Can I retire at age 55 with 596,000?

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 $596,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$49,217$48,779$48,351$47,934$47,526$46,932
2 years$24,365$23,911$23,471$23,045$22,631$22,034
3 years$16,082$15,626$15,188$14,765$14,358$13,776
4 years$11,941$11,487$11,053$10,637$10,240$9,677
5 years$9,457$9,006$8,577$8,171$7,785$7,242
6 years$7,802$7,354$6,932$6,534$6,160$5,639
7 years$6,620$6,176$5,760$5,372$5,009$4,511
8 years$5,734$5,294$4,885$4,506$4,156$3,679
9 years$5,046$4,609$4,208$3,839$3,500$3,044
10 years$4,495$4,063$3,668$3,309$2,982$2,548
11 years$4,045$3,617$3,230$2,880$2,565$2,151
12 years$3,670$3,246$2,866$2,526$2,222$1,830
13 years$3,353$2,934$2,561$2,230$1,938$1,565
14 years$3,081$2,667$2,301$1,980$1,699$1,345
15 years$2,846$2,436$2,077$1,765$1,496$1,161
16 years$2,641$2,235$1,883$1,581$1,322$1,006
17 years$2,459$2,058$1,714$1,420$1,172$873
18 years$2,299$1,902$1,564$1,280$1,042$760
19 years$2,155$1,763$1,432$1,157$929$663
20 years$2,026$1,638$1,314$1,047$830$580
21 years$1,909$1,526$1,209$951$743$508
22 years$1,803$1,424$1,114$864$666$445
23 years$1,706$1,332$1,029$787$597$390
24 years$1,618$1,248$951$718$537$343
25 years$1,537$1,171$881$656$483$302
26 years$1,462$1,101$817$600$435$265
27 years$1,393$1,036$759$549$392$234
28 years$1,328$976$706$503$354$206
29 years$1,269$921$657$461$320$181
30 years$1,213$870$612$423$289$160
31 years$1,161$822$570$389$261$141
32 years$1,113$778$532$357$236$125
33 years$1,067$737$497$328$214$110
34 years$1,025$698$464$302$194$97
35 years$984$662$434$278$175$86
36 years$947$629$406$256$159$76
37 years$911$597$380$236$144$67
38 years$877$567$356$218$131$59
39 years$845$540$333$201$118$52
40 years$815$513$312$185$107$46
41 years$786$489$293$171$97$41
42 years$759$465$275$158$88$36
43 years$733$443$258$145$80$32
44 years$708$423$242$134$73$28
45 years$685$403$227$124$66$25
46 years$662$384$213$115$60$22
47 years$641$367$201$106$55$20
48 years$620$350$188$98$49$17
49 years$601$334$177$90$45$15
50 years$582$320$167$84$41$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $596,000, adding $3,038 every year, while hoping to spend $27,085 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: 30/47/23 Blend
54$596,000$596,000$596,000$596,000
55$659,926$628,338$619,100$674,932
56$698,420$630,308$611,021$688,669
57$739,933$631,467$601,765$700,820
58$784,743$631,747$591,261$713,333
59$833,159$631,074$579,440$726,257
60$885,517$629,372$566,227$739,647
61$942,187$626,559$551,543$753,568
62$1,003,578$622,548$535,308$768,092
63$1,070,137$617,247$517,435$783,302
64$1,142,358$610,559$497,835$799,291
65$1,220,781$602,379$476,416$816,165
66$1,306,004$592,599$453,079$834,043
67$1,398,682$581,101$427,722$853,063
68$1,499,535$567,764$400,239$873,374
69$1,609,359$552,455$370,518$895,151
70$1,729,027$535,038$338,443$918,584
71$1,859,499$515,366$303,893$943,893
72$2,001,833$493,285$266,739$971,319
73$2,157,195$468,631$226,849$1,001,136
74$2,326,866$441,231$184,086$1,033,649
75$2,512,256$410,901$138,303$1,069,200
76$2,714,920$377,449$89,350$1,108,172
77$2,936,568$340,670$37,069$1,150,992
78$3,179,083$300,348$0$1,198,136
79$3,444,538$256,254$0$1,254,733
80$3,735,218$208,147$0$1,326,786
81$4,053,635$155,771$0$1,405,895
82$4,402,560$98,858$0$1,492,843
83$4,785,042$37,124$0$1,588,496
84$5,204,441$0$0$1,693,816
85$5,664,454$0$0$1,825,249
86$6,169,158$0$0$1,990,610
87$6,723,039$0$0$2,172,182
88$7,331,042$0$0$2,371,599
89$7,998,613$0$0$2,590,658
90$8,731,749$0$0$2,831,342
91$9,537,060$0$0$3,095,834
92$10,421,824$0$0$3,386,537
93$11,394,062$0$0$3,706,103
94$12,462,609$0$0$4,057,451
95$13,637,197$0$0$4,443,795
96$14,928,550$0$0$4,868,679
97$16,348,483$0$0$5,336,008
98$17,910,012$0$0$5,850,082
99$19,627,476$0$0$6,415,640
100$21,516,678$0$0$7,037,905