Can I retire at age 55 with 711,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $711,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$58,714$58,191$57,680$57,182$56,696$54,533
2 years$29,066$28,525$28,000$27,492$26,998$24,844
3 years$19,185$18,641$18,118$17,614$17,129$15,052
4 years$14,245$13,703$13,185$12,690$12,216$10,232
5 years$11,282$10,744$10,232$9,747$9,287$7,401
6 years$9,308$8,773$8,269$7,795$7,348$5,561
7 years$7,898$7,368$6,872$6,409$5,976$4,288
8 years$6,841$6,315$5,828$5,376$4,958$3,367
9 years$6,019$5,499$5,019$4,579$4,175$2,679
10 years$5,362$4,847$4,376$3,947$3,557$2,153
11 years$4,825$4,315$3,853$3,435$3,060$1,744
12 years$4,378$3,873$3,419$3,013$2,651$1,422
13 years$3,999$3,500$3,055$2,660$2,312$1,164
14 years$3,676$3,181$2,745$2,361$2,027$957
15 years$3,395$2,906$2,478$2,106$1,784$789
16 years$3,150$2,666$2,247$1,886$1,577$653
17 years$2,934$2,456$2,044$1,694$1,398$541
18 years$2,742$2,269$1,866$1,527$1,243$449
19 years$2,571$2,103$1,709$1,380$1,108$373
20 years$2,416$1,954$1,568$1,250$990$310
21 years$2,277$1,820$1,442$1,134$886$258
22 years$2,151$1,699$1,329$1,031$794$215
23 years$2,035$1,589$1,227$939$713$180
24 years$1,930$1,489$1,135$856$641$150
25 years$1,833$1,397$1,051$782$576$125
26 years$1,744$1,313$975$715$519$105
27 years$1,661$1,236$905$655$468$87
28 years$1,585$1,165$842$600$422$73
29 years$1,514$1,099$783$550$381$61
30 years$1,447$1,038$730$505$345$51
31 years$1,385$981$680$464$312$43
32 years$1,328$928$635$426$282$36
33 years$1,273$879$593$392$255$30
34 years$1,222$833$554$360$231$25
35 years$1,174$790$518$332$209$21
36 years$1,129$750$484$306$190$17
37 years$1,087$712$453$282$172$15
38 years$1,046$677$424$260$156$12
39 years$1,008$644$398$239$141$10
40 years$972$612$373$221$128$9
41 years$938$583$349$204$116$7
42 years$905$555$328$188$105$6
43 years$874$529$308$173$96$5
44 years$845$504$289$160$87$4
45 years$817$481$271$148$79$4
46 years$790$459$255$137$72$3
47 years$764$438$239$126$65$2
48 years$740$418$225$117$59$2
49 years$717$399$211$108$54$2
50 years$694$381$199$100$49$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $711,000, adding $5,525 every year, while hoping to spend $26,895 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: 80/12/8 Blend
54$711,000$711,000$711,000$711,000
55$789,221$751,538$740,518$851,093
56$841,106$759,747$736,709$900,647
57$897,381$767,457$731,871$950,911
58$958,466$774,616$725,941$1,005,259
59$1,024,824$781,165$718,854$1,064,084
60$1,096,960$787,047$710,540$1,127,822
61$1,175,434$792,196$700,927$1,196,949
62$1,260,859$796,545$689,939$1,271,994
63$1,353,912$800,021$677,498$1,353,537
64$1,455,337$802,548$663,520$1,442,216
65$1,565,952$804,043$647,918$1,538,736
66$1,686,657$804,419$630,602$1,643,874
67$1,818,446$803,586$611,476$1,758,483
68$1,962,409$801,443$590,442$1,883,506
69$2,119,748$797,887$567,396$2,019,982
70$2,291,787$792,808$542,228$2,169,053
71$2,479,983$786,089$514,826$2,331,980
72$2,685,939$777,605$485,071$2,510,152
73$2,911,422$767,225$452,838$2,705,100
74$3,158,377$754,810$417,998$2,918,510
75$3,428,946$740,210$380,416$3,152,240
76$3,725,489$723,270$339,949$3,408,340
77$4,050,602$703,824$296,451$3,689,067
78$4,407,148$681,696$249,767$3,996,909
79$4,798,279$656,701$199,736$4,334,608
80$5,227,465$628,641$146,189$4,705,185
81$5,698,531$597,309$88,951$5,111,971
82$6,215,688$562,484$27,838$5,558,636
83$6,783,577$523,934$0$6,049,227
84$7,407,307$481,412$0$6,591,392
85$8,092,510$434,659$0$7,189,598
86$8,845,388$383,399$0$7,846,899
87$9,672,773$327,341$0$8,569,282
88$10,582,195$266,180$0$9,363,347
89$11,581,945$199,589$0$10,236,363
90$12,681,162$127,227$0$11,196,342
91$13,889,911$48,732$0$12,252,114
92$15,219,284$0$0$13,413,408
93$16,681,500$0$0$14,695,736
94$18,290,022$0$0$16,113,473
95$20,059,684$0$0$17,673,260
96$22,006,830$0$0$19,389,506
97$24,149,468$0$0$21,278,087
98$26,507,441$0$0$23,356,495
99$29,102,610$0$0$25,644,004
100$31,959,067$0$0$28,161,851