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%12.1%
1 years$58,631$58,109$57,599$57,102$56,616$56,119
2 years$29,025$28,485$27,961$27,453$26,960$26,459
3 years$19,158$18,615$18,093$17,589$17,105$16,615
4 years$14,225$13,684$13,167$12,672$12,199$11,725
5 years$11,266$10,728$10,218$9,733$9,274$8,816
6 years$9,295$8,761$8,258$7,784$7,338$6,898
7 years$7,887$7,357$6,862$6,400$5,968$5,545
8 years$6,831$6,306$5,820$5,368$4,951$4,546
9 years$6,011$5,491$5,012$4,573$4,169$3,782
10 years$5,355$4,840$4,370$3,942$3,552$3,182
11 years$4,818$4,309$3,847$3,430$3,055$2,702
12 years$4,372$3,867$3,414$3,009$2,648$2,311
13 years$3,994$3,495$3,050$2,656$2,309$1,989
14 years$3,670$3,177$2,741$2,358$2,024$1,720
15 years$3,390$2,902$2,475$2,103$1,782$1,493
16 years$3,146$2,663$2,244$1,883$1,575$1,301
17 years$2,930$2,452$2,042$1,692$1,396$1,137
18 years$2,738$2,266$1,864$1,525$1,242$996
19 years$2,567$2,100$1,706$1,378$1,107$875
20 years$2,413$1,951$1,566$1,248$989$770
21 years$2,274$1,818$1,440$1,132$885$678
22 years$2,148$1,697$1,327$1,030$793$599
23 years$2,033$1,587$1,226$938$712$529
24 years$1,927$1,487$1,133$855$640$468
25 years$1,830$1,395$1,050$781$576$414
26 years$1,741$1,311$974$714$519$367
27 years$1,659$1,234$904$654$468$326
28 years$1,582$1,163$841$599$422$289
29 years$1,511$1,097$782$549$381$257
30 years$1,445$1,036$729$504$344$228
31 years$1,383$979$679$463$311$203
32 years$1,326$927$634$425$281$180
33 years$1,272$878$592$391$255$160
34 years$1,221$832$553$360$231$143
35 years$1,173$789$517$331$209$127
36 years$1,128$749$484$305$189$113
37 years$1,085$711$453$281$172$101
38 years$1,045$676$424$259$156$90
39 years$1,007$643$397$239$141$80
40 years$971$612$372$220$128$71
41 years$936$582$349$203$116$63
42 years$904$554$327$188$105$57
43 years$873$528$307$173$96$50
44 years$844$503$288$160$87$45
45 years$816$480$271$148$79$40
46 years$789$458$254$136$72$36
47 years$763$437$239$126$65$32
48 years$739$417$225$117$59$28
49 years$716$398$211$108$54$25
50 years$693$381$198$100$49$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $710,000, adding $2,770 every year, while hoping to spend $52,740 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: 78/11/11 Blend
54$710,000$710,000$710,000$710,000
55$785,277$747,647$736,642$844,756
56$809,261$728,167$705,205$864,776
57$833,923$705,965$670,947$879,675
58$859,277$680,851$633,717$894,500
59$885,336$652,626$593,360$909,221
60$912,114$621,078$549,711$923,808
61$939,622$585,983$502,599$938,224
62$967,872$547,105$451,844$952,433
63$996,874$504,192$397,260$966,394
64$1,026,638$456,980$338,651$980,062
65$1,057,172$405,190$275,813$993,389
66$1,088,485$348,525$208,534$1,006,324
67$1,120,580$286,673$136,590$1,018,809
68$1,153,464$219,304$59,750$1,030,786
69$1,187,136$146,069$0$1,042,186
70$1,221,598$66,601$0$1,055,552
71$1,256,847$0$0$1,075,848
72$1,292,876$0$0$1,098,360
73$1,329,677$0$0$1,129,585
74$1,367,236$0$0$1,161,449
75$1,405,538$0$0$1,193,938
76$1,444,560$0$0$1,227,032
77$1,484,275$0$0$1,260,708
78$1,524,651$0$0$1,294,937
79$1,565,648$0$0$1,329,686
80$1,607,219$0$0$1,364,912
81$1,649,310$0$0$1,400,569
82$1,691,856$0$0$1,436,601
83$1,734,783$0$0$1,472,943
84$1,778,005$0$0$1,509,521
85$1,821,422$0$0$1,546,250
86$1,864,924$0$0$1,583,031
87$1,908,380$0$0$1,619,755
88$1,951,646$0$0$1,656,296
89$1,994,556$0$0$1,692,510
90$2,036,924$0$0$1,728,237
91$2,078,540$0$0$1,763,296
92$2,119,167$0$0$1,797,482
93$2,158,539$0$0$1,830,566
94$2,196,358$0$0$1,862,292
95$2,232,291$0$0$1,892,372
96$2,265,964$0$0$1,920,484
97$2,296,960$0$0$1,946,269
98$2,324,814$0$0$1,969,325
99$2,349,006$0$0$1,989,206
100$2,368,958$0$0$2,005,414