Can I retire at age 55 with 602,000?

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 $602,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$49,713$49,270$48,838$48,416$48,004$47,444
2 years$24,610$24,152$23,708$23,277$22,859$22,295
3 years$16,244$15,784$15,340$14,914$14,503$13,952
4 years$12,061$11,603$11,164$10,745$10,344$9,811
5 years$9,553$9,097$8,664$8,253$7,863$7,350
6 years$7,881$7,428$7,002$6,600$6,222$5,729
7 years$6,687$6,238$5,818$5,426$5,060$4,588
8 years$5,792$5,347$4,934$4,552$4,198$3,746
9 years$5,096$4,656$4,250$3,877$3,535$3,104
10 years$4,540$4,104$3,705$3,342$3,012$2,601
11 years$4,085$3,653$3,262$2,909$2,590$2,199
12 years$3,707$3,279$2,895$2,551$2,245$1,872
13 years$3,386$2,963$2,586$2,252$1,958$1,604
14 years$3,112$2,694$2,324$1,999$1,716$1,380
15 years$2,875$2,461$2,098$1,783$1,511$1,193
16 years$2,667$2,258$1,902$1,597$1,335$1,035
17 years$2,484$2,079$1,731$1,435$1,184$900
18 years$2,322$1,921$1,580$1,293$1,053$784
19 years$2,177$1,781$1,447$1,168$938$685
20 years$2,046$1,655$1,328$1,058$838$600
21 years$1,928$1,541$1,221$960$750$526
22 years$1,821$1,439$1,125$873$672$462
23 years$1,723$1,346$1,039$795$604$406
24 years$1,634$1,261$961$725$542$357
25 years$1,552$1,183$890$662$488$314
26 years$1,476$1,112$826$606$440$277
27 years$1,407$1,046$767$554$396$244
28 years$1,342$986$713$508$358$216
29 years$1,282$930$663$466$323$190
30 years$1,225$878$618$427$292$168
31 years$1,173$830$576$393$264$149
32 years$1,124$786$537$361$239$131
33 years$1,078$744$502$332$216$116
34 years$1,035$705$469$305$196$103
35 years$994$669$438$281$177$91
36 years$956$635$410$259$160$81
37 years$920$603$384$238$145$71
38 years$886$573$359$220$132$63
39 years$854$545$337$203$120$56
40 years$823$518$316$187$108$49
41 years$794$494$296$172$98$44
42 years$766$470$278$159$89$39
43 years$740$448$260$147$81$34
44 years$715$427$244$136$74$30
45 years$691$407$230$125$67$27
46 years$669$388$216$116$61$24
47 years$647$371$203$107$55$21
48 years$626$354$190$99$50$19
49 years$607$338$179$91$45$17
50 years$588$323$168$84$41$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $602,000, adding $4,609 every year, while hoping to spend $35,333 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: 58/23/19 Blend
54$602,000$602,000$602,000$602,000
55$668,158$636,252$626,921$703,309
56$698,716$629,835$610,329$721,286
57$731,207$621,918$591,997$736,634
58$765,790$612,392$571,829$752,573
59$802,641$601,140$549,725$769,169
60$841,951$588,036$525,582$786,491
61$883,930$572,950$499,289$804,623
62$928,808$555,742$470,732$823,654
63$976,837$536,264$439,792$843,687
64$1,028,294$514,360$406,345$864,836
65$1,083,482$489,865$370,259$887,230
66$1,142,733$462,605$331,399$911,014
67$1,206,413$432,394$289,622$936,347
68$1,274,923$399,037$244,780$963,410
69$1,348,703$362,327$196,717$992,404
70$1,428,235$322,046$145,273$1,023,554
71$1,514,053$277,963$90,276$1,057,110
72$1,606,737$229,835$31,552$1,093,352
73$1,706,931$177,403$0$1,132,592
74$1,815,338$120,396$0$1,181,484
75$1,932,733$58,526$0$1,241,343
76$2,059,967$0$0$1,306,237
77$2,197,978$0$0$1,378,841
78$2,347,794$0$0$1,473,778
79$2,510,549$0$0$1,576,958
80$2,687,487$0$0$1,689,179
81$2,879,981$0$0$1,811,313
82$3,089,538$0$0$1,944,326
83$3,317,817$0$0$2,089,276
84$3,566,645$0$0$2,247,329
85$3,838,031$0$0$2,419,770
86$4,134,187$0$0$2,608,011
87$4,457,549$0$0$2,813,607
88$4,810,797$0$0$3,038,271
89$5,196,880$0$0$3,283,888
90$5,619,049$0$0$3,552,532
91$6,080,880$0$0$3,846,490
92$6,586,312$0$0$4,168,276
93$7,139,681$0$0$4,520,662
94$7,745,762$0$0$4,906,699
95$8,409,816$0$0$5,329,747
96$9,137,634$0$0$5,793,507
97$9,935,594$0$0$6,302,054
98$10,810,723$0$0$6,859,877
99$11,770,759$0$0$7,471,922
100$12,824,225$0$0$8,143,633