Can I retire at age 55 with 585,000?

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 $585,000?

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$48,309$47,878$47,459$47,049$46,649$46,181
2 years$23,915$23,470$23,038$22,620$22,214$21,742
3 years$15,785$15,338$14,907$14,493$14,093$13,633
4 years$11,721$11,275$10,849$10,441$10,051$9,606
5 years$9,283$8,840$8,419$8,020$7,641$7,212
6 years$7,658$7,218$6,804$6,413$6,046$5,633
7 years$6,498$6,062$5,654$5,273$4,917$4,521
8 years$5,628$5,196$4,795$4,423$4,079$3,700
9 years$4,952$4,524$4,130$3,768$3,435$3,073
10 years$4,412$3,988$3,601$3,248$2,927$2,581
11 years$3,970$3,550$3,170$2,827$2,517$2,188
12 years$3,602$3,186$2,813$2,479$2,181$1,868
13 years$3,291$2,880$2,513$2,189$1,902$1,604
14 years$3,024$2,617$2,258$1,943$1,668$1,384
15 years$2,793$2,391$2,039$1,733$1,468$1,199
16 years$2,592$2,194$1,849$1,552$1,298$1,043
17 years$2,414$2,020$1,682$1,394$1,151$910
18 years$2,256$1,867$1,536$1,256$1,023$795
19 years$2,115$1,730$1,406$1,135$912$697
20 years$1,988$1,608$1,290$1,028$814$612
21 years$1,874$1,498$1,187$933$729$538
22 years$1,770$1,398$1,094$848$653$474
23 years$1,675$1,308$1,010$773$586$418
24 years$1,588$1,225$934$705$527$369
25 years$1,508$1,150$865$644$474$326
26 years$1,435$1,080$802$588$427$288
27 years$1,367$1,017$745$539$385$255
28 years$1,304$958$693$493$348$226
29 years$1,245$904$644$453$314$200
30 years$1,191$854$600$415$284$177
31 years$1,140$807$560$381$256$157
32 years$1,092$764$522$351$232$139
33 years$1,048$723$488$322$210$124
34 years$1,006$685$456$297$190$110
35 years$966$650$426$273$172$97
36 years$929$617$398$251$156$86
37 years$894$586$373$232$141$77
38 years$861$557$349$214$128$68
39 years$830$530$327$197$116$61
40 years$800$504$307$182$105$54
41 years$772$480$288$168$96$48
42 years$745$457$270$155$87$43
43 years$719$435$253$143$79$38
44 years$695$415$238$132$71$34
45 years$672$396$223$122$65$30
46 years$650$377$210$112$59$27
47 years$629$360$197$104$53$24
48 years$609$344$185$96$49$21
49 years$590$328$174$89$44$19
50 years$571$314$163$82$40$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $585,000, adding $5,632 every year, while hoping to spend $39,306 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: 64/17/19 Blend
54$585,000$585,000$585,000$585,000
55$650,479$619,474$610,407$688,639
56$675,007$608,007$589,034$703,505
57$700,719$594,661$565,628$714,769
58$727,695$579,302$540,079$726,147
59$756,021$561,789$512,273$737,653
60$785,790$541,971$482,089$749,303
61$817,104$519,691$449,402$761,116
62$850,074$494,782$414,083$773,114
63$884,820$467,064$375,993$785,325
64$921,473$436,352$334,990$797,778
65$960,177$402,447$290,926$810,511
66$1,001,086$365,138$243,644$823,565
67$1,044,373$324,206$192,981$836,990
68$1,090,221$279,414$138,769$850,841
69$1,138,835$230,517$80,828$865,183
70$1,190,435$177,251$18,976$880,089
71$1,245,266$119,343$0$895,644
72$1,303,591$56,499$0$921,477
73$1,365,702$0$0$952,889
74$1,431,916$0$0$988,361
75$1,502,581$0$0$1,037,522
76$1,578,080$0$0$1,090,069
77$1,658,830$0$0$1,146,299
78$1,745,290$0$0$1,206,533
79$1,837,962$0$0$1,271,124
80$1,937,398$0$0$1,340,462
81$2,044,204$0$0$1,414,973
82$2,159,044$0$0$1,495,124
83$2,282,646$0$0$1,581,429
84$2,415,813$0$0$1,674,452
85$2,559,423$0$0$1,774,812
86$2,714,443$0$0$1,883,190
87$2,881,935$0$0$2,000,334
88$3,063,065$0$0$2,127,066
89$3,259,117$0$0$2,264,290
90$3,471,500$0$0$2,412,999
91$3,701,764$0$0$2,574,285
92$3,951,615$0$0$2,749,351
93$4,222,927$0$0$2,939,516
94$4,517,763$0$0$3,146,235
95$4,838,391$0$0$3,371,106
96$5,187,308$0$0$3,615,888
97$5,567,259$0$0$3,882,518
98$5,981,267$0$0$4,173,124
99$6,432,657$0$0$4,490,052
100$6,925,090$0$0$4,835,882