Can I retire at age 55 with 601,000?

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 $601,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$49,630$49,188$48,757$48,336$47,925$46,804
2 years$24,569$24,112$23,668$23,238$22,821$21,699
3 years$16,217$15,757$15,315$14,889$14,479$13,389
4 years$12,041$11,583$11,145$10,727$10,326$9,278
5 years$9,537$9,081$8,649$8,239$7,850$6,846
6 years$7,868$7,416$6,990$6,589$6,211$5,253
7 years$6,676$6,228$5,809$5,417$5,052$4,139
8 years$5,782$5,338$4,926$4,544$4,191$3,323
9 years$5,088$4,648$4,243$3,871$3,529$2,706
10 years$4,533$4,097$3,699$3,337$3,007$2,228
11 years$4,078$3,647$3,257$2,904$2,586$1,849
12 years$3,700$3,274$2,890$2,547$2,241$1,546
13 years$3,381$2,958$2,582$2,249$1,954$1,299
14 years$3,107$2,689$2,320$1,996$1,713$1,096
15 years$2,870$2,456$2,095$1,780$1,508$929
16 years$2,663$2,254$1,899$1,594$1,333$789
17 years$2,480$2,076$1,728$1,432$1,182$672
18 years$2,318$1,918$1,578$1,291$1,051$574
19 years$2,173$1,778$1,444$1,166$937$491
20 years$2,043$1,652$1,325$1,056$837$420
21 years$1,925$1,539$1,219$959$749$361
22 years$1,818$1,436$1,124$872$671$310
23 years$1,721$1,343$1,037$794$602$266
24 years$1,631$1,259$959$724$542$229
25 years$1,549$1,181$889$661$487$197
26 years$1,474$1,110$824$605$439$170
27 years$1,404$1,045$765$553$396$146
28 years$1,339$984$711$507$357$126
29 years$1,279$929$662$465$322$109
30 years$1,223$877$617$427$291$94
31 years$1,171$829$575$392$263$81
32 years$1,122$784$536$360$238$70
33 years$1,076$743$501$331$216$60
34 years$1,033$704$468$305$195$52
35 years$993$668$438$281$177$45
36 years$955$634$409$258$160$39
37 years$918$602$383$238$145$33
38 years$884$572$359$219$132$29
39 years$852$544$336$202$119$25
40 years$822$518$315$187$108$22
41 years$793$493$295$172$98$19
42 years$765$469$277$159$89$16
43 years$739$447$260$147$81$14
44 years$714$426$244$135$73$12
45 years$690$406$229$125$67$10
46 years$668$388$215$116$61$9
47 years$646$370$202$107$55$8
48 years$625$353$190$99$50$7
49 years$606$337$179$91$45$6
50 years$587$322$168$84$41$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $601,000, adding $3,853 every year, while hoping to spend $34,836 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: 50/33/17 Blend
54$601,000$601,000$601,000$601,000
55$666,276$634,423$625,108$696,275
56$697,171$628,445$608,984$711,386
57$730,050$621,006$591,152$723,879
58$765,078$611,998$571,518$736,700
59$802,437$601,307$549,985$749,891
60$842,324$588,810$526,449$763,501
61$884,959$574,379$500,802$777,587
62$930,579$557,878$472,933$792,214
63$979,445$539,161$442,724$807,456
64$1,031,846$518,077$410,052$823,395
65$1,088,095$494,464$374,790$840,128
66$1,148,538$468,150$336,802$857,761
67$1,213,554$438,954$295,950$876,417
68$1,283,559$406,686$252,088$896,232
69$1,359,011$371,142$205,061$917,364
70$1,440,412$332,110$154,712$939,985
71$1,528,313$289,362$100,875$964,293
72$1,623,321$242,661$43,374$990,508
73$1,726,102$191,754$0$1,018,880
74$1,837,388$136,374$0$1,052,949
75$1,957,986$76,240$0$1,098,371
76$2,088,779$11,055$0$1,147,657
77$2,230,743$0$0$1,201,233
78$2,384,947$0$0$1,281,180
79$2,552,570$0$0$1,372,503
80$2,734,909$0$0$1,471,902
81$2,933,388$0$0$1,580,160
82$3,149,576$0$0$1,698,142
83$3,385,201$0$0$1,826,797
84$3,642,162$0$0$1,967,171
85$3,922,551$0$0$2,120,416
86$4,228,669$0$0$2,287,799
87$4,563,051$0$0$2,470,714
88$4,928,487$0$0$2,670,698
89$5,328,046$0$0$2,889,441
90$5,765,112$0$0$3,128,806
91$6,243,407$0$0$3,390,841
92$6,767,032$0$0$3,677,806
93$7,340,500$0$0$3,992,186
94$7,968,783$0$0$4,336,719
95$8,657,358$0$0$4,714,420
96$9,412,253$0$0$5,128,610
97$10,240,111$0$0$5,582,947
98$11,148,246$0$0$6,081,460
99$12,144,716$0$0$6,628,586
100$13,238,395$0$0$7,229,214