Can I retire at age 55 with 697,000?

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 $697,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$57,558$57,045$56,545$56,056$55,580$53,608
2 years$28,494$27,963$27,449$26,950$26,467$24,501
3 years$18,807$18,274$17,761$17,267$16,791$14,894
4 years$13,965$13,434$12,926$12,440$11,976$10,161
5 years$11,060$10,532$10,031$9,555$9,104$7,376
6 years$9,124$8,600$8,106$7,641$7,204$5,564
7 years$7,742$7,222$6,736$6,282$5,858$4,307
8 years$6,706$6,191$5,713$5,270$4,860$3,396
9 years$5,901$5,390$4,921$4,489$4,093$2,714
10 years$5,257$4,751$4,290$3,870$3,487$2,191
11 years$4,730$4,230$3,777$3,368$2,999$1,783
12 years$4,291$3,796$3,352$2,954$2,599$1,460
13 years$3,921$3,431$2,995$2,608$2,266$1,201
14 years$3,603$3,119$2,691$2,315$1,987$993
15 years$3,328$2,849$2,429$2,065$1,749$823
16 years$3,088$2,614$2,203$1,849$1,546$684
17 years$2,876$2,407$2,004$1,661$1,371$569
18 years$2,688$2,224$1,830$1,497$1,219$475
19 years$2,520$2,062$1,675$1,353$1,086$397
20 years$2,369$1,916$1,537$1,225$970$332
21 years$2,232$1,784$1,414$1,112$868$278
22 years$2,108$1,666$1,303$1,011$778$233
23 years$1,995$1,558$1,203$921$699$195
24 years$1,892$1,460$1,113$840$628$164
25 years$1,797$1,370$1,031$767$565$138
26 years$1,709$1,287$956$701$509$116
27 years$1,628$1,212$888$642$459$97
28 years$1,553$1,142$825$588$414$82
29 years$1,484$1,077$768$539$374$69
30 years$1,419$1,017$715$495$338$58
31 years$1,358$962$667$454$305$49
32 years$1,301$910$622$418$276$41
33 years$1,248$862$581$384$250$34
34 years$1,198$817$543$353$226$29
35 years$1,151$775$507$325$205$24
36 years$1,107$735$475$300$186$20
37 years$1,065$698$444$276$168$17
38 years$1,026$664$416$254$153$14
39 years$988$631$390$235$138$12
40 years$953$600$365$216$126$10
41 years$919$571$343$200$114$9
42 years$887$544$321$184$103$7
43 years$857$519$302$170$94$6
44 years$828$494$283$157$85$5
45 years$801$471$266$145$77$4
46 years$774$450$250$134$70$4
47 years$749$429$235$124$64$3
48 years$725$410$220$114$58$3
49 years$702$391$207$106$53$2
50 years$681$374$195$98$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $697,000, adding $3,336 every year, while hoping to spend $23,766 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: 65/18/17 Blend
54$697,000$697,000$697,000$697,000
55$771,535$734,594$723,791$818,245
56$824,945$745,302$722,751$860,663
57$883,006$755,739$720,880$903,959
58$946,167$765,865$718,124$950,695
59$1,014,924$775,640$714,429$1,001,211
60$1,089,820$785,020$709,735$1,055,876
61$1,171,453$793,957$703,983$1,115,099
62$1,260,482$802,402$697,108$1,179,333
63$1,357,633$810,302$689,043$1,249,074
64$1,463,704$817,599$679,718$1,324,872
65$1,579,574$824,233$669,060$1,407,332
66$1,706,208$830,139$656,992$1,497,121
67$1,844,674$835,248$643,433$1,594,974
68$1,996,143$839,487$628,300$1,701,703
69$2,161,905$842,778$611,505$1,818,203
70$2,343,384$845,038$592,954$1,945,460
71$2,542,144$846,179$572,553$2,084,562
72$2,759,908$846,108$550,199$2,236,708
73$2,998,577$844,726$525,789$2,403,222
74$3,260,240$841,925$499,211$2,585,562
75$3,547,201$837,596$470,351$2,785,337
76$3,861,995$831,619$439,088$3,004,319
77$4,207,418$823,867$405,297$3,244,465
78$4,586,546$814,208$368,846$3,507,929
79$5,002,770$802,500$329,598$3,797,091
80$5,459,822$788,592$287,409$4,114,571
81$5,961,817$772,327$242,131$4,463,259
82$6,513,287$753,535$193,606$4,846,342
83$7,119,222$732,037$141,671$5,267,334
84$7,785,122$707,647$86,157$5,730,108
85$8,517,045$680,163$26,884$6,238,935
86$9,321,667$649,374$0$6,798,523
87$10,206,341$615,057$0$7,420,662
88$11,179,168$576,975$0$8,110,109
89$12,249,074$534,878$0$8,868,331
90$13,425,894$488,502$0$9,702,320
91$14,720,464$437,567$0$10,619,786
92$16,144,721$381,777$0$11,629,223
93$17,711,820$320,821$0$12,739,996
94$19,436,253$254,369$0$13,962,422
95$21,333,990$182,073$0$15,307,874
96$23,422,627$103,563$0$16,788,887
97$25,721,550$18,453$0$18,419,274
98$28,252,122$0$0$20,214,259
99$31,037,883$0$0$22,205,213
100$34,104,768$0$0$24,401,165