Can I retire at age 55 with 712,000?

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 $712,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$58,796$58,273$57,762$57,263$56,776$55,403
2 years$29,107$28,565$28,040$27,530$27,036$25,662
3 years$19,212$18,668$18,143$17,639$17,153$15,819
4 years$14,265$13,723$13,204$12,708$12,234$10,951
5 years$11,298$10,759$10,247$9,761$9,300$8,072
6 years$9,321$8,785$8,281$7,806$7,359$6,187
7 years$7,909$7,378$6,881$6,418$5,984$4,869
8 years$6,850$6,324$5,836$5,384$4,965$3,905
9 years$6,028$5,506$5,027$4,586$4,181$3,176
10 years$5,370$4,854$4,382$3,953$3,562$2,611
11 years$4,832$4,321$3,858$3,440$3,064$2,165
12 years$4,384$3,878$3,424$3,017$2,655$1,807
13 years$4,005$3,505$3,059$2,664$2,315$1,516
14 years$3,681$3,186$2,749$2,365$2,030$1,278
15 years$3,400$2,910$2,482$2,109$1,787$1,081
16 years$3,154$2,670$2,250$1,888$1,579$918
17 years$2,938$2,459$2,047$1,697$1,400$781
18 years$2,746$2,272$1,869$1,529$1,245$665
19 years$2,574$2,106$1,711$1,382$1,110$568
20 years$2,420$1,957$1,570$1,251$991$486
21 years$2,280$1,823$1,444$1,136$887$416
22 years$2,154$1,701$1,331$1,033$795$357
23 years$2,038$1,591$1,229$940$714$306
24 years$1,933$1,491$1,137$858$642$263
25 years$1,836$1,399$1,053$783$577$226
26 years$1,746$1,315$976$716$520$194
27 years$1,664$1,238$907$656$469$167
28 years$1,587$1,166$843$601$423$144
29 years$1,516$1,100$784$551$382$124
30 years$1,449$1,039$731$505$345$107
31 years$1,387$982$681$464$312$92
32 years$1,329$929$636$427$282$79
33 years$1,275$880$593$392$255$68
34 years$1,224$834$554$361$231$59
35 years$1,176$791$518$332$209$51
36 years$1,131$751$485$306$190$44
37 years$1,088$713$454$282$172$38
38 years$1,048$678$425$260$156$32
39 years$1,010$645$398$240$141$28
40 years$973$613$373$221$128$24
41 years$939$584$350$204$116$21
42 years$906$556$328$188$106$18
43 years$875$530$308$174$96$15
44 years$846$505$289$160$87$13
45 years$818$481$272$148$79$12
46 years$791$459$255$137$72$10
47 years$765$438$240$126$65$9
48 years$741$418$225$117$59$7
49 years$718$400$212$108$54$6
50 years$695$382$199$100$49$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $712,000, adding $3,717 every year, while hoping to spend $39,210 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: 66/14/20 Blend
54$712,000$712,000$712,000$712,000
55$788,458$750,722$739,686$836,295
56$827,162$745,788$722,746$863,904
57$868,499$739,299$703,925$889,232
58$912,697$731,135$683,118$915,988
59$960,005$721,174$660,215$944,312
60$1,010,696$709,282$635,103$974,360
61$1,065,070$695,320$607,662$1,006,305
62$1,123,455$679,139$577,767$1,040,339
63$1,186,213$660,582$545,287$1,076,673
64$1,253,740$639,483$510,087$1,115,544
65$1,326,469$615,666$472,023$1,157,212
66$1,404,880$588,945$430,947$1,201,968
67$1,489,497$559,122$386,703$1,250,131
68$1,580,897$525,990$339,128$1,302,058
69$1,679,712$489,327$288,053$1,358,141
70$1,786,640$448,902$233,300$1,418,817
71$1,902,446$404,466$174,684$1,484,567
72$2,027,971$355,761$112,012$1,555,926
73$2,164,141$302,511$45,082$1,633,485
74$2,311,975$244,425$0$1,717,899
75$2,472,591$181,196$0$1,815,513
76$2,647,220$112,500$0$1,932,137
77$2,837,218$37,994$0$2,059,078
78$3,044,076$0$0$2,197,364
79$3,269,433$0$0$2,354,708
80$3,515,094$0$0$2,532,651
81$3,783,047$0$0$2,726,784
82$4,075,477$0$0$2,938,696
83$4,394,792$0$0$3,170,138
84$4,743,640$0$0$3,423,035
85$5,124,940$0$0$3,699,507
86$5,541,902$0$0$4,001,891
87$5,998,061$0$0$4,332,757
88$6,497,312$0$0$4,694,935
89$7,043,941$0$0$5,091,542
90$7,642,670$0$0$5,526,012
91$8,298,696$0$0$6,002,124
92$9,017,746$0$0$6,524,043
93$9,806,125$0$0$7,096,352
94$10,670,779$0$0$7,724,104
95$11,619,357$0$0$8,412,859
96$12,660,285$0$0$9,168,746
97$13,802,844$0$0$9,998,513
98$15,057,258$0$0$10,909,595
99$16,434,786$0$0$11,910,181
100$17,947,836$0$0$13,009,292