Can I retire at age 55 with 598,000?

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 $598,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$49,382$48,942$48,513$48,094$47,685$46,953
2 years$24,447$23,991$23,550$23,122$22,707$21,972
3 years$16,136$15,679$15,238$14,815$14,406$13,690
4 years$11,981$11,525$11,090$10,673$10,275$9,583
5 years$9,489$9,036$8,606$8,198$7,811$7,146
6 years$7,828$7,379$6,955$6,556$6,180$5,543
7 years$6,643$6,197$5,780$5,390$5,026$4,416
8 years$5,754$5,312$4,902$4,522$4,170$3,587
9 years$5,062$4,625$4,222$3,851$3,512$2,957
10 years$4,510$4,076$3,681$3,320$2,992$2,464
11 years$4,058$3,629$3,240$2,889$2,573$2,071
12 years$3,682$3,257$2,876$2,534$2,230$1,754
13 years$3,364$2,944$2,569$2,237$1,945$1,493
14 years$3,091$2,676$2,308$1,986$1,705$1,278
15 years$2,856$2,444$2,084$1,771$1,501$1,097
16 years$2,649$2,243$1,890$1,586$1,326$946
17 years$2,468$2,065$1,720$1,425$1,176$817
18 years$2,306$1,908$1,570$1,284$1,046$708
19 years$2,162$1,769$1,437$1,160$932$615
20 years$2,032$1,644$1,319$1,051$833$534
21 years$1,915$1,531$1,213$954$745$465
22 years$1,809$1,429$1,118$867$668$406
23 years$1,712$1,337$1,032$790$599$354
24 years$1,623$1,252$955$720$539$309
25 years$1,542$1,175$884$658$485$271
26 years$1,467$1,105$820$602$437$237
27 years$1,397$1,039$762$551$394$207
28 years$1,333$979$708$504$355$182
29 years$1,273$924$659$463$321$159
30 years$1,217$873$614$425$290$140
31 years$1,165$825$572$390$262$122
32 years$1,117$781$534$358$237$107
33 years$1,071$739$498$330$215$94
34 years$1,028$701$466$303$194$83
35 years$988$665$435$279$176$73
36 years$950$631$407$257$159$64
37 years$914$599$381$237$144$56
38 years$880$569$357$218$131$49
39 years$848$541$334$201$119$43
40 years$818$515$313$186$108$38
41 years$789$490$294$171$98$33
42 years$761$467$276$158$89$29
43 years$735$445$259$146$80$26
44 years$711$424$243$135$73$23
45 years$687$404$228$124$66$20
46 years$664$386$214$115$60$18
47 years$643$368$201$106$55$15
48 years$622$351$189$98$50$14
49 years$603$336$178$91$45$12
50 years$584$321$167$84$41$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $598,000, adding $4,569 every year, while hoping to spend $44,866 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: 28/49/23 Blend
54$598,000$598,000$598,000$598,000
55$663,709$632,015$622,746$677,402
56$683,670$615,247$595,871$671,715
57$704,164$596,153$566,592$661,355
58$725,197$574,572$534,781$649,284
59$746,775$550,335$500,304$635,385
60$768,904$523,259$463,022$619,533
61$791,587$493,154$422,789$601,597
62$814,829$459,818$379,452$581,438
63$838,630$423,038$332,852$558,909
64$862,990$382,586$282,822$533,853
65$887,908$338,226$229,189$506,108
66$913,379$289,704$171,772$475,498
67$939,398$236,754$110,381$441,840
68$965,956$179,094$44,818$404,940
69$993,041$116,427$0$364,592
70$1,020,639$48,440$0$326,751
71$1,048,730$0$0$297,155
72$1,077,291$0$0$278,194
73$1,106,297$0$0$285,436
74$1,135,713$0$0$292,751
75$1,165,502$0$0$300,126
76$1,195,618$0$0$307,544
77$1,226,010$0$0$314,989
78$1,256,618$0$0$322,439
79$1,287,373$0$0$329,872
80$1,318,197$0$0$337,261
81$1,348,999$0$0$344,576
82$1,379,677$0$0$351,785
83$1,410,117$0$0$358,849
84$1,440,188$0$0$365,725
85$1,469,742$0$0$372,367
86$1,498,615$0$0$378,720
87$1,526,620$0$0$384,725
88$1,553,548$0$0$390,315
89$1,579,167$0$0$395,414
90$1,603,213$0$0$399,941
91$1,625,397$0$0$403,801
92$1,645,390$0$0$406,892
93$1,662,831$0$0$409,098
94$1,677,313$0$0$410,291
95$1,688,385$0$0$410,329
96$1,695,547$0$0$409,053
97$1,698,240$0$0$406,289
98$1,695,845$0$0$401,842
99$1,687,673$0$0$395,496
100$1,672,962$0$0$387,011