Can I retire at age 55 with 597,000?

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 $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%11.3%
1 years$49,300$48,861$48,432$48,014$47,606$47,345
2 years$24,406$23,951$23,511$23,084$22,669$22,407
3 years$16,109$15,652$15,213$14,790$14,382$14,125
4 years$11,961$11,506$11,071$10,655$10,258$10,008
5 years$9,473$9,021$8,592$8,184$7,798$7,557
6 years$7,815$7,366$6,943$6,545$6,170$5,938
7 years$6,631$6,186$5,770$5,381$5,018$4,795
8 years$5,744$5,303$4,893$4,514$4,163$3,949
9 years$5,054$4,617$4,215$3,845$3,506$3,301
10 years$4,502$4,070$3,674$3,314$2,987$2,791
11 years$4,051$3,623$3,235$2,885$2,569$2,381
12 years$3,676$3,252$2,871$2,530$2,226$2,047
13 years$3,358$2,939$2,565$2,234$1,941$1,770
14 years$3,086$2,671$2,305$1,983$1,702$1,539
15 years$2,851$2,440$2,081$1,768$1,498$1,343
16 years$2,645$2,239$1,887$1,583$1,324$1,177
17 years$2,463$2,062$1,717$1,423$1,174$1,034
18 years$2,302$1,905$1,567$1,282$1,044$912
19 years$2,158$1,766$1,435$1,158$931$805
20 years$2,029$1,641$1,317$1,049$831$712
21 years$1,912$1,528$1,211$952$744$632
22 years$1,806$1,427$1,116$866$667$561
23 years$1,709$1,334$1,031$788$598$498
24 years$1,621$1,250$953$719$538$444
25 years$1,539$1,173$883$657$484$395
26 years$1,464$1,103$819$601$436$353
27 years$1,395$1,038$760$550$393$315
28 years$1,331$978$707$504$355$281
29 years$1,271$922$658$462$320$251
30 years$1,215$871$613$424$289$225
31 years$1,163$824$571$389$262$201
32 years$1,115$779$533$358$237$180
33 years$1,069$738$498$329$214$161
34 years$1,026$699$465$303$194$144
35 years$986$663$435$279$176$129
36 years$948$630$407$257$159$116
37 years$912$598$381$236$144$104
38 years$879$568$356$218$131$93
39 years$847$540$334$201$119$84
40 years$816$514$313$185$108$75
41 years$787$489$293$171$98$67
42 years$760$466$275$158$89$60
43 years$734$444$258$146$80$54
44 years$709$423$242$135$73$49
45 years$686$404$228$124$66$44
46 years$663$385$214$115$60$39
47 years$642$368$201$106$55$35
48 years$621$351$189$98$50$32
49 years$602$335$177$91$45$28
50 years$583$320$167$84$41$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $597,000, adding $2,613 every year, while hoping to spend $22,555 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: 62/9/29 Blend
54$597,000$597,000$597,000$597,000
55$660,589$628,948$619,695$696,243
56$703,971$635,768$616,456$727,622
57$751,022$642,167$612,353$759,202
58$802,092$648,099$607,333$793,211
59$857,567$653,517$601,340$829,891
60$917,871$658,372$594,317$869,511
61$983,470$662,608$586,203$912,365
62$1,054,877$666,169$576,934$958,779
63$1,132,657$668,994$566,444$1,009,115
64$1,217,432$671,019$554,664$1,063,770
65$1,309,885$672,174$541,520$1,123,182
66$1,410,769$672,385$526,936$1,187,836
67$1,520,912$671,577$510,833$1,258,267
68$1,641,226$669,666$493,127$1,335,066
69$1,772,716$666,564$473,732$1,418,884
70$1,916,486$662,179$452,555$1,510,440
71$2,073,754$656,412$429,502$1,610,528
72$2,245,859$649,158$404,473$1,720,024
73$2,434,278$640,308$377,363$1,839,894
74$2,640,634$629,743$348,065$1,971,206
75$2,866,718$617,339$316,464$2,115,135
76$3,114,499$602,965$282,442$2,272,981
77$3,386,149$586,481$245,875$2,446,175
78$3,684,057$567,740$206,632$2,636,299
79$4,010,856$546,584$164,579$2,845,096
80$4,369,445$522,849$119,575$3,074,489
81$4,763,020$496,360$71,472$3,326,600
82$5,195,097$466,931$20,116$3,603,769
83$5,669,554$434,367$0$3,908,578
84$6,190,658$398,461$0$4,254,608
85$6,763,114$358,994$0$4,641,606
86$7,392,102$315,735$0$5,066,858
87$8,083,330$268,440$0$5,534,242
88$8,843,086$216,850$0$6,048,027
89$9,678,298$160,692$0$6,612,922
90$10,596,597$99,680$0$7,234,113
91$11,606,394$33,507$0$7,917,317
92$12,716,951$0$0$8,668,831
93$13,938,476$0$0$9,499,376
94$15,282,216$0$0$10,416,719
95$16,760,560$0$0$11,426,004
96$18,387,162$0$0$12,536,561
97$20,177,063$0$0$13,758,665
98$22,146,838$0$0$15,103,640
99$24,314,749$0$0$16,583,963
100$26,700,918$0$0$18,213,380