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%15.3%
1 years$56,814$56,308$55,815$55,333$54,862$53,667
2 years$28,126$27,602$27,094$26,602$26,125$24,926
3 years$18,564$18,038$17,532$17,044$16,575$15,411
4 years$13,785$13,260$12,759$12,279$11,821$10,701
5 years$10,917$10,396$9,901$9,432$8,986$7,912
6 years$9,007$8,489$8,002$7,543$7,111$6,084
7 years$7,642$7,129$6,649$6,201$5,783$4,805
8 years$6,619$6,111$5,639$5,202$4,797$3,867
9 years$5,824$5,321$4,857$4,431$4,040$3,156
10 years$5,189$4,690$4,235$3,820$3,442$2,605
11 years$4,669$4,175$3,728$3,324$2,961$2,168
12 years$4,236$3,747$3,309$2,916$2,566$1,817
13 years$3,870$3,387$2,956$2,574$2,237$1,531
14 years$3,557$3,078$2,656$2,285$1,961$1,295
15 years$3,285$2,812$2,398$2,038$1,727$1,100
16 years$3,048$2,580$2,174$1,825$1,526$938
17 years$2,839$2,376$1,978$1,639$1,353$801
18 years$2,653$2,196$1,806$1,477$1,203$686
19 years$2,487$2,035$1,653$1,335$1,072$588
20 years$2,338$1,891$1,517$1,209$958$506
21 years$2,204$1,761$1,396$1,097$857$435
22 years$2,081$1,644$1,286$998$768$375
23 years$1,970$1,538$1,188$909$690$323
24 years$1,868$1,441$1,098$829$620$279
25 years$1,774$1,352$1,017$757$558$241
26 years$1,687$1,271$944$692$502$208
27 years$1,607$1,196$876$633$453$180
28 years$1,533$1,127$814$580$409$155
29 years$1,465$1,063$758$532$369$134
30 years$1,400$1,004$706$488$334$116
31 years$1,341$949$658$449$302$101
32 years$1,285$898$614$412$273$87
33 years$1,232$850$573$379$247$76
34 years$1,183$806$536$349$223$65
35 years$1,136$765$501$321$202$57
36 years$1,093$726$469$296$183$49
37 years$1,051$689$439$272$166$43
38 years$1,012$655$411$251$151$37
39 years$976$623$385$232$137$32
40 years$941$593$361$214$124$28
41 years$907$564$338$197$112$24
42 years$876$537$317$182$102$21
43 years$846$512$298$168$93$18
44 years$817$488$279$155$84$16
45 years$790$465$262$143$76$14
46 years$764$444$246$132$69$12
47 years$740$424$232$122$63$10
48 years$716$404$218$113$57$9
49 years$693$386$204$104$52$8
50 years$672$369$192$96$47$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $688,000, adding $4,404 every year, while hoping to spend $37,756 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: 54/19/27 Blend
54$688,000$688,000$688,000$688,000
55$762,719$726,255$715,591$797,977
56$800,344$721,669$699,391$818,216
57$840,542$715,593$681,383$835,994
58$883,534$707,915$661,467$854,586
59$929,565$698,513$639,536$874,084
60$978,903$687,262$615,483$894,591
61$1,031,840$674,028$589,191$916,224
62$1,088,700$658,667$560,541$939,112
63$1,149,835$641,029$529,406$963,401
64$1,215,633$620,955$495,657$989,253
65$1,286,521$598,275$459,155$1,016,850
66$1,362,967$572,811$419,757$1,046,395
67$1,445,485$544,374$377,314$1,078,115
68$1,534,640$512,764$331,669$1,112,263
69$1,631,052$477,768$282,660$1,149,120
70$1,735,405$439,164$230,114$1,189,001
71$1,848,448$396,715$173,855$1,232,255
72$1,971,007$350,171$113,696$1,279,271
73$2,103,988$299,268$49,443$1,330,483
74$2,248,389$243,727$0$1,386,373
75$2,405,308$183,253$0$1,452,985
76$2,575,952$117,534$0$1,540,964
77$2,761,648$46,242$0$1,636,775
78$2,963,858$0$0$1,741,218
79$3,184,190$0$0$1,861,651
80$3,424,413$0$0$2,003,558
81$3,686,475$0$0$2,158,427
82$3,972,520$0$0$2,327,534
83$4,284,907$0$0$2,512,282
84$4,626,234$0$0$2,714,215
85$4,999,361$0$0$2,935,035
86$5,407,437$0$0$3,176,613
87$5,853,927$0$0$3,441,011
88$6,342,650$0$0$3,730,500
89$6,877,809$0$0$4,047,580
90$7,464,033$0$0$4,395,004
91$8,106,419$0$0$4,775,804
92$8,810,581$0$0$5,193,320
93$9,582,703$0$0$5,651,230
94$10,429,596$0$0$6,153,584
95$11,358,759$0$0$6,704,845
96$12,378,455$0$0$7,309,929
97$13,497,785$0$0$7,974,248
98$14,726,773$0$0$8,703,767
99$16,076,463$0$0$9,505,055
100$17,559,020$0$0$10,385,351