Can I retire at age 55 with 713,000?

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 $713,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$58,879$58,354$57,843$57,343$56,856$55,594
2 years$29,148$28,605$28,079$27,569$27,074$25,810
3 years$19,239$18,694$18,169$17,664$17,177$15,949
4 years$14,285$13,742$13,222$12,726$12,251$11,069
5 years$11,314$10,774$10,261$9,775$9,313$8,180
6 years$9,334$8,798$8,292$7,817$7,369$6,287
7 years$7,920$7,388$6,891$6,427$5,993$4,962
8 years$6,860$6,333$5,844$5,391$4,972$3,991
9 years$6,036$5,514$5,034$4,592$4,187$3,256
10 years$5,377$4,860$4,388$3,958$3,567$2,685
11 years$4,839$4,327$3,863$3,445$3,068$2,233
12 years$4,390$3,884$3,429$3,022$2,659$1,870
13 years$4,011$3,510$3,063$2,668$2,318$1,575
14 years$3,686$3,190$2,752$2,368$2,032$1,332
15 years$3,405$2,914$2,485$2,112$1,789$1,131
16 years$3,159$2,674$2,253$1,891$1,582$963
17 years$2,942$2,462$2,050$1,699$1,402$822
18 years$2,750$2,275$1,872$1,531$1,247$703
19 years$2,578$2,109$1,713$1,384$1,111$603
20 years$2,423$1,960$1,572$1,253$993$518
21 years$2,284$1,825$1,446$1,137$888$445
22 years$2,157$1,704$1,333$1,034$796$383
23 years$2,041$1,594$1,231$942$715$330
24 years$1,935$1,493$1,138$859$642$284
25 years$1,838$1,401$1,054$784$578$245
26 years$1,749$1,317$978$717$521$212
27 years$1,666$1,239$908$656$469$183
28 years$1,589$1,168$844$601$424$158
29 years$1,518$1,102$785$552$383$137
30 years$1,451$1,040$732$506$346$118
31 years$1,389$984$682$465$312$102
32 years$1,331$931$636$427$283$88
33 years$1,277$881$594$393$256$76
34 years$1,226$835$555$361$232$66
35 years$1,178$792$519$333$210$57
36 years$1,132$752$486$306$190$50
37 years$1,090$714$454$282$172$43
38 years$1,049$679$426$260$156$37
39 years$1,011$645$399$240$142$32
40 years$975$614$374$221$128$28
41 years$940$585$350$204$117$24
42 years$908$557$329$188$106$21
43 years$877$530$308$174$96$18
44 years$847$506$290$161$87$16
45 years$819$482$272$148$79$14
46 years$792$460$255$137$72$12
47 years$766$439$240$127$65$10
48 years$742$419$225$117$59$9
49 years$719$400$212$108$54$8
50 years$696$382$199$100$49$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $713,000, adding $4,864 every year, while hoping to spend $33,611 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: 58/22/20 Blend
54$713,000$713,000$713,000$713,000
55$790,743$752,954$741,903$832,145
56$835,637$754,087$730,995$861,971
57$883,984$754,149$718,595$890,410
58$936,100$753,052$704,617$920,667
59$992,333$750,703$688,973$952,926
60$1,053,066$747,002$671,568$987,387
61$1,118,718$741,844$652,305$1,024,275
62$1,189,751$735,119$631,082$1,063,838
63$1,266,673$726,707$607,790$1,106,352
64$1,350,041$716,483$582,318$1,152,120
65$1,440,469$704,314$554,550$1,201,481
66$1,538,632$690,060$524,362$1,254,807
67$1,645,270$673,572$491,626$1,312,512
68$1,761,202$654,691$456,210$1,375,054
69$1,887,324$633,250$417,972$1,442,940
70$2,024,625$609,073$376,768$1,516,730
71$2,174,191$581,972$332,444$1,597,044
72$2,337,219$551,749$284,842$1,684,569
73$2,515,026$518,196$233,795$1,780,062
74$2,709,061$481,089$179,129$1,884,365
75$2,920,919$440,196$120,663$1,998,405
76$3,152,355$395,268$58,208$2,123,207
77$3,405,303$346,044$0$2,259,907
78$3,681,891$292,248$0$2,411,560
79$3,984,463$233,587$0$2,591,124
80$4,315,598$169,752$0$2,787,742
81$4,678,137$100,418$0$3,003,153
82$5,075,209$25,241$0$3,239,278
83$5,510,260$0$0$3,498,235
84$5,987,083$0$0$3,795,952
85$6,509,858$0$0$4,129,120
86$7,083,186$0$0$4,494,569
87$7,712,138$0$0$4,895,540
88$8,402,296$0$0$5,335,598
89$9,159,812$0$0$5,818,675
90$9,991,459$0$0$6,349,100
91$10,904,701$0$0$6,931,640
92$11,907,758$0$0$7,571,551
93$13,009,686$0$0$8,274,618
94$14,220,462$0$0$9,047,217
95$15,551,077$0$0$9,896,371
96$17,013,638$0$0$10,829,820
97$18,621,486$0$0$11,856,086
98$20,389,316$0$0$12,984,563
99$22,333,321$0$0$14,225,598
100$24,471,340$0$0$15,590,591