Can I retire at age 55 with 744,000?

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 $744,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$61,439$60,892$60,358$59,836$59,328$58,635
2 years$30,415$29,849$29,300$28,768$28,251$27,554
3 years$20,075$19,507$18,959$18,432$17,924$17,244
4 years$14,907$14,339$13,797$13,279$12,783$12,126
5 years$11,806$11,242$10,707$10,200$9,718$9,084
6 years$9,740$9,180$8,653$8,157$7,689$7,081
7 years$8,264$7,709$7,191$6,706$6,253$5,670
8 years$7,158$6,608$6,098$5,626$5,188$4,630
9 years$6,298$5,754$5,252$4,792$4,369$3,836
10 years$5,611$5,072$4,579$4,130$3,723$3,214
11 years$5,049$4,515$4,031$3,595$3,202$2,717
12 years$4,581$4,052$3,578$3,153$2,774$2,314
13 years$4,185$3,662$3,197$2,784$2,419$1,982
14 years$3,846$3,329$2,872$2,471$2,121$1,706
15 years$3,553$3,041$2,593$2,204$1,867$1,474
16 years$3,296$2,790$2,351$1,973$1,650$1,279
17 years$3,070$2,570$2,139$1,773$1,463$1,112
18 years$2,869$2,374$1,953$1,598$1,301$970
19 years$2,690$2,201$1,788$1,444$1,160$847
20 years$2,529$2,045$1,641$1,308$1,036$741
21 years$2,383$1,905$1,509$1,187$927$650
22 years$2,251$1,778$1,391$1,079$831$571
23 years$2,130$1,663$1,284$983$746$502
24 years$2,020$1,558$1,188$896$670$441
25 years$1,918$1,462$1,100$818$603$389
26 years$1,825$1,374$1,020$748$543$343
27 years$1,738$1,293$947$685$490$302
28 years$1,658$1,219$881$628$442$267
29 years$1,584$1,150$820$576$399$235
30 years$1,514$1,086$763$528$361$208
31 years$1,450$1,026$712$485$326$184
32 years$1,389$971$664$446$295$162
33 years$1,332$920$620$410$267$144
34 years$1,279$872$579$377$242$127
35 years$1,229$827$542$347$219$112
36 years$1,182$785$507$320$198$100
37 years$1,137$745$474$295$180$88
38 years$1,095$708$444$272$163$78
39 years$1,055$674$416$250$148$69
40 years$1,017$641$390$231$134$61
41 years$981$610$366$213$122$54
42 years$947$581$343$197$110$48
43 years$915$553$322$182$100$43
44 years$884$528$302$168$91$38
45 years$855$503$284$155$83$33
46 years$827$480$266$143$75$30
47 years$800$458$250$132$68$26
48 years$774$437$235$122$62$23
49 years$750$418$221$113$56$21
50 years$726$399$208$104$51$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $744,000, adding $2,982 every year, while hoping to spend $42,366 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: 37/48/15 Blend
54$744,000$744,000$744,000$744,000
55$822,964$783,532$772,000$849,555
56$861,829$776,848$752,785$862,249
57$903,239$768,416$731,506$871,683
58$947,407$758,107$708,050$880,963
59$994,570$745,782$682,297$890,095
60$1,044,986$731,294$654,123$899,092
61$1,098,936$714,489$623,398$907,971
62$1,156,731$695,203$589,985$916,756
63$1,218,711$673,261$553,743$925,474
64$1,285,248$648,480$514,523$934,163
65$1,356,753$620,665$472,168$942,867
66$1,433,674$589,609$426,518$951,642
67$1,516,504$555,096$377,402$960,551
68$1,605,787$516,895$324,644$969,673
69$1,702,115$474,761$268,058$979,099
70$1,806,145$428,438$207,451$988,937
71$1,918,593$377,653$142,622$999,311
72$2,040,250$322,118$73,361$1,010,365
73$2,171,983$261,530$0$1,022,267
74$2,314,748$195,568$0$1,035,297
75$2,469,594$123,891$0$1,062,123
76$2,637,673$46,143$0$1,091,281
77$2,820,257$0$0$1,123,098
78$3,018,741$0$0$1,178,042
79$3,234,661$0$0$1,264,418
80$3,469,707$0$0$1,358,539
81$3,725,739$0$0$1,461,163
82$4,004,803$0$0$1,573,123
83$4,309,151$0$0$1,695,334
84$4,641,262$0$0$1,828,806
85$5,003,864$0$0$1,974,650
86$5,399,962$0$0$2,134,087
87$5,832,861$0$0$2,308,465
88$6,306,203$0$0$2,499,266
89$6,823,994$0$0$2,708,121
90$7,390,649$0$0$2,936,829
91$8,011,026$0$0$3,187,368
92$8,690,478$0$0$3,461,917
93$9,434,897$0$0$3,762,878
94$10,250,774$0$0$4,092,895
95$11,145,256$0$0$4,454,878
96$12,126,215$0$0$4,852,035
97$13,202,323$0$0$5,287,900
98$14,383,130$0$0$5,766,363
99$15,679,155$0$0$6,291,710
100$17,101,987$0$0$6,868,665