Can I retire at age 55 with 620,000?

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 $620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$51,199$50,743$50,298$49,864$49,440$48,581
2 years$25,346$24,874$24,417$23,973$23,543$22,680
3 years$16,730$16,255$15,799$15,360$14,936$14,097
4 years$12,422$11,949$11,498$11,066$10,653$9,843
5 years$9,838$9,369$8,923$8,500$8,098$7,320
6 years$8,116$7,650$7,211$6,797$6,408$5,663
7 years$6,887$6,425$5,992$5,588$5,211$4,499
8 years$5,965$5,507$5,082$4,688$4,323$3,644
9 years$5,249$4,795$4,377$3,993$3,641$2,995
10 years$4,676$4,226$3,816$3,442$3,102$2,488
11 years$4,207$3,763$3,360$2,996$2,668$2,085
12 years$3,817$3,377$2,982$2,628$2,312$1,760
13 years$3,488$3,052$2,664$2,320$2,016$1,493
14 years$3,205$2,774$2,393$2,059$1,767$1,274
15 years$2,961$2,534$2,161$1,836$1,556$1,090
16 years$2,747$2,325$1,959$1,644$1,375$936
17 years$2,558$2,141$1,783$1,477$1,219$806
18 years$2,391$1,979$1,627$1,331$1,084$696
19 years$2,242$1,834$1,490$1,203$966$602
20 years$2,107$1,704$1,367$1,090$863$521
21 years$1,986$1,587$1,258$989$772$452
22 years$1,875$1,482$1,159$899$692$393
23 years$1,775$1,386$1,070$819$622$342
24 years$1,683$1,298$990$747$559$297
25 years$1,598$1,218$917$682$503$259
26 years$1,521$1,145$850$624$453$226
27 years$1,449$1,078$790$571$408$197
28 years$1,382$1,016$734$523$368$172
29 years$1,320$958$683$480$333$150
30 years$1,262$905$636$440$301$131
31 years$1,208$855$593$404$272$114
32 years$1,158$809$553$372$246$100
33 years$1,110$766$517$342$222$87
34 years$1,066$726$483$314$201$76
35 years$1,024$689$451$289$182$67
36 years$985$654$422$267$165$58
37 years$948$621$395$246$150$51
38 years$912$590$370$226$136$45
39 years$879$561$347$209$123$39
40 years$848$534$325$192$112$34
41 years$818$508$305$178$101$30
42 years$789$484$286$164$92$26
43 years$762$461$268$151$83$23
44 years$737$440$252$140$76$20
45 years$712$419$236$129$69$18
46 years$689$400$222$119$62$15
47 years$667$382$209$110$57$13
48 years$645$364$196$102$51$12
49 years$625$348$184$94$47$10
50 years$605$332$173$87$42$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $620,000, adding $6,775 every year, while hoping to spend $51,133 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: 27/47/26 Blend
54$620,000$620,000$620,000$620,000
55$690,228$657,368$647,758$703,118
56$706,227$635,174$615,053$691,787
57$722,143$610,179$579,539$674,757
58$737,915$582,191$541,067$655,418
59$753,472$551,008$499,482$633,607
60$768,735$516,417$454,624$609,152
61$783,615$478,190$406,323$581,868
62$798,012$436,089$354,402$551,562
63$811,812$389,861$298,678$518,025
64$824,891$339,239$238,958$481,037
65$837,108$283,939$175,041$440,363
66$848,306$223,665$106,717$395,752
67$858,308$158,099$33,768$346,939
68$866,920$86,911$0$293,640
69$873,925$9,748$0$247,782
70$879,078$0$0$207,606
71$882,112$0$0$201,608
72$882,727$0$0$199,874
73$880,589$0$0$197,261
74$875,330$0$0$193,656
75$866,540$0$0$188,937
76$853,763$0$0$182,965
77$836,497$0$0$175,589
78$814,182$0$0$166,641
79$786,201$0$0$155,934
80$751,868$0$0$143,261
81$710,426$0$0$128,396
82$661,035$0$0$111,087
83$602,768$0$0$91,054
84$534,599$0$0$67,989
85$455,392$0$0$41,553
86$363,894$0$0$11,370
87$258,717$0$0$0
88$138,330$0$0$0
89$1,040$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0