Can I retire at age 55 with 692,000?

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 $692,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$57,145$56,636$56,139$55,654$55,181$54,810
2 years$28,289$27,763$27,252$26,757$26,277$25,903
3 years$18,672$18,143$17,634$17,143$16,671$16,306
4 years$13,865$13,337$12,833$12,351$11,890$11,536
5 years$10,981$10,456$9,959$9,487$9,039$8,697
6 years$9,059$8,539$8,048$7,587$7,152$6,823
7 years$7,687$7,171$6,688$6,237$5,816$5,500
8 years$6,658$6,147$5,672$5,232$4,825$4,522
9 years$5,858$5,352$4,885$4,457$4,064$3,773
10 years$5,219$4,717$4,259$3,842$3,462$3,184
11 years$4,696$4,199$3,750$3,344$2,978$2,712
12 years$4,261$3,769$3,328$2,933$2,580$2,327
13 years$3,893$3,406$2,973$2,589$2,250$2,009
14 years$3,577$3,096$2,671$2,298$1,973$1,743
15 years$3,304$2,828$2,412$2,050$1,737$1,518
16 years$3,066$2,595$2,187$1,835$1,535$1,328
17 years$2,856$2,390$1,990$1,649$1,361$1,164
18 years$2,669$2,208$1,816$1,486$1,210$1,024
19 years$2,502$2,047$1,663$1,343$1,079$902
20 years$2,352$1,902$1,526$1,216$963$797
21 years$2,216$1,772$1,404$1,104$862$705
22 years$2,093$1,654$1,294$1,004$773$624
23 years$1,981$1,547$1,195$914$694$554
24 years$1,878$1,449$1,105$834$624$492
25 years$1,784$1,360$1,023$761$561$437
26 years$1,697$1,278$949$696$505$389
27 years$1,617$1,203$881$637$456$346
28 years$1,542$1,133$819$584$411$309
29 years$1,473$1,069$762$535$371$275
30 years$1,409$1,010$710$491$335$245
31 years$1,348$955$662$451$303$219
32 years$1,292$903$618$415$274$196
33 years$1,239$855$577$381$248$175
34 years$1,190$811$539$351$225$156
35 years$1,143$769$504$323$204$139
36 years$1,099$730$471$297$184$125
37 years$1,058$693$441$274$167$112
38 years$1,018$659$413$253$152$100
39 years$981$626$387$233$137$89
40 years$946$596$363$215$125$80
41 years$913$567$340$198$113$71
42 years$881$540$319$183$103$64
43 years$851$515$299$169$93$57
44 years$822$491$281$156$85$51
45 years$795$468$264$144$77$46
46 years$769$446$248$133$70$41
47 years$744$426$233$123$63$37
48 years$720$407$219$114$57$33
49 years$697$388$206$105$52$29
50 years$676$371$193$97$47$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $692,000, adding $2,577 every year, while hoping to spend $31,614 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: 59/34/7 Blend
54$692,000$692,000$692,000$692,000
55$765,242$728,566$717,840$809,117
56$809,660$730,629$708,251$840,913
57$857,549$731,733$697,281$871,733
58$909,229$731,798$684,850$904,545
59$965,053$730,740$670,875$939,542
60$1,025,409$728,466$655,270$976,936
61$1,090,721$724,882$637,942$1,016,964
62$1,161,458$719,884$618,797$1,059,886
63$1,238,134$713,366$597,733$1,105,991
64$1,321,314$705,211$574,648$1,155,599
65$1,411,621$695,299$549,431$1,209,063
66$1,509,738$683,501$521,969$1,266,773
67$1,616,419$669,679$492,142$1,329,162
68$1,732,490$653,690$459,826$1,396,706
69$1,858,864$635,381$424,890$1,469,936
70$1,996,542$614,588$387,197$1,549,434
71$2,146,627$591,141$346,606$1,635,847
72$2,310,334$564,858$302,968$1,729,888
73$2,488,998$535,546$256,128$1,832,347
74$2,684,091$503,003$205,924$1,944,096
75$2,897,232$467,014$152,186$2,066,099
76$3,130,204$427,351$94,738$2,199,421
77$3,384,968$383,775$33,395$2,345,240
78$3,663,686$336,031$0$2,504,856
79$3,968,736$283,851$0$2,682,101
80$4,302,740$226,952$0$2,878,985
81$4,668,581$165,035$0$3,094,779
82$5,069,438$97,783$0$3,331,438
83$5,508,809$24,863$0$3,591,116
84$5,990,548$0$0$3,876,195
85$6,518,899$0$0$4,209,533
86$7,098,537$0$0$4,585,491
87$7,734,612$0$0$4,998,114
88$8,432,795$0$0$5,451,089
89$9,199,334$0$0$5,948,478
90$10,041,112$0$0$6,494,754
91$10,965,710$0$0$7,094,844
92$11,981,479$0$0$7,754,180
93$13,097,621$0$0$8,478,741
94$14,324,271$0$0$9,275,116
95$15,672,596$0$0$10,150,566
96$17,154,899$0$0$11,113,087
97$18,784,733$0$0$12,171,491
98$20,577,031$0$0$13,335,486
99$22,548,246$0$0$14,615,767
100$24,716,504$0$0$16,024,118