Can I retire at age 55 with 693,000?

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 $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%13.1%
1 years$57,227$56,718$56,220$55,735$55,261$54,548
2 years$28,330$27,803$27,291$26,796$26,315$25,597
3 years$18,699$18,169$17,659$17,168$16,695$15,996
4 years$13,885$13,356$12,851$12,369$11,907$11,231
5 years$10,997$10,472$9,973$9,500$9,052$8,401
6 years$9,072$8,551$8,060$7,598$7,162$6,538
7 years$7,698$7,181$6,698$6,246$5,825$5,226
8 years$6,668$6,155$5,680$5,240$4,832$4,260
9 years$5,867$5,359$4,892$4,463$4,069$3,523
10 years$5,226$4,724$4,265$3,847$3,467$2,947
11 years$4,703$4,206$3,755$3,348$2,982$2,487
12 years$4,267$3,775$3,333$2,937$2,584$2,114
13 years$3,898$3,411$2,977$2,593$2,253$1,807
14 years$3,583$3,101$2,675$2,302$1,975$1,552
15 years$3,309$2,833$2,415$2,053$1,739$1,339
16 years$3,070$2,599$2,190$1,838$1,537$1,159
17 years$2,860$2,393$1,993$1,651$1,363$1,005
18 years$2,673$2,212$1,819$1,488$1,212$875
19 years$2,506$2,050$1,665$1,345$1,080$763
20 years$2,355$1,905$1,528$1,218$965$666
21 years$2,220$1,774$1,406$1,105$863$583
22 years$2,096$1,656$1,296$1,005$774$510
23 years$1,984$1,549$1,196$915$695$447
24 years$1,881$1,451$1,106$835$624$393
25 years$1,787$1,362$1,025$762$562$345
26 years$1,700$1,280$950$697$506$303
27 years$1,619$1,205$882$638$456$267
28 years$1,545$1,135$820$585$412$235
29 years$1,475$1,071$763$536$372$207
30 years$1,411$1,011$711$492$336$182
31 years$1,350$956$663$452$304$161
32 years$1,294$905$619$415$275$142
33 years$1,241$857$578$382$249$125
34 years$1,191$812$540$351$225$110
35 years$1,145$770$505$323$204$97
36 years$1,101$731$472$298$185$86
37 years$1,059$694$442$274$167$76
38 years$1,020$660$414$253$152$67
39 years$983$627$388$233$138$59
40 years$947$597$363$215$125$52
41 years$914$568$341$198$113$46
42 years$882$541$320$183$103$41
43 years$852$516$300$169$93$36
44 years$823$491$281$156$85$32
45 years$796$469$264$144$77$28
46 years$770$447$248$133$70$25
47 years$745$427$233$123$63$22
48 years$721$407$219$114$58$19
49 years$698$389$206$105$52$17
50 years$677$372$194$97$47$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $693,000, adding $6,456 every year, while hoping to spend $50,412 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: 46/40/14 Blend
54$693,000$693,000$693,000$693,000
55$770,345$733,616$722,875$802,447
56$795,283$715,926$693,453$807,702
57$821,074$695,678$661,356$807,757
58$847,753$672,696$626,441$806,710
59$875,356$646,790$588,559$804,479
60$903,920$617,760$547,553$800,977
61$933,484$585,396$503,261$796,111
62$964,091$549,472$455,512$789,784
63$995,785$509,752$404,128$781,895
64$1,028,613$465,988$348,924$772,334
65$1,062,623$417,913$289,705$760,988
66$1,097,869$365,249$226,268$747,737
67$1,134,406$307,701$158,403$732,456
68$1,172,293$244,956$85,887$715,011
69$1,211,594$176,685$8,491$695,263
70$1,252,374$102,541$0$673,065
71$1,294,706$22,155$0$659,332
72$1,338,665$0$0$644,907
73$1,384,333$0$0$656,937
74$1,431,796$0$0$679,585
75$1,481,148$0$0$703,147
76$1,532,488$0$0$727,670
77$1,585,923$0$0$753,208
78$1,641,567$0$0$779,818
79$1,699,545$0$0$807,560
80$1,759,988$0$0$836,499
81$1,823,040$0$0$866,708
82$1,888,854$0$0$898,261
83$1,957,597$0$0$931,242
84$2,029,448$0$0$965,741
85$2,104,602$0$0$1,001,852
86$2,183,268$0$0$1,039,682
87$2,265,674$0$0$1,079,343
88$2,352,066$0$0$1,120,958
89$2,442,712$0$0$1,164,660
90$2,537,902$0$0$1,210,596
91$2,637,952$0$0$1,258,921
92$2,743,204$0$0$1,309,809
93$2,854,031$0$0$1,363,445
94$2,970,840$0$0$1,420,033
95$3,094,073$0$0$1,479,795
96$3,224,212$0$0$1,542,973
97$3,361,783$0$0$1,609,830
98$3,507,361$0$0$1,680,655
99$3,661,572$0$0$1,755,763
100$3,825,101$0$0$1,835,498