Can I retire at age 55 with 698,000?

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 $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%14.5%
1 years$57,640$57,127$56,626$56,137$55,660$54,625
2 years$28,535$28,003$27,488$26,989$26,505$25,466
3 years$18,834$18,300$17,787$17,292$16,816$15,806
4 years$13,985$13,453$12,944$12,458$11,993$11,019
5 years$11,076$10,547$10,045$9,569$9,117$8,182
6 years$9,137$8,613$8,118$7,652$7,214$6,319
7 years$7,753$7,233$6,746$6,291$5,867$5,013
8 years$6,716$6,200$5,721$5,278$4,867$4,053
9 years$5,909$5,398$4,928$4,495$4,099$3,324
10 years$5,264$4,758$4,296$3,875$3,492$2,757
11 years$4,737$4,236$3,782$3,373$3,004$2,306
12 years$4,298$3,802$3,357$2,958$2,603$1,942
13 years$3,926$3,436$2,999$2,612$2,270$1,645
14 years$3,608$3,123$2,695$2,318$1,990$1,400
15 years$3,333$2,853$2,433$2,067$1,752$1,196
16 years$3,092$2,618$2,206$1,851$1,548$1,025
17 years$2,880$2,411$2,007$1,663$1,373$881
18 years$2,692$2,228$1,832$1,499$1,221$759
19 years$2,524$2,064$1,677$1,354$1,088$655
20 years$2,372$1,918$1,539$1,227$972$566
21 years$2,236$1,787$1,416$1,113$870$490
22 years$2,111$1,668$1,305$1,012$780$424
23 years$1,998$1,560$1,205$922$700$368
24 years$1,895$1,462$1,114$841$629$320
25 years$1,800$1,372$1,032$768$566$278
26 years$1,712$1,289$957$702$510$241
27 years$1,631$1,213$889$643$460$210
28 years$1,556$1,143$826$589$415$183
29 years$1,486$1,079$769$540$374$159
30 years$1,421$1,019$716$496$338$139
31 years$1,360$963$668$455$306$121
32 years$1,303$911$623$418$277$105
33 years$1,250$863$582$385$250$92
34 years$1,200$818$544$354$227$80
35 years$1,153$776$508$326$205$70
36 years$1,109$736$475$300$186$61
37 years$1,067$699$445$276$169$53
38 years$1,027$664$417$255$153$46
39 years$990$632$390$235$139$41
40 years$954$601$366$217$126$35
41 years$921$572$343$200$114$31
42 years$889$545$322$185$104$27
43 years$858$519$302$170$94$24
44 years$829$495$283$157$85$21
45 years$802$472$266$145$77$18
46 years$775$450$250$134$70$16
47 years$750$430$235$124$64$14
48 years$726$410$221$115$58$12
49 years$703$392$207$106$53$10
50 years$681$374$195$98$48$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $698,000, adding $2,534 every year, while hoping to spend $29,532 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: 39/45/16 Blend
54$698,000$698,000$698,000$698,000
55$771,810$734,816$723,997$798,123
56$819,113$739,400$716,829$821,718
57$870,250$743,219$708,431$844,177
58$925,583$746,204$698,731$867,831
59$985,507$748,282$687,653$892,805
60$1,050,457$749,376$675,117$919,236
61$1,120,911$749,403$661,041$947,276
62$1,197,396$748,276$645,338$977,096
63$1,280,490$745,901$627,916$1,008,886
64$1,370,829$742,179$608,681$1,042,858
65$1,469,115$737,007$587,533$1,079,246
66$1,576,117$730,273$564,368$1,118,312
67$1,692,684$721,860$539,077$1,160,347
68$1,819,749$711,642$511,547$1,205,675
69$1,958,338$699,487$481,658$1,254,654
70$2,109,582$685,255$449,287$1,307,684
71$2,274,725$668,798$414,304$1,365,208
72$2,455,136$649,959$376,572$1,427,719
73$2,652,323$628,570$335,951$1,495,762
74$2,867,947$604,457$292,292$1,569,943
75$3,103,835$577,432$245,441$1,650,935
76$3,361,998$547,299$195,236$1,739,482
77$3,644,655$513,849$141,509$1,836,411
78$3,954,243$476,861$84,083$1,942,638
79$4,293,451$436,103$22,775$2,059,177
80$4,665,239$391,328$0$2,187,152
81$5,072,866$342,275$0$2,335,089
82$5,519,921$288,669$0$2,501,709
83$6,010,359$230,220$0$2,684,681
84$6,548,535$166,620$0$2,885,731
85$7,139,246$97,545$0$3,106,769
86$7,787,776$22,652$0$3,349,902
87$8,499,947$0$0$3,617,462
88$9,282,171$0$0$3,940,953
89$10,141,511$0$0$4,308,758
90$11,085,750$0$0$4,713,002
91$12,123,460$0$0$5,157,369
92$13,264,085$0$0$5,645,916
93$14,518,031$0$0$6,183,113
94$15,896,762$0$0$6,773,886
95$17,412,907$0$0$7,423,661
96$19,080,380$0$0$8,138,416
97$20,914,514$0$0$8,924,738
98$22,932,200$0$0$9,789,886
99$25,152,048$0$0$10,741,856
100$27,594,565$0$0$11,789,459