Can I retire at age 55 with 642,000?

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 $642,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$53,016$52,544$52,083$51,633$51,194$49,715
2 years$26,245$25,757$25,283$24,824$24,378$22,899
3 years$17,323$16,832$16,360$15,905$15,466$14,035
4 years$12,863$12,373$11,906$11,458$11,031$9,657
5 years$10,187$9,701$9,239$8,801$8,385$7,074
6 years$8,404$7,922$7,467$7,038$6,635$5,386
7 years$7,131$6,653$6,205$5,787$5,396$4,210
8 years$6,177$5,702$5,262$4,854$4,477$3,353
9 years$5,435$4,965$4,532$4,135$3,770$2,707
10 years$4,842$4,376$3,951$3,564$3,212$2,209
11 years$4,357$3,896$3,479$3,102$2,763$1,818
12 years$3,953$3,497$3,087$2,721$2,394$1,505
13 years$3,611$3,160$2,758$2,402$2,088$1,253
14 years$3,319$2,873$2,478$2,132$1,830$1,047
15 years$3,066$2,624$2,238$1,902$1,611$879
16 years$2,844$2,408$2,029$1,703$1,424$739
17 years$2,649$2,217$1,846$1,530$1,263$623
18 years$2,476$2,049$1,685$1,379$1,123$527
19 years$2,321$1,899$1,543$1,246$1,001$446
20 years$2,182$1,765$1,416$1,128$894$378
21 years$2,056$1,644$1,302$1,024$800$321
22 years$1,942$1,534$1,200$931$717$272
23 years$1,838$1,435$1,108$848$644$231
24 years$1,743$1,344$1,025$773$578$197
25 years$1,655$1,262$949$706$521$168
26 years$1,575$1,186$880$646$469$143
27 years$1,500$1,116$818$591$423$122
28 years$1,431$1,052$760$542$381$104
29 years$1,367$992$707$497$344$88
30 years$1,307$937$659$456$311$75
31 years$1,251$886$614$419$281$64
32 years$1,199$838$573$385$255$55
33 years$1,150$794$535$354$230$47
34 years$1,104$752$500$326$209$40
35 years$1,060$713$467$300$189$34
36 years$1,020$677$437$276$171$29
37 years$981$643$409$254$155$25
38 years$945$611$383$234$141$21
39 years$910$581$359$216$128$18
40 years$878$553$337$199$116$15
41 years$847$526$316$184$105$13
42 years$817$501$296$170$95$11
43 years$789$478$278$157$86$10
44 years$763$455$261$145$78$8
45 years$737$434$245$134$71$7
46 years$713$414$230$123$65$6
47 years$690$395$216$114$59$5
48 years$668$377$203$105$53$4
49 years$647$360$191$97$48$4
50 years$627$344$179$90$44$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $642,000, adding $6,138 every year, while hoping to spend $21,972 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: 52/19/29 Blend
54$642,000$642,000$642,000$642,000
55$713,815$679,789$669,838$744,838
56$763,246$689,721$668,900$777,003
57$816,983$699,403$667,194$809,268
58$875,441$708,800$664,671$843,938
59$939,079$717,873$661,279$881,253
60$1,008,399$726,583$656,966$921,478
61$1,083,956$734,886$651,675$964,905
62$1,166,360$742,736$645,347$1,011,855
63$1,256,283$750,084$637,920$1,062,687
64$1,354,462$756,877$629,329$1,117,793
65$1,461,712$763,058$619,506$1,177,607
66$1,578,928$768,570$608,381$1,242,611
67$1,707,096$773,347$595,879$1,313,334
68$1,847,301$777,322$581,922$1,390,361
69$2,000,739$780,424$566,429$1,474,338
70$2,168,725$782,575$549,315$1,565,980
71$2,352,709$783,695$530,492$1,666,074
72$2,554,286$783,698$509,864$1,775,488
73$2,775,216$782,491$487,337$1,895,184
74$3,017,432$779,977$462,807$2,026,221
75$3,283,067$776,053$436,168$2,169,767
76$3,574,469$770,609$407,309$2,327,113
77$3,894,226$763,530$376,114$2,499,685
78$4,245,185$754,690$342,462$2,689,052
79$4,630,484$743,961$306,226$2,896,950
80$5,053,582$731,204$267,272$3,125,293
81$5,518,285$716,271$225,464$3,376,191
82$6,028,789$699,007$180,656$3,651,975
83$6,589,716$679,248$132,697$3,955,215
84$7,206,155$656,819$81,431$4,288,747
85$7,883,716$631,537$26,692$4,655,698
86$8,628,578$603,205$0$5,059,519
87$9,447,549$571,618$0$5,513,833
88$10,348,129$536,557$0$6,022,475
89$11,338,581$497,792$0$6,581,865
90$12,428,011$455,077$0$7,197,172
91$13,626,448$408,156$0$7,874,091
92$14,944,945$356,756$0$8,618,902
93$16,395,680$300,587$0$9,438,524
94$17,992,070$239,347$0$10,340,585
95$19,748,899$172,712$0$11,333,493
96$21,682,455$100,344$0$12,426,513
97$23,810,689$21,884$0$13,629,858
98$26,153,375$0$0$14,954,786
99$28,732,307$0$0$16,426,885
100$31,571,496$0$0$18,052,660