Can I retire at age 55 with 708,000?

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 $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%12%
1 years$58,466$57,945$57,437$56,941$56,457$55,984
2 years$28,944$28,405$27,882$27,376$26,884$26,407
3 years$19,104$18,563$18,042$17,540$17,056$16,591
4 years$14,185$13,646$13,130$12,636$12,165$11,714
5 years$11,235$10,698$10,189$9,706$9,248$8,812
6 years$9,268$8,736$8,234$7,762$7,317$6,899
7 years$7,864$7,336$6,843$6,382$5,951$5,549
8 years$6,812$6,289$5,803$5,353$4,937$4,552
9 years$5,994$5,475$4,998$4,560$4,158$3,789
10 years$5,339$4,826$4,358$3,931$3,542$3,190
11 years$4,805$4,297$3,836$3,421$3,047$2,710
12 years$4,359$3,856$3,405$3,001$2,640$2,320
13 years$3,983$3,485$3,042$2,649$2,302$1,997
14 years$3,660$3,168$2,733$2,351$2,018$1,728
15 years$3,381$2,894$2,468$2,097$1,777$1,502
16 years$3,137$2,655$2,237$1,878$1,570$1,309
17 years$2,922$2,445$2,036$1,687$1,392$1,145
18 years$2,730$2,259$1,858$1,520$1,238$1,004
19 years$2,560$2,094$1,701$1,374$1,104$882
20 years$2,406$1,946$1,561$1,244$986$777
21 years$2,268$1,813$1,436$1,129$882$685
22 years$2,142$1,692$1,324$1,027$791$605
23 years$2,027$1,582$1,222$935$710$535
24 years$1,922$1,483$1,130$853$638$474
25 years$1,825$1,391$1,047$779$574$420
26 years$1,736$1,308$971$712$517$372
27 years$1,654$1,231$902$652$466$331
28 years$1,578$1,160$838$597$421$294
29 years$1,507$1,094$780$548$380$261
30 years$1,441$1,033$727$503$343$232
31 years$1,380$977$677$462$310$206
32 years$1,322$924$632$424$281$184
33 years$1,268$875$590$390$254$163
34 years$1,217$829$551$359$230$146
35 years$1,169$787$515$330$208$130
36 years$1,124$747$482$304$189$116
37 years$1,082$709$451$280$171$103
38 years$1,042$674$423$258$155$92
39 years$1,004$641$396$238$141$82
40 years$968$610$371$220$128$73
41 years$934$580$348$203$116$65
42 years$901$553$326$187$105$58
43 years$871$527$306$173$95$52
44 years$841$502$288$160$87$46
45 years$813$479$270$147$79$41
46 years$787$457$254$136$71$37
47 years$761$436$238$126$65$33
48 years$737$416$224$116$59$29
49 years$714$397$210$107$53$26
50 years$691$380$198$99$49$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $708,000, adding $4,597 every year, while hoping to spend $51,692 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: 39/34/27 Blend
54$708,000$708,000$708,000$708,000
55$784,958$747,434$736,460$809,134
56$810,024$729,058$706,131$808,802
57$835,914$708,050$673,054$803,320
58$862,657$684,225$637,082$796,395
59$890,286$657,389$598,062$787,930
60$918,830$627,337$555,832$777,820
61$948,326$593,851$510,227$765,956
62$978,806$556,701$461,071$752,222
63$1,010,309$515,643$408,182$736,496
64$1,042,872$470,422$351,368$718,650
65$1,076,537$420,764$290,430$698,548
66$1,111,345$366,383$225,161$676,049
67$1,147,341$306,974$155,342$651,003
68$1,184,571$242,218$80,748$623,252
69$1,223,086$171,775$1,141$592,632
70$1,262,936$95,287$0$558,967
71$1,304,177$12,377$0$546,220
72$1,346,865$0$0$531,974
73$1,391,062$0$0$544,715
74$1,436,831$0$0$562,712
75$1,484,242$0$0$581,362
76$1,533,365$0$0$600,693
77$1,584,277$0$0$620,737
78$1,637,059$0$0$641,527
79$1,691,797$0$0$663,098
80$1,748,583$0$0$685,488
81$1,807,514$0$0$708,735
82$1,868,695$0$0$732,884
83$1,932,235$0$0$757,980
84$1,998,254$0$0$784,071
85$2,066,878$0$0$811,210
86$2,138,243$0$0$839,453
87$2,212,495$0$0$868,860
88$2,289,789$0$0$899,496
89$2,370,292$0$0$931,429
90$2,454,186$0$0$964,736
91$2,541,664$0$0$999,497
92$2,632,935$0$0$1,035,798
93$2,728,225$0$0$1,073,734
94$2,827,776$0$0$1,113,407
95$2,931,851$0$0$1,154,926
96$3,040,735$0$0$1,198,411
97$3,154,734$0$0$1,243,990
98$3,274,183$0$0$1,291,803
99$3,399,441$0$0$1,342,002
100$3,530,902$0$0$1,394,753