Can I retire at age 55 with 656,000?

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 $656,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$54,172$53,689$53,219$52,759$52,310$50,616
2 years$26,818$26,318$25,834$25,365$24,910$23,218
3 years$17,701$17,199$16,716$16,252$15,804$14,169
4 years$13,143$12,643$12,165$11,708$11,271$9,705
5 years$10,410$9,913$9,441$8,993$8,568$7,075
6 years$8,588$8,094$7,630$7,192$6,780$5,361
7 years$7,287$6,798$6,340$5,913$5,514$4,169
8 years$6,312$5,827$5,377$4,960$4,574$3,302
9 years$5,553$5,073$4,631$4,225$3,852$2,652
10 years$4,947$4,472$4,038$3,642$3,282$2,152
11 years$4,452$3,981$3,555$3,170$2,823$1,760
12 years$4,039$3,573$3,155$2,780$2,446$1,449
13 years$3,690$3,229$2,818$2,454$2,133$1,199
14 years$3,391$2,935$2,532$2,179$1,870$996
15 years$3,133$2,681$2,286$1,943$1,646$830
16 years$2,906$2,460$2,073$1,740$1,455$694
17 years$2,707$2,266$1,886$1,563$1,290$581
18 years$2,530$2,094$1,722$1,409$1,147$488
19 years$2,372$1,940$1,576$1,273$1,023$410
20 years$2,230$1,803$1,447$1,153$913$345
21 years$2,101$1,679$1,331$1,046$817$291
22 years$1,984$1,568$1,226$951$733$245
23 years$1,878$1,466$1,132$866$658$207
24 years$1,781$1,374$1,047$790$591$175
25 years$1,691$1,289$970$722$532$148
26 years$1,609$1,212$900$660$479$125
27 years$1,533$1,140$835$604$432$106
28 years$1,462$1,074$777$553$390$89
29 years$1,396$1,014$723$507$352$76
30 years$1,335$957$673$466$318$64
31 years$1,278$905$628$428$288$54
32 years$1,225$856$586$393$260$46
33 years$1,175$811$547$361$235$39
34 years$1,128$769$511$333$213$33
35 years$1,084$729$478$306$193$28
36 years$1,042$692$447$282$175$24
37 years$1,003$657$418$260$158$20
38 years$965$625$392$239$144$17
39 years$930$594$367$221$130$14
40 years$897$565$344$204$118$12
41 years$865$538$322$188$107$10
42 years$835$512$302$173$97$9
43 years$807$488$284$160$88$7
44 years$779$465$266$148$80$6
45 years$754$444$250$137$73$5
46 years$729$423$235$126$66$4
47 years$705$404$221$116$60$4
48 years$683$386$207$108$54$3
49 years$661$368$195$99$49$3
50 years$640$352$183$92$45$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $656,000, adding $3,039 every year, while hoping to spend $48,556 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: 32/49/19 Blend
54$656,000$656,000$656,000$656,000
55$726,047$691,279$681,111$744,906
56$748,440$673,488$652,265$741,447
57$771,491$653,199$620,825$733,075
58$795,213$630,236$586,653$723,034
59$819,624$604,417$549,605$711,205
60$844,739$575,546$509,530$697,465
61$870,573$543,419$466,270$681,683
62$897,142$507,817$419,661$663,719
63$924,461$468,510$369,530$643,428
64$952,544$425,255$315,697$620,655
65$981,406$377,795$257,976$595,235
66$1,011,061$325,859$196,169$566,995
67$1,041,521$269,158$130,073$535,753
68$1,072,799$207,389$59,473$501,314
69$1,104,907$140,233$0$463,475
70$1,137,854$67,351$0$425,237
71$1,171,649$0$0$396,230
72$1,206,300$0$0$370,456
73$1,241,812$0$0$381,249
74$1,278,189$0$0$392,292
75$1,315,433$0$0$403,585
76$1,353,542$0$0$415,124
77$1,392,512$0$0$426,908
78$1,432,336$0$0$438,931
79$1,473,002$0$0$451,187
80$1,514,495$0$0$463,669
81$1,556,794$0$0$476,368
82$1,599,874$0$0$489,272
83$1,643,704$0$0$502,368
84$1,688,244$0$0$515,641
85$1,733,449$0$0$529,071
86$1,779,265$0$0$542,638
87$1,825,627$0$0$556,316
88$1,872,462$0$0$570,077
89$1,919,684$0$0$583,887
90$1,967,194$0$0$597,709
91$2,014,878$0$0$611,500
92$2,062,608$0$0$625,213
93$2,110,236$0$0$638,790
94$2,157,595$0$0$652,172
95$2,204,496$0$0$665,288
96$2,250,726$0$0$678,059
97$2,296,045$0$0$690,398
98$2,340,182$0$0$702,205
99$2,382,834$0$0$713,370
100$2,423,662$0$0$723,770