Can I retire at age 55 with 616,000?

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 $616,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$50,869$50,416$49,974$49,542$49,121$48,628
2 years$25,183$24,714$24,259$23,818$23,391$22,895
3 years$16,622$16,151$15,697$15,261$14,840$14,356
4 years$12,342$11,872$11,424$10,994$10,584$10,115
5 years$9,775$9,308$8,865$8,445$8,046$7,594
6 years$8,064$7,601$7,164$6,753$6,366$5,932
7 years$6,842$6,383$5,954$5,552$5,178$4,761
8 years$5,927$5,471$5,049$4,658$4,295$3,896
9 years$5,215$4,764$4,349$3,967$3,617$3,236
10 years$4,646$4,199$3,791$3,420$3,082$2,718
11 years$4,180$3,738$3,338$2,976$2,651$2,304
12 years$3,793$3,355$2,962$2,611$2,297$1,967
13 years$3,465$3,032$2,647$2,305$2,003$1,689
14 years$3,184$2,756$2,378$2,046$1,756$1,457
15 years$2,942$2,518$2,147$1,825$1,546$1,263
16 years$2,729$2,310$1,947$1,634$1,366$1,098
17 years$2,542$2,127$1,771$1,468$1,212$958
18 years$2,376$1,966$1,617$1,323$1,077$838
19 years$2,227$1,822$1,480$1,195$960$734
20 years$2,094$1,693$1,359$1,083$858$644
21 years$1,973$1,577$1,250$983$767$567
22 years$1,863$1,472$1,152$893$688$499
23 years$1,764$1,377$1,063$814$618$440
24 years$1,672$1,290$983$742$555$388
25 years$1,588$1,211$911$678$499$343
26 years$1,511$1,138$845$620$450$303
27 years$1,439$1,071$784$567$406$268
28 years$1,373$1,009$729$520$366$237
29 years$1,311$952$679$477$330$210
30 years$1,254$899$632$437$299$186
31 years$1,200$850$589$402$270$165
32 years$1,150$804$550$369$244$147
33 years$1,103$761$513$339$221$130
34 years$1,059$722$480$312$200$115
35 years$1,017$685$448$288$181$103
36 years$978$650$420$265$164$91
37 years$941$617$393$244$149$81
38 years$907$586$368$225$135$72
39 years$873$558$345$207$122$64
40 years$842$531$323$191$111$57
41 years$812$505$303$176$101$50
42 years$784$481$284$163$91$45
43 years$757$458$267$150$83$40
44 years$732$437$250$139$75$35
45 years$708$417$235$128$68$31
46 years$684$397$221$118$62$28
47 years$662$379$207$109$56$25
48 years$641$362$195$101$51$22
49 years$621$346$183$93$46$20
50 years$601$330$172$86$42$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $616,000, adding $2,013 every year, while hoping to spend $24,002 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: 30/43/27 Blend
54$616,000$616,000$616,000$616,000
55$680,908$648,260$638,712$695,623
56$724,823$654,487$634,571$713,471
57$772,413$660,215$629,487$730,417
58$824,027$665,393$623,403$748,169
59$880,049$669,969$616,259$766,813
60$940,903$673,887$607,992$786,445
61$1,007,054$677,086$598,538$807,175
62$1,079,012$679,502$587,828$829,122
63$1,157,341$681,067$575,791$852,424
64$1,242,661$681,710$562,350$877,231
65$1,335,652$681,353$547,428$903,711
66$1,437,064$679,916$530,943$932,054
67$1,547,724$677,311$512,809$962,470
68$1,668,539$673,446$492,935$995,191
69$1,800,510$668,226$471,229$1,030,480
70$1,944,739$661,545$447,592$1,068,626
71$2,102,437$653,296$421,921$1,109,952
72$2,274,939$643,361$394,109$1,154,817
73$2,463,716$631,618$364,044$1,203,620
74$2,670,384$617,937$331,609$1,256,805
75$2,896,727$602,179$296,681$1,314,865
76$3,144,706$584,199$259,134$1,378,348
77$3,416,484$563,843$218,832$1,447,860
78$3,714,440$540,946$175,638$1,524,077
79$4,041,196$515,335$129,405$1,607,746
80$4,399,640$486,828$79,981$1,699,697
81$4,792,951$455,231$27,209$1,800,850
82$5,224,633$420,338$0$1,912,224
83$5,698,545$381,934$0$2,043,337
84$6,218,938$339,790$0$2,195,963
85$6,790,494$293,664$0$2,363,694
86$7,418,371$243,300$0$2,548,121
87$8,108,251$188,429$0$2,750,999
88$8,866,396$128,764$0$2,974,270
89$9,699,701$64,006$0$3,220,076
90$10,615,764$0$0$3,490,787
91$11,622,957$0$0$3,791,933
92$12,730,501$0$0$4,156,492
93$13,948,558$0$0$4,557,538
94$15,288,323$0$0$4,998,767
95$16,762,130$0$0$5,484,258
96$18,383,568$0$0$6,018,500
97$20,167,612$0$0$6,606,443
98$22,130,759$0$0$7,253,539
99$24,291,187$0$0$7,965,796
100$26,668,927$0$0$8,749,833