Can I retire at age 55 with 704,000?

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 $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%14.8%
1 years$58,136$57,618$57,113$56,619$56,138$55,027
2 years$28,780$28,244$27,725$27,221$26,732$25,618
3 years$18,996$18,458$17,940$17,441$16,960$15,877
4 years$14,105$13,568$13,055$12,565$12,096$11,052
5 years$11,171$10,638$10,132$9,651$9,195$8,194
6 years$9,216$8,687$8,188$7,718$7,276$6,318
7 years$7,820$7,295$6,804$6,345$5,917$5,003
8 years$6,773$6,253$5,770$5,323$4,909$4,038
9 years$5,960$5,444$4,970$4,534$4,134$3,306
10 years$5,309$4,799$4,333$3,908$3,522$2,737
11 years$4,777$4,272$3,815$3,401$3,029$2,285
12 years$4,335$3,835$3,385$2,984$2,625$1,921
13 years$3,960$3,465$3,025$2,634$2,289$1,624
14 years$3,639$3,150$2,718$2,338$2,007$1,379
15 years$3,362$2,877$2,454$2,085$1,767$1,176
16 years$3,119$2,640$2,225$1,867$1,562$1,005
17 years$2,905$2,431$2,024$1,678$1,385$862
18 years$2,715$2,247$1,848$1,512$1,231$741
19 years$2,545$2,082$1,692$1,366$1,097$638
20 years$2,393$1,935$1,553$1,237$980$550
21 years$2,255$1,802$1,428$1,123$877$475
22 years$2,130$1,682$1,316$1,021$786$411
23 years$2,015$1,573$1,215$930$706$355
24 years$1,911$1,474$1,124$848$634$308
25 years$1,815$1,384$1,041$774$571$267
26 years$1,727$1,300$965$708$514$231
27 years$1,645$1,224$897$648$464$201
28 years$1,569$1,153$833$594$418$174
29 years$1,499$1,088$776$545$378$152
30 years$1,433$1,027$722$500$341$132
31 years$1,372$971$673$459$309$114
32 years$1,314$919$628$422$279$100
33 years$1,261$870$587$388$253$87
34 years$1,210$825$548$357$229$75
35 years$1,163$782$513$329$207$66
36 years$1,118$743$479$303$188$57
37 years$1,076$705$449$279$170$50
38 years$1,036$670$420$257$154$43
39 years$998$637$394$237$140$38
40 years$962$606$369$219$127$33
41 years$929$577$346$202$115$28
42 years$896$550$325$186$104$25
43 years$866$524$305$172$95$22
44 years$836$499$286$159$86$19
45 years$809$476$268$146$78$16
46 years$782$454$252$135$71$14
47 years$757$433$237$125$64$12
48 years$733$414$223$116$58$11
49 years$709$395$209$107$53$9
50 years$687$377$197$99$48$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $704,000, adding $5,298 every year, while hoping to spend $35,250 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: 74/12/14 Blend
54$704,000$704,000$704,000$704,000
55$781,273$743,961$733,049$836,357
56$823,457$742,909$720,100$872,449
57$868,762$740,625$705,537$907,101
58$917,470$737,009$689,266$944,117
59$969,890$731,960$671,194$983,722
60$1,026,359$725,367$651,219$1,026,163
61$1,087,250$717,113$629,238$1,071,714
62$1,152,974$707,075$605,141$1,120,679
63$1,223,977$695,122$578,814$1,173,389
64$1,300,755$681,115$550,137$1,230,214
65$1,383,851$664,908$518,984$1,291,560
66$1,473,860$646,345$485,227$1,357,874
67$1,571,439$625,262$448,728$1,429,651
68$1,677,310$601,483$409,344$1,507,438
69$1,792,265$574,826$366,927$1,591,836
70$1,917,178$545,094$321,320$1,683,511
71$2,053,008$512,081$272,362$1,783,195
72$2,200,811$475,570$219,883$1,891,698
73$2,361,750$435,328$163,705$2,009,913
74$2,537,103$391,114$103,643$2,138,826
75$2,728,277$342,668$39,505$2,279,524
76$2,936,821$289,719$0$2,433,207
77$3,164,440$231,978$0$2,605,521
78$3,413,010$169,142$0$2,800,182
79$3,684,597$100,890$0$3,012,927
80$3,981,474$26,882$0$3,245,567
81$4,306,147$0$0$3,500,099
82$4,661,370$0$0$3,785,754
83$5,050,180$0$0$4,102,332
84$5,475,919$0$0$4,449,011
85$5,942,269$0$0$4,828,789
86$6,453,281$0$0$5,244,974
87$7,013,422$0$0$5,701,205
88$7,627,606$0$0$6,201,490
89$8,301,251$0$0$6,750,245
90$9,040,319$0$0$7,352,334
91$9,851,381$0$0$8,013,113
92$10,741,673$0$0$8,738,483
93$11,719,167$0$0$9,534,944
94$12,792,643$0$0$10,409,656
95$13,971,775$0$0$11,370,505
96$15,267,218$0$0$12,426,182
97$16,690,711$0$0$13,586,259
98$18,255,187$0$0$14,861,280
99$19,974,893$0$0$16,262,864
100$21,865,526$0$0$17,803,810