Can I retire at age 55 with 707,000?

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 $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%17.5%
1 years$58,383$57,863$57,356$56,861$56,377$54,660
2 years$28,903$28,364$27,843$27,337$26,846$25,131
3 years$19,077$18,536$18,016$17,515$17,032$15,373
4 years$14,165$13,626$13,111$12,619$12,148$10,557
5 years$11,219$10,683$10,175$9,692$9,234$7,716
6 years$9,255$8,724$8,223$7,751$7,307$5,862
7 years$7,853$7,326$6,833$6,373$5,942$4,572
8 years$6,802$6,280$5,795$5,346$4,930$3,633
9 years$5,985$5,468$4,991$4,553$4,152$2,926
10 years$5,332$4,819$4,351$3,925$3,537$2,382
11 years$4,798$4,291$3,831$3,416$3,042$1,955
12 years$4,353$3,851$3,400$2,996$2,636$1,614
13 years$3,977$3,480$3,038$2,645$2,299$1,340
14 years$3,655$3,163$2,729$2,348$2,015$1,117
15 years$3,376$2,890$2,464$2,094$1,774$935
16 years$3,132$2,651$2,234$1,875$1,568$784
17 years$2,917$2,442$2,033$1,685$1,390$659
18 years$2,727$2,256$1,856$1,518$1,236$555
19 years$2,556$2,091$1,699$1,372$1,102$469
20 years$2,403$1,943$1,559$1,243$984$396
21 years$2,264$1,810$1,434$1,128$881$335
22 years$2,139$1,690$1,322$1,025$790$284
23 years$2,024$1,580$1,220$934$709$240
24 years$1,919$1,481$1,129$852$637$204
25 years$1,823$1,389$1,045$778$573$173
26 years$1,734$1,306$970$711$516$147
27 years$1,652$1,229$900$651$466$125
28 years$1,576$1,158$837$596$420$106
29 years$1,505$1,092$779$547$379$90
30 years$1,439$1,032$725$502$343$76
31 years$1,378$975$676$461$310$65
32 years$1,320$923$631$424$280$55
33 years$1,266$874$589$390$254$47
34 years$1,215$828$551$358$230$40
35 years$1,168$786$515$330$208$34
36 years$1,123$746$481$304$188$29
37 years$1,080$708$451$280$171$25
38 years$1,040$673$422$258$155$21
39 years$1,003$640$395$238$140$18
40 years$967$609$371$219$127$15
41 years$932$580$348$203$116$13
42 years$900$552$326$187$105$11
43 years$869$526$306$173$95$9
44 years$840$501$287$159$86$8
45 years$812$478$270$147$78$7
46 years$785$456$253$136$71$6
47 years$760$435$238$126$65$5
48 years$736$415$224$116$59$4
49 years$713$397$210$107$53$4
50 years$690$379$198$99$48$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $707,000, adding $6,938 every year, while hoping to spend $29,233 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: 67/27/6 Blend
54$707,000$707,000$707,000$707,000
55$786,271$748,800$737,841$837,773
56$835,366$754,387$731,455$878,407
57$888,490$759,269$723,875$918,625
58$946,022$763,379$715,031$961,803
59$1,008,380$766,648$704,848$1,008,226
60$1,076,023$769,002$693,249$1,058,206
61$1,149,456$770,362$680,151$1,112,091
62$1,229,236$770,644$665,471$1,170,261
63$1,315,972$769,760$649,119$1,233,136
64$1,410,339$767,616$631,002$1,301,182
65$1,513,075$764,111$611,023$1,374,909
66$1,624,996$759,139$589,078$1,454,884
67$1,746,996$752,587$565,063$1,541,728
68$1,880,061$744,336$538,865$1,636,130
69$2,025,279$734,260$510,368$1,738,847
70$2,183,842$722,223$479,450$1,850,717
71$2,357,065$708,084$445,983$1,972,661
72$2,546,398$691,692$409,836$2,105,699
73$2,753,433$672,888$370,868$2,250,954
74$2,979,926$651,502$328,934$2,409,664
75$3,227,809$627,356$283,884$2,583,196
76$3,499,210$600,260$235,559$2,773,059
77$3,796,472$570,016$183,792$2,980,915
78$4,122,175$536,409$128,412$3,208,600
79$4,479,161$499,218$69,239$3,458,136
80$4,870,561$458,205$6,084$3,731,757
81$5,299,821$413,120$0$4,031,925
82$5,770,739$363,699$0$4,365,280
83$6,287,495$309,661$0$4,731,564
84$6,854,697$250,712$0$5,133,705
85$7,477,419$186,539$0$5,575,360
86$8,161,249$116,814$0$6,060,563
87$8,912,347$41,187$0$6,593,762
88$9,737,494$0$0$7,179,862
89$10,644,162$0$0$7,836,362
90$11,640,584$0$0$8,571,347
91$12,735,829$0$0$9,379,274
92$13,939,888$0$0$10,267,520
93$15,263,768$0$0$11,244,211
94$16,719,598$0$0$12,318,301
95$18,320,738$0$0$13,499,653
96$20,081,911$0$0$14,799,138
97$22,019,335$0$0$16,228,730
98$24,150,883$0$0$17,801,622
99$26,496,244$0$0$19,532,353
100$29,077,114$0$0$21,436,940