Can I retire at age 55 with 698,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$57,640$57,127$56,626$56,137$55,660$55,239
2 years$28,535$28,003$27,488$26,989$26,505$26,081
3 years$18,834$18,300$17,787$17,292$16,816$16,402
4 years$13,985$13,453$12,944$12,458$11,993$11,592
5 years$11,076$10,547$10,045$9,569$9,117$8,730
6 years$9,137$8,613$8,118$7,652$7,214$6,841
7 years$7,753$7,233$6,746$6,291$5,867$5,509
8 years$6,716$6,200$5,721$5,278$4,867$4,524
9 years$5,909$5,398$4,928$4,495$4,099$3,770
10 years$5,264$4,758$4,296$3,875$3,492$3,178
11 years$4,737$4,236$3,782$3,373$3,004$2,704
12 years$4,298$3,802$3,357$2,958$2,603$2,317
13 years$3,926$3,436$2,999$2,612$2,270$1,997
14 years$3,608$3,123$2,695$2,318$1,990$1,731
15 years$3,333$2,853$2,433$2,067$1,752$1,506
16 years$3,092$2,618$2,206$1,851$1,548$1,315
17 years$2,880$2,411$2,007$1,663$1,373$1,152
18 years$2,692$2,228$1,832$1,499$1,221$1,011
19 years$2,524$2,064$1,677$1,354$1,088$890
20 years$2,372$1,918$1,539$1,227$972$785
21 years$2,236$1,787$1,416$1,113$870$693
22 years$2,111$1,668$1,305$1,012$780$613
23 years$1,998$1,560$1,205$922$700$543
24 years$1,895$1,462$1,114$841$629$481
25 years$1,800$1,372$1,032$768$566$427
26 years$1,712$1,289$957$702$510$380
27 years$1,631$1,213$889$643$460$337
28 years$1,556$1,143$826$589$415$300
29 years$1,486$1,079$769$540$374$267
30 years$1,421$1,019$716$496$338$238
31 years$1,360$963$668$455$306$212
32 years$1,303$911$623$418$277$189
33 years$1,250$863$582$385$250$169
34 years$1,200$818$544$354$227$150
35 years$1,153$776$508$326$205$134
36 years$1,109$736$475$300$186$120
37 years$1,067$699$445$276$169$107
38 years$1,027$664$417$255$153$95
39 years$990$632$390$235$139$85
40 years$954$601$366$217$126$76
41 years$921$572$343$200$114$68
42 years$889$545$322$185$104$61
43 years$858$519$302$170$94$54
44 years$829$495$283$157$85$49
45 years$802$472$266$145$77$43
46 years$775$450$250$134$70$39
47 years$750$430$235$124$64$35
48 years$726$410$221$115$58$31
49 years$703$392$207$106$53$28
50 years$681$374$195$98$48$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $698,000, adding $3,639 every year, while hoping to spend $42,008 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: 43/47/10 Blend
54$698,000$698,000$698,000$698,000
55$772,950$735,956$725,137$803,797
56$807,094$727,321$704,733$817,014
57$843,314$716,856$682,237$826,792
58$881,775$704,425$657,535$836,438
59$922,662$689,888$630,509$845,957
60$966,174$673,093$601,031$855,357
61$1,012,530$653,881$568,972$864,650
62$1,061,971$632,083$534,195$873,852
63$1,114,758$607,522$496,557$882,986
64$1,171,181$580,008$455,909$892,079
65$1,231,554$549,341$412,094$901,166
66$1,296,224$515,310$364,951$910,291
67$1,365,570$477,692$314,309$919,505
68$1,440,010$436,250$259,989$928,872
69$1,519,999$390,735$201,807$938,466
70$1,606,041$340,882$139,570$948,375
71$1,698,685$286,414$73,073$958,701
72$1,798,537$227,034$2,107$969,564
73$1,906,262$162,432$0$981,103
74$2,022,588$92,280$0$1,001,334
75$2,148,320$16,229$0$1,023,337
76$2,284,338$0$0$1,047,122
77$2,431,613$0$0$1,107,139
78$2,591,208$0$0$1,181,344
79$2,764,297$0$0$1,261,898
80$2,952,168$0$0$1,349,411
81$3,156,238$0$0$1,444,552
82$3,378,066$0$0$1,548,059
83$3,619,367$0$0$1,660,743
84$3,882,027$0$0$1,783,496
85$4,168,125$0$0$1,917,301
86$4,479,943$0$0$2,063,238
87$4,819,996$0$0$2,222,497
88$5,191,053$0$0$2,396,389
89$5,596,159$0$0$2,586,354
90$6,038,668$0$0$2,793,980
91$6,522,271$0$0$3,021,014
92$7,051,033$0$0$3,269,380
93$7,629,429$0$0$3,541,196
94$8,262,386$0$0$3,838,795
95$8,955,329$0$0$4,164,746
96$9,714,233$0$0$4,521,877
97$10,545,677$0$0$4,913,304
98$11,456,907$0$0$5,342,457
99$12,455,903$0$0$5,813,117
100$13,551,454$0$0$6,329,443