Can I retire at age 55 with 711,000?

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 $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%18.1%
1 years$58,714$58,191$57,680$57,182$56,696$54,837
2 years$29,066$28,525$28,000$27,492$26,998$25,143
3 years$19,185$18,641$18,118$17,614$17,129$15,336
4 years$14,245$13,703$13,185$12,690$12,216$10,499
5 years$11,282$10,744$10,232$9,747$9,287$7,650
6 years$9,308$8,773$8,269$7,795$7,348$5,793
7 years$7,898$7,368$6,872$6,409$5,976$4,503
8 years$6,841$6,315$5,828$5,376$4,958$3,565
9 years$6,019$5,499$5,019$4,579$4,175$2,861
10 years$5,362$4,847$4,376$3,947$3,557$2,320
11 years$4,825$4,315$3,853$3,435$3,060$1,896
12 years$4,378$3,873$3,419$3,013$2,651$1,560
13 years$3,999$3,500$3,055$2,660$2,312$1,290
14 years$3,676$3,181$2,745$2,361$2,027$1,071
15 years$3,395$2,906$2,478$2,106$1,784$892
16 years$3,150$2,666$2,247$1,886$1,577$745
17 years$2,934$2,456$2,044$1,694$1,398$624
18 years$2,742$2,269$1,866$1,527$1,243$523
19 years$2,571$2,103$1,709$1,380$1,108$439
20 years$2,416$1,954$1,568$1,250$990$370
21 years$2,277$1,820$1,442$1,134$886$311
22 years$2,151$1,699$1,329$1,031$794$262
23 years$2,035$1,589$1,227$939$713$221
24 years$1,930$1,489$1,135$856$641$187
25 years$1,833$1,397$1,051$782$576$158
26 years$1,744$1,313$975$715$519$133
27 years$1,661$1,236$905$655$468$112
28 years$1,585$1,165$842$600$422$95
29 years$1,514$1,099$783$550$381$80
30 years$1,447$1,038$730$505$345$68
31 years$1,385$981$680$464$312$57
32 years$1,328$928$635$426$282$49
33 years$1,273$879$593$392$255$41
34 years$1,222$833$554$360$231$35
35 years$1,174$790$518$332$209$29
36 years$1,129$750$484$306$190$25
37 years$1,087$712$453$282$172$21
38 years$1,046$677$424$260$156$18
39 years$1,008$644$398$239$141$15
40 years$972$612$373$221$128$13
41 years$938$583$349$204$116$11
42 years$905$555$328$188$105$9
43 years$874$529$308$173$96$8
44 years$845$504$289$160$87$7
45 years$817$481$271$148$79$6
46 years$790$459$255$137$72$5
47 years$764$438$239$126$65$4
48 years$740$418$225$117$59$3
49 years$717$399$211$108$54$3
50 years$694$381$199$100$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $711,000, adding $3,899 every year, while hoping to spend $43,987 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: 68/6/26 Blend
54$711,000$711,000$711,000$711,000
55$787,544$749,861$738,840$835,558
56$821,071$739,802$716,790$858,241
57$856,545$727,776$692,526$877,666
58$894,115$713,641$665,929$897,907
59$933,950$697,244$636,872$919,044
60$976,229$678,425$605,224$941,169
61$1,021,152$657,016$570,847$964,383
62$1,068,936$632,836$533,596$988,798
63$1,119,818$605,695$493,322$1,014,540
64$1,174,058$575,392$449,867$1,041,750
65$1,231,941$541,716$403,066$1,070,583
66$1,293,779$504,440$352,749$1,101,213
67$1,359,914$463,328$298,736$1,133,834
68$1,430,722$418,127$240,840$1,168,660
69$1,506,613$368,572$178,866$1,205,931
70$1,588,038$314,384$112,609$1,245,912
71$1,675,493$255,263$41,856$1,288,898
72$1,769,521$190,899$0$1,335,219
73$1,870,719$120,959$0$1,394,571
74$1,979,740$45,094$0$1,471,024
75$2,097,306$0$0$1,553,468
76$2,224,205$0$0$1,644,918
77$2,361,307$0$0$1,746,970
78$2,509,566$0$0$1,857,360
79$2,670,030$0$0$1,976,875
80$2,843,853$0$0$2,106,377
81$3,032,303$0$0$2,246,816
82$3,236,773$0$0$2,399,235
83$3,458,798$0$0$2,564,784
84$3,700,062$0$0$2,744,724
85$3,962,423$0$0$2,940,446
86$4,247,921$0$0$3,153,478
87$4,558,801$0$0$3,385,503
88$4,897,535$0$0$3,638,370
89$5,266,842$0$0$3,914,117
90$5,669,717$0$0$4,214,987
91$6,109,453$0$0$4,543,447
92$6,589,676$0$0$4,902,213
93$7,114,380$0$0$5,294,277
94$7,687,959$0$0$5,722,930
95$8,315,253$0$0$6,191,798
96$9,001,589$0$0$6,704,872
97$9,752,834$0$0$7,266,547
98$10,575,447$0$0$7,881,663
99$11,476,544$0$0$8,555,550
100$12,463,959$0$0$9,294,077