Can I retire at age 55 with 710,000?

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 $710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$58,631$58,109$57,599$57,102$56,616$55,158
2 years$29,025$28,485$27,961$27,453$26,960$25,501
3 years$19,158$18,615$18,093$17,589$17,105$15,690
4 years$14,225$13,684$13,167$12,672$12,199$10,840
5 years$11,266$10,728$10,218$9,733$9,274$7,973
6 years$9,295$8,761$8,258$7,784$7,338$6,098
7 years$7,887$7,357$6,862$6,400$5,968$4,788
8 years$6,831$6,306$5,820$5,368$4,951$3,831
9 years$6,011$5,491$5,012$4,573$4,169$3,108
10 years$5,355$4,840$4,370$3,942$3,552$2,549
11 years$4,818$4,309$3,847$3,430$3,055$2,108
12 years$4,372$3,867$3,414$3,009$2,648$1,755
13 years$3,994$3,495$3,050$2,656$2,309$1,469
14 years$3,670$3,177$2,741$2,358$2,024$1,235
15 years$3,390$2,902$2,475$2,103$1,782$1,042
16 years$3,146$2,663$2,244$1,883$1,575$881
17 years$2,930$2,452$2,042$1,692$1,396$748
18 years$2,738$2,266$1,864$1,525$1,242$635
19 years$2,567$2,100$1,706$1,378$1,107$541
20 years$2,413$1,951$1,566$1,248$989$461
21 years$2,274$1,818$1,440$1,132$885$394
22 years$2,148$1,697$1,327$1,030$793$337
23 years$2,033$1,587$1,226$938$712$288
24 years$1,927$1,487$1,133$855$640$246
25 years$1,830$1,395$1,050$781$576$211
26 years$1,741$1,311$974$714$519$181
27 years$1,659$1,234$904$654$468$155
28 years$1,582$1,163$841$599$422$133
29 years$1,511$1,097$782$549$381$114
30 years$1,445$1,036$729$504$344$98
31 years$1,383$979$679$463$311$84
32 years$1,326$927$634$425$281$72
33 years$1,272$878$592$391$255$62
34 years$1,221$832$553$360$231$53
35 years$1,173$789$517$331$209$46
36 years$1,128$749$484$305$189$39
37 years$1,085$711$453$281$172$34
38 years$1,045$676$424$259$156$29
39 years$1,007$643$397$239$141$25
40 years$971$612$372$220$128$21
41 years$936$582$349$203$116$18
42 years$904$554$327$188$105$16
43 years$873$528$307$173$96$14
44 years$844$503$288$160$87$12
45 years$816$480$271$148$79$10
46 years$789$458$254$136$72$9
47 years$763$437$239$126$65$7
48 years$739$417$225$117$59$6
49 years$716$398$211$108$54$6
50 years$693$381$198$100$49$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $710,000, adding $5,811 every year, while hoping to spend $37,215 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: 57/13/30 Blend
54$710,000$710,000$710,000$710,000
55$788,414$750,784$739,779$826,540
56$829,236$747,976$724,965$850,605
57$872,974$743,783$708,408$872,467
58$919,887$738,098$690,009$895,551
59$970,258$730,807$669,667$919,989
60$1,024,398$721,791$647,274$945,926
61$1,082,648$710,920$622,720$973,525
62$1,145,384$698,060$595,886$1,002,966
63$1,213,015$683,068$566,651$1,034,452
64$1,285,996$665,791$534,887$1,068,205
65$1,364,822$646,069$500,460$1,104,474
66$1,450,040$623,732$463,231$1,143,537
67$1,542,248$598,600$423,054$1,185,699
68$1,642,108$570,482$379,776$1,231,303
69$1,750,344$539,176$333,240$1,280,728
70$1,867,753$504,470$283,277$1,334,392
71$1,995,212$466,137$229,716$1,392,764
72$2,133,686$423,941$172,374$1,456,360
73$2,284,236$377,627$111,062$1,525,754
74$2,448,029$326,932$45,583$1,601,581
75$2,626,348$271,572$0$1,684,546
76$2,820,608$211,252$0$1,783,207
77$3,032,363$145,656$0$1,906,727
78$3,263,325$74,454$0$2,041,530
79$3,515,377$0$0$2,188,751
80$3,790,593$0$0$2,350,028
81$4,091,256$0$0$2,537,910
82$4,419,878$0$0$2,743,323
83$4,779,225$0$0$2,968,005
84$5,172,345$0$0$3,213,867
85$5,602,590$0$0$3,483,016
86$6,073,654$0$0$3,777,770
87$6,589,604$0$0$4,100,683
88$7,154,919$0$0$4,454,567
89$7,774,531$0$0$4,842,519
90$8,453,873$0$0$5,267,950
91$9,198,927$0$0$5,734,617
92$10,016,283$0$0$6,246,658
93$10,913,201$0$0$6,808,631
94$11,897,674$0$0$7,425,557
95$12,978,511$0$0$8,102,966
96$14,165,412$0$0$8,846,951
97$15,469,064$0$0$9,664,224
98$16,901,241$0$0$10,562,177
99$18,474,911$0$0$11,548,956
100$20,204,362$0$0$12,633,533