Can I retire at age 55 with 702,000?

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 $702,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$57,971$57,454$56,950$56,459$55,978$55,233
2 years$28,698$28,164$27,646$27,144$26,656$25,907
3 years$18,942$18,405$17,889$17,391$16,912$16,181
4 years$14,065$13,530$13,018$12,529$12,062$11,356
5 years$11,140$10,608$10,103$9,624$9,169$8,490
6 years$9,190$8,662$8,165$7,696$7,255$6,603
7 years$7,798$7,274$6,785$6,327$5,900$5,276
8 years$6,754$6,235$5,754$5,308$4,895$4,298
9 years$5,943$5,429$4,956$4,521$4,122$3,553
10 years$5,294$4,785$4,321$3,897$3,512$2,970
11 years$4,764$4,260$3,804$3,392$3,021$2,504
12 years$4,322$3,824$3,376$2,975$2,618$2,127
13 years$3,949$3,456$3,016$2,627$2,283$1,817
14 years$3,629$3,141$2,710$2,332$2,001$1,560
15 years$3,352$2,869$2,447$2,079$1,762$1,345
16 years$3,110$2,633$2,218$1,862$1,557$1,163
17 years$2,897$2,424$2,019$1,673$1,381$1,008
18 years$2,707$2,240$1,843$1,508$1,228$877
19 years$2,538$2,076$1,687$1,362$1,094$764
20 years$2,386$1,929$1,548$1,234$977$667
21 years$2,248$1,797$1,424$1,120$875$583
22 years$2,124$1,678$1,312$1,018$784$510
23 years$2,010$1,569$1,212$927$704$447
24 years$1,906$1,470$1,121$846$633$392
25 years$1,810$1,380$1,038$772$569$344
26 years$1,722$1,297$963$706$513$302
27 years$1,640$1,220$894$646$462$266
28 years$1,565$1,150$831$592$417$234
29 years$1,494$1,085$773$543$377$206
30 years$1,429$1,024$720$498$340$181
31 years$1,368$968$672$458$308$160
32 years$1,311$916$627$421$278$141
33 years$1,257$868$585$387$252$124
34 years$1,207$822$547$356$228$109
35 years$1,160$780$511$328$207$96
36 years$1,115$740$478$302$187$85
37 years$1,073$703$447$278$170$75
38 years$1,033$668$419$256$154$66
39 years$995$635$393$236$139$58
40 years$960$605$368$218$126$52
41 years$926$576$345$201$115$45
42 years$894$548$324$186$104$40
43 years$863$522$304$171$94$35
44 years$834$498$285$158$86$31
45 years$806$475$268$146$78$28
46 years$780$453$251$135$71$24
47 years$755$432$236$125$64$22
48 years$731$413$222$115$58$19
49 years$707$394$209$106$53$17
50 years$685$376$196$98$48$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $702,000, adding $6,395 every year, while hoping to spend $23,658 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: 45/50/5 Blend
54$702,000$702,000$702,000$702,000
55$780,200$742,994$732,113$813,959
56$834,609$754,229$731,467$849,089
57$893,774$765,222$730,007$884,176
58$958,156$775,935$727,679$921,661
59$1,028,262$786,329$724,430$961,771
60$1,104,648$796,363$720,202$1,004,758
61$1,187,928$805,990$714,934$1,050,898
62$1,278,776$815,163$708,564$1,100,499
63$1,377,936$823,831$701,026$1,153,898
64$1,486,225$831,939$692,250$1,211,468
65$1,604,544$839,427$682,164$1,273,622
66$1,733,882$846,234$670,691$1,340,814
67$1,875,332$852,293$657,753$1,413,546
68$2,030,095$857,534$643,267$1,492,374
69$2,199,493$861,882$627,144$1,577,908
70$2,384,982$865,255$609,295$1,670,825
71$2,588,168$867,570$589,624$1,771,871
72$2,810,816$868,736$568,031$1,881,869
73$3,054,872$868,657$544,413$2,001,728
74$3,322,478$867,230$518,660$2,132,451
75$3,615,994$864,348$490,658$2,275,147
76$3,938,020$859,895$460,289$2,431,038
77$4,291,417$853,749$427,429$2,601,472
78$4,679,341$845,782$391,946$2,787,941
79$5,105,263$835,855$353,707$2,992,086
80$5,573,012$823,824$312,568$3,215,724
81$6,086,802$809,534$268,382$3,460,854
82$6,651,277$792,823$220,994$3,729,687
83$7,271,553$773,516$170,242$4,024,661
84$7,953,264$751,432$115,958$4,348,465
85$8,702,621$726,376$57,967$4,704,069
86$9,526,463$698,143$0$5,094,747
87$10,432,326$666,516$0$5,524,321
88$11,428,514$631,265$0$5,999,884
89$12,524,173$592,148$0$6,522,748
90$13,729,384$548,908$0$7,097,778
91$15,055,249$501,273$0$7,730,336
92$16,514,005$448,956$0$8,426,341
93$18,119,133$391,654$0$9,192,319
94$19,885,486$329,047$0$10,035,466
95$21,829,430$260,794$0$10,963,722
96$23,968,998$186,540$0$11,985,842
97$26,324,061$105,905$0$13,111,481
98$28,916,513$18,492$0$14,351,287
99$31,770,477$0$0$15,717,002
100$34,912,537$0$0$17,263,459