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%13.7%
1 years$56,814$56,308$55,815$55,333$54,862$54,020
2 years$28,126$27,602$27,094$26,602$26,125$25,278
3 years$18,564$18,038$17,532$17,044$16,575$15,750
4 years$13,785$13,260$12,759$12,279$11,821$11,025
5 years$10,917$10,396$9,901$9,432$8,986$8,221
6 years$9,007$8,489$8,002$7,543$7,111$6,377
7 years$7,642$7,129$6,649$6,201$5,783$5,081
8 years$6,619$6,111$5,639$5,202$4,797$4,127
9 years$5,824$5,321$4,857$4,431$4,040$3,401
10 years$5,189$4,690$4,235$3,820$3,442$2,835
11 years$4,669$4,175$3,728$3,324$2,961$2,383
12 years$4,236$3,747$3,309$2,916$2,566$2,018
13 years$3,870$3,387$2,956$2,574$2,237$1,718
14 years$3,557$3,078$2,656$2,285$1,961$1,470
15 years$3,285$2,812$2,398$2,038$1,727$1,263
16 years$3,048$2,580$2,174$1,825$1,526$1,088
17 years$2,839$2,376$1,978$1,639$1,353$940
18 years$2,653$2,196$1,806$1,477$1,203$815
19 years$2,487$2,035$1,653$1,335$1,072$707
20 years$2,338$1,891$1,517$1,209$958$615
21 years$2,204$1,761$1,396$1,097$857$535
22 years$2,081$1,644$1,286$998$768$467
23 years$1,970$1,538$1,188$909$690$407
24 years$1,868$1,441$1,098$829$620$356
25 years$1,774$1,352$1,017$757$558$311
26 years$1,687$1,271$944$692$502$272
27 years$1,607$1,196$876$633$453$239
28 years$1,533$1,127$814$580$409$209
29 years$1,465$1,063$758$532$369$183
30 years$1,400$1,004$706$488$334$161
31 years$1,341$949$658$449$302$141
32 years$1,285$898$614$412$273$124
33 years$1,232$850$573$379$247$109
34 years$1,183$806$536$349$223$95
35 years$1,136$765$501$321$202$84
36 years$1,093$726$469$296$183$73
37 years$1,051$689$439$272$166$65
38 years$1,012$655$411$251$151$57
39 years$976$623$385$232$137$50
40 years$941$593$361$214$124$44
41 years$907$564$338$197$112$38
42 years$876$537$317$182$102$34
43 years$846$512$298$168$93$30
44 years$817$488$279$155$84$26
45 years$790$465$262$143$76$23
46 years$764$444$246$132$69$20
47 years$740$424$232$122$63$18
48 years$716$404$218$113$57$16
49 years$693$386$204$104$52$14
50 years$672$369$192$96$47$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $688,000, adding $5,291 every year, while hoping to spend $40,205 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: 51/20/29 Blend
54$688,000$688,000$688,000$688,000
55$763,634$727,170$716,506$796,095
56$798,746$720,023$697,731$812,153
57$836,093$711,179$676,979$825,164
58$875,860$700,512$654,143$838,530
59$918,248$687,888$629,108$852,304
60$963,482$673,166$601,755$866,546
61$1,011,803$656,198$571,960$881,323
62$1,063,481$636,825$539,594$896,714
63$1,118,806$614,879$504,521$912,807
64$1,178,100$590,184$466,598$929,704
65$1,241,715$562,552$425,678$947,519
66$1,310,037$531,784$381,605$966,381
67$1,383,491$497,672$334,219$986,436
68$1,462,541$459,992$283,350$1,007,848
69$1,547,700$418,512$228,822$1,030,803
70$1,639,528$372,982$170,450$1,055,510
71$1,738,643$323,141$108,043$1,082,202
72$1,845,722$268,711$41,400$1,111,143
73$1,961,509$209,402$0$1,142,626
74$2,086,824$144,904$0$1,186,179
75$2,222,566$74,890$0$1,247,242
76$2,369,724$0$0$1,313,476
77$2,529,387$0$0$1,385,631
78$2,702,752$0$0$1,481,933
79$2,891,133$0$0$1,586,639
80$3,095,979$0$0$1,700,562
81$3,318,883$0$0$1,824,597
82$3,561,598$0$0$1,959,725
83$3,826,051$0$0$2,107,032
84$4,114,365$0$0$2,267,706
85$4,428,876$0$0$2,443,062
86$4,772,155$0$0$2,634,540
87$5,147,032$0$0$2,843,732
88$5,556,621$0$0$3,072,386
89$6,004,354$0$0$3,322,429
90$6,494,006$0$0$3,595,980
91$7,029,733$0$0$3,895,376
92$7,616,116$0$0$4,223,187
93$8,258,194$0$0$4,582,245
94$8,961,518$0$0$4,975,669
95$9,732,203$0$0$5,406,891
96$10,576,981$0$0$5,879,695
97$11,503,268$0$0$6,398,246
98$12,519,230$0$0$6,967,132
99$13,633,862$0$0$7,591,406
100$14,857,074$0$0$8,276,636