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%16.4%
1 years$58,549$58,027$57,518$57,022$56,537$55,058
2 years$28,984$28,445$27,921$27,414$26,922$25,443
3 years$19,131$18,589$18,067$17,565$17,081$15,646
4 years$14,205$13,665$13,148$12,654$12,182$10,804
5 years$11,251$10,713$10,204$9,720$9,261$7,943
6 years$9,281$8,748$8,246$7,773$7,328$6,071
7 years$7,875$7,347$6,852$6,391$5,959$4,765
8 years$6,821$6,298$5,811$5,361$4,944$3,810
9 years$6,002$5,483$5,005$4,566$4,163$3,090
10 years$5,347$4,833$4,364$3,936$3,547$2,532
11 years$4,811$4,303$3,842$3,426$3,051$2,093
12 years$4,365$3,862$3,410$3,005$2,644$1,741
13 years$3,988$3,490$3,046$2,653$2,305$1,456
14 years$3,665$3,172$2,737$2,355$2,021$1,223
15 years$3,386$2,898$2,471$2,100$1,779$1,031
16 years$3,141$2,659$2,240$1,880$1,573$872
17 years$2,926$2,449$2,039$1,690$1,394$739
18 years$2,734$2,263$1,861$1,523$1,240$628
19 years$2,563$2,097$1,704$1,376$1,105$534
20 years$2,410$1,949$1,564$1,246$987$455
21 years$2,271$1,815$1,438$1,131$883$388
22 years$2,145$1,694$1,326$1,028$792$331
23 years$2,030$1,585$1,224$936$711$283
24 years$1,925$1,485$1,132$854$639$242
25 years$1,828$1,393$1,048$780$575$207
26 years$1,739$1,310$972$713$518$178
27 years$1,657$1,232$903$653$467$152
28 years$1,580$1,161$839$598$421$130
29 years$1,509$1,096$781$548$380$112
30 years$1,443$1,035$728$503$344$96
31 years$1,382$978$678$462$311$82
32 years$1,324$925$633$425$281$71
33 years$1,270$876$591$391$254$61
34 years$1,219$831$552$359$230$52
35 years$1,171$788$516$331$209$45
36 years$1,126$748$483$305$189$38
37 years$1,084$710$452$281$171$33
38 years$1,043$675$423$259$155$28
39 years$1,005$642$397$239$141$24
40 years$969$611$372$220$128$21
41 years$935$581$348$203$116$18
42 years$903$554$327$187$105$15
43 years$872$527$307$173$95$13
44 years$842$503$288$160$87$11
45 years$814$479$270$148$79$10
46 years$788$457$254$136$71$8
47 years$762$436$239$126$65$7
48 years$738$417$224$116$59$6
49 years$715$398$211$108$53$5
50 years$692$380$198$99$49$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $709,000, adding $2,962 every year, while hoping to spend $23,308 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: 45/35/20 Blend
54$709,000$709,000$709,000$709,000
55$784,373$746,796$735,807$815,035
56$839,580$758,590$735,657$848,654
57$899,636$770,180$734,721$882,552
58$965,013$781,532$732,947$918,830
59$1,036,226$792,610$730,283$957,719
60$1,113,846$803,373$726,673$999,476
61$1,198,499$813,778$722,057$1,044,384
62$1,290,875$823,782$716,374$1,092,754
63$1,391,731$833,335$709,560$1,144,934
64$1,501,905$842,385$701,547$1,201,303
65$1,622,314$850,877$692,265$1,262,283
66$1,753,973$858,753$681,638$1,328,340
67$1,897,996$865,950$669,591$1,399,987
68$2,055,611$872,400$656,041$1,477,793
69$2,228,169$878,033$640,904$1,562,383
70$2,417,159$882,774$624,091$1,654,449
71$2,624,219$886,540$605,508$1,754,756
72$2,851,156$889,247$585,059$1,864,148
73$3,099,957$890,803$562,642$1,983,556
74$3,372,813$891,113$538,151$2,114,009
75$3,672,135$890,072$511,474$2,256,641
76$4,000,579$887,572$482,494$2,412,707
77$4,361,072$883,497$451,092$2,583,590
78$4,756,837$877,724$417,139$2,770,817
79$5,191,424$870,122$380,503$2,976,073
80$5,668,745$860,554$341,046$3,201,219
81$6,193,109$848,873$298,622$3,448,307
82$6,769,261$834,923$253,082$3,719,605
83$7,402,431$818,540$204,265$4,017,610
84$8,098,380$799,549$152,009$4,345,083
85$8,863,454$777,766$96,140$4,705,068
86$9,704,645$752,995$36,480$5,100,922
87$10,629,657$725,030$0$5,536,352
88$11,646,977$693,651$0$6,021,247
89$12,765,956$658,628$0$6,563,001
90$13,996,897$619,714$0$7,158,840
91$15,351,151$576,651$0$7,814,297
92$16,841,227$529,165$0$8,535,475
93$18,480,904$476,967$0$9,329,099
94$20,285,368$419,749$0$10,202,588
95$22,271,348$357,190$0$11,164,119
96$24,457,280$288,946$0$12,222,709
97$26,863,476$214,658$0$13,388,296
98$29,512,317$133,943$0$14,671,841
99$32,428,467$46,400$0$16,085,425
100$35,639,100$0$0$17,642,366