Can I retire at age 55 with 693,000?

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 $693,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$57,227$56,718$56,220$55,735$55,261$54,035
2 years$28,330$27,803$27,291$26,796$26,315$25,086
3 years$18,699$18,169$17,659$17,168$16,695$15,502
4 years$13,885$13,356$12,851$12,369$11,907$10,758
5 years$10,997$10,472$9,973$9,500$9,052$7,951
6 years$9,072$8,551$8,060$7,598$7,162$6,111
7 years$7,698$7,181$6,698$6,246$5,825$4,823
8 years$6,668$6,155$5,680$5,240$4,832$3,879
9 years$5,867$5,359$4,892$4,463$4,069$3,165
10 years$5,226$4,724$4,265$3,847$3,467$2,610
11 years$4,703$4,206$3,755$3,348$2,982$2,171
12 years$4,267$3,775$3,333$2,937$2,584$1,818
13 years$3,898$3,411$2,977$2,593$2,253$1,531
14 years$3,583$3,101$2,675$2,302$1,975$1,295
15 years$3,309$2,833$2,415$2,053$1,739$1,099
16 years$3,070$2,599$2,190$1,838$1,537$936
17 years$2,860$2,393$1,993$1,651$1,363$799
18 years$2,673$2,212$1,819$1,488$1,212$684
19 years$2,506$2,050$1,665$1,345$1,080$586
20 years$2,355$1,905$1,528$1,218$965$503
21 years$2,220$1,774$1,406$1,105$863$432
22 years$2,096$1,656$1,296$1,005$774$372
23 years$1,984$1,549$1,196$915$695$321
24 years$1,881$1,451$1,106$835$624$276
25 years$1,787$1,362$1,025$762$562$238
26 years$1,700$1,280$950$697$506$206
27 years$1,619$1,205$882$638$456$178
28 years$1,545$1,135$820$585$412$154
29 years$1,475$1,071$763$536$372$133
30 years$1,411$1,011$711$492$336$115
31 years$1,350$956$663$452$304$99
32 years$1,294$905$619$415$275$86
33 years$1,241$857$578$382$249$74
34 years$1,191$812$540$351$225$64
35 years$1,145$770$505$323$204$56
36 years$1,101$731$472$298$185$48
37 years$1,059$694$442$274$167$42
38 years$1,020$660$414$253$152$36
39 years$983$627$388$233$138$31
40 years$947$597$363$215$125$27
41 years$914$568$341$198$113$23
42 years$882$541$320$183$103$20
43 years$852$516$300$169$93$18
44 years$823$491$281$156$85$15
45 years$796$469$264$144$77$13
46 years$770$447$248$133$70$11
47 years$745$427$233$123$63$10
48 years$721$407$219$114$58$9
49 years$698$389$206$105$52$7
50 years$677$372$194$97$47$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $693,000, adding $6,534 every year, while hoping to spend $39,614 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: 32/40/28 Blend
54$693,000$693,000$693,000$693,000
55$770,426$733,697$722,955$788,336
56$806,860$727,499$705,025$796,407
57$845,683$719,670$685,167$801,148
58$887,097$710,087$663,274$805,480
59$931,322$698,623$639,235$809,396
60$978,601$685,139$612,933$812,889
61$1,029,199$669,492$584,247$815,958
62$1,083,408$651,528$553,050$818,604
63$1,141,547$631,084$519,209$820,833
64$1,203,966$607,989$482,584$822,657
65$1,271,051$582,060$443,030$824,093
66$1,343,223$553,106$400,397$825,166
67$1,420,946$520,923$354,525$825,907
68$1,504,729$485,295$305,248$826,359
69$1,595,133$445,995$252,395$826,572
70$1,692,770$402,782$195,784$826,611
71$1,798,316$355,403$135,226$826,553
72$1,912,514$303,588$70,526$826,489
73$2,036,180$247,053$1,478$826,530
74$2,170,210$185,498$0$826,803
75$2,315,591$118,607$0$849,032
76$2,473,407$46,044$0$873,692
77$2,644,852$0$0$900,613
78$2,831,238$0$0$944,425
79$3,034,008$0$0$1,014,229
80$3,254,751$0$0$1,090,318
81$3,495,215$0$0$1,173,306
82$3,757,324$0$0$1,263,870
83$4,043,194$0$0$1,362,754
84$4,355,156$0$0$1,470,778
85$4,695,773$0$0$1,588,845
86$5,067,870$0$0$1,717,949
87$5,474,554$0$0$1,859,183
88$5,919,248$0$0$2,013,751
89$6,405,718$0$0$2,182,982
90$6,938,113$0$0$2,368,334
91$7,521,002$0$0$2,571,416
92$8,159,414$0$0$2,794,001
93$8,858,890$0$0$3,038,039
94$9,625,529$0$0$3,305,679
95$10,466,051$0$0$3,599,288
96$11,387,855$0$0$3,921,472
97$12,399,094$0$0$4,275,103
98$13,508,743$0$0$4,663,345
99$14,726,692$0$0$5,089,680
100$16,063,834$0$0$5,557,948