,169$880$655$482$342
26 years$1,459$1,099$816$599$435$303
27 years$1,390$1,034$758$548$392$268
28 years$1,326$975$704$502$354$238
29 years$1,267$919$655$460$319$211
30 years$1,211$868$611$422$288$187
31 years$1,159$821$569$388$261$166
32 years$1,111$777$531$357$236$148
33 years$1,066$735$496$328$213$131
34 years$1,023$697$463$302$193$117
35 years$983$661$433$278$175$104
36 years$945$628$405$256$159$92
37 years$909$596$379$236$144$82
38 years$876$566$355$217$130$73
39 years$844$539$333$200$118$65
40 years$813$512$312$185$107$58
41 years$785$488$292$170$97$52
42 years$758$465$274$157$88$46
43 years$732$443$257$145$80$41
44 years$707$422$242$134$73$36
45 years$683$402$227$124$66$32
46 years$661$384$213$114$60$29
47 years$640$366$200$106$54$26
48 years$619$350$188$98$49$23
49 years$600$334$177$90$45$20
50 years$581$319$166$83$41$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $595,000, adding $6,446 every year, while hoping to spend $40,988 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: 42/38/20 Blend
54$595,000$595,000$595,000$595,000
55$662,339$630,804$621,582$686,036
56$686,287$618,103$598,794$690,772
57$711,303$603,405$573,869$691,434
58$737,455$586,570$546,691$691,306
59$764,812$567,449$517,142$690,337
60$793,451$545,883$485,096$688,475
61$823,457$521,705$450,420$685,664
62$854,919$494,738$412,979$681,846
63$887,936$464,795$372,628$676,964
64$922,614$431,678$329,220$670,957
65$959,068$395,178$282,596$663,763
66$997,424$355,073$232,594$655,317
67$1,037,820$311,129$179,044$645,556
68$1,080,403$263,101$121,768$634,413
69$1,125,337$210,725$60,580$621,821
70$1,172,798$153,728$0$607,711
71$1,222,980$91,817$0$593,023
72$1,276,092$24,684$0$590,542
73$1,332,366$0$0$587,305
74$1,392,052$0$0$603,358
75$1,455,426$0$0$631,400
76$1,522,787$0$0$661,247
77$1,594,464$0$0$693,050
78$1,670,818$0$0$726,974
79$1,752,242$0$0$763,201
80$1,839,168$0$0$801,927
81$1,932,068$0$0$843,372
82$2,031,461$0$0$887,773
83$2,137,916$0$0$935,392
84$2,252,055$0$0$986,515
85$2,374,562$0$0$1,041,458
86$2,506,189$0$0$1,100,566
87$2,647,758$0$0$1,164,219
88$2,800,174$0$0$1,232,833
89$2,964,431$0$0$1,306,867
90$3,141,619$0$0$1,386,823
91$3,332,936$0$0$1,473,254
92$3,539,701$0$0$1,566,768
93$3,763,360$0$0$1,668,033
94$4,005,504$0$0$1,777,782
95$4,267,883$0$0$1,896,824
96$4,552,420$0$0$2,026,045
97$4,861,230$0$0$2,166,423
98$5,196,639$0$0$2,319,032
99$5,561,206$0$0$2,485,054
100$5,957,746$0$0$2,665,788