Can I retire at age 55 with 723,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $723,000?

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 years$59,705$59,173$58,654$58,148$57,653$55,785
2 years$29,557$29,006$28,473$27,956$27,454$25,590
3 years$19,509$18,956$18,424$17,911$17,418$15,616
4 years$14,486$13,935$13,408$12,904$12,423$10,696
5 years$11,473$10,925$10,405$9,912$9,443$7,798
6 years$9,465$8,921$8,409$7,926$7,472$5,908
7 years$8,031$7,492$6,988$6,517$6,077$4,595
8 years$6,956$6,422$5,926$5,467$5,041$3,640
9 years$6,121$5,591$5,104$4,656$4,246$2,923
10 years$5,453$4,929$4,450$4,014$3,617$2,372
11 years$4,906$4,388$3,918$3,493$3,111$1,940
12 years$4,452$3,938$3,477$3,064$2,696$1,597
13 years$4,067$3,559$3,106$2,705$2,351$1,321
14 years$3,738$3,235$2,791$2,401$2,061$1,098
15 years$3,452$2,955$2,520$2,142$1,815$915
16 years$3,203$2,711$2,285$1,918$1,604$765
17 years$2,983$2,497$2,079$1,723$1,422$641
18 years$2,788$2,307$1,898$1,553$1,264$538
19 years$2,614$2,138$1,737$1,403$1,127$452
20 years$2,457$1,987$1,594$1,271$1,007$380
21 years$2,316$1,851$1,467$1,153$901$321
22 years$2,187$1,728$1,352$1,049$807$270
23 years$2,070$1,616$1,248$955$725$228
24 years$1,963$1,514$1,154$871$651$193
25 years$1,864$1,421$1,069$795$586$163
26 years$1,773$1,335$992$727$528$138
27 years$1,689$1,257$921$666$476$116
28 years$1,611$1,184$856$610$430$98
29 years$1,539$1,117$796$559$388$83
30 years$1,472$1,055$742$513$350$71
31 years$1,409$997$692$471$317$60
32 years$1,350$944$645$433$287$51
33 years$1,295$894$603$398$259$43
34 years$1,243$847$563$367$235$36
35 years$1,194$803$526$337$213$31
36 years$1,148$763$492$311$193$26
37 years$1,105$724$461$286$175$22
38 years$1,064$688$432$264$158$19
39 years$1,025$655$404$243$144$16
40 years$988$623$379$224$130$13
41 years$954$593$355$207$118$11
42 years$920$565$333$191$107$10
43 years$889$538$313$176$97$8
44 years$859$513$294$163$88$7
45 years$830$489$276$150$80$6
46 years$803$466$259$139$73$5
47 years$777$445$243$128$66$4
48 years$752$425$229$119$60$4
49 years$729$406$215$110$55$3
50 years$706$388$202$101$50$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $723,000, adding $4,427 every year, while hoping to spend $34,699 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: 51/19/30 Blend
54$723,000$723,000$723,000$723,000
55$801,312$762,993$751,787$835,191
56$846,127$763,461$740,052$859,794
57$894,349$762,788$726,762$882,724
58$946,291$760,882$711,826$906,992
59$1,002,293$757,646$695,153$932,740
60$1,062,731$752,975$676,645$960,129
61$1,128,018$746,759$656,200$989,337
62$1,198,605$738,879$633,712$1,020,563
63$1,274,992$729,213$609,071$1,054,027
64$1,357,725$717,629$582,158$1,089,975
65$1,447,406$703,986$552,854$1,128,679
66$1,544,697$688,137$521,031$1,170,442
67$1,650,327$669,926$486,555$1,215,603
68$1,765,094$649,187$449,289$1,264,533
69$1,889,881$625,744$409,087$1,317,649
70$2,025,655$599,412$365,798$1,375,412
71$2,173,484$569,994$319,264$1,438,331
72$2,334,538$537,284$269,319$1,506,974
73$2,510,110$501,060$215,790$1,581,969
74$2,701,621$461,091$158,498$1,664,013
75$2,910,632$417,130$97,254$1,753,876
76$3,138,867$368,920$31,862$1,852,415
77$3,388,219$316,185$0$1,960,575
78$3,660,774$258,635$0$2,091,544
79$3,958,830$195,964$0$2,246,017
80$4,284,913$127,849$0$2,415,140
81$4,641,809$53,948$0$2,600,409
82$5,032,583$0$0$2,803,475
83$5,460,611$0$0$3,031,615
84$5,929,612$0$0$3,294,026
85$6,443,678$0$0$3,581,728
86$7,007,321$0$0$3,897,255
87$7,625,507$0$0$4,243,396
88$8,303,706$0$0$4,623,225
89$9,047,944$0$0$5,040,128
90$9,864,858$0$0$5,497,832
91$10,761,759$0$0$6,000,446
92$11,746,700$0$0$6,552,495
93$12,828,554$0$0$7,158,962
94$14,017,092$0$0$7,825,340
95$15,323,083$0$0$8,557,678
96$16,758,386$0$0$9,362,640
97$18,336,070$0$0$10,247,568
98$20,070,529$0$0$11,220,552
99$21,977,625$0$0$12,290,504
100$24,074,831$0$0$13,467,243