Can I retire at age 55 with 708,000?

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 $708,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$58,466$57,945$57,437$56,941$56,457$54,389
2 years$28,944$28,405$27,882$27,376$26,884$24,824
3 years$19,104$18,563$18,042$17,540$17,056$15,068
4 years$14,185$13,646$13,130$12,636$12,165$10,264
5 years$11,235$10,698$10,189$9,706$9,248$7,439
6 years$9,268$8,736$8,234$7,762$7,317$5,603
7 years$7,864$7,336$6,843$6,382$5,951$4,330
8 years$6,812$6,289$5,803$5,353$4,937$3,408
9 years$5,994$5,475$4,998$4,560$4,158$2,718
10 years$5,339$4,826$4,358$3,931$3,542$2,190
11 years$4,805$4,297$3,836$3,421$3,047$1,779
12 years$4,359$3,856$3,405$3,001$2,640$1,454
13 years$3,983$3,485$3,042$2,649$2,302$1,194
14 years$3,660$3,168$2,733$2,351$2,018$984
15 years$3,381$2,894$2,468$2,097$1,777$814
16 years$3,137$2,655$2,237$1,878$1,570$675
17 years$2,922$2,445$2,036$1,687$1,392$561
18 years$2,730$2,259$1,858$1,520$1,238$467
19 years$2,560$2,094$1,701$1,374$1,104$389
20 years$2,406$1,946$1,561$1,244$986$325
21 years$2,268$1,813$1,436$1,129$882$271
22 years$2,142$1,692$1,324$1,027$791$227
23 years$2,027$1,582$1,222$935$710$190
24 years$1,922$1,483$1,130$853$638$159
25 years$1,825$1,391$1,047$779$574$133
26 years$1,736$1,308$971$712$517$112
27 years$1,654$1,231$902$652$466$94
28 years$1,578$1,160$838$597$421$78
29 years$1,507$1,094$780$548$380$66
30 years$1,441$1,033$727$503$343$55
31 years$1,380$977$677$462$310$46
32 years$1,322$924$632$424$281$39
33 years$1,268$875$590$390$254$33
34 years$1,217$829$551$359$230$27
35 years$1,169$787$515$330$208$23
36 years$1,124$747$482$304$189$19
37 years$1,082$709$451$280$171$16
38 years$1,042$674$423$258$155$14
39 years$1,004$641$396$238$141$11
40 years$968$610$371$220$128$10
41 years$934$580$348$203$116$8
42 years$901$553$326$187$105$7
43 years$871$527$306$173$95$6
44 years$841$502$288$160$87$5
45 years$813$479$270$147$79$4
46 years$787$457$254$136$71$3
47 years$761$436$238$126$65$3
48 years$737$416$224$116$59$2
49 years$714$397$210$107$53$2
50 years$691$380$198$99$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $708,000, adding $6,099 every year, while hoping to spend $20,101 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: 57/22/21 Blend
54$708,000$708,000$708,000$708,000
55$786,507$748,983$738,009$826,583
56$845,344$764,296$741,345$869,901
57$909,508$779,685$744,119$914,409
58$979,521$795,134$746,291$962,477
59$1,055,960$810,623$747,819$1,014,452
60$1,139,456$826,131$748,659$1,070,717
61$1,230,705$841,637$748,764$1,131,693
62$1,330,476$857,116$748,086$1,197,848
63$1,439,611$872,541$746,574$1,269,694
64$1,559,041$887,886$744,174$1,347,796
65$1,689,790$903,119$740,831$1,432,780
66$1,832,985$918,207$736,485$1,525,333
67$1,989,866$933,117$731,074$1,626,213
68$2,161,802$947,809$724,535$1,736,256
69$2,350,298$962,244$716,799$1,856,385
70$2,557,013$976,378$707,795$1,987,615
71$2,783,772$990,164$697,451$2,131,067
72$3,032,588$1,003,554$685,686$2,287,976
73$3,305,677$1,016,492$672,421$2,459,705
74$3,605,479$1,028,924$657,571$2,647,755
75$3,934,683$1,040,787$641,045$2,853,782
76$4,296,252$1,052,017$622,751$3,079,612
77$4,693,449$1,062,544$602,592$3,327,256
78$5,129,867$1,072,295$580,466$3,598,934
79$5,609,467$1,081,191$556,265$3,897,092
80$6,136,612$1,089,148$529,878$4,224,427
81$6,716,107$1,096,077$501,190$4,583,911
82$7,353,247$1,101,883$470,077$4,978,823
83$8,053,867$1,106,464$436,414$5,412,776
84$8,824,394$1,109,713$400,066$5,889,754
85$9,671,909$1,111,516$360,895$6,414,149
86$10,604,214$1,111,751$318,756$6,990,801
87$11,629,907$1,110,289$273,497$7,625,049
88$12,758,458$1,106,994$224,960$8,322,776
89$14,000,304$1,101,719$172,979$9,090,469
90$15,366,943$1,094,312$117,382$9,935,276
91$16,871,046$1,084,608$57,988$10,865,080
92$18,526,572$1,072,433$0$11,888,569
93$20,348,904$1,057,604$0$13,016,529
94$22,354,992$1,039,927$0$14,272,254
95$24,563,512$1,019,193$0$15,654,420
96$26,995,042$995,186$0$17,175,902
97$29,672,259$967,673$0$18,850,891
98$32,620,150$936,409$0$20,695,025
99$35,866,247$901,135$0$22,725,538
100$39,440,889$861,576$0$24,961,424