Can I retire at age 55 with 705,000?

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 $705,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$58,218$57,700$57,194$56,700$56,218$54,881
2 years$28,821$28,284$27,764$27,260$26,770$25,431
3 years$19,023$18,484$17,965$17,465$16,984$15,685
4 years$14,125$13,588$13,074$12,583$12,113$10,864
5 years$11,187$10,653$10,146$9,665$9,208$8,012
6 years$9,229$8,699$8,199$7,729$7,286$6,144
7 years$7,831$7,305$6,814$6,354$5,926$4,838
8 years$6,783$6,262$5,779$5,331$4,916$3,882
9 years$5,968$5,452$4,977$4,541$4,140$3,160
10 years$5,317$4,806$4,339$3,914$3,527$2,599
11 years$4,784$4,278$3,820$3,406$3,034$2,156
12 years$4,341$3,840$3,390$2,988$2,629$1,801
13 years$3,966$3,470$3,029$2,638$2,292$1,512
14 years$3,645$3,154$2,722$2,342$2,010$1,276
15 years$3,366$2,882$2,457$2,088$1,769$1,080
16 years$3,123$2,644$2,228$1,870$1,564$917
17 years$2,909$2,435$2,027$1,680$1,387$781
18 years$2,719$2,250$1,851$1,514$1,233$666
19 years$2,549$2,085$1,694$1,368$1,099$569
20 years$2,396$1,938$1,555$1,239$982$487
21 years$2,258$1,805$1,430$1,124$878$417
22 years$2,133$1,685$1,318$1,022$787$358
23 years$2,018$1,576$1,217$931$707$308
24 years$1,914$1,476$1,126$849$635$264
25 years$1,818$1,385$1,042$776$572$227
26 years$1,729$1,302$967$709$515$196
27 years$1,647$1,225$898$649$464$168
28 years$1,571$1,155$835$595$419$145
29 years$1,501$1,089$777$545$378$125
30 years$1,435$1,029$723$501$342$108
31 years$1,374$973$674$460$309$93
32 years$1,316$920$629$422$279$80
33 years$1,263$871$588$388$253$69
34 years$1,212$826$549$357$229$60
35 years$1,164$783$513$329$207$51
36 years$1,120$744$480$303$188$44
37 years$1,077$706$449$279$170$38
38 years$1,037$671$421$257$154$33
39 years$1,000$638$394$237$140$29
40 years$964$607$370$219$127$25
41 years$930$578$347$202$115$21
42 years$898$550$325$186$105$18
43 years$867$524$305$172$95$16
44 years$838$500$286$159$86$14
45 years$810$477$269$147$78$12
46 years$783$455$253$136$71$10
47 years$758$434$237$125$64$9
48 years$734$414$223$116$59$8
49 years$710$396$210$107$53$7
50 years$688$378$197$99$48$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $705,000, adding $6,776 every year, while hoping to spend $54,299 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: 60/17/23 Blend
54$705,000$705,000$705,000$705,000
55$783,899$746,534$735,607$825,761
56$806,083$725,341$702,476$833,777
57$828,710$701,289$666,415$836,017
58$851,768$674,181$627,270$837,269
59$875,241$643,809$584,876$837,445
60$899,111$609,951$539,065$836,455
61$923,356$572,374$489,659$834,200
62$947,949$530,831$436,473$830,573
63$972,858$485,060$379,313$825,463
64$998,046$434,785$317,977$818,746
65$1,023,471$379,714$252,253$810,294
66$1,049,084$319,538$181,923$799,966
67$1,074,828$253,933$106,754$787,612
68$1,100,638$182,553$26,508$773,072
69$1,126,440$105,035$0$756,170
70$1,152,150$20,995$0$751,234
71$1,177,673$0$0$751,437
72$1,202,902$0$0$763,209
73$1,227,715$0$0$778,603
74$1,251,976$0$0$793,599
75$1,275,531$0$0$808,096
76$1,298,208$0$0$821,979
77$1,319,813$0$0$835,118
78$1,340,133$0$0$847,370
79$1,358,924$0$0$858,575
80$1,375,918$0$0$868,553
81$1,390,814$0$0$877,105
82$1,403,278$0$0$884,007
83$1,412,938$0$0$889,013
84$1,419,378$0$0$891,847
85$1,422,138$0$0$892,203
86$1,420,707$0$0$889,740
87$1,414,514$0$0$884,083
88$1,402,931$0$0$874,811
89$1,385,256$0$0$861,461
90$1,360,714$0$0$843,518
91$1,328,445$0$0$820,412
92$1,287,496$0$0$791,511
93$1,236,812$0$0$756,116
94$1,175,225$0$0$713,452
95$1,101,442$0$0$662,663
96$1,014,034$0$0$602,802
97$911,417$0$0$532,820
98$791,843$0$0$451,558
99$653,377$0$0$357,737
100$493,882$0$0$249,939