Can I retire at age 55 with 724,000?

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 $724,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$59,787$59,255$58,735$58,228$57,733$56,475
2 years$29,598$29,046$28,512$27,994$27,492$26,231
3 years$19,536$18,982$18,449$17,936$17,442$16,217
4 years$14,506$13,954$13,426$12,922$12,440$11,261
5 years$11,489$10,940$10,419$9,925$9,456$8,326
6 years$9,478$8,933$8,420$7,937$7,483$6,403
7 years$8,042$7,502$6,997$6,526$6,085$5,056
8 years$6,966$6,431$5,934$5,474$5,048$4,069
9 years$6,129$5,599$5,111$4,663$4,251$3,322
10 years$5,460$4,935$4,456$4,019$3,622$2,741
11 years$4,913$4,394$3,923$3,498$3,115$2,281
12 years$4,458$3,944$3,482$3,068$2,700$1,912
13 years$4,073$3,564$3,111$2,709$2,354$1,611
14 years$3,743$3,239$2,795$2,405$2,064$1,363
15 years$3,457$2,959$2,523$2,145$1,817$1,158
16 years$3,208$2,715$2,288$1,920$1,606$987
17 years$2,988$2,500$2,082$1,725$1,424$843
18 years$2,792$2,311$1,900$1,555$1,266$722
19 years$2,618$2,141$1,740$1,405$1,128$619
20 years$2,461$1,990$1,597$1,272$1,008$532
21 years$2,319$1,853$1,469$1,155$902$458
22 years$2,190$1,730$1,354$1,050$809$394
23 years$2,073$1,618$1,250$956$726$340
24 years$1,965$1,516$1,156$872$652$293
25 years$1,867$1,423$1,071$796$587$253
26 years$1,776$1,337$993$728$529$219
27 years$1,692$1,258$922$667$477$189
28 years$1,614$1,186$857$611$430$163
29 years$1,541$1,119$798$560$388$141
30 years$1,474$1,057$743$514$351$122
31 years$1,411$999$693$472$317$106
32 years$1,352$945$646$434$287$92
33 years$1,297$895$603$399$260$79
34 years$1,245$848$564$367$235$69
35 years$1,196$805$527$338$213$60
36 years$1,150$764$493$311$193$52
37 years$1,106$725$462$287$175$45
38 years$1,065$689$432$264$159$39
39 years$1,027$655$405$244$144$34
40 years$990$624$380$225$130$29
41 years$955$594$356$207$118$25
42 years$922$565$334$191$107$22
43 years$890$539$313$177$97$19
44 years$860$513$294$163$88$16
45 years$832$490$276$151$80$14
46 years$804$467$259$139$73$12
47 years$778$446$244$129$66$11
48 years$753$425$229$119$60$9
49 years$730$406$215$110$55$8
50 years$707$388$202$101$50$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $724,000, adding $5,631 every year, while hoping to spend $28,408 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: 76/19/5 Blend
54$724,000$724,000$724,000$724,000
55$803,656$765,284$754,062$864,059
56$855,403$772,557$749,098$911,781
57$911,477$779,235$743,014$959,844
58$972,287$785,257$735,745$1,011,685
59$1,038,287$790,562$727,220$1,067,668
60$1,109,974$795,081$717,363$1,128,192
61$1,187,896$798,744$706,099$1,193,696
62$1,272,653$801,475$693,345$1,264,665
63$1,364,909$803,192$679,018$1,341,635
64$1,465,392$803,811$663,027$1,425,193
65$1,574,905$803,240$645,281$1,515,989
66$1,694,328$801,382$625,681$1,614,737
67$1,824,635$798,135$604,127$1,722,226
68$1,966,894$793,389$580,511$1,839,322
69$2,122,281$787,030$554,723$1,966,985
70$2,292,094$778,934$526,645$2,106,268
71$2,477,757$768,972$496,158$2,258,334
72$2,680,842$757,005$463,133$2,424,464
73$2,903,078$742,888$427,438$2,606,071
74$3,146,368$726,466$388,933$2,804,712
75$3,412,811$707,576$347,476$3,022,102
76$3,704,714$686,044$302,912$3,260,135
77$4,024,621$661,686$255,086$3,520,894
78$4,375,332$634,308$203,831$3,806,678
79$4,759,932$603,706$148,976$4,120,020
80$5,181,818$569,660$90,340$4,463,715
81$5,644,732$531,943$27,735$4,840,840
82$6,152,797$490,309$0$5,254,788
83$6,710,551$444,503$0$5,711,386
84$7,322,996$394,253$0$6,214,387
85$7,995,642$339,272$0$6,766,867
86$8,734,558$279,256$0$7,373,848
87$9,546,428$213,886$0$8,040,866
88$10,438,620$142,822$0$8,774,022
89$11,419,246$65,707$0$9,580,040
90$12,497,246$0$0$10,466,334
91$13,682,469$0$0$11,444,800
92$14,985,766$0$0$12,535,880
93$16,419,092$0$0$13,735,846
94$17,995,617$0$0$15,055,730
95$19,729,854$0$0$16,507,685
96$21,637,791$0$0$18,105,102
97$23,737,046$0$0$19,862,735
98$26,047,029$0$0$21,796,841
99$28,589,128$0$0$23,925,330
100$31,386,908$0$0$26,267,940