Can I retire at age 55 with 616,000?

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 $616,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$50,869$50,416$49,974$49,542$49,121$47,567
2 years$25,183$24,714$24,259$23,818$23,391$21,840
3 years$16,622$16,151$15,697$15,261$14,840$13,340
4 years$12,342$11,872$11,424$10,994$10,584$9,147
5 years$9,775$9,308$8,865$8,445$8,046$6,675
6 years$8,064$7,601$7,164$6,753$6,366$5,063
7 years$6,842$6,383$5,954$5,552$5,178$3,942
8 years$5,927$5,471$5,049$4,658$4,295$3,126
9 years$5,215$4,764$4,349$3,967$3,617$2,514
10 years$4,646$4,199$3,791$3,420$3,082$2,042
11 years$4,180$3,738$3,338$2,976$2,651$1,673
12 years$3,793$3,355$2,962$2,611$2,297$1,379
13 years$3,465$3,032$2,647$2,305$2,003$1,142
14 years$3,184$2,756$2,378$2,046$1,756$950
15 years$2,942$2,518$2,147$1,825$1,546$793
16 years$2,729$2,310$1,947$1,634$1,366$664
17 years$2,542$2,127$1,771$1,468$1,212$557
18 years$2,376$1,966$1,617$1,323$1,077$468
19 years$2,227$1,822$1,480$1,195$960$394
20 years$2,094$1,693$1,359$1,083$858$332
21 years$1,973$1,577$1,250$983$767$280
22 years$1,863$1,472$1,152$893$688$237
23 years$1,764$1,377$1,063$814$618$200
24 years$1,672$1,290$983$742$555$169
25 years$1,588$1,211$911$678$499$143
26 years$1,511$1,138$845$620$450$121
27 years$1,439$1,071$784$567$406$103
28 years$1,373$1,009$729$520$366$87
29 years$1,311$952$679$477$330$74
30 years$1,254$899$632$437$299$63
31 years$1,200$850$589$402$270$53
32 years$1,150$804$550$369$244$45
33 years$1,103$761$513$339$221$38
34 years$1,059$722$480$312$200$32
35 years$1,017$685$448$288$181$27
36 years$978$650$420$265$164$23
37 years$941$617$393$244$149$20
38 years$907$586$368$225$135$17
39 years$873$558$345$207$122$14
40 years$842$531$323$191$111$12
41 years$812$505$303$176$101$10
42 years$784$481$284$163$91$9
43 years$757$458$267$150$83$7
44 years$732$437$250$139$75$6
45 years$708$417$235$128$68$5
46 years$684$397$221$118$62$5
47 years$662$379$207$109$56$4
48 years$641$362$195$101$51$3
49 years$621$346$183$93$46$3
50 years$601$330$172$86$42$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $616,000, adding $2,245 every year, while hoping to spend $32,096 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: 64/27/9 Blend
54$616,000$616,000$616,000$616,000
55$681,148$648,500$638,952$723,318
56$716,475$646,126$626,207$749,348
57$754,330$642,561$611,959$773,799
58$794,936$637,711$596,124$799,682
59$838,540$631,479$578,615$827,135
60$885,410$623,761$559,338$856,309
61$935,844$614,447$538,198$887,374
62$990,166$603,421$515,093$920,516
63$1,048,733$590,558$489,918$955,943
64$1,111,937$575,729$462,564$993,884
65$1,180,209$558,795$432,915$1,034,593
66$1,254,023$539,608$400,850$1,078,352
67$1,333,899$518,015$366,244$1,125,472
68$1,420,410$493,850$328,966$1,176,298
69$1,514,183$466,941$288,878$1,231,211
70$1,615,912$437,103$245,838$1,290,635
71$1,726,356$404,142$199,695$1,355,038
72$1,846,353$367,854$150,293$1,424,936
73$1,976,823$328,020$97,469$1,500,902
74$2,118,778$284,412$41,054$1,583,570
75$2,273,332$236,788$0$1,673,640
76$2,441,712$184,890$0$1,773,728
77$2,625,267$128,450$0$1,887,176
78$2,825,480$67,180$0$2,011,006
79$3,043,987$780$0$2,146,284
80$3,282,587$0$0$2,294,188
81$3,543,259$0$0$2,477,136
82$3,828,185$0$0$2,677,400
83$4,139,763$0$0$2,896,439
84$4,480,637$0$0$3,136,118
85$4,853,716$0$0$3,398,488
86$5,262,205$0$0$3,685,809
87$5,709,633$0$0$4,000,566
88$6,199,885$0$0$4,345,502
89$6,737,240$0$0$4,723,633
90$7,326,412$0$0$5,138,282
91$7,972,592$0$0$5,593,109
92$8,681,497$0$0$6,092,147
93$9,459,425$0$0$6,639,836
94$10,313,312$0$0$7,241,067
95$11,250,801$0$0$7,901,228
96$12,280,307$0$0$8,626,256
97$13,411,104$0$0$9,422,688
98$14,653,406$0$0$10,297,728
99$16,018,465$0$0$11,259,310
100$17,518,678$0$0$12,316,178