Can I retire at age 55 with 690,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $690,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$56,980$56,472$55,977$55,494$55,022$53,196
2 years$28,208$27,682$27,173$26,680$26,201$24,380
3 years$18,618$18,091$17,583$17,094$16,623$14,863
4 years$13,825$13,299$12,796$12,315$11,856$10,170
5 years$10,949$10,426$9,930$9,459$9,012$7,406
6 years$9,033$8,514$8,025$7,565$7,131$5,606
7 years$7,664$7,150$6,669$6,219$5,800$4,354
8 years$6,639$6,129$5,656$5,217$4,811$3,445
9 years$5,841$5,336$4,871$4,444$4,052$2,763
10 years$5,204$4,704$4,247$3,831$3,452$2,239
11 years$4,682$4,187$3,739$3,334$2,969$1,829
12 years$4,248$3,758$3,318$2,924$2,573$1,504
13 years$3,881$3,396$2,965$2,582$2,244$1,243
14 years$3,567$3,087$2,664$2,292$1,967$1,031
15 years$3,295$2,820$2,405$2,044$1,732$858
16 years$3,057$2,588$2,180$1,830$1,531$716
17 years$2,847$2,383$1,984$1,644$1,357$599
18 years$2,661$2,202$1,811$1,482$1,207$502
19 years$2,495$2,041$1,658$1,339$1,075$421
20 years$2,345$1,896$1,522$1,213$961$354
21 years$2,210$1,766$1,400$1,101$860$298
22 years$2,087$1,649$1,290$1,001$771$251
23 years$1,975$1,542$1,191$911$692$211
24 years$1,873$1,445$1,102$831$622$178
25 years$1,779$1,356$1,020$759$559$150
26 years$1,692$1,274$946$694$504$127
27 years$1,612$1,199$879$635$454$107
28 years$1,538$1,130$817$582$410$91
29 years$1,469$1,066$760$534$370$76
30 years$1,405$1,007$708$490$334$65
31 years$1,345$952$660$450$302$55
32 years$1,288$901$616$413$274$46
33 years$1,236$853$575$380$248$39
34 years$1,186$808$537$350$224$33
35 years$1,140$767$502$322$203$28
36 years$1,096$728$470$297$184$24
37 years$1,055$691$440$273$167$20
38 years$1,015$657$412$252$151$17
39 years$978$625$386$232$137$14
40 years$943$594$362$214$124$12
41 years$910$566$339$198$113$10
42 years$878$539$318$182$102$9
43 years$848$513$299$168$93$7
44 years$820$489$280$155$84$6
45 years$793$467$263$144$77$5
46 years$767$445$247$133$69$4
47 years$742$425$232$123$63$4
48 years$718$406$218$113$57$3
49 years$695$387$205$105$52$3
50 years$674$370$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 $690,000, adding $4,553 every year, while hoping to spend $51,971 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: 59/24/17 Blend
54$690,000$690,000$690,000$690,000
55$765,076$728,506$717,811$806,597
56$787,817$708,906$686,561$815,616
57$811,136$686,604$652,523$819,317
58$835,037$661,413$615,547$822,158
59$859,522$633,133$575,479$824,062
60$884,593$601,556$532,157$824,950
61$910,249$566,461$485,412$824,735
62$936,488$527,611$435,067$823,327
63$963,306$484,759$380,938$820,628
64$990,695$437,644$322,831$816,533
65$1,018,644$385,988$260,545$810,930
66$1,047,143$329,498$193,869$803,701
67$1,076,172$267,864$122,585$794,719
68$1,105,713$200,761$46,463$783,848
69$1,135,740$127,842$0$770,943
70$1,166,223$48,743$0$762,156
71$1,197,126$0$0$760,418
72$1,228,407$0$0$766,913
73$1,260,018$0$0$786,465
74$1,291,902$0$0$806,163
75$1,323,995$0$0$825,964
76$1,356,221$0$0$845,819
77$1,388,495$0$0$865,670
78$1,420,720$0$0$885,453
79$1,452,786$0$0$905,096
80$1,484,568$0$0$924,517
81$1,515,925$0$0$943,622
82$1,546,698$0$0$962,307
83$1,576,709$0$0$980,455
84$1,605,757$0$0$997,933
85$1,633,617$0$0$1,014,595
86$1,660,037$0$0$1,030,275
87$1,684,735$0$0$1,044,788
88$1,707,396$0$0$1,057,928
89$1,727,670$0$0$1,069,466
90$1,745,164$0$0$1,079,145
91$1,759,443$0$0$1,086,679
92$1,770,021$0$0$1,091,753
93$1,776,358$0$0$1,094,012
94$1,777,854$0$0$1,093,065
95$1,773,842$0$0$1,088,476
96$1,763,582$0$0$1,079,763
97$1,746,253$0$0$1,066,389
98$1,720,944$0$0$1,047,761
99$1,686,646$0$0$1,023,220
100$1,642,240$0$0$992,035