Can I retire at age 55 with 623,000?

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 $623,000?

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$51,447$50,988$50,541$50,105$49,679$49,099
2 years$25,469$24,994$24,535$24,089$23,657$23,073
3 years$16,810$16,334$15,876$15,434$15,009$14,439
4 years$12,482$12,007$11,553$11,119$10,704$10,154
5 years$9,886$9,414$8,966$8,541$8,137$7,607
6 years$8,156$7,687$7,246$6,830$6,439$5,929
7 years$6,920$6,456$6,021$5,615$5,236$4,748
8 years$5,994$5,534$5,106$4,711$4,344$3,877
9 years$5,274$4,818$4,398$4,012$3,658$3,212
10 years$4,698$4,247$3,834$3,459$3,117$2,692
11 years$4,228$3,781$3,376$3,010$2,681$2,276
12 years$3,836$3,393$2,996$2,640$2,323$1,938
13 years$3,504$3,067$2,677$2,331$2,026$1,660
14 years$3,221$2,787$2,405$2,069$1,776$1,429
15 years$2,975$2,546$2,171$1,845$1,564$1,235
16 years$2,760$2,336$1,969$1,652$1,382$1,071
17 years$2,571$2,152$1,791$1,485$1,225$931
18 years$2,403$1,988$1,635$1,338$1,089$812
19 years$2,252$1,843$1,497$1,209$971$709
20 years$2,117$1,712$1,374$1,095$867$621
21 years$1,995$1,595$1,264$994$776$544
22 years$1,885$1,489$1,165$903$696$478
23 years$1,784$1,392$1,075$823$625$420
24 years$1,691$1,305$995$750$561$370
25 years$1,606$1,224$921$685$505$325
26 years$1,528$1,151$854$627$455$287
27 years$1,456$1,083$793$574$410$253
28 years$1,389$1,020$738$526$370$223
29 years$1,326$963$686$482$334$197
30 years$1,268$909$639$442$302$174
31 years$1,214$859$596$406$273$154
32 years$1,163$813$556$373$247$136
33 years$1,116$770$519$343$224$120
34 years$1,071$730$485$316$202$106
35 years$1,029$692$454$291$183$94
36 years$989$657$424$268$166$83
37 years$952$624$397$247$151$74
38 years$917$593$372$227$136$65
39 years$883$564$348$210$124$58
40 years$852$537$327$193$112$51
41 years$822$511$306$178$102$45
42 years$793$486$287$165$92$40
43 years$766$463$270$152$84$36
44 years$740$442$253$140$76$32
45 years$716$421$238$130$69$28
46 years$692$402$223$120$63$25
47 years$670$384$210$111$57$22
48 years$648$366$197$102$52$19
49 years$628$350$185$94$47$17
50 years$608$334$174$87$43$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $623,000, adding $2,795 every year, while hoping to spend $25,217 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: 52/21/27 Blend
54$623,000$623,000$623,000$623,000
55$689,429$656,410$646,754$719,936
56$732,920$661,743$641,589$746,742
57$780,002$666,493$635,406$773,104
58$831,015$670,604$628,145$801,279
59$886,331$674,016$619,741$831,449
60$946,363$676,669$610,128$863,818
61$1,011,560$678,494$599,236$898,611
62$1,082,421$679,422$586,992$936,077
63$1,159,492$679,377$573,320$976,490
64$1,243,374$678,281$558,140$1,020,156
65$1,334,728$676,047$541,368$1,067,412
66$1,434,284$672,586$522,917$1,118,632
67$1,542,842$667,804$502,696$1,174,227
68$1,661,283$661,598$480,608$1,234,654
69$1,790,580$653,862$456,554$1,300,419
70$1,931,800$644,482$430,429$1,372,079
71$2,086,120$633,338$402,125$1,450,251
72$2,254,834$620,302$371,526$1,535,619
73$2,439,370$605,239$338,515$1,628,935
74$2,641,296$588,006$302,965$1,731,034
75$2,862,341$568,451$264,748$1,842,837
76$3,104,410$546,415$223,726$1,965,361
77$3,369,597$521,728$179,759$2,099,731
78$3,660,213$494,209$132,698$2,247,189
79$3,978,800$463,671$82,389$2,409,107
80$4,328,158$429,911$28,669$2,587,000
81$4,711,371$392,717$0$2,782,543
82$5,131,837$351,866$0$3,005,841
83$5,593,297$307,121$0$3,260,028
84$6,099,874$258,230$0$3,539,143
85$6,656,107$204,929$0$3,845,729
86$7,266,999$146,940$0$4,182,590
87$7,938,058$83,965$0$4,552,819
88$8,675,355$15,695$0$4,959,823
89$9,485,577$0$0$5,407,363
90$10,376,089$0$0$5,913,031
91$11,355,007$0$0$6,472,954
92$12,431,272$0$0$7,088,629
93$13,614,735$0$0$7,765,698
94$14,916,249$0$0$8,510,381
95$16,347,771$0$0$9,329,528
96$17,922,475$0$0$10,230,686
97$19,654,876$0$0$11,222,174
98$21,560,968$0$0$12,313,154
99$23,658,373$0$0$13,513,723
100$25,966,505$0$0$14,835,006