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%19.5%
1 years$58,053$57,536$57,031$56,539$56,058$53,919
2 years$28,739$28,204$27,685$27,182$26,694$24,565
3 years$18,969$18,432$17,914$17,416$16,936$14,882
4 years$14,085$13,549$13,037$12,547$12,079$10,117
5 years$11,155$10,623$10,117$9,637$9,182$7,317
6 years$9,203$8,674$8,176$7,707$7,266$5,499
7 years$7,809$7,285$6,794$6,336$5,909$4,240
8 years$6,764$6,244$5,762$5,316$4,902$3,329
9 years$5,951$5,437$4,963$4,528$4,128$2,649
10 years$5,302$4,792$4,327$3,903$3,517$2,129
11 years$4,771$4,266$3,809$3,397$3,025$1,725
12 years$4,328$3,829$3,381$2,979$2,621$1,406
13 years$3,954$3,460$3,020$2,630$2,286$1,151
14 years$3,634$3,145$2,714$2,335$2,004$946
15 years$3,357$2,873$2,450$2,082$1,764$780
16 years$3,115$2,636$2,221$1,864$1,559$645
17 years$2,901$2,428$2,021$1,675$1,383$535
18 years$2,711$2,244$1,845$1,510$1,229$444
19 years$2,542$2,079$1,689$1,364$1,096$369
20 years$2,389$1,932$1,550$1,236$979$307
21 years$2,252$1,800$1,426$1,121$876$256
22 years$2,127$1,680$1,314$1,020$785$213
23 years$2,013$1,571$1,214$928$705$178
24 years$1,908$1,472$1,122$847$633$148
25 years$1,812$1,382$1,039$773$570$124
26 years$1,724$1,298$964$707$513$103
27 years$1,643$1,222$895$647$463$86
28 years$1,567$1,151$832$593$418$72
29 years$1,497$1,086$774$544$377$60
30 years$1,431$1,026$721$499$341$50
31 years$1,370$970$673$458$308$42
32 years$1,313$918$627$421$279$35
33 years$1,259$869$586$387$252$30
34 years$1,209$824$547$356$228$25
35 years$1,161$781$512$328$207$21
36 years$1,117$741$479$302$187$17
37 years$1,074$704$448$278$170$14
38 years$1,035$669$420$257$154$12
39 years$997$636$393$237$140$10
40 years$961$605$369$218$127$8
41 years$927$576$346$201$115$7
42 years$895$549$324$186$104$6
43 years$864$523$304$172$95$5
44 years$835$499$286$158$86$4
45 years$807$475$268$146$78$3
46 years$781$454$252$135$71$3
47 years$756$433$237$125$64$2
48 years$732$413$222$115$58$2
49 years$708$395$209$107$53$2
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 $3,969 every year, while hoping to spend $35,726 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: 41/39/20 Blend
54$703,000$703,000$703,000$703,000
55$778,800$741,541$730,645$805,997
56$820,225$739,864$717,109$824,077
57$864,679$736,908$701,923$839,895
58$912,431$732,572$684,992$856,280
59$963,781$726,749$666,221$873,305
60$1,019,054$719,327$645,506$891,049
61$1,078,609$710,186$622,742$909,604
62$1,142,840$699,198$597,818$929,073
63$1,212,181$686,230$570,616$949,572
64$1,287,107$671,139$541,015$971,233
65$1,368,141$653,774$508,888$994,204
66$1,455,857$633,974$474,101$1,018,653
67$1,550,888$611,572$436,517$1,044,766
68$1,653,927$586,388$395,989$1,072,756
69$1,765,739$558,233$352,367$1,102,857
70$1,887,164$526,906$305,491$1,135,335
71$2,019,127$492,196$255,196$1,170,487
72$2,162,642$453,878$201,310$1,208,644
73$2,318,830$411,716$143,651$1,250,179
74$2,488,919$365,460$82,033$1,295,506
75$2,674,266$314,844$16,258$1,345,087
76$2,876,359$259,589$0$1,399,441
77$3,096,840$199,401$0$1,470,652
78$3,337,512$133,967$0$1,552,303
79$3,600,365$62,957$0$1,641,685
80$3,887,585$0$0$1,739,643
81$4,201,580$0$0$1,853,112
82$4,545,004$0$0$2,006,853
83$4,920,774$0$0$2,175,163
84$5,332,107$0$0$2,359,495
85$5,782,543$0$0$2,561,447
86$6,275,979$0$0$2,782,778
87$6,816,710$0$0$3,025,426
88$7,409,464$0$0$3,291,528
89$8,059,448$0$0$3,583,433
90$8,772,399$0$0$3,903,732
91$9,554,633$0$0$4,255,277
92$10,413,111$0$0$4,641,210
93$11,355,495$0$0$5,064,994
94$12,390,231$0$0$5,530,441
95$13,526,619$0$0$6,041,750
96$14,774,905$0$0$6,603,551
97$16,146,376$0$0$7,220,939
98$17,653,467$0$0$7,899,532
99$19,309,875$0$0$8,645,516
100$21,130,694$0$0$9,465,707