Can I retire at age 55 with 689,000?

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 $689,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$56,897$56,390$55,896$55,413$54,942$53,811
2 years$28,167$27,642$27,134$26,641$26,163$25,028
3 years$18,591$18,065$17,557$17,069$16,599$15,496
4 years$13,805$13,279$12,777$12,297$11,838$10,776
5 years$10,933$10,411$9,916$9,446$8,999$7,981
6 years$9,020$8,501$8,013$7,554$7,121$6,147
7 years$7,653$7,140$6,659$6,210$5,791$4,862
8 years$6,629$6,120$5,647$5,210$4,804$3,920
9 years$5,833$5,328$4,864$4,437$4,046$3,206
10 years$5,196$4,697$4,241$3,825$3,447$2,650
11 years$4,676$4,181$3,733$3,329$2,965$2,210
12 years$4,242$3,753$3,313$2,920$2,569$1,855
13 years$3,876$3,392$2,960$2,578$2,240$1,566
14 years$3,562$3,083$2,660$2,288$1,964$1,329
15 years$3,290$2,816$2,401$2,041$1,729$1,131
16 years$3,053$2,584$2,177$1,827$1,528$966
17 years$2,843$2,380$1,981$1,642$1,355$827
18 years$2,657$2,199$1,809$1,480$1,205$710
19 years$2,491$2,038$1,656$1,337$1,074$610
20 years$2,342$1,894$1,519$1,211$959$525
21 years$2,207$1,764$1,398$1,099$858$453
22 years$2,084$1,647$1,288$999$769$391
23 years$1,973$1,540$1,189$910$691$338
24 years$1,870$1,443$1,100$830$621$292
25 years$1,776$1,354$1,019$758$559$253
26 years$1,690$1,273$945$693$503$219
27 years$1,610$1,198$877$634$454$190
28 years$1,536$1,129$816$581$409$165
29 years$1,467$1,065$759$533$370$143
30 years$1,403$1,005$707$489$334$124
31 years$1,343$950$659$449$302$107
32 years$1,286$899$615$413$273$93
33 years$1,234$852$574$380$247$81
34 years$1,185$807$537$349$224$70
35 years$1,138$766$502$322$203$61
36 years$1,094$727$469$296$184$53
37 years$1,053$690$439$273$166$46
38 years$1,014$656$411$252$151$40
39 years$977$624$385$232$137$35
40 years$942$593$361$214$124$30
41 years$909$565$339$197$113$26
42 years$877$538$318$182$102$23
43 years$847$513$298$168$93$20
44 years$819$489$280$155$84$17
45 years$791$466$263$143$76$15
46 years$765$444$247$132$69$13
47 years$741$424$232$122$63$11
48 years$717$405$218$113$57$10
49 years$694$387$205$104$52$9
50 years$673$369$193$97$47$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $689,000, adding $4,589 every year, while hoping to spend $31,353 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: 55/36/9 Blend
54$689,000$689,000$689,000$689,000
55$764,012$727,495$716,815$804,110
56$808,581$729,782$707,469$834,042
57$856,647$731,132$696,759$862,768
58$908,530$731,463$684,606$893,293
59$964,588$730,693$670,929$925,792
60$1,025,211$728,731$655,639$960,461
61$1,090,827$725,484$638,648$997,516
62$1,161,910$720,850$619,861$1,037,196
63$1,238,977$714,724$599,178$1,079,766
64$1,322,599$706,992$576,497$1,125,520
65$1,413,404$697,535$551,710$1,174,783
66$1,512,081$686,224$524,702$1,227,915
67$1,619,391$672,927$495,358$1,285,314
68$1,736,169$657,500$463,552$1,347,423
69$1,863,333$639,793$429,156$1,414,728
70$2,001,896$619,645$392,035$1,487,769
71$2,152,969$596,888$352,048$1,567,146
72$2,317,779$571,342$309,049$1,653,519
73$2,497,673$542,819$262,883$1,747,620
74$2,694,137$511,118$213,390$1,850,258
75$2,908,803$476,027$160,403$1,962,328
76$3,143,471$437,322$103,747$2,084,819
77$3,400,121$394,767$43,238$2,218,826
78$3,680,934$348,111$0$2,365,558
79$3,988,310$297,090$0$2,528,401
80$4,324,895$241,424$0$2,711,349
81$4,693,599$180,819$0$2,911,897
82$5,097,630$114,963$0$3,131,873
83$5,540,518$43,526$0$3,373,292
84$6,026,153$0$0$3,638,379
85$6,558,818$0$0$3,942,999
86$7,143,232$0$0$4,296,195
87$7,784,592$0$0$4,683,874
88$8,488,623$0$0$5,109,504
89$9,261,629$0$0$5,576,907
90$10,110,558$0$0$6,090,291
91$11,043,062$0$0$6,654,293
92$12,067,569$0$0$7,274,021
93$13,193,367$0$0$7,955,103
94$14,430,685$0$0$8,703,738
95$15,790,796$0$0$9,526,756
96$17,286,115$0$0$10,431,681
97$18,930,324$0$0$11,426,805
98$20,738,494$0$0$12,521,261
99$22,727,232$0$0$13,725,112
100$24,914,833$0$0$15,049,446