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%13.3%
1 years$58,796$58,273$57,762$57,263$56,776$55,997
2 years$29,107$28,565$28,040$27,530$27,036$26,253
3 years$19,212$18,668$18,143$17,639$17,153$16,389
4 years$14,265$13,723$13,204$12,708$12,234$11,496
5 years$11,298$10,759$10,247$9,761$9,300$8,590
6 years$9,321$8,785$8,281$7,806$7,359$6,677
7 years$7,909$7,378$6,881$6,418$5,984$5,332
8 years$6,850$6,324$5,836$5,384$4,965$4,342
9 years$6,028$5,506$5,027$4,586$4,181$3,586
10 years$5,370$4,854$4,382$3,953$3,562$2,996
11 years$4,832$4,321$3,858$3,440$3,064$2,525
12 years$4,384$3,878$3,424$3,017$2,655$2,143
13 years$4,005$3,505$3,059$2,664$2,315$1,830
14 years$3,681$3,186$2,749$2,365$2,030$1,570
15 years$3,400$2,910$2,482$2,109$1,787$1,352
16 years$3,154$2,670$2,250$1,888$1,579$1,169
17 years$2,938$2,459$2,047$1,697$1,400$1,013
18 years$2,746$2,272$1,869$1,529$1,245$880
19 years$2,574$2,106$1,711$1,382$1,110$766
20 years$2,420$1,957$1,570$1,251$991$668
21 years$2,280$1,823$1,444$1,136$887$583
22 years$2,154$1,701$1,331$1,033$795$510
23 years$2,038$1,591$1,229$940$714$447
24 years$1,933$1,491$1,137$858$642$392
25 years$1,836$1,399$1,053$783$577$343
26 years$1,746$1,315$976$716$520$301
27 years$1,664$1,238$907$656$469$265
28 years$1,587$1,166$843$601$423$233
29 years$1,516$1,100$784$551$382$205
30 years$1,449$1,039$731$505$345$180
31 years$1,387$982$681$464$312$159
32 years$1,329$929$636$427$282$140
33 years$1,275$880$593$392$255$123
34 years$1,224$834$554$361$231$108
35 years$1,176$791$518$332$209$95
36 years$1,131$751$485$306$190$84
37 years$1,088$713$454$282$172$74
38 years$1,048$678$425$260$156$65
39 years$1,010$645$398$240$141$58
40 years$973$613$373$221$128$51
41 years$939$584$350$204$116$45
42 years$906$556$328$188$106$40
43 years$875$530$308$174$96$35
44 years$846$505$289$160$87$31
45 years$818$481$272$148$79$27
46 years$791$459$255$137$72$24
47 years$765$438$240$126$65$21
48 years$741$418$225$117$59$19
49 years$718$400$212$108$54$16
50 years$695$382$199$100$49$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $712,000, adding $3,827 every year, while hoping to spend $37,786 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: 63/11/26 Blend
54$712,000$712,000$712,000$712,000
55$788,572$750,836$739,800$832,595
56$828,802$747,422$724,379$859,447
57$871,869$742,576$707,175$884,264
58$918,023$736,185$688,089$910,543
59$967,537$728,134$667,015$938,433
60$1,020,712$718,298$643,846$968,098
61$1,077,877$706,547$618,467$999,722
62$1,139,393$692,741$590,759$1,033,508
63$1,205,659$676,734$560,598$1,069,682
64$1,277,111$658,368$527,852$1,108,493
65$1,354,228$637,479$492,386$1,150,219
66$1,437,536$613,893$454,058$1,195,167
67$1,527,615$587,424$412,720$1,243,678
68$1,625,101$557,877$368,215$1,296,129
69$1,730,692$525,044$320,381$1,352,940
70$1,845,159$488,707$269,050$1,414,572
71$1,969,346$448,635$214,045$1,481,539
72$2,104,184$404,583$155,180$1,554,409
73$2,250,696$356,292$92,263$1,633,810
74$2,410,005$303,489$25,092$1,720,438
75$2,583,351$245,885$0$1,815,063
76$2,772,096$183,176$0$1,931,462
77$2,977,737$115,040$0$2,065,920
78$3,201,925$41,135$0$2,212,575
79$3,446,475$0$0$2,372,644
80$3,713,384$0$0$2,552,179
81$4,004,852$0$0$2,753,718
82$4,323,300$0$0$2,973,963
83$4,671,393$0$0$3,214,763
84$5,052,066$0$0$3,478,154
85$5,468,549$0$0$3,766,379
86$5,924,401$0$0$4,081,907
87$6,423,538$0$0$4,427,457
88$6,970,275$0$0$4,806,021
89$7,569,363$0$0$5,220,899
90$8,226,033$0$0$5,675,722
91$8,946,049$0$0$6,174,488
92$9,735,756$0$0$6,721,604
93$10,602,146$0$0$7,321,921
94$11,552,917$0$0$7,980,784
95$12,596,552$0$0$8,704,080
96$13,742,393$0$0$9,498,293
97$15,000,730$0$0$10,370,568
98$16,382,902$0$0$11,328,774
99$17,901,396$0$0$12,381,579
100$19,569,971$0$0$13,538,534