Can I retire at age 55 with 593,000?

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 $593,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$48,969$48,533$48,108$47,692$47,287$45,810
2 years$24,242$23,791$23,353$22,929$22,517$21,043
3 years$16,001$15,548$15,111$14,691$14,286$12,859
4 years$11,881$11,429$10,997$10,584$10,189$8,822
5 years$9,410$8,961$8,534$8,129$7,745$6,441
6 years$7,763$7,317$6,897$6,501$6,129$4,889
7 years$6,587$6,145$5,731$5,345$4,984$3,808
8 years$5,705$5,267$4,861$4,484$4,135$3,022
9 years$5,020$4,586$4,186$3,819$3,482$2,431
10 years$4,472$4,042$3,650$3,292$2,967$1,977
11 years$4,024$3,599$3,213$2,865$2,552$1,620
12 years$3,651$3,230$2,852$2,513$2,211$1,336
13 years$3,336$2,919$2,548$2,219$1,928$1,108
14 years$3,066$2,653$2,289$1,970$1,690$922
15 years$2,832$2,424$2,067$1,756$1,488$770
16 years$2,627$2,224$1,874$1,573$1,315$645
17 years$2,447$2,048$1,705$1,413$1,166$542
18 years$2,287$1,892$1,557$1,273$1,037$456
19 years$2,144$1,754$1,425$1,151$924$384
20 years$2,015$1,630$1,308$1,042$826$324
21 years$1,899$1,518$1,203$946$739$274
22 years$1,794$1,417$1,109$860$662$231
23 years$1,698$1,325$1,024$783$594$196
24 years$1,610$1,242$947$714$534$166
25 years$1,529$1,165$877$652$481$140
26 years$1,454$1,095$813$596$433$119
27 years$1,385$1,031$755$546$390$101
28 years$1,322$971$702$500$352$85
29 years$1,262$916$653$459$318$72
30 years$1,207$865$609$421$287$62
31 years$1,155$818$567$387$260$52
32 years$1,107$774$529$355$235$44
33 years$1,062$733$494$327$213$38
34 years$1,019$695$462$301$193$32
35 years$979$659$432$277$174$27
36 years$942$625$404$255$158$23
37 years$906$594$378$235$143$20
38 years$873$565$354$216$130$17
39 years$841$537$332$200$118$14
40 years$811$511$311$184$107$12
41 years$782$486$291$170$97$10
42 years$755$463$273$157$88$9
43 years$729$441$257$145$80$7
44 years$705$421$241$134$72$6
45 years$681$401$226$123$66$5
46 years$659$383$212$114$60$5
47 years$637$365$200$105$54$4
48 years$617$348$188$97$49$3
49 years$598$333$176$90$45$3
50 years$579$318$166$83$41$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $593,000, adding $5,398 every year, while hoping to spend $44,970 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: 44/35/21 Blend
54$593,000$593,000$593,000$593,000
55$659,054$627,625$618,434$683,832
56$678,430$610,531$591,303$684,752
57$698,275$591,092$561,757$680,929
58$718,589$569,146$529,666$675,864
59$739,372$544,521$494,897$669,464
60$760,620$517,035$457,308$661,632
61$782,330$486,496$416,755$652,262
62$804,494$452,700$373,082$641,244
63$827,103$415,434$326,131$628,460
64$850,146$374,468$275,735$613,784
65$873,607$329,563$221,718$597,083
66$897,469$280,466$163,900$578,216
67$921,710$226,908$102,089$557,033
68$946,303$168,605$36,088$533,374
69$971,218$105,259$0$507,069
70$996,419$36,553$0$485,634
71$1,021,863$0$0$470,312
72$1,047,503$0$0$467,430
73$1,073,282$0$0$478,654
74$1,099,137$0$0$489,876
75$1,124,996$0$0$501,057
76$1,150,775$0$0$512,157
77$1,176,381$0$0$523,129
78$1,201,708$0$0$533,921
79$1,226,636$0$0$544,472
80$1,251,031$0$0$554,716
81$1,274,742$0$0$564,579
82$1,297,599$0$0$573,976
83$1,319,411$0$0$582,813
84$1,339,966$0$0$590,986
85$1,359,026$0$0$598,378
86$1,376,325$0$0$604,857
87$1,391,566$0$0$610,279
88$1,404,421$0$0$614,481
89$1,414,520$0$0$617,284
90$1,421,456$0$0$618,486
91$1,424,772$0$0$617,865
92$1,423,964$0$0$615,175
93$1,418,470$0$0$610,140
94$1,407,668$0$0$602,456
95$1,390,866$0$0$591,786
96$1,367,298$0$0$577,756
97$1,336,115$0$0$559,951
98$1,296,376$0$0$537,914
99$1,247,039$0$0$511,135
100$1,186,949$0$0$479,053