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%15.4%
1 years$57,558$57,045$56,545$56,056$55,580$54,347
2 years$28,494$27,963$27,449$26,950$26,467$25,231
3 years$18,807$18,274$17,761$17,267$16,791$15,591
4 years$13,965$13,434$12,926$12,440$11,976$10,821
5 years$11,060$10,532$10,031$9,555$9,104$7,997
6 years$9,124$8,600$8,106$7,641$7,204$6,146
7 years$7,742$7,222$6,736$6,282$5,858$4,850
8 years$6,706$6,191$5,713$5,270$4,860$3,901
9 years$5,901$5,390$4,921$4,489$4,093$3,183
10 years$5,257$4,751$4,290$3,870$3,487$2,625
11 years$4,730$4,230$3,777$3,368$2,999$2,183
12 years$4,291$3,796$3,352$2,954$2,599$1,828
13 years$3,921$3,431$2,995$2,608$2,266$1,539
14 years$3,603$3,119$2,691$2,315$1,987$1,302
15 years$3,328$2,849$2,429$2,065$1,749$1,105
16 years$3,088$2,614$2,203$1,849$1,546$941
17 years$2,876$2,407$2,004$1,661$1,371$804
18 years$2,688$2,224$1,830$1,497$1,219$688
19 years$2,520$2,062$1,675$1,353$1,086$589
20 years$2,369$1,916$1,537$1,225$970$506
21 years$2,232$1,784$1,414$1,112$868$435
22 years$2,108$1,666$1,303$1,011$778$374
23 years$1,995$1,558$1,203$921$699$322
24 years$1,892$1,460$1,113$840$628$278
25 years$1,797$1,370$1,031$767$565$240
26 years$1,709$1,287$956$701$509$207
27 years$1,628$1,212$888$642$459$179
28 years$1,553$1,142$825$588$414$154
29 years$1,484$1,077$768$539$374$134
30 years$1,419$1,017$715$495$338$115
31 years$1,358$962$667$454$305$100
32 years$1,301$910$622$418$276$86
33 years$1,248$862$581$384$250$75
34 years$1,198$817$543$353$226$65
35 years$1,151$775$507$325$205$56
36 years$1,107$735$475$300$186$49
37 years$1,065$698$444$276$168$42
38 years$1,026$664$416$254$153$36
39 years$988$631$390$235$138$31
40 years$953$600$365$216$126$27
41 years$919$571$343$200$114$24
42 years$887$544$321$184$103$20
43 years$857$519$302$170$94$18
44 years$828$494$283$157$85$15
45 years$801$471$266$145$77$13
46 years$774$450$250$134$70$12
47 years$749$429$235$124$64$10
48 years$725$410$220$114$58$9
49 years$702$391$207$106$53$7
50 years$681$374$195$98$48$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $697,000, adding $6,706 every year, while hoping to spend $33,847 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: 65/19/16 Blend
54$697,000$697,000$697,000$697,000
55$775,011$738,070$727,267$821,946
56$818,049$738,223$715,617$854,354
57$864,343$737,248$702,443$885,234
58$914,189$735,056$687,657$918,151
59$967,911$731,549$671,169$953,305
60$1,025,869$726,626$652,884$990,916
61$1,088,454$720,177$632,702$1,031,226
62$1,156,098$712,087$610,519$1,074,506
63$1,229,275$702,234$586,227$1,121,053
64$1,308,506$690,489$559,711$1,171,195
65$1,394,366$676,715$530,853$1,225,297
66$1,487,483$660,766$499,529$1,283,760
67$1,588,552$642,489$465,608$1,347,028
68$1,698,334$621,721$428,956$1,415,594
69$1,817,667$598,289$389,429$1,490,000
70$1,947,475$572,011$346,881$1,570,846
71$2,088,773$542,694$301,156$1,658,795
72$2,242,676$510,134$252,094$1,754,579
73$2,410,414$474,116$199,524$1,859,009
74$2,593,339$434,411$143,271$1,972,979
75$2,792,941$390,778$83,151$2,097,476
76$3,010,856$342,962$18,973$2,233,591
77$3,248,890$290,693$0$2,382,531
78$3,509,027$233,688$0$2,554,080
79$3,793,454$171,644$0$2,745,260
80$4,104,578$104,246$0$2,954,489
81$4,445,048$31,157$0$3,183,599
82$4,817,782$0$0$3,434,609
83$5,225,995$0$0$3,719,776
84$5,673,225$0$0$4,039,384
85$6,163,369$0$0$4,389,707
86$6,700,719$0$0$4,773,819
87$7,290,002$0$0$5,195,107
88$7,936,426$0$0$5,657,298
89$8,645,724$0$0$6,164,500
90$9,424,213$0$0$6,721,237
91$10,278,852$0$0$7,332,491
92$11,217,306$0$0$8,003,752
93$12,248,017$0$0$8,741,068
94$13,380,287$0$0$9,551,099
95$14,624,362$0$0$10,441,184
96$15,991,530$0$0$11,419,407
97$17,494,227$0$0$12,494,676
98$19,146,153$0$0$13,676,803
99$20,962,402$0$0$14,976,599
100$22,959,605$0$0$16,405,974