Can I retire at age 55 with 624,000?

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 $624,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$51,529$51,070$50,623$50,185$49,759$48,185
2 years$25,510$25,034$24,574$24,128$23,695$22,124
3 years$16,837$16,360$15,901$15,459$15,033$13,514
4 years$12,502$12,027$11,572$11,137$10,722$9,266
5 years$9,902$9,429$8,980$8,554$8,150$6,762
6 years$8,169$7,699$7,257$6,841$6,449$5,129
7 years$6,931$6,466$6,031$5,624$5,245$3,993
8 years$6,004$5,543$5,115$4,718$4,351$3,167
9 years$5,283$4,826$4,405$4,019$3,664$2,546
10 years$4,706$4,254$3,841$3,464$3,122$2,069
11 years$4,235$3,787$3,381$3,015$2,685$1,694
12 years$3,842$3,399$3,001$2,645$2,327$1,397
13 years$3,510$3,072$2,681$2,335$2,029$1,157
14 years$3,226$2,792$2,409$2,073$1,779$963
15 years$2,980$2,551$2,175$1,848$1,566$804
16 years$2,765$2,340$1,972$1,655$1,384$673
17 years$2,575$2,155$1,794$1,487$1,227$564
18 years$2,407$1,991$1,638$1,340$1,091$474
19 years$2,256$1,846$1,499$1,211$973$399
20 years$2,121$1,715$1,376$1,097$869$337
21 years$1,999$1,597$1,266$995$777$284
22 years$1,888$1,491$1,167$905$697$240
23 years$1,786$1,395$1,077$824$626$203
24 years$1,694$1,307$996$752$562$172
25 years$1,609$1,226$923$686$506$145
26 years$1,530$1,153$856$628$456$123
27 years$1,458$1,085$795$575$411$104
28 years$1,391$1,022$739$526$371$88
29 years$1,328$964$687$483$335$75
30 years$1,270$911$640$443$302$63
31 years$1,216$861$597$407$273$54
32 years$1,165$814$557$374$247$46
33 years$1,117$771$520$344$224$39
34 years$1,073$731$486$316$203$33
35 years$1,031$693$454$291$184$28
36 years$991$658$425$268$166$24
37 years$954$625$398$247$151$20
38 years$918$594$372$228$137$17
39 years$885$565$349$210$124$14
40 years$853$537$327$194$112$12
41 years$823$512$307$179$102$10
42 years$794$487$288$165$93$9
43 years$767$464$270$152$84$7
44 years$741$443$253$141$76$6
45 years$717$422$238$130$69$5
46 years$693$403$223$120$63$5
47 years$671$384$210$111$57$4
48 years$649$367$197$102$52$3
49 years$629$350$185$95$47$3
50 years$609$335$174$87$43$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $624,000, adding $5,582 every year, while hoping to spend $42,268 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: 47/48/5 Blend
54$624,000$624,000$624,000$624,000
55$693,406$660,334$650,662$724,836
56$719,160$647,717$627,486$734,335
57$746,125$633,066$602,117$739,717
58$774,379$616,236$574,438$744,553
59$804,008$597,073$544,323$748,804
60$835,104$575,417$511,645$752,430
61$867,768$551,096$476,269$755,391
62$902,110$523,929$438,053$757,645
63$938,247$493,724$396,851$759,150
64$976,311$460,279$352,508$759,862
65$1,016,442$423,380$304,864$759,738
66$1,058,794$382,800$253,751$758,736
67$1,103,533$338,299$198,994$756,814
68$1,150,843$289,626$140,411$753,928
69$1,200,924$236,512$77,809$750,038
70$1,253,993$178,676$10,990$745,105
71$1,310,288$115,818$0$739,091
72$1,370,069$47,625$0$735,179
73$1,433,620$0$0$730,954
74$1,501,254$0$0$739,672
75$1,573,311$0$0$775,800
76$1,650,164$0$0$814,374
77$1,732,222$0$0$855,605
78$1,819,933$0$0$899,724
79$1,913,787$0$0$946,984
80$2,014,324$0$0$997,662
81$2,122,133$0$0$1,052,063
82$2,237,862$0$0$1,110,521
83$2,362,223$0$0$1,173,403
84$2,495,996$0$0$1,241,112
85$2,640,038$0$0$1,314,090
86$2,795,290$0$0$1,392,822
87$2,962,785$0$0$1,477,843
88$3,143,660$0$0$1,569,739
89$3,339,162$0$0$1,669,155
90$3,550,663$0$0$1,776,800
91$3,779,671$0$0$1,893,452
92$4,027,843$0$0$2,019,968
93$4,297,002$0$0$2,157,291
94$4,589,153$0$0$2,306,455
95$4,906,499$0$0$2,468,603
96$5,251,465$0$0$2,644,986
97$5,626,721$0$0$2,836,984
98$6,035,199$0$0$3,046,116
99$6,480,132$0$0$3,274,052
100$6,965,071$0$0$3,522,630