Can I retire at age 55 with 724,000?

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 $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%12.1%
1 years$59,787$59,255$58,735$58,228$57,733$57,225
2 years$29,598$29,046$28,512$27,994$27,492$26,980
3 years$19,536$18,982$18,449$17,936$17,442$16,942
4 years$14,506$13,954$13,426$12,922$12,440$11,956
5 years$11,489$10,940$10,419$9,925$9,456$8,990
6 years$9,478$8,933$8,420$7,937$7,483$7,034
7 years$8,042$7,502$6,997$6,526$6,085$5,655
8 years$6,966$6,431$5,934$5,474$5,048$4,636
9 years$6,129$5,599$5,111$4,663$4,251$3,857
10 years$5,460$4,935$4,456$4,019$3,622$3,245
11 years$4,913$4,394$3,923$3,498$3,115$2,756
12 years$4,458$3,944$3,482$3,068$2,700$2,357
13 years$4,073$3,564$3,111$2,709$2,354$2,028
14 years$3,743$3,239$2,795$2,405$2,064$1,754
15 years$3,457$2,959$2,523$2,145$1,817$1,523
16 years$3,208$2,715$2,288$1,920$1,606$1,327
17 years$2,988$2,500$2,082$1,725$1,424$1,160
18 years$2,792$2,311$1,900$1,555$1,266$1,016
19 years$2,618$2,141$1,740$1,405$1,128$892
20 years$2,461$1,990$1,597$1,272$1,008$785
21 years$2,319$1,853$1,469$1,155$902$692
22 years$2,190$1,730$1,354$1,050$809$611
23 years$2,073$1,618$1,250$956$726$540
24 years$1,965$1,516$1,156$872$652$477
25 years$1,867$1,423$1,071$796$587$423
26 years$1,776$1,337$993$728$529$375
27 years$1,692$1,258$922$667$477$332
28 years$1,614$1,186$857$611$430$295
29 years$1,541$1,119$798$560$388$262
30 years$1,474$1,057$743$514$351$233
31 years$1,411$999$693$472$317$207
32 years$1,352$945$646$434$287$184
33 years$1,297$895$603$399$260$164
34 years$1,245$848$564$367$235$145
35 years$1,196$805$527$338$213$129
36 years$1,150$764$493$311$193$115
37 years$1,106$725$462$287$175$103
38 years$1,065$689$432$264$159$91
39 years$1,027$655$405$244$144$81
40 years$990$624$380$225$130$73
41 years$955$594$356$207$118$65
42 years$922$565$334$191$107$58
43 years$890$539$313$177$97$51
44 years$860$513$294$163$88$46
45 years$832$490$276$151$80$41
46 years$804$467$259$139$73$36
47 years$778$446$244$129$66$32
48 years$753$425$229$119$60$29
49 years$730$406$215$110$55$26
50 years$707$388$202$101$50$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $724,000, adding $6,741 every year, while hoping to spend $31,145 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: 27/47/26 Blend
54$724,000$724,000$724,000$724,000
55$804,801$766,429$755,207$819,853
56$853,753$770,846$747,369$836,866
57$906,654$774,436$738,224$851,980
58$963,874$777,125$727,696$867,566
59$1,025,820$778,835$715,704$883,684
60$1,092,939$779,483$702,165$900,404
61$1,165,722$778,981$686,991$917,805
62$1,244,710$777,235$670,090$935,977
63$1,330,497$774,147$651,365$955,023
64$1,423,738$769,610$630,716$975,057
65$1,525,152$763,513$608,037$996,211
66$1,635,530$755,738$583,219$1,018,632
67$1,755,743$746,158$556,146$1,042,487
68$1,886,749$734,640$526,697$1,067,962
69$2,029,604$721,044$494,748$1,095,268
70$2,185,468$705,219$460,166$1,124,642
71$2,355,618$687,008$422,814$1,156,349
72$2,541,462$666,242$382,549$1,190,685
73$2,744,547$642,743$339,220$1,227,984
74$2,966,578$616,325$292,672$1,268,619
75$3,209,432$586,788$242,739$1,313,006
76$3,475,176$553,922$189,253$1,361,611
77$3,766,084$517,505$132,033$1,414,953
78$4,084,663$477,301$70,895$1,473,611
79$4,433,672$433,062$5,643$1,538,232
80$4,816,149$384,525$0$1,609,537
81$5,235,442$331,412$0$1,706,080
82$5,695,236$273,430$0$1,813,826
83$6,199,591$210,270$0$1,932,262
84$6,752,979$141,602$0$2,062,557
85$7,360,324$67,083$0$2,206,005
86$8,027,053$0$0$2,364,040
87$8,759,142$0$0$2,545,312
88$9,563,174$0$0$2,782,626
89$10,446,400$0$0$3,043,443
90$11,416,811$0$0$3,330,139
91$12,483,208$0$0$3,645,329
92$13,655,286$0$0$3,991,898
93$14,943,728$0$0$4,373,022
94$16,360,302$0$0$4,792,200
95$17,917,975$0$0$5,253,287
96$19,631,032$0$0$5,760,532
97$21,515,212$0$0$6,318,615
98$23,587,855$0$0$6,932,694
99$25,868,067$0$0$7,608,451
100$28,376,900$0$0$8,352,147