Can I retire at age 55 with 694,000?

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 $694,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$57,310$56,799$56,301$55,815$55,341$53,271
2 years$28,371$27,843$27,331$26,834$26,353$24,291
3 years$18,726$18,196$17,685$17,193$16,719$14,731
4 years$13,905$13,376$12,870$12,387$11,924$10,024
5 years$11,013$10,487$9,988$9,514$9,065$7,258
6 years$9,085$8,563$8,072$7,608$7,173$5,460
7 years$7,709$7,191$6,707$6,255$5,833$4,215
8 years$6,677$6,164$5,688$5,247$4,839$3,313
9 years$5,875$5,367$4,899$4,470$4,075$2,640
10 years$5,234$4,731$4,271$3,853$3,472$2,124
11 years$4,710$4,212$3,761$3,353$2,986$1,723
12 years$4,273$3,780$3,337$2,941$2,588$1,406
13 years$3,904$3,416$2,982$2,597$2,257$1,153
14 years$3,588$3,105$2,679$2,305$1,978$949
15 years$3,314$2,837$2,419$2,056$1,742$784
16 years$3,075$2,603$2,193$1,841$1,539$649
17 years$2,864$2,397$1,996$1,654$1,365$539
18 years$2,676$2,215$1,822$1,490$1,214$448
19 years$2,509$2,053$1,668$1,347$1,082$373
20 years$2,359$1,907$1,531$1,220$966$311
21 years$2,223$1,777$1,408$1,107$865$259
22 years$2,099$1,658$1,297$1,006$775$216
23 years$1,987$1,551$1,198$917$696$181
24 years$1,884$1,453$1,108$836$625$151
25 years$1,789$1,364$1,026$763$563$126
26 years$1,702$1,282$952$698$507$106
27 years$1,621$1,206$884$639$457$88
28 years$1,547$1,137$822$585$412$74
29 years$1,477$1,072$765$537$372$62
30 years$1,413$1,013$712$493$336$52
31 years$1,352$957$664$453$304$43
32 years$1,296$906$619$416$275$36
33 years$1,243$858$578$382$249$30
34 years$1,193$813$540$352$225$26
35 years$1,146$771$505$324$204$21
36 years$1,102$732$473$298$185$18
37 years$1,061$695$442$275$168$15
38 years$1,021$661$414$253$152$13
39 years$984$628$388$234$138$11
40 years$949$598$364$215$125$9
41 years$915$569$341$199$113$7
42 years$884$542$320$183$103$6
43 years$853$516$300$169$93$5
44 years$825$492$282$156$85$4
45 years$797$469$265$144$77$4
46 years$771$448$249$133$70$3
47 years$746$427$234$123$63$3
48 years$722$408$219$114$58$2
49 years$699$389$206$105$52$2
50 years$678$372$194$97$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $694,000, adding $5,039 every year, while hoping to spend $52,596 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: 70/17/13 Blend
54$694,000$694,000$694,000$694,000
55$769,986$733,204$722,447$821,346
56$792,563$713,169$690,687$836,065
57$815,679$690,390$656,100$845,336
58$839,336$664,676$618,537$854,106
59$863,530$635,827$577,839$862,314
60$888,257$603,629$533,844$869,898
61$913,510$567,858$486,379$876,790
62$939,281$528,276$435,265$882,917
63$965,557$484,631$380,316$888,199
64$992,323$436,657$321,336$892,551
65$1,019,560$384,073$258,121$895,881
66$1,047,244$326,582$190,458$898,089
67$1,075,349$263,871$118,124$899,070
68$1,103,841$195,607$40,887$898,706
69$1,132,682$121,440$0$896,874
70$1,161,826$41,001$0$899,201
71$1,191,221$0$0$906,208
72$1,220,808$0$0$920,719
73$1,250,518$0$0$942,975
74$1,280,271$0$0$965,244
75$1,309,978$0$0$987,456
76$1,339,538$0$0$1,009,532
77$1,368,835$0$0$1,031,382
78$1,397,739$0$0$1,052,906
79$1,426,104$0$0$1,073,989
80$1,453,764$0$0$1,094,504
81$1,480,536$0$0$1,114,307
82$1,506,210$0$0$1,133,237
83$1,530,555$0$0$1,151,114
84$1,553,310$0$0$1,167,737
85$1,574,185$0$0$1,182,880
86$1,592,857$0$0$1,196,293
87$1,608,963$0$0$1,207,695
88$1,622,102$0$0$1,216,776
89$1,631,825$0$0$1,223,190
90$1,637,634$0$0$1,226,550
91$1,638,976$0$0$1,226,428
92$1,635,236$0$0$1,222,349
93$1,625,729$0$0$1,213,785
94$1,609,700$0$0$1,200,151
95$1,586,308$0$0$1,180,796
96$1,554,620$0$0$1,155,002
97$1,513,605$0$0$1,121,970
98$1,462,120$0$0$1,080,817
99$1,398,899$0$0$1,030,566
100$1,322,540$0$0$970,133