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%17.6%
1 years$50,208$49,761$49,325$48,899$48,483$46,987
2 years$24,855$24,393$23,944$23,509$23,087$21,593
3 years$16,406$15,941$15,493$15,062$14,647$13,202
4 years$12,182$11,718$11,275$10,852$10,447$9,062
5 years$9,648$9,187$8,750$8,335$7,941$6,620
6 years$7,959$7,502$7,071$6,666$6,284$5,027
7 years$6,754$6,300$5,876$5,480$5,110$3,918
8 years$5,850$5,400$4,984$4,597$4,240$3,111
9 years$5,147$4,702$4,292$3,916$3,570$2,505
10 years$4,585$4,145$3,742$3,375$3,042$2,037
11 years$4,126$3,690$3,295$2,938$2,616$1,671
12 years$3,743$3,312$2,924$2,577$2,267$1,379
13 years$3,420$2,993$2,612$2,275$1,977$1,144
14 years$3,143$2,720$2,347$2,019$1,733$953
15 years$2,903$2,485$2,119$1,801$1,526$797
16 years$2,694$2,280$1,921$1,613$1,349$668
17 years$2,509$2,100$1,748$1,449$1,196$561
18 years$2,345$1,940$1,596$1,306$1,063$472
19 years$2,198$1,798$1,461$1,180$948$398
20 years$2,066$1,671$1,341$1,069$846$336
21 years$1,947$1,557$1,233$970$758$284
22 years$1,839$1,453$1,137$882$679$240
23 years$1,741$1,359$1,050$803$610$204
24 years$1,650$1,273$971$732$548$172
25 years$1,568$1,195$899$669$493$146
26 years$1,491$1,123$834$612$444$124
27 years$1,421$1,057$774$560$400$105
28 years$1,355$996$720$513$361$89
29 years$1,294$939$670$470$326$76
30 years$1,238$887$624$432$295$64
31 years$1,185$839$582$396$266$55
32 years$1,135$794$543$364$241$46
33 years$1,089$752$507$335$218$39
34 years$1,045$712$473$308$198$34
35 years$1,004$676$443$284$179$28
36 years$966$641$414$261$162$24
37 years$929$609$388$241$147$21
38 years$895$579$363$222$133$17
39 years$862$550$340$205$121$15
40 years$831$524$319$189$110$13
41 years$802$498$299$174$99$11
42 years$774$475$280$161$90$9
43 years$748$452$263$148$82$8
44 years$722$431$247$137$74$7
45 years$698$411$232$127$67$6
46 years$675$392$218$117$61$5
47 years$654$374$205$108$56$4
48 years$633$357$192$100$50$3
49 years$613$341$181$92$46$3
50 years$594$326$170$85$42$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $608,000, adding $5,957 every year, while hoping to spend $45,476 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: 68/26/6 Blend
54$608,000$608,000$608,000$608,000
55$676,161$643,937$634,513$721,144
56$696,743$627,103$607,383$734,881
57$717,900$607,921$577,820$743,799
58$739,644$586,227$545,694$752,316
59$761,983$561,848$510,871$760,384
60$784,929$534,602$473,208$767,952
61$808,489$504,295$432,558$774,966
62$832,673$470,723$388,767$781,366
63$857,487$433,670$341,672$787,089
64$882,939$392,908$291,106$792,068
65$909,034$348,195$236,893$796,230
66$935,775$299,277$178,849$799,497
67$963,166$245,883$116,782$801,786
68$991,206$187,729$50,492$803,007
69$1,019,895$124,514$0$803,065
70$1,049,230$55,920$0$803,153
71$1,079,204$0$0$805,400
72$1,109,808$0$0$811,726
73$1,141,030$0$0$834,496
74$1,172,855$0$0$857,696
75$1,205,262$0$0$881,314
76$1,238,227$0$0$905,328
77$1,271,721$0$0$929,716
78$1,305,707$0$0$954,451
79$1,340,145$0$0$979,502
80$1,374,985$0$0$1,004,830
81$1,410,170$0$0$1,030,392
82$1,445,634$0$0$1,056,138
83$1,481,302$0$0$1,082,011
84$1,517,087$0$0$1,107,944
85$1,552,890$0$0$1,133,863
86$1,588,598$0$0$1,159,682
87$1,624,084$0$0$1,185,305
88$1,659,202$0$0$1,210,622
89$1,693,791$0$0$1,235,511
90$1,727,667$0$0$1,259,833
91$1,760,623$0$0$1,283,432
92$1,792,427$0$0$1,306,134
93$1,822,821$0$0$1,327,743
94$1,851,512$0$0$1,348,040
95$1,878,178$0$0$1,366,780
96$1,902,454$0$0$1,383,692
97$1,923,937$0$0$1,398,469
98$1,942,175$0$0$1,410,774
99$1,956,667$0$0$1,420,227
100$1,966,852$0$0$1,426,411