Can I retire at age 55 with 703,000?

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 $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%20%
1 years$58,053$57,536$57,031$56,539$56,058$53,813
2 years$28,739$28,204$27,685$27,182$26,694$24,460
3 years$18,969$18,432$17,914$17,416$16,936$14,784
4 years$14,085$13,549$13,037$12,547$12,079$10,025
5 years$11,155$10,623$10,117$9,637$9,182$7,231
6 years$9,203$8,674$8,176$7,707$7,266$5,419
7 years$7,809$7,285$6,794$6,336$5,909$4,166
8 years$6,764$6,244$5,762$5,316$4,902$3,262
9 years$5,951$5,437$4,963$4,528$4,128$2,587
10 years$5,302$4,792$4,327$3,903$3,517$2,073
11 years$4,771$4,266$3,809$3,397$3,025$1,674
12 years$4,328$3,829$3,381$2,979$2,621$1,360
13 years$3,954$3,460$3,020$2,630$2,286$1,110
14 years$3,634$3,145$2,714$2,335$2,004$909
15 years$3,357$2,873$2,450$2,082$1,764$747
16 years$3,115$2,636$2,221$1,864$1,559$615
17 years$2,901$2,428$2,021$1,675$1,383$508
18 years$2,711$2,244$1,845$1,510$1,229$420
19 years$2,542$2,079$1,689$1,364$1,096$348
20 years$2,389$1,932$1,550$1,236$979$288
21 years$2,252$1,800$1,426$1,121$876$239
22 years$2,127$1,680$1,314$1,020$785$199
23 years$2,013$1,571$1,214$928$705$165
24 years$1,908$1,472$1,122$847$633$137
25 years$1,812$1,382$1,039$773$570$114
26 years$1,724$1,298$964$707$513$95
27 years$1,643$1,222$895$647$463$79
28 years$1,567$1,151$832$593$418$66
29 years$1,497$1,086$774$544$377$55
30 years$1,431$1,026$721$499$341$46
31 years$1,370$970$673$458$308$38
32 years$1,313$918$627$421$279$32
33 years$1,259$869$586$387$252$26
34 years$1,209$824$547$356$228$22
35 years$1,161$781$512$328$207$18
36 years$1,117$741$479$302$187$15
37 years$1,074$704$448$278$170$13
38 years$1,035$669$420$257$154$11
39 years$997$636$393$237$140$9
40 years$961$605$369$218$127$7
41 years$927$576$346$201$115$6
42 years$895$549$324$186$104$5
43 years$864$523$304$172$95$4
44 years$835$499$286$158$86$4
45 years$807$475$268$146$78$3
46 years$781$454$252$135$71$2
47 years$756$433$237$125$64$2
48 years$732$413$222$115$58$2
49 years$708$395$209$107$53$1
50 years$686$377$196$99$48$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $703,000, adding $4,297 every year, while hoping to spend $32,242 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: 61/16/23 Blend
54$703,000$703,000$703,000$703,000
55$779,138$741,879$730,983$821,683
56$824,305$743,926$721,166$853,067
57$872,999$744,993$709,939$883,394
58$925,544$744,997$697,221$915,781
59$982,299$743,851$682,928$950,432
60$1,043,657$741,464$666,970$987,577
61$1,110,051$737,736$649,254$1,027,466
62$1,181,954$732,564$629,682$1,070,379
63$1,259,891$725,836$608,153$1,116,624
64$1,344,434$717,436$584,561$1,166,542
65$1,436,215$707,240$558,793$1,220,510
66$1,535,930$695,116$530,733$1,278,947
67$1,644,342$680,924$500,260$1,342,313
68$1,762,293$664,516$467,246$1,411,118
69$1,890,706$645,737$431,558$1,485,927
70$2,030,600$624,420$393,058$1,567,363
71$2,183,095$600,391$351,599$1,656,115
72$2,349,424$573,463$307,031$1,752,945
73$2,530,944$543,442$259,195$1,858,694
74$2,729,148$510,118$207,926$1,974,293
75$2,945,680$473,273$153,050$2,100,769
76$3,182,351$432,674$94,389$2,239,257
77$3,441,152$388,077$31,752$2,391,011
78$3,724,279$339,222$0$2,557,415
79$4,034,146$285,835$0$2,748,611
80$4,373,415$227,627$0$2,966,552
81$4,745,015$164,291$0$3,205,355
82$5,152,171$95,506$0$3,467,133
83$5,598,437$20,931$0$3,754,218
84$6,087,725$0$0$4,069,179
85$6,624,346$0$0$4,425,377
86$7,213,046$0$0$4,820,242
87$7,859,053$0$0$5,253,603
88$8,568,126$0$0$5,729,330
89$9,346,610$0$0$6,251,687
90$10,201,492$0$0$6,825,370
91$11,140,470$0$0$7,455,553
92$12,172,024$0$0$8,147,935
93$13,305,496$0$0$8,908,796
94$14,551,178$0$0$9,745,053
95$15,920,408$0$0$10,664,325
96$17,425,678$0$0$11,675,010
97$19,080,748$0$0$12,786,357
98$20,900,782$0$0$14,008,557
99$22,902,484$0$0$15,352,838
100$25,104,258$0$0$16,831,571