Can I retire at age 55 with 709,000?

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 $709,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$58,549$58,027$57,518$57,022$56,537$56,016
2 years$28,984$28,445$27,921$27,414$26,922$26,398
3 years$19,131$18,589$18,067$17,565$17,081$16,569
4 years$14,205$13,665$13,148$12,654$12,182$11,686
5 years$11,251$10,713$10,204$9,720$9,261$8,783
6 years$9,281$8,748$8,246$7,773$7,328$6,868
7 years$7,875$7,347$6,852$6,391$5,959$5,518
8 years$6,821$6,298$5,811$5,361$4,944$4,521
9 years$6,002$5,483$5,005$4,566$4,163$3,759
10 years$5,347$4,833$4,364$3,936$3,547$3,161
11 years$4,811$4,303$3,842$3,426$3,051$2,683
12 years$4,365$3,862$3,410$3,005$2,644$2,293
13 years$3,988$3,490$3,046$2,653$2,305$1,972
14 years$3,665$3,172$2,737$2,355$2,021$1,704
15 years$3,386$2,898$2,471$2,100$1,779$1,479
16 years$3,141$2,659$2,240$1,880$1,573$1,288
17 years$2,926$2,449$2,039$1,690$1,394$1,124
18 years$2,734$2,263$1,861$1,523$1,240$985
19 years$2,563$2,097$1,704$1,376$1,105$864
20 years$2,410$1,949$1,564$1,246$987$760
21 years$2,271$1,815$1,438$1,131$883$669
22 years$2,145$1,694$1,326$1,028$792$590
23 years$2,030$1,585$1,224$936$711$521
24 years$1,925$1,485$1,132$854$639$460
25 years$1,828$1,393$1,048$780$575$407
26 years$1,739$1,310$972$713$518$361
27 years$1,657$1,232$903$653$467$320
28 years$1,580$1,161$839$598$421$283
29 years$1,509$1,096$781$548$380$252
30 years$1,443$1,035$728$503$344$223
31 years$1,382$978$678$462$311$198
32 years$1,324$925$633$425$281$176
33 years$1,270$876$591$391$254$157
34 years$1,219$831$552$359$230$139
35 years$1,171$788$516$331$209$124
36 years$1,126$748$483$305$189$110
37 years$1,084$710$452$281$171$98
38 years$1,043$675$423$259$155$87
39 years$1,005$642$397$239$141$78
40 years$969$611$372$220$128$69
41 years$935$581$348$203$116$61
42 years$903$554$327$187$105$55
43 years$872$527$307$173$95$49
44 years$842$503$288$160$87$43
45 years$814$479$270$148$79$39
46 years$788$457$254$136$71$34
47 years$762$436$239$126$65$31
48 years$738$417$224$116$59$27
49 years$715$398$211$108$53$24
50 years$692$380$198$99$49$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $709,000, adding $6,319 every year, while hoping to spend $35,854 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: 70/6/24 Blend
54$709,000$709,000$709,000$709,000
55$787,836$750,259$739,270$837,789
56$830,047$748,873$725,887$870,624
57$875,362$746,218$710,854$901,783
58$924,059$742,193$694,078$935,036
59$976,445$736,693$675,461$970,588
60$1,032,855$729,603$654,902$1,008,665
61$1,093,659$720,807$632,294$1,049,520
62$1,159,262$710,176$607,525$1,093,429
63$1,230,108$697,576$580,479$1,140,698
64$1,306,688$682,866$551,034$1,191,665
65$1,389,539$665,895$519,063$1,246,705
66$1,479,252$646,505$484,432$1,306,230
67$1,576,478$624,525$447,002$1,370,697
68$1,681,930$599,778$406,628$1,440,610
69$1,796,395$572,075$363,158$1,516,526
70$1,920,736$541,216$316,433$1,599,060
71$2,055,906$506,990$266,288$1,688,890
72$2,202,949$469,174$212,549$1,786,768
73$2,363,017$427,530$155,037$1,893,520
74$2,537,376$381,811$93,562$2,010,063
75$2,727,420$331,751$27,927$2,137,404
76$2,934,682$277,071$0$2,276,661
77$3,160,850$217,478$0$2,439,846
78$3,407,782$152,660$0$2,625,869
79$3,677,524$82,289$0$2,829,125
80$3,972,328$6,017$0$3,051,329
81$4,294,671$0$0$3,294,371
82$4,647,285$0$0$3,565,383
83$5,033,174$0$0$3,862,443
84$5,455,647$0$0$4,187,704
85$5,918,349$0$0$4,543,977
86$6,425,292$0$0$4,934,358
87$6,980,897$0$0$5,362,255
88$7,590,030$0$0$5,831,422
89$8,258,053$0$0$6,345,994
90$8,990,870$0$0$6,910,525
91$9,794,986$0$0$7,530,031
92$10,677,563$0$0$8,210,038
93$11,646,493$0$0$8,956,631
94$12,710,468$0$0$9,776,516
95$13,879,064$0$0$10,677,078
96$15,162,828$0$0$11,666,453
97$16,573,381$0$0$12,753,604
98$18,123,525$0$0$13,948,406
99$19,827,363$0$0$15,261,736
100$21,700,433$0$0$16,705,579