Can I retire at age 55 with 706,000?

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 $706,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$58,301$57,782$57,275$56,780$56,297$55,594
2 years$28,862$28,324$27,803$27,298$26,808$26,100
3 years$19,050$18,510$17,991$17,490$17,008$16,318
4 years$14,145$13,607$13,093$12,601$12,130$11,463
5 years$11,203$10,668$10,160$9,679$9,221$8,579
6 years$9,242$8,711$8,211$7,740$7,297$6,680
7 years$7,842$7,316$6,823$6,364$5,934$5,343
8 years$6,793$6,271$5,787$5,338$4,923$4,358
9 years$5,977$5,460$4,984$4,547$4,146$3,606
10 years$5,324$4,813$4,345$3,920$3,532$3,018
11 years$4,791$4,284$3,826$3,411$3,038$2,549
12 years$4,347$3,845$3,395$2,992$2,633$2,167
13 years$3,971$3,475$3,033$2,642$2,296$1,854
14 years$3,650$3,159$2,725$2,345$2,012$1,594
15 years$3,371$2,886$2,461$2,091$1,772$1,375
16 years$3,128$2,648$2,231$1,872$1,566$1,191
17 years$2,913$2,438$2,030$1,682$1,389$1,035
18 years$2,723$2,253$1,853$1,516$1,235$901
19 years$2,553$2,088$1,697$1,370$1,100$786
20 years$2,399$1,940$1,557$1,241$983$687
21 years$2,261$1,807$1,432$1,126$880$601
22 years$2,136$1,687$1,320$1,024$788$527
23 years$2,021$1,578$1,219$932$708$462
24 years$1,916$1,478$1,127$850$636$406
25 years$1,820$1,387$1,044$777$572$357
26 years$1,731$1,304$968$710$516$314
27 years$1,650$1,227$899$650$465$277
28 years$1,574$1,156$836$596$419$244
29 years$1,503$1,091$778$546$379$215
30 years$1,437$1,030$724$501$342$190
31 years$1,376$974$675$460$309$167
32 years$1,318$922$630$423$280$148
33 years$1,264$873$588$389$253$130
34 years$1,214$827$550$358$229$115
35 years$1,166$785$514$330$208$102
36 years$1,121$745$481$303$188$90
37 years$1,079$707$450$280$171$79
38 years$1,039$672$421$258$155$70
39 years$1,001$639$395$238$140$62
40 years$965$608$370$219$127$55
41 years$931$579$347$202$115$48
42 years$899$551$326$187$105$43
43 years$868$525$305$172$95$38
44 years$839$501$287$159$86$34
45 years$811$477$269$147$78$30
46 years$784$455$253$136$71$26
47 years$759$435$238$125$65$23
48 years$735$415$223$116$59$21
49 years$712$396$210$107$53$18
50 years$689$378$197$99$48$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $706,000, adding $2,359 every year, while hoping to spend $32,539 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: 35/37/28 Blend
54$706,000$706,000$706,000$706,000
55$780,445$743,027$732,084$801,106
56$825,429$744,814$721,988$818,570
57$873,911$745,598$710,463$834,308
58$926,214$745,296$697,426$850,662
59$982,690$743,819$682,793$867,710
60$1,043,731$741,072$666,473$885,540
61$1,109,763$736,956$648,371$904,251
62$1,181,256$731,364$628,389$923,954
63$1,258,729$724,185$606,425$944,776
64$1,342,749$715,300$582,369$966,858
65$1,433,940$704,581$556,110$990,360
66$1,532,992$691,895$527,530$1,015,461
67$1,640,660$677,101$496,505$1,042,363
68$1,757,776$660,048$462,906$1,071,290
69$1,885,256$640,577$426,600$1,102,495
70$2,024,107$618,519$387,446$1,136,261
71$2,175,436$593,698$345,296$1,172,904
72$2,340,465$565,923$299,998$1,212,777
73$2,520,536$534,996$251,391$1,256,274
74$2,717,126$500,706$199,308$1,303,835
75$2,931,862$462,831$143,574$1,355,950
76$3,166,535$421,133$84,007$1,413,166
77$3,423,118$375,364$20,417$1,476,092
78$3,703,780$325,261$0$1,545,406
79$4,010,911$270,545$0$1,636,035
80$4,347,145$210,922$0$1,742,076
81$4,715,379$146,082$0$1,858,418
82$5,118,804$75,697$0$1,986,165
83$5,560,937$0$0$2,126,538
84$6,045,647$0$0$2,281,123
85$6,577,199$0$0$2,484,546
86$7,160,289$0$0$2,707,797
87$7,800,088$0$0$2,952,869
88$8,502,295$0$0$3,221,958
89$9,273,184$0$0$3,517,483
90$10,119,669$0$0$3,842,108
91$11,049,366$0$0$4,198,769
92$12,070,662$0$0$4,590,699
93$13,192,800$0$0$5,021,461
94$14,425,960$0$0$5,494,981
95$15,781,359$0$0$6,015,581
96$17,271,352$0$0$6,588,026
97$18,909,555$0$0$7,217,564
98$20,710,964$0$0$7,909,979
99$22,692,106$0$0$8,671,640
100$24,871,185$0$0$9,509,569