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%12.9%
1 years$54,172$53,689$53,219$52,759$52,310$51,678
2 years$26,818$26,318$25,834$25,365$24,910$24,273
3 years$17,701$17,199$16,716$16,252$15,804$15,183
4 years$13,143$12,643$12,165$11,708$11,271$10,671
5 years$10,410$9,913$9,441$8,993$8,568$7,991
6 years$8,588$8,094$7,630$7,192$6,780$6,225
7 years$7,287$6,798$6,340$5,913$5,514$4,982
8 years$6,312$5,827$5,377$4,960$4,574$4,066
9 years$5,553$5,073$4,631$4,225$3,852$3,367
10 years$4,947$4,472$4,038$3,642$3,282$2,819
11 years$4,452$3,981$3,555$3,170$2,823$2,382
12 years$4,039$3,573$3,155$2,780$2,446$2,027
13 years$3,690$3,229$2,818$2,454$2,133$1,735
14 years$3,391$2,935$2,532$2,179$1,870$1,493
15 years$3,133$2,681$2,286$1,943$1,646$1,289
16 years$2,906$2,460$2,073$1,740$1,455$1,117
17 years$2,707$2,266$1,886$1,563$1,290$971
18 years$2,530$2,094$1,722$1,409$1,147$846
19 years$2,372$1,940$1,576$1,273$1,023$738
20 years$2,230$1,803$1,447$1,153$913$646
21 years$2,101$1,679$1,331$1,046$817$566
22 years$1,984$1,568$1,226$951$733$496
23 years$1,878$1,466$1,132$866$658$436
24 years$1,781$1,374$1,047$790$591$383
25 years$1,691$1,289$970$722$532$337
26 years$1,609$1,212$900$660$479$297
27 years$1,533$1,140$835$604$432$262
28 years$1,462$1,074$777$553$390$231
29 years$1,396$1,014$723$507$352$204
30 years$1,335$957$673$466$318$180
31 years$1,278$905$628$428$288$159
32 years$1,225$856$586$393$260$140
33 years$1,175$811$547$361$235$124
34 years$1,128$769$511$333$213$109
35 years$1,084$729$478$306$193$97
36 years$1,042$692$447$282$175$86
37 years$1,003$657$418$260$158$76
38 years$965$625$392$239$144$67
39 years$930$594$367$221$130$59
40 years$897$565$344$204$118$52
41 years$865$538$322$188$107$46
42 years$835$512$302$173$97$41
43 years$807$488$284$160$88$36
44 years$779$465$266$148$80$32
45 years$754$444$250$137$73$28
46 years$729$423$235$126$66$25
47 years$705$404$221$116$60$22
48 years$683$386$207$108$54$20
49 years$661$368$195$99$49$17
50 years$640$352$183$92$45$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $656,000, adding $4,064 every year, while hoping to spend $43,915 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: 58/21/21 Blend
54$656,000$656,000$656,000$656,000
55$727,104$692,336$682,168$764,984
56$754,543$679,535$658,295$778,416
57$783,310$664,635$632,151$787,958
58$813,492$647,487$603,613$797,394
59$845,187$627,933$572,553$806,723
60$878,499$605,805$538,837$815,947
61$913,543$580,926$502,325$825,068
62$950,443$553,110$462,871$834,094
63$989,334$522,158$420,323$843,034
64$1,030,363$487,861$374,520$851,902
65$1,073,690$449,996$325,297$860,715
66$1,119,491$408,331$272,479$869,496
67$1,167,957$362,617$215,885$878,274
68$1,219,296$312,592$155,325$887,082
69$1,273,736$257,981$90,600$895,964
70$1,331,527$198,492$21,504$904,968
71$1,392,939$133,815$0$914,155
72$1,458,273$63,625$0$935,299
73$1,527,852$0$0$962,679
74$1,602,036$0$0$994,492
75$1,681,213$0$0$1,044,171
76$1,765,814$0$0$1,097,287
77$1,856,307$0$0$1,154,138
78$1,953,207$0$0$1,215,054
79$2,057,079$0$0$1,280,395
80$2,168,542$0$0$1,350,554
81$2,288,276$0$0$1,425,965
82$2,417,028$0$0$1,507,104
83$2,555,615$0$0$1,594,494
84$2,704,938$0$0$1,688,709
85$2,865,984$0$0$1,790,377
86$3,039,839$0$0$1,900,193
87$3,227,695$0$0$2,018,916
88$3,430,863$0$0$2,147,384
89$3,650,783$0$0$2,286,516
90$3,889,040$0$0$2,437,321
91$4,147,373$0$0$2,600,913
92$4,427,699$0$0$2,778,514
93$4,732,122$0$0$2,971,467
94$5,062,960$0$0$3,181,252
95$5,422,761$0$0$3,409,496
96$5,814,327$0$0$3,657,990
97$6,240,745$0$0$3,928,702
98$6,705,407$0$0$4,223,802
99$7,212,051$0$0$4,545,675
100$7,764,787$0$0$4,896,946