Can I retire at age 55 with 597,000?

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 $597,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$49,300$48,861$48,432$48,014$47,606$46,100
2 years$24,406$23,951$23,511$23,084$22,669$21,166
3 years$16,109$15,652$15,213$14,790$14,382$12,929
4 years$11,961$11,506$11,071$10,655$10,258$8,865
5 years$9,473$9,021$8,592$8,184$7,798$6,469
6 years$7,815$7,366$6,943$6,545$6,170$4,907
7 years$6,631$6,186$5,770$5,381$5,018$3,820
8 years$5,744$5,303$4,893$4,514$4,163$3,030
9 years$5,054$4,617$4,215$3,845$3,506$2,436
10 years$4,502$4,070$3,674$3,314$2,987$1,979
11 years$4,051$3,623$3,235$2,885$2,569$1,621
12 years$3,676$3,252$2,871$2,530$2,226$1,336
13 years$3,358$2,939$2,565$2,234$1,941$1,107
14 years$3,086$2,671$2,305$1,983$1,702$921
15 years$2,851$2,440$2,081$1,768$1,498$769
16 years$2,645$2,239$1,887$1,583$1,324$644
17 years$2,463$2,062$1,717$1,423$1,174$540
18 years$2,302$1,905$1,567$1,282$1,044$454
19 years$2,158$1,766$1,435$1,158$931$382
20 years$2,029$1,641$1,317$1,049$831$322
21 years$1,912$1,528$1,211$952$744$272
22 years$1,806$1,427$1,116$866$667$230
23 years$1,709$1,334$1,031$788$598$194
24 years$1,621$1,250$953$719$538$164
25 years$1,539$1,173$883$657$484$139
26 years$1,464$1,103$819$601$436$118
27 years$1,395$1,038$760$550$393$100
28 years$1,331$978$707$504$355$84
29 years$1,271$922$658$462$320$72
30 years$1,215$871$613$424$289$61
31 years$1,163$824$571$389$262$51
32 years$1,115$779$533$358$237$44
33 years$1,069$738$498$329$214$37
34 years$1,026$699$465$303$194$31
35 years$986$663$435$279$176$27
36 years$948$630$407$257$159$23
37 years$912$598$381$236$144$19
38 years$879$568$356$218$131$16
39 years$847$540$334$201$119$14
40 years$816$514$313$185$108$12
41 years$787$489$293$171$98$10
42 years$760$466$275$158$89$8
43 years$734$444$258$146$80$7
44 years$709$423$242$135$73$6
45 years$686$404$228$124$66$5
46 years$663$385$214$115$60$4
47 years$642$368$201$106$55$4
48 years$621$351$189$98$50$3
49 years$602$335$177$91$45$3
50 years$583$320$167$84$41$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $597,000, adding $4,979 every year, while hoping to spend $39,659 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: 47/23/30 Blend
54$597,000$597,000$597,000$597,000
55$663,030$631,389$622,135$688,282
56$688,462$620,130$600,780$695,395
57$715,159$606,990$577,380$698,889
58$743,208$591,836$551,825$701,932
59$772,704$574,524$524,000$704,503
60$803,750$554,906$493,784$706,582
61$836,457$532,821$461,050$708,150
62$870,949$508,102$425,669$709,188
63$907,357$480,571$387,500$709,680
64$945,828$450,039$346,402$709,611
65$986,519$416,308$302,223$708,968
66$1,029,604$379,167$254,807$707,743
67$1,075,270$338,393$203,990$705,928
68$1,123,726$293,752$149,602$703,520
69$1,175,195$244,995$91,462$700,522
70$1,229,924$191,859$29,386$696,939
71$1,288,184$134,068$0$692,786
72$1,350,270$71,329$0$699,880
73$1,416,506$3,332$0$717,254
74$1,487,245$0$0$735,598
75$1,562,878$0$0$772,808
76$1,643,828$0$0$813,580
77$1,730,564$0$0$857,313
78$1,823,598$0$0$904,270
79$1,923,491$0$0$954,741
80$2,030,860$0$0$1,009,044
81$2,146,384$0$0$1,067,530
82$2,270,804$0$0$1,130,581
83$2,404,939$0$0$1,198,619
84$2,549,684$0$0$1,272,108
85$2,706,026$0$0$1,351,557
86$2,875,047$0$0$1,437,525
87$3,057,938$0$0$1,530,627
88$3,256,008$0$0$1,631,539
89$3,470,694$0$0$1,741,005
90$3,703,580$0$0$1,859,843
91$3,956,405$0$0$1,988,951
92$4,231,082$0$0$2,129,320
93$4,529,716$0$0$2,282,038
94$4,854,624$0$0$2,448,302
95$5,208,353$0$0$2,629,431
96$5,593,707$0$0$2,826,873
97$6,013,771$0$0$3,042,226
98$6,471,942$0$0$3,277,245
99$6,971,955$0$0$3,533,865
100$7,517,927$0$0$3,814,214