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%19.2%
1 years$58,466$57,945$57,437$56,941$56,457$54,367
2 years$28,944$28,405$27,882$27,376$26,884$24,803
3 years$19,104$18,563$18,042$17,540$17,056$15,048
4 years$14,185$13,646$13,130$12,636$12,165$10,245
5 years$11,235$10,698$10,189$9,706$9,248$7,422
6 years$9,268$8,736$8,234$7,762$7,317$5,587
7 years$7,864$7,336$6,843$6,382$5,951$4,315
8 years$6,812$6,289$5,803$5,353$4,937$3,394
9 years$5,994$5,475$4,998$4,560$4,158$2,705
10 years$5,339$4,826$4,358$3,931$3,542$2,179
11 years$4,805$4,297$3,836$3,421$3,047$1,768
12 years$4,359$3,856$3,405$3,001$2,640$1,444
13 years$3,983$3,485$3,042$2,649$2,302$1,185
14 years$3,660$3,168$2,733$2,351$2,018$976
15 years$3,381$2,894$2,468$2,097$1,777$807
16 years$3,137$2,655$2,237$1,878$1,570$669
17 years$2,922$2,445$2,036$1,687$1,392$555
18 years$2,730$2,259$1,858$1,520$1,238$462
19 years$2,560$2,094$1,701$1,374$1,104$385
20 years$2,406$1,946$1,561$1,244$986$321
21 years$2,268$1,813$1,436$1,129$882$268
22 years$2,142$1,692$1,324$1,027$791$224
23 years$2,027$1,582$1,222$935$710$187
24 years$1,922$1,483$1,130$853$638$156
25 years$1,825$1,391$1,047$779$574$131
26 years$1,736$1,308$971$712$517$110
27 years$1,654$1,231$902$652$466$92
28 years$1,578$1,160$838$597$421$77
29 years$1,507$1,094$780$548$380$64
30 years$1,441$1,033$727$503$343$54
31 years$1,380$977$677$462$310$45
32 years$1,322$924$632$424$281$38
33 years$1,268$875$590$390$254$32
34 years$1,217$829$551$359$230$27
35 years$1,169$787$515$330$208$22
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$13
39 years$1,004$641$396$238$141$11
40 years$968$610$371$220$128$9
41 years$934$580$348$203$116$8
42 years$901$553$326$187$105$7
43 years$871$527$306$173$95$5
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 $2,336 every year, while hoping to spend $29,359 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: 82/6/12 Blend
54$708,000$708,000$708,000$708,000
55$782,626$745,102$734,128$844,937
56$831,216$750,374$727,483$891,401
57$883,778$754,920$719,632$938,300
58$940,687$758,675$710,503$988,921
59$1,002,353$761,566$700,021$1,043,622
60$1,069,229$763,519$688,108$1,102,797
61$1,141,813$764,454$674,682$1,166,882
62$1,220,651$764,286$659,658$1,236,353
63$1,306,346$762,924$642,944$1,311,739
64$1,399,559$760,273$624,448$1,393,620
65$1,501,018$756,231$604,072$1,482,636
66$1,611,526$750,690$581,712$1,579,491
67$1,731,963$743,535$557,261$1,684,962
68$1,863,302$734,646$530,607$1,799,905
69$2,006,609$723,894$501,633$1,925,262
70$2,163,060$711,143$470,215$2,062,072
71$2,333,951$696,247$436,226$2,211,481
72$2,520,706$679,055$399,531$2,374,749
73$2,724,893$659,404$359,991$2,553,266
74$2,948,241$637,124$317,459$2,748,566
75$3,192,650$612,031$271,783$2,962,336
76$3,460,215$583,936$222,803$3,196,436
77$3,753,242$552,634$170,352$3,452,918
78$4,074,271$517,911$114,256$3,734,041
79$4,426,098$479,540$54,335$4,042,296
80$4,811,803$437,280$0$4,380,427
81$5,234,779$390,879$0$4,752,690
82$5,698,761$340,067$0$5,168,694
83$6,207,866$284,562$0$5,625,174
84$6,766,626$224,063$0$6,126,209
85$7,380,035$158,255$0$6,676,289
86$8,053,593$86,804$0$7,280,365
87$8,793,359$9,357$0$7,943,889
88$9,606,007$0$0$8,672,869
89$10,498,891$0$0$9,478,841
90$11,480,111$0$0$10,365,247
91$12,558,590$0$0$11,339,532
92$13,744,161$0$0$12,410,581
93$15,047,655$0$0$13,588,180
94$16,481,006$0$0$14,883,114
95$18,057,360$0$0$16,307,263
96$19,791,205$0$0$17,873,717
97$21,698,499$0$0$19,596,896
98$23,796,828$0$0$21,492,692
99$26,105,567$0$0$23,578,612
100$28,646,063$0$0$25,873,946