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%12.4%
1 years$58,879$58,354$57,843$57,343$56,856$56,285
2 years$29,148$28,605$28,079$27,569$27,074$26,500
3 years$19,239$18,694$18,169$17,664$17,177$16,616
4 years$14,285$13,742$13,222$12,726$12,251$11,708
5 years$11,314$10,774$10,261$9,775$9,313$8,790
6 years$9,334$8,798$8,292$7,817$7,369$6,866
7 years$7,920$7,388$6,891$6,427$5,993$5,511
8 years$6,860$6,333$5,844$5,391$4,972$4,510
9 years$6,036$5,514$5,034$4,592$4,187$3,745
10 years$5,377$4,860$4,388$3,958$3,567$3,146
11 years$4,839$4,327$3,863$3,445$3,068$2,666
12 years$4,390$3,884$3,429$3,022$2,659$2,276
13 years$4,011$3,510$3,063$2,668$2,318$1,955
14 years$3,686$3,190$2,752$2,368$2,032$1,687
15 years$3,405$2,914$2,485$2,112$1,789$1,462
16 years$3,159$2,674$2,253$1,891$1,582$1,271
17 years$2,942$2,462$2,050$1,699$1,402$1,109
18 years$2,750$2,275$1,872$1,531$1,247$969
19 years$2,578$2,109$1,713$1,384$1,111$849
20 years$2,423$1,960$1,572$1,253$993$746
21 years$2,284$1,825$1,446$1,137$888$656
22 years$2,157$1,704$1,333$1,034$796$577
23 years$2,041$1,594$1,231$942$715$509
24 years$1,935$1,493$1,138$859$642$449
25 years$1,838$1,401$1,054$784$578$397
26 years$1,749$1,317$978$717$521$351
27 years$1,666$1,239$908$656$469$310
28 years$1,589$1,168$844$601$424$275
29 years$1,518$1,102$785$552$383$243
30 years$1,451$1,040$732$506$346$216
31 years$1,389$984$682$465$312$191
32 years$1,331$931$636$427$283$170
33 years$1,277$881$594$393$256$151
34 years$1,226$835$555$361$232$134
35 years$1,178$792$519$333$210$119
36 years$1,132$752$486$306$190$105
37 years$1,090$714$454$282$172$94
38 years$1,049$679$426$260$156$83
39 years$1,011$645$399$240$142$74
40 years$975$614$374$221$128$66
41 years$940$585$350$204$117$58
42 years$908$557$329$188$106$52
43 years$877$530$308$174$96$46
44 years$847$506$290$161$87$41
45 years$819$482$272$148$79$36
46 years$792$460$255$137$72$32
47 years$766$439$240$127$65$29
48 years$742$419$225$117$59$26
49 years$719$400$212$108$54$23
50 years$696$382$199$100$49$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $713,000, adding $5,402 every year, while hoping to spend $20,748 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: 45/46/9 Blend
54$713,000$713,000$713,000$713,000
55$791,298$753,509$742,458$824,665
56$849,935$768,355$745,254$863,142
57$913,857$783,234$747,449$902,274
58$983,582$798,124$749,000$944,232
59$1,059,679$813,004$749,864$989,281
60$1,142,775$827,849$749,993$1,037,719
61$1,233,559$842,635$749,339$1,089,869
62$1,332,792$857,334$747,851$1,146,091
63$1,441,308$871,915$745,475$1,206,779
64$1,560,029$886,346$742,157$1,272,369
65$1,689,969$900,594$737,835$1,343,343
66$1,832,243$914,620$732,450$1,420,230
67$1,988,081$928,385$725,936$1,503,614
68$2,158,836$941,847$718,226$1,594,140
69$2,345,999$954,959$709,248$1,692,518
70$2,551,212$967,674$698,929$1,799,533
71$2,776,283$979,937$687,191$1,916,049
72$3,023,205$991,695$673,952$2,043,018
73$3,294,170$1,002,886$659,128$2,181,493
74$3,591,595$1,013,448$642,629$2,332,632
75$3,918,143$1,023,311$624,362$2,497,714
76$4,276,745$1,032,405$604,229$2,678,150
77$4,670,631$1,040,651$582,129$2,875,494
78$5,103,360$1,047,967$557,955$3,091,461
79$5,578,851$1,054,267$531,595$3,327,944
80$6,101,424$1,059,455$502,933$3,587,026
81$6,675,835$1,063,434$471,847$3,871,010
82$7,307,326$1,066,098$438,210$4,182,431
83$8,001,671$1,067,336$401,889$4,524,087
84$8,765,233$1,067,027$362,744$4,899,062
85$9,605,022$1,065,046$320,630$5,310,759
86$10,528,759$1,061,258$275,397$5,762,927
87$11,544,955$1,055,522$226,885$6,259,704
88$12,662,984$1,047,686$174,929$6,805,651
89$13,893,175$1,037,590$119,356$7,405,796
90$15,246,912$1,025,064$59,987$8,065,686
91$16,736,733$1,009,929$0$8,791,434
92$18,376,457$991,992$0$9,590,107
93$20,181,308$971,053$0$10,474,983
94$22,168,065$946,897$0$11,448,512
95$24,355,210$919,298$0$12,519,751
96$26,763,113$888,016$0$13,698,685
97$29,414,219$852,796$0$14,996,322
98$32,333,256$813,371$0$16,424,795
99$35,547,478$769,455$0$17,997,481
100$39,086,911$720,749$0$19,729,127