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%18.4%
1 years$56,897$56,390$55,896$55,413$54,942$53,077
2 years$28,167$27,642$27,134$26,641$26,163$24,303
3 years$18,591$18,065$17,557$17,069$16,599$14,802
4 years$13,805$13,279$12,777$12,297$11,838$10,118
5 years$10,933$10,411$9,916$9,446$8,999$7,361
6 years$9,020$8,501$8,013$7,554$7,121$5,565
7 years$7,653$7,140$6,659$6,210$5,791$4,318
8 years$6,629$6,120$5,647$5,210$4,804$3,412
9 years$5,833$5,328$4,864$4,437$4,046$2,734
10 years$5,196$4,697$4,241$3,825$3,447$2,213
11 years$4,676$4,181$3,733$3,329$2,965$1,805
12 years$4,242$3,753$3,313$2,920$2,569$1,482
13 years$3,876$3,392$2,960$2,578$2,240$1,223
14 years$3,562$3,083$2,660$2,288$1,964$1,013
15 years$3,290$2,816$2,401$2,041$1,729$842
16 years$3,053$2,584$2,177$1,827$1,528$702
17 years$2,843$2,380$1,981$1,642$1,355$586
18 years$2,657$2,199$1,809$1,480$1,205$491
19 years$2,491$2,038$1,656$1,337$1,074$411
20 years$2,342$1,894$1,519$1,211$959$345
21 years$2,207$1,764$1,398$1,099$858$290
22 years$2,084$1,647$1,288$999$769$244
23 years$1,973$1,540$1,189$910$691$205
24 years$1,870$1,443$1,100$830$621$173
25 years$1,776$1,354$1,019$758$559$145
26 years$1,690$1,273$945$693$503$122
27 years$1,610$1,198$877$634$454$103
28 years$1,536$1,129$816$581$409$87
29 years$1,467$1,065$759$533$370$73
30 years$1,403$1,005$707$489$334$62
31 years$1,343$950$659$449$302$52
32 years$1,286$899$615$413$273$44
33 years$1,234$852$574$380$247$37
34 years$1,185$807$537$349$224$31
35 years$1,138$766$502$322$203$27
36 years$1,094$727$469$296$184$22
37 years$1,053$690$439$273$166$19
38 years$1,014$656$411$252$151$16
39 years$977$624$385$232$137$13
40 years$942$593$361$214$124$11
41 years$909$565$339$197$113$10
42 years$877$538$318$182$102$8
43 years$847$513$298$168$93$7
44 years$819$489$280$155$84$6
45 years$791$466$263$143$76$5
46 years$765$444$247$132$69$4
47 years$741$424$232$122$63$3
48 years$717$405$218$113$57$3
49 years$694$387$205$104$52$2
50 years$673$369$193$97$47$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $689,000, adding $3,787 every year, while hoping to spend $36,785 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: 75/14/11 Blend
54$689,000$689,000$689,000$689,000
55$763,184$726,667$715,988$818,547
56$801,890$723,135$700,834$852,043
57$843,311$718,197$683,941$883,739
58$887,685$711,745$665,209$917,448
59$935,274$703,665$644,538$953,357
60$986,363$693,836$621,822$991,675
61$1,041,268$682,130$596,949$1,032,628
62$1,100,334$668,411$569,803$1,076,470
63$1,163,939$652,534$540,262$1,123,479
64$1,232,500$634,348$508,200$1,173,963
65$1,306,475$613,690$473,484$1,228,260
66$1,386,364$590,390$435,976$1,286,744
67$1,472,722$564,268$395,529$1,349,831
68$1,566,154$535,131$351,993$1,417,975
69$1,667,327$502,778$305,211$1,491,680
70$1,776,974$466,994$255,016$1,571,503
71$1,895,903$427,554$201,236$1,658,057
72$2,024,999$384,218$143,691$1,752,019
73$2,165,238$336,733$82,194$1,854,138
74$2,317,692$284,834$16,547$1,965,238
75$2,483,542$228,236$0$2,086,231
76$2,664,087$166,642$0$2,224,402
77$2,860,754$99,739$0$2,377,061
78$3,075,117$27,192$0$2,543,515
79$3,308,905$0$0$2,725,141
80$3,564,025$0$0$2,931,372
81$3,842,570$0$0$3,161,140
82$4,146,851$0$0$3,412,163
83$4,479,407$0$0$3,686,542
84$4,843,035$0$0$3,986,586
85$5,240,816$0$0$4,314,842
86$5,676,139$0$0$4,674,111
87$6,152,739$0$0$5,067,478
88$6,674,728$0$0$5,498,343
89$7,246,634$0$0$5,970,446
90$7,873,443$0$0$6,487,908
91$8,560,648$0$0$7,055,269
92$9,314,297$0$0$7,677,527
93$10,141,053$0$0$8,360,188
94$11,048,255$0$0$9,109,316
95$12,043,984$0$0$9,931,591
96$13,137,145$0$0$10,834,372
97$14,337,546$0$0$11,825,763
98$15,655,991$0$0$12,914,695
99$17,104,381$0$0$14,111,003
100$18,695,829$0$0$15,425,523