Can I retire at age 55 with 608,000?

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 $608,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$50,208$49,761$49,325$48,899$48,483$48,197
2 years$24,855$24,393$23,944$23,509$23,087$22,799
3 years$16,406$15,941$15,493$15,062$14,647$14,366
4 years$12,182$11,718$11,275$10,852$10,447$10,174
5 years$9,648$9,187$8,750$8,335$7,941$7,678
6 years$7,959$7,502$7,071$6,666$6,284$6,030
7 years$6,754$6,300$5,876$5,480$5,110$4,866
8 years$5,850$5,400$4,984$4,597$4,240$4,005
9 years$5,147$4,702$4,292$3,916$3,570$3,346
10 years$4,585$4,145$3,742$3,375$3,042$2,827
11 years$4,126$3,690$3,295$2,938$2,616$2,411
12 years$3,743$3,312$2,924$2,577$2,267$2,071
13 years$3,420$2,993$2,612$2,275$1,977$1,790
14 years$3,143$2,720$2,347$2,019$1,733$1,555
15 years$2,903$2,485$2,119$1,801$1,526$1,357
16 years$2,694$2,280$1,921$1,613$1,349$1,188
17 years$2,509$2,100$1,748$1,449$1,196$1,043
18 years$2,345$1,940$1,596$1,306$1,063$919
19 years$2,198$1,798$1,461$1,180$948$811
20 years$2,066$1,671$1,341$1,069$846$717
21 years$1,947$1,557$1,233$970$758$635
22 years$1,839$1,453$1,137$882$679$563
23 years$1,741$1,359$1,050$803$610$501
24 years$1,650$1,273$971$732$548$445
25 years$1,568$1,195$899$669$493$396
26 years$1,491$1,123$834$612$444$353
27 years$1,421$1,057$774$560$400$315
28 years$1,355$996$720$513$361$281
29 years$1,294$939$670$470$326$251
30 years$1,238$887$624$432$295$224
31 years$1,185$839$582$396$266$200
32 years$1,135$794$543$364$241$179
33 years$1,089$752$507$335$218$160
34 years$1,045$712$473$308$198$144
35 years$1,004$676$443$284$179$129
36 years$966$641$414$261$162$115
37 years$929$609$388$241$147$103
38 years$895$579$363$222$133$92
39 years$862$550$340$205$121$83
40 years$831$524$319$189$110$74
41 years$802$498$299$174$99$67
42 years$774$475$280$161$90$60
43 years$748$452$263$148$82$53
44 years$722$431$247$137$74$48
45 years$698$411$232$127$67$43
46 years$675$392$218$117$61$39
47 years$654$374$205$108$56$35
48 years$633$357$192$100$50$31
49 years$613$341$181$92$46$28
50 years$594$326$170$85$42$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $608,000, adding $2,000 every year, while hoping to spend $30,962 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: 77/12/11 Blend
54$608,000$608,000$608,000$608,000
55$672,079$639,855$630,431$722,320
56$707,688$638,265$618,607$754,075
57$745,891$635,558$605,349$784,735
58$786,920$631,649$590,577$817,473
59$831,031$626,445$574,206$852,484
60$878,501$619,846$556,147$889,981
61$929,639$611,749$536,309$930,203
62$984,781$602,044$514,594$973,409
63$1,044,298$590,613$490,902$1,019,889
64$1,108,596$577,333$465,127$1,069,961
65$1,178,123$562,072$437,159$1,123,973
66$1,253,369$544,691$406,882$1,182,314
67$1,334,876$525,044$374,175$1,245,408
68$1,423,236$502,974$338,913$1,313,728
69$1,519,104$478,318$300,964$1,387,790
70$1,623,197$450,900$260,191$1,468,167
71$1,736,306$420,537$216,450$1,555,491
72$1,859,299$387,034$169,592$1,650,457
73$1,993,134$350,184$119,459$1,753,833
74$2,138,861$309,771$65,888$1,866,466
75$2,297,639$265,564$8,710$1,989,290
76$2,470,742$217,320$0$2,123,336
77$2,659,571$164,782$0$2,275,879
78$2,865,671$107,680$0$2,443,524
79$3,090,740$45,727$0$2,626,653
80$3,336,649$0$0$2,826,815
81$3,605,455$0$0$3,048,539
82$3,899,427$0$0$3,297,644
83$4,221,059$0$0$3,570,210
84$4,573,100$0$0$3,868,568
85$4,958,577$0$0$4,195,286
86$5,380,822$0$0$4,553,191
87$5,843,504$0$0$4,945,397
88$6,350,666$0$0$5,375,333
89$6,906,758$0$0$5,846,775
90$7,516,684$0$0$6,363,885
91$8,185,845$0$0$6,931,243
92$8,920,186$0$0$7,553,896
93$9,726,262$0$0$8,237,403
94$10,611,287$0$0$8,987,888
95$11,583,214$0$0$9,812,095
96$12,650,798$0$0$10,717,456
97$13,823,688$0$0$11,712,157
98$15,112,512$0$0$12,805,215
99$16,528,978$0$0$14,006,565
100$18,085,986$0$0$15,327,152