Can I retire at age 55 with 703,000?

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 $703,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$58,053$57,536$57,031$56,539$56,058$55,822
2 years$28,739$28,204$27,685$27,182$26,694$26,456
3 years$18,969$18,432$17,914$17,416$16,936$16,703
4 years$14,085$13,549$13,037$12,547$12,079$11,852
5 years$11,155$10,623$10,117$9,637$9,182$8,963
6 years$9,203$8,674$8,176$7,707$7,266$7,055
7 years$7,809$7,285$6,794$6,336$5,909$5,706
8 years$6,764$6,244$5,762$5,316$4,902$4,707
9 years$5,951$5,437$4,963$4,528$4,128$3,941
10 years$5,302$4,792$4,327$3,903$3,517$3,338
11 years$4,771$4,266$3,809$3,397$3,025$2,854
12 years$4,328$3,829$3,381$2,979$2,621$2,458
13 years$3,954$3,460$3,020$2,630$2,286$2,130
14 years$3,634$3,145$2,714$2,335$2,004$1,855
15 years$3,357$2,873$2,450$2,082$1,764$1,622
16 years$3,115$2,636$2,221$1,864$1,559$1,424
17 years$2,901$2,428$2,021$1,675$1,383$1,254
18 years$2,711$2,244$1,845$1,510$1,229$1,108
19 years$2,542$2,079$1,689$1,364$1,096$980
20 years$2,389$1,932$1,550$1,236$979$869
21 years$2,252$1,800$1,426$1,121$876$772
22 years$2,127$1,680$1,314$1,020$785$687
23 years$2,013$1,571$1,214$928$705$612
24 years$1,908$1,472$1,122$847$633$546
25 years$1,812$1,382$1,039$773$570$488
26 years$1,724$1,298$964$707$513$436
27 years$1,643$1,222$895$647$463$390
28 years$1,567$1,151$832$593$418$349
29 years$1,497$1,086$774$544$377$313
30 years$1,431$1,026$721$499$341$280
31 years$1,370$970$673$458$308$252
32 years$1,313$918$627$421$279$226
33 years$1,259$869$586$387$252$203
34 years$1,209$824$547$356$228$182
35 years$1,161$781$512$328$207$163
36 years$1,117$741$479$302$187$147
37 years$1,074$704$448$278$170$132
38 years$1,035$669$420$257$154$119
39 years$997$636$393$237$140$107
40 years$961$605$369$218$127$96
41 years$927$576$346$201$115$86
42 years$895$549$324$186$104$78
43 years$864$523$304$172$95$70
44 years$835$499$286$158$86$63
45 years$807$475$268$146$78$57
46 years$781$454$252$135$71$51
47 years$756$433$237$125$64$46
48 years$732$413$222$115$58$41
49 years$708$395$209$107$53$37
50 years$686$377$196$99$48$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $703,000, adding $6,835 every year, while hoping to spend $39,550 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: 52/22/26 Blend
54$703,000$703,000$703,000$703,000
55$781,756$744,497$733,601$816,407
56$819,415$738,897$716,096$835,554
57$859,588$731,696$696,678$851,792
58$902,493$722,776$675,243$868,659
59$948,363$712,008$651,680$886,230
60$997,457$699,257$625,872$904,591
61$1,050,058$684,381$597,699$923,839
62$1,106,476$667,228$567,035$944,082
63$1,167,053$647,638$533,746$965,445
64$1,232,161$625,442$497,696$988,065
65$1,302,212$600,458$458,739$1,012,096
66$1,377,655$572,499$416,724$1,037,713
67$1,458,986$541,361$371,495$1,065,110
68$1,546,749$506,834$322,886$1,094,507
69$1,641,540$468,691$270,725$1,126,147
70$1,744,015$426,696$214,833$1,160,303
71$1,854,898$380,596$155,022$1,197,281
72$1,974,979$330,127$91,097$1,237,421
73$2,105,131$275,008$22,854$1,281,103
74$2,246,313$214,942$0$1,328,751
75$2,399,580$149,617$0$1,394,702
76$2,566,089$78,701$0$1,473,284
77$2,747,118$1,845$0$1,558,800
78$2,944,070$0$0$1,651,970
79$3,158,488$0$0$1,773,274
80$3,392,071$0$0$1,905,971
81$3,646,690$0$0$2,050,687
82$3,924,402$0$0$2,208,598
83$4,227,471$0$0$2,381,001
84$4,558,391$0$0$2,569,324
85$4,919,906$0$0$2,775,138
86$5,315,037$0$0$3,000,172
87$5,747,110$0$0$3,246,333
88$6,219,788$0$0$3,515,716
89$6,737,103$0$0$3,810,631
90$7,303,495$0$0$4,133,621
91$7,923,854$0$0$4,487,488
92$8,603,566$0$0$4,875,314
93$9,348,559$0$0$5,300,496
94$10,165,366$0$0$5,766,776
95$11,061,179$0$0$6,278,274
96$12,043,922$0$0$6,839,528
97$13,122,322$0$0$7,455,537
98$14,305,991$0$0$8,131,808
99$15,605,518$0$0$8,874,407
100$17,032,567$0$0$9,690,016