Can I retire at age 55 with 688,000?

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 $688,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$56,814$56,308$55,815$55,333$54,862$54,425
2 years$28,126$27,602$27,094$26,602$26,125$25,684
3 years$18,564$18,038$17,532$17,044$16,575$16,144
4 years$13,785$13,260$12,759$12,279$11,821$11,404
5 years$10,917$10,396$9,901$9,432$8,986$8,584
6 years$9,007$8,489$8,002$7,543$7,111$6,724
7 years$7,642$7,129$6,649$6,201$5,783$5,411
8 years$6,619$6,111$5,639$5,202$4,797$4,441
9 years$5,824$5,321$4,857$4,431$4,040$3,699
10 years$5,189$4,690$4,235$3,820$3,442$3,116
11 years$4,669$4,175$3,728$3,324$2,961$2,649
12 years$4,236$3,747$3,309$2,916$2,566$2,269
13 years$3,870$3,387$2,956$2,574$2,237$1,955
14 years$3,557$3,078$2,656$2,285$1,961$1,693
15 years$3,285$2,812$2,398$2,038$1,727$1,472
16 years$3,048$2,580$2,174$1,825$1,526$1,284
17 years$2,839$2,376$1,978$1,639$1,353$1,124
18 years$2,653$2,196$1,806$1,477$1,203$986
19 years$2,487$2,035$1,653$1,335$1,072$867
20 years$2,338$1,891$1,517$1,209$958$764
21 years$2,204$1,761$1,396$1,097$857$674
22 years$2,081$1,644$1,286$998$768$596
23 years$1,970$1,538$1,188$909$690$528
24 years$1,868$1,441$1,098$829$620$467
25 years$1,774$1,352$1,017$757$558$415
26 years$1,687$1,271$944$692$502$368
27 years$1,607$1,196$876$633$453$327
28 years$1,533$1,127$814$580$409$291
29 years$1,465$1,063$758$532$369$258
30 years$1,400$1,004$706$488$334$230
31 years$1,341$949$658$449$302$205
32 years$1,285$898$614$412$273$182
33 years$1,232$850$573$379$247$162
34 years$1,183$806$536$349$223$145
35 years$1,136$765$501$321$202$129
36 years$1,093$726$469$296$183$115
37 years$1,051$689$439$272$166$103
38 years$1,012$655$411$251$151$92
39 years$976$623$385$232$137$82
40 years$941$593$361$214$124$73
41 years$907$564$338$197$112$65
42 years$876$537$317$182$102$58
43 years$846$512$298$168$93$52
44 years$817$488$279$155$84$46
45 years$790$465$262$143$76$41
46 years$764$444$246$132$69$37
47 years$740$424$232$122$63$33
48 years$716$404$218$113$57$29
49 years$693$386$204$104$52$26
50 years$672$369$192$96$47$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $688,000, adding $2,933 every year, while hoping to spend $35,330 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: 61/21/18 Blend
54$688,000$688,000$688,000$688,000
55$761,201$724,737$714,073$803,949
56$801,253$722,659$700,404$831,061
57$844,206$719,294$685,093$856,439
58$890,319$714,543$668,047$883,315
59$939,875$708,299$649,170$911,839
60$993,186$700,450$628,361$942,178
61$1,050,595$690,876$605,515$974,516
62$1,112,476$679,450$580,521$1,009,055
63$1,179,244$666,037$553,263$1,046,024
64$1,251,350$650,497$523,621$1,085,673
65$1,329,294$632,677$491,468$1,128,281
66$1,413,622$612,419$456,673$1,174,155
67$1,504,937$589,553$419,097$1,223,639
68$1,603,901$563,901$378,597$1,277,110
69$1,711,241$535,275$335,022$1,334,989
70$1,827,758$503,473$288,216$1,397,740
71$1,954,332$468,286$238,013$1,465,878
72$2,091,930$429,489$184,243$1,539,973
73$2,241,619$386,845$126,727$1,620,656
74$2,404,570$340,106$65,278$1,708,625
75$2,582,072$289,008$0$1,804,653
76$2,775,545$233,271$0$1,909,651
77$2,986,550$172,601$0$2,037,891
78$3,216,807$106,687$0$2,177,910
79$3,468,208$35,201$0$2,330,907
80$3,742,834$0$0$2,498,205
81$4,042,981$0$0$2,691,018
82$4,371,170$0$0$2,910,791
83$4,730,183$0$0$3,151,257
84$5,123,080$0$0$3,414,474
85$5,553,230$0$0$3,702,704
86$6,024,345$0$0$4,018,443
87$6,540,512$0$0$4,364,437
88$7,106,230$0$0$4,743,709
89$7,726,457$0$0$5,159,590
90$8,406,652$0$0$5,615,751
91$9,152,828$0$0$6,116,231
92$9,971,608$0$0$6,665,482
93$10,870,287$0$0$7,268,407
94$11,856,901$0$0$7,930,406
95$12,940,301$0$0$8,657,428
96$14,130,239$0$0$9,456,027
97$15,437,457$0$0$10,333,423
98$16,873,788$0$0$11,297,569
99$18,452,269$0$0$12,357,228
100$20,187,261$0$0$13,522,051