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%14.1%
1 years$57,227$56,718$56,220$55,735$55,261$54,323
2 years$28,330$27,803$27,291$26,796$26,315$25,373
3 years$18,699$18,169$17,659$17,168$16,695$15,778
4 years$13,885$13,356$12,851$12,369$11,907$11,023
5 years$10,997$10,472$9,973$9,500$9,052$8,202
6 years$9,072$8,551$8,060$7,598$7,162$6,348
7 years$7,698$7,181$6,698$6,246$5,825$5,047
8 years$6,668$6,155$5,680$5,240$4,832$4,090
9 years$5,867$5,359$4,892$4,463$4,069$3,363
10 years$5,226$4,724$4,265$3,847$3,467$2,796
11 years$4,703$4,206$3,755$3,348$2,982$2,344
12 years$4,267$3,775$3,333$2,937$2,584$1,980
13 years$3,898$3,411$2,977$2,593$2,253$1,681
14 years$3,583$3,101$2,675$2,302$1,975$1,435
15 years$3,309$2,833$2,415$2,053$1,739$1,229
16 years$3,070$2,599$2,190$1,838$1,537$1,056
17 years$2,860$2,393$1,993$1,651$1,363$910
18 years$2,673$2,212$1,819$1,488$1,212$786
19 years$2,506$2,050$1,665$1,345$1,080$680
20 years$2,355$1,905$1,528$1,218$965$590
21 years$2,220$1,774$1,406$1,105$863$512
22 years$2,096$1,656$1,296$1,005$774$445
23 years$1,984$1,549$1,196$915$695$387
24 years$1,881$1,451$1,106$835$624$337
25 years$1,787$1,362$1,025$762$562$294
26 years$1,700$1,280$950$697$506$256
27 years$1,619$1,205$882$638$456$224
28 years$1,545$1,135$820$585$412$196
29 years$1,475$1,071$763$536$372$171
30 years$1,411$1,011$711$492$336$149
31 years$1,350$956$663$452$304$131
32 years$1,294$905$619$415$275$114
33 years$1,241$857$578$382$249$100
34 years$1,191$812$540$351$225$87
35 years$1,145$770$505$323$204$76
36 years$1,101$731$472$298$185$67
37 years$1,059$694$442$274$167$59
38 years$1,020$660$414$253$152$51
39 years$983$627$388$233$138$45
40 years$947$597$363$215$125$39
41 years$914$568$341$198$113$34
42 years$882$541$320$183$103$30
43 years$852$516$300$169$93$26
44 years$823$491$281$156$85$23
45 years$796$469$264$144$77$20
46 years$770$447$248$133$70$18
47 years$745$427$233$123$63$16
48 years$721$407$219$114$58$14
49 years$698$389$206$105$52$12
50 years$677$372$194$97$47$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $693,000, adding $6,109 every year, while hoping to spend $34,579 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: 56/33/11 Blend
54$693,000$693,000$693,000$693,000
55$769,987$733,258$722,517$810,661
56$811,734$732,396$709,929$838,012
57$856,581$730,333$695,761$863,451
58$904,806$726,973$679,923$890,340
59$956,716$722,216$662,321$918,822
60$1,012,650$715,953$642,858$949,058
61$1,072,977$708,071$621,430$981,223
62$1,138,105$698,450$597,932$1,015,517
63$1,208,479$686,962$572,250$1,052,157
64$1,284,591$673,470$544,268$1,091,387
65$1,366,981$657,833$513,863$1,133,476
66$1,456,244$639,896$480,907$1,178,724
67$1,553,030$619,501$445,268$1,227,462
68$1,658,059$596,476$406,804$1,280,060
69$1,772,119$570,642$365,370$1,336,925
70$1,896,079$541,807$320,813$1,398,509
71$2,030,894$509,770$272,975$1,465,315
72$2,177,614$474,318$221,689$1,537,898
73$2,337,396$435,225$166,781$1,616,874
74$2,511,512$392,253$108,070$1,702,926
75$2,701,363$345,150$45,367$1,796,809
76$2,908,490$293,650$0$1,899,359
77$3,134,588$237,472$0$2,014,032
78$3,381,526$176,317$0$2,145,171
79$3,651,358$109,874$0$2,288,605
80$3,946,349$37,809$0$2,445,616
81$4,268,988$0$0$2,617,620
82$4,622,020$0$0$2,820,790
83$5,008,466$0$0$3,058,280
84$5,431,652$0$0$3,318,411
85$5,895,241$0$0$3,603,444
86$6,403,267$0$0$3,915,866
87$6,960,173$0$0$4,258,419
88$7,570,853$0$0$4,634,121
89$8,240,695$0$0$5,046,297
90$8,975,636$0$0$5,498,609
91$9,782,214$0$0$5,995,090
92$10,667,632$0$0$6,540,185
93$11,639,823$0$0$7,138,789
94$12,707,526$0$0$7,796,292
95$13,880,368$0$0$8,518,634
96$15,168,956$0$0$9,312,360
97$16,584,973$0$0$10,184,678
98$18,141,290$0$0$11,143,530
99$19,852,088$0$0$12,197,665
100$21,732,990$0$0$13,356,723