Can I retire at age 55 with 704,000?

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 $704,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$58,136$57,618$57,113$56,619$56,138$55,691
2 years$28,780$28,244$27,725$27,221$26,732$26,282
3 years$18,996$18,458$17,940$17,441$16,960$16,520
4 years$14,105$13,568$13,055$12,565$12,096$11,670
5 years$11,171$10,638$10,132$9,651$9,195$8,784
6 years$9,216$8,687$8,188$7,718$7,276$6,880
7 years$7,820$7,295$6,804$6,345$5,917$5,537
8 years$6,773$6,253$5,770$5,323$4,909$4,544
9 years$5,960$5,444$4,970$4,534$4,134$3,785
10 years$5,309$4,799$4,333$3,908$3,522$3,189
11 years$4,777$4,272$3,815$3,401$3,029$2,711
12 years$4,335$3,835$3,385$2,984$2,625$2,322
13 years$3,960$3,465$3,025$2,634$2,289$2,000
14 years$3,639$3,150$2,718$2,338$2,007$1,732
15 years$3,362$2,877$2,454$2,085$1,767$1,506
16 years$3,119$2,640$2,225$1,867$1,562$1,314
17 years$2,905$2,431$2,024$1,678$1,385$1,150
18 years$2,715$2,247$1,848$1,512$1,231$1,009
19 years$2,545$2,082$1,692$1,366$1,097$887
20 years$2,393$1,935$1,553$1,237$980$782
21 years$2,255$1,802$1,428$1,123$877$690
22 years$2,130$1,682$1,316$1,021$786$610
23 years$2,015$1,573$1,215$930$706$540
24 years$1,911$1,474$1,124$848$634$478
25 years$1,815$1,384$1,041$774$571$424
26 years$1,727$1,300$965$708$514$376
27 years$1,645$1,224$897$648$464$334
28 years$1,569$1,153$833$594$418$297
29 years$1,499$1,088$776$545$378$264
30 years$1,433$1,027$722$500$341$235
31 years$1,372$971$673$459$309$209
32 years$1,314$919$628$422$279$187
33 years$1,261$870$587$388$253$166
34 years$1,210$825$548$357$229$148
35 years$1,163$782$513$329$207$132
36 years$1,118$743$479$303$188$118
37 years$1,076$705$449$279$170$105
38 years$1,036$670$420$257$154$94
39 years$998$637$394$237$140$84
40 years$962$606$369$219$127$75
41 years$929$577$346$202$115$67
42 years$896$550$325$186$104$59
43 years$866$524$305$172$95$53
44 years$836$499$286$159$86$47
45 years$809$476$268$146$78$42
46 years$782$454$252$135$71$38
47 years$757$433$237$125$64$34
48 years$733$414$223$116$58$30
49 years$709$395$209$107$53$27
50 years$687$377$197$99$48$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $704,000, adding $5,712 every year, while hoping to spend $56,657 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: 43/29/28 Blend
54$704,000$704,000$704,000$704,000
55$781,700$744,388$733,476$808,722
56$801,151$720,580$697,765$804,826
57$820,687$693,707$658,958$794,807
58$840,256$663,559$616,893$782,868
59$859,802$629,912$571,399$768,865
60$879,257$592,533$522,296$752,644
61$898,547$551,173$469,398$734,040
62$917,587$505,569$412,511$712,877
63$936,281$455,443$351,431$688,966
64$954,524$400,501$285,946$662,105
65$972,193$340,433$215,833$632,080
66$989,154$274,912$140,861$598,659
67$1,005,256$203,591$60,788$561,595
68$1,020,330$126,104$0$520,625
69$1,034,186$42,066$0$482,834
70$1,046,613$0$0$460,409
71$1,057,377$0$0$450,544
72$1,066,214$0$0$453,141
73$1,072,834$0$0$454,637
74$1,076,913$0$0$454,876
75$1,078,088$0$0$453,688
76$1,075,961$0$0$450,878
77$1,070,085$0$0$446,236
78$1,059,968$0$0$439,526
79$1,045,063$0$0$430,486
80$1,024,761$0$0$418,827
81$998,392$0$0$404,229
82$965,210$0$0$386,336
83$924,390$0$0$364,755
84$875,020$0$0$339,053
85$816,088$0$0$308,746
86$746,478$0$0$273,305
87$664,953$0$0$232,140
88$570,145$0$0$184,602
89$460,545$0$0$129,971
90$334,481$0$0$67,454
91$190,107$0$0$0
92$25,385$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0