Can I retire at age 55 with 707,000?

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 $707,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$58,383$57,863$57,356$56,861$56,377$54,420
2 years$28,903$28,364$27,843$27,337$26,846$24,895
3 years$19,077$18,536$18,016$17,515$17,032$15,148
4 years$14,165$13,626$13,111$12,619$12,148$10,344
5 years$11,219$10,683$10,175$9,692$9,234$7,517
6 years$9,255$8,724$8,223$7,751$7,307$5,677
7 years$7,853$7,326$6,833$6,373$5,942$4,400
8 years$6,802$6,280$5,795$5,346$4,930$3,473
9 years$5,985$5,468$4,991$4,553$4,152$2,779
10 years$5,332$4,819$4,351$3,925$3,537$2,246
11 years$4,798$4,291$3,831$3,416$3,042$1,830
12 years$4,353$3,851$3,400$2,996$2,636$1,501
13 years$3,977$3,480$3,038$2,645$2,299$1,237
14 years$3,655$3,163$2,729$2,348$2,015$1,023
15 years$3,376$2,890$2,464$2,094$1,774$849
16 years$3,132$2,651$2,234$1,875$1,568$707
17 years$2,917$2,442$2,033$1,685$1,390$589
18 years$2,727$2,256$1,856$1,518$1,236$492
19 years$2,556$2,091$1,699$1,372$1,102$412
20 years$2,403$1,943$1,559$1,243$984$345
21 years$2,264$1,810$1,434$1,128$881$290
22 years$2,139$1,690$1,322$1,025$790$243
23 years$2,024$1,580$1,220$934$709$204
24 years$1,919$1,481$1,129$852$637$172
25 years$1,823$1,389$1,045$778$573$144
26 years$1,734$1,306$970$711$516$121
27 years$1,652$1,229$900$651$466$102
28 years$1,576$1,158$837$596$420$86
29 years$1,505$1,092$779$547$379$72
30 years$1,439$1,032$725$502$343$61
31 years$1,378$975$676$461$310$51
32 years$1,320$923$631$424$280$43
33 years$1,266$874$589$390$254$36
34 years$1,215$828$551$358$230$31
35 years$1,168$786$515$330$208$26
36 years$1,123$746$481$304$188$22
37 years$1,080$708$451$280$171$18
38 years$1,040$673$422$258$155$16
39 years$1,003$640$395$238$140$13
40 years$967$609$371$219$127$11
41 years$932$580$348$203$116$9
42 years$900$552$326$187$105$8
43 years$869$526$306$173$95$7
44 years$840$501$287$159$86$6
45 years$812$478$270$147$78$5
46 years$785$456$253$136$71$4
47 years$760$435$238$126$65$3
48 years$736$415$224$116$59$3
49 years$713$397$210$107$53$2
50 years$690$379$198$99$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $707,000, adding $2,924 every year, while hoping to spend $34,196 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: 57/31/12 Blend
54$707,000$707,000$707,000$707,000
55$782,130$744,659$733,701$824,203
56$825,523$744,763$721,895$853,077
57$872,196$743,726$708,548$880,491
58$922,447$741,456$693,572$909,552
59$976,605$737,855$676,875$940,423
60$1,035,029$732,820$658,360$973,285
61$1,098,114$726,241$637,928$1,008,338
62$1,166,296$718,001$615,473$1,045,805
63$1,240,052$707,977$590,885$1,085,932
64$1,319,908$696,038$564,049$1,128,991
65$1,406,439$682,045$534,846$1,175,287
66$1,500,282$665,851$503,149$1,225,153
67$1,602,133$647,300$468,827$1,278,962
68$1,712,762$626,229$431,744$1,337,126
69$1,833,011$602,462$391,755$1,400,100
70$1,963,811$575,815$348,712$1,468,390
71$2,106,184$546,094$302,457$1,542,555
72$2,261,253$513,091$252,828$1,623,214
73$2,430,257$476,588$199,654$1,711,052
74$2,614,557$436,355$142,757$1,806,829
75$2,815,653$392,148$81,950$1,911,384
76$3,035,195$343,709$17,041$2,025,644
77$3,274,999$290,764$0$2,150,639
78$3,537,065$233,028$0$2,294,191
79$3,823,594$170,195$0$2,453,632
80$4,137,010$101,943$0$2,628,198
81$4,479,981$27,936$0$2,819,453
82$4,855,448$0$0$3,029,127
83$5,266,645$0$0$3,276,932
84$5,717,136$0$0$3,558,919
85$6,210,846$0$0$3,868,022
86$6,752,097$0$0$4,206,956
87$7,345,649$0$0$4,578,710
88$7,996,747$0$0$4,986,575
89$8,711,164$0$0$5,434,180
90$9,495,263$0$0$5,925,517
91$10,356,049$0$0$6,464,988
92$11,301,243$0$0$7,057,440
93$12,339,346$0$0$7,708,213
94$13,479,724$0$0$8,423,187
95$14,732,697$0$0$9,208,845
96$16,109,632$0$0$10,072,324
97$17,623,051$0$0$11,021,489
98$19,286,751$0$0$12,065,006
99$21,115,932$0$0$13,212,420
100$23,127,341$0$0$14,474,249