Can I retire at age 55 with 623,000?

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 $623,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$51,447$50,988$50,541$50,105$49,679$48,676
2 years$25,469$24,994$24,535$24,089$23,657$22,650
3 years$16,810$16,334$15,876$15,434$15,009$14,031
4 years$12,482$12,007$11,553$11,119$10,704$9,762
5 years$9,886$9,414$8,966$8,541$8,137$7,234
6 years$8,156$7,687$7,246$6,830$6,439$5,575
7 years$6,920$6,456$6,021$5,615$5,236$4,412
8 years$5,994$5,534$5,106$4,711$4,344$3,559
9 years$5,274$4,818$4,398$4,012$3,658$2,912
10 years$4,698$4,247$3,834$3,459$3,117$2,409
11 years$4,228$3,781$3,376$3,010$2,681$2,010
12 years$3,836$3,393$2,996$2,640$2,323$1,689
13 years$3,504$3,067$2,677$2,331$2,026$1,427
14 years$3,221$2,787$2,405$2,069$1,776$1,211
15 years$2,975$2,546$2,171$1,845$1,564$1,031
16 years$2,760$2,336$1,969$1,652$1,382$881
17 years$2,571$2,152$1,791$1,485$1,225$755
18 years$2,403$1,988$1,635$1,338$1,089$649
19 years$2,252$1,843$1,497$1,209$971$558
20 years$2,117$1,712$1,374$1,095$867$481
21 years$1,995$1,595$1,264$994$776$415
22 years$1,885$1,489$1,165$903$696$358
23 years$1,784$1,392$1,075$823$625$310
24 years$1,691$1,305$995$750$561$268
25 years$1,606$1,224$921$685$505$232
26 years$1,528$1,151$854$627$455$201
27 years$1,456$1,083$793$574$410$175
28 years$1,389$1,020$738$526$370$152
29 years$1,326$963$686$482$334$132
30 years$1,268$909$639$442$302$114
31 years$1,214$859$596$406$273$99
32 years$1,163$813$556$373$247$86
33 years$1,116$770$519$343$224$75
34 years$1,071$730$485$316$202$65
35 years$1,029$692$454$291$183$57
36 years$989$657$424$268$166$49
37 years$952$624$397$247$151$43
38 years$917$593$372$227$136$37
39 years$883$564$348$210$124$32
40 years$852$537$327$193$112$28
41 years$822$511$306$178$102$24
42 years$793$486$287$165$92$21
43 years$766$463$270$152$84$19
44 years$740$442$253$140$76$16
45 years$716$421$238$130$69$14
46 years$692$402$223$120$63$12
47 years$670$384$210$111$57$11
48 years$648$366$197$102$52$9
49 years$628$350$185$94$47$8
50 years$608$334$174$87$43$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $623,000, adding $3,075 every year, while hoping to spend $32,388 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: 84/9/7 Blend
54$623,000$623,000$623,000$623,000
55$689,718$656,699$647,042$746,974
56$725,609$654,417$634,258$782,535
57$764,074$650,937$619,959$816,880
58$805,344$646,167$604,062$853,586
59$849,669$640,008$586,477$892,869
60$897,323$632,357$567,112$934,968
61$948,609$623,101$545,870$980,146
62$1,003,858$612,125$522,648$1,028,690
63$1,063,436$599,303$497,340$1,080,919
64$1,127,741$584,504$469,836$1,137,183
65$1,197,215$567,588$440,020$1,197,868
66$1,272,340$548,409$407,769$1,263,398
67$1,353,647$526,810$372,958$1,334,242
68$1,441,721$502,625$335,454$1,410,915
69$1,537,203$475,681$295,119$1,493,985
70$1,640,801$445,792$251,808$1,584,078
71$1,753,289$412,762$205,370$1,681,883
72$1,875,523$376,386$155,648$1,788,161
73$2,008,441$336,444$102,478$1,903,748
74$2,153,078$292,706$45,687$2,029,568
75$2,310,571$244,927$0$2,166,637
76$2,482,172$192,851$0$2,317,191
77$2,669,257$136,205$0$2,485,065
78$2,873,343$74,700$0$2,668,219
79$3,096,098$8,035$0$2,868,168
80$3,339,359$0$0$3,086,583
81$3,605,148$0$0$3,331,652
82$3,895,690$0$0$3,600,426
83$4,213,436$0$0$3,894,376
84$4,561,084$0$0$4,216,001
85$4,941,605$0$0$4,568,050
86$5,358,271$0$0$4,953,551
87$5,814,685$0$0$5,375,839
88$6,314,814$0$0$5,838,588
89$6,863,028$0$0$6,345,840
90$7,464,138$0$0$6,902,052
91$8,123,446$0$0$7,512,128
92$8,846,789$0$0$8,181,474
93$9,640,598$0$0$8,916,041
94$10,511,956$0$0$9,722,385
95$11,468,665$0$0$10,607,729
96$12,519,319$0$0$11,580,028
97$13,673,387$0$0$12,648,047
98$14,941,299$0$0$13,821,439
99$16,334,544$0$0$15,110,842
100$17,865,780$0$0$16,527,971