Can I retire at age 55 with 696,000?

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 $696,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$57,475$56,963$56,464$55,976$55,500$53,467
2 years$28,453$27,923$27,410$26,912$26,429$24,403
3 years$18,780$18,248$17,736$17,243$16,767$14,813
4 years$13,945$13,414$12,907$12,422$11,959$10,090
5 years$11,044$10,517$10,016$9,541$9,091$7,313
6 years$9,111$8,588$8,095$7,630$7,193$5,508
7 years$7,731$7,212$6,727$6,273$5,850$4,256
8 years$6,696$6,182$5,705$5,263$4,853$3,350
9 years$5,892$5,383$4,914$4,483$4,087$2,672
10 years$5,249$4,745$4,284$3,864$3,482$2,153
11 years$4,723$4,224$3,771$3,363$2,995$1,749
12 years$4,285$3,791$3,347$2,950$2,595$1,429
13 years$3,915$3,426$2,990$2,604$2,263$1,174
14 years$3,598$3,114$2,687$2,312$1,984$968
15 years$3,324$2,845$2,426$2,062$1,747$800
16 years$3,084$2,610$2,199$1,846$1,544$664
17 years$2,872$2,404$2,001$1,659$1,369$551
18 years$2,684$2,221$1,827$1,495$1,217$459
19 years$2,516$2,059$1,673$1,351$1,085$383
20 years$2,365$1,913$1,535$1,223$969$319
21 years$2,229$1,782$1,412$1,110$867$267
22 years$2,105$1,663$1,301$1,009$777$223
23 years$1,993$1,556$1,201$919$698$187
24 years$1,889$1,458$1,111$838$627$156
25 years$1,794$1,368$1,029$766$564$131
26 years$1,707$1,286$954$700$508$110
27 years$1,626$1,210$886$641$458$92
28 years$1,551$1,140$824$587$414$77
29 years$1,482$1,075$767$538$373$65
30 years$1,417$1,016$714$494$337$54
31 years$1,356$960$666$454$305$45
32 years$1,300$908$621$417$276$38
33 years$1,246$860$580$384$250$32
34 years$1,197$815$542$353$226$27
35 years$1,150$773$507$325$205$23
36 years$1,105$734$474$299$186$19
37 years$1,064$697$444$276$168$16
38 years$1,024$663$415$254$152$13
39 years$987$630$389$234$138$11
40 years$952$599$365$216$125$9
41 years$918$571$342$199$114$8
42 years$886$543$321$184$103$7
43 years$856$518$301$170$94$6
44 years$827$494$283$157$85$5
45 years$799$471$265$145$77$4
46 years$773$449$249$134$70$3
47 years$748$428$234$124$64$3
48 years$724$409$220$114$58$2
49 years$701$391$207$106$52$2
50 years$680$373$194$98$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $696,000, adding $3,479 every year, while hoping to spend $23,660 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: 64/30/6 Blend
54$696,000$696,000$696,000$696,000
55$770,581$733,693$722,905$818,901
56$824,006$744,469$721,948$862,271
57$882,087$754,981$720,166$906,498
58$945,275$765,191$717,507$954,178
59$1,014,065$775,056$713,914$1,005,645
60$1,089,000$784,535$709,331$1,061,265
61$1,170,681$793,580$703,697$1,121,444
62$1,259,768$802,143$696,948$1,186,628
63$1,356,987$810,170$689,018$1,257,306
64$1,463,136$817,605$679,837$1,334,023
65$1,579,096$824,388$669,332$1,417,374
66$1,705,836$830,456$657,427$1,508,018
67$1,844,423$835,739$644,042$1,606,682
68$1,996,029$840,166$629,093$1,714,164
69$2,161,949$843,659$612,492$1,831,349
70$2,343,606$846,136$594,149$1,959,207
71$2,542,568$847,511$573,967$2,098,813
72$2,760,562$847,691$551,847$2,251,347
73$2,999,488$846,576$527,682$2,418,115
74$3,261,441$844,064$501,365$2,600,553
75$3,548,728$840,043$472,780$2,800,246
76$3,863,888$834,395$441,809$3,018,941
77$4,209,720$826,996$408,325$3,258,566
78$4,589,306$817,713$372,198$3,521,244
79$5,006,041$806,407$333,293$3,809,317
80$5,463,665$792,928$291,465$4,125,367
81$5,966,297$777,120$246,568$4,472,241
82$6,518,475$758,815$198,444$4,853,078
83$7,125,200$737,837$146,932$5,271,338
84$7,791,979$713,999$91,863$5,730,837
85$8,524,879$687,104$33,058$6,235,782
86$9,330,586$656,941$0$6,790,809
87$10,216,464$623,290$0$7,402,933
88$11,190,628$585,916$0$8,078,271
89$12,262,017$544,571$0$8,820,932
90$13,440,482$498,993$0$9,637,780
91$14,736,873$448,906$0$10,536,382
92$16,163,148$394,017$0$11,525,078
93$17,732,482$334,016$0$12,613,064
94$19,459,389$268,577$0$13,810,474
95$21,359,864$197,355$0$15,128,478
96$23,451,530$119,984$0$16,579,393
97$25,753,803$36,081$0$18,176,791
98$28,288,080$0$0$19,935,634
99$31,077,937$0$0$21,890,493
100$34,149,349$0$0$24,055,812