Can I retire at age 55 with 688,000?

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 $688,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$56,814$56,308$55,815$55,333$54,862$53,191
2 years$28,126$27,602$27,094$26,602$26,125$24,456
3 years$18,564$18,038$17,532$17,044$16,575$14,960
4 years$13,785$13,260$12,759$12,279$11,821$10,273
5 years$10,917$10,396$9,901$9,432$8,986$7,509
6 years$9,007$8,489$8,002$7,543$7,111$5,705
7 years$7,642$7,129$6,649$6,201$5,783$4,449
8 years$6,619$6,111$5,639$5,202$4,797$3,535
9 years$5,824$5,321$4,857$4,431$4,040$2,847
10 years$5,189$4,690$4,235$3,820$3,442$2,318
11 years$4,669$4,175$3,728$3,324$2,961$1,902
12 years$4,236$3,747$3,309$2,916$2,566$1,571
13 years$3,870$3,387$2,956$2,574$2,237$1,304
14 years$3,557$3,078$2,656$2,285$1,961$1,087
15 years$3,285$2,812$2,398$2,038$1,727$909
16 years$3,048$2,580$2,174$1,825$1,526$763
17 years$2,839$2,376$1,978$1,639$1,353$641
18 years$2,653$2,196$1,806$1,477$1,203$540
19 years$2,487$2,035$1,653$1,335$1,072$456
20 years$2,338$1,891$1,517$1,209$958$385
21 years$2,204$1,761$1,396$1,097$857$326
22 years$2,081$1,644$1,286$998$768$276
23 years$1,970$1,538$1,188$909$690$234
24 years$1,868$1,441$1,098$829$620$198
25 years$1,774$1,352$1,017$757$558$168
26 years$1,687$1,271$944$692$502$143
27 years$1,607$1,196$876$633$453$121
28 years$1,533$1,127$814$580$409$103
29 years$1,465$1,063$758$532$369$87
30 years$1,400$1,004$706$488$334$74
31 years$1,341$949$658$449$302$63
32 years$1,285$898$614$412$273$54
33 years$1,232$850$573$379$247$46
34 years$1,183$806$536$349$223$39
35 years$1,136$765$501$321$202$33
36 years$1,093$726$469$296$183$28
37 years$1,051$689$439$272$166$24
38 years$1,012$655$411$251$151$20
39 years$976$623$385$232$137$17
40 years$941$593$361$214$124$15
41 years$907$564$338$197$112$13
42 years$876$537$317$182$102$11
43 years$846$512$298$168$93$9
44 years$817$488$279$155$84$8
45 years$790$465$262$143$76$7
46 years$764$444$246$132$69$6
47 years$740$424$232$122$63$5
48 years$716$404$218$113$57$4
49 years$693$386$204$104$52$3
50 years$672$369$192$96$47$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $688,000, adding $6,278 every year, while hoping to spend $54,016 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: 46/40/14 Blend
54$688,000$688,000$688,000$688,000
55$764,652$728,188$717,524$796,522
56$785,174$706,396$684,088$797,497
57$805,978$681,727$647,722$792,560
58$827,038$653,981$608,270$786,018
59$848,319$622,949$565,571$777,744
60$869,784$588,410$519,454$767,601
61$891,389$550,129$469,743$755,443
62$913,083$507,859$416,252$741,115
63$934,810$461,336$358,788$724,449
64$956,504$410,284$297,151$705,266
65$978,090$354,411$231,128$683,376
66$999,484$293,406$160,500$658,575
67$1,020,592$226,944$85,038$630,645
68$1,041,307$154,679$4,501$599,352
69$1,061,508$76,245$0$564,445
70$1,081,060$0$0$537,824
71$1,099,812$0$0$512,392
72$1,117,593$0$0$519,984
73$1,134,215$0$0$526,944
74$1,149,465$0$0$533,162
75$1,163,106$0$0$538,517
76$1,174,875$0$0$542,874
77$1,184,479$0$0$546,082
78$1,191,589$0$0$547,974
79$1,195,844$0$0$548,365
80$1,196,837$0$0$547,047
81$1,194,121$0$0$543,791
82$1,187,197$0$0$538,343
83$1,175,512$0$0$530,420
84$1,158,453$0$0$519,710
85$1,135,339$0$0$505,865
86$1,105,417$0$0$488,503
87$1,067,853$0$0$467,198
88$1,021,722$0$0$441,479
89$966,002$0$0$410,825
90$899,561$0$0$374,660
91$821,145$0$0$332,347
92$729,371$0$0$283,182
93$622,707$0$0$226,386
94$499,460$0$0$161,097
95$357,759$0$0$86,365
96$195,535$0$0$1,138
97$10,505$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0