Can I retire at age 55 with 689,000?

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 $689,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$56,897$56,390$55,896$55,413$54,942$54,504
2 years$28,167$27,642$27,134$26,641$26,163$25,722
3 years$18,591$18,065$17,557$17,069$16,599$16,168
4 years$13,805$13,279$12,777$12,297$11,838$11,421
5 years$10,933$10,411$9,916$9,446$8,999$8,597
6 years$9,020$8,501$8,013$7,554$7,121$6,733
7 years$7,653$7,140$6,659$6,210$5,791$5,419
8 years$6,629$6,120$5,647$5,210$4,804$4,448
9 years$5,833$5,328$4,864$4,437$4,046$3,704
10 years$5,196$4,697$4,241$3,825$3,447$3,121
11 years$4,676$4,181$3,733$3,329$2,965$2,653
12 years$4,242$3,753$3,313$2,920$2,569$2,272
13 years$3,876$3,392$2,960$2,578$2,240$1,958
14 years$3,562$3,083$2,660$2,288$1,964$1,695
15 years$3,290$2,816$2,401$2,041$1,729$1,474
16 years$3,053$2,584$2,177$1,827$1,528$1,286
17 years$2,843$2,380$1,981$1,642$1,355$1,126
18 years$2,657$2,199$1,809$1,480$1,205$988
19 years$2,491$2,038$1,656$1,337$1,074$869
20 years$2,342$1,894$1,519$1,211$959$765
21 years$2,207$1,764$1,398$1,099$858$675
22 years$2,084$1,647$1,288$999$769$597
23 years$1,973$1,540$1,189$910$691$528
24 years$1,870$1,443$1,100$830$621$468
25 years$1,776$1,354$1,019$758$559$415
26 years$1,690$1,273$945$693$503$368
27 years$1,610$1,198$877$634$454$327
28 years$1,536$1,129$816$581$409$291
29 years$1,467$1,065$759$533$370$259
30 years$1,403$1,005$707$489$334$230
31 years$1,343$950$659$449$302$205
32 years$1,286$899$615$413$273$183
33 years$1,234$852$574$380$247$163
34 years$1,185$807$537$349$224$145
35 years$1,138$766$502$322$203$129
36 years$1,094$727$469$296$184$115
37 years$1,053$690$439$273$166$103
38 years$1,014$656$411$252$151$92
39 years$977$624$385$232$137$82
40 years$942$593$361$214$124$73
41 years$909$565$339$197$113$65
42 years$877$538$318$182$102$58
43 years$847$513$298$168$93$52
44 years$819$489$280$155$84$46
45 years$791$466$263$143$76$41
46 years$765$444$247$132$69$37
47 years$741$424$232$122$63$33
48 years$717$405$218$113$57$30
49 years$694$387$205$104$52$26
50 years$673$369$193$97$47$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $689,000, adding $2,041 every year, while hoping to spend $28,886 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: 72/7/21 Blend
54$689,000$689,000$689,000$689,000
55$761,383$724,866$714,187$812,166
56$808,310$729,650$707,378$851,028
57$859,055$733,701$699,372$889,932
58$913,977$736,951$690,100$931,820
59$973,472$739,330$679,487$976,983
60$1,037,972$740,763$667,456$1,025,743
61$1,107,955$741,171$653,926$1,078,456
62$1,183,946$740,468$638,812$1,135,513
63$1,266,522$738,564$622,025$1,197,347
64$1,356,318$735,364$603,474$1,264,435
65$1,454,032$730,767$583,060$1,337,301
66$1,560,433$724,664$560,682$1,416,526
67$1,676,367$716,943$536,235$1,502,751
68$1,802,765$707,481$509,607$1,596,680
69$1,940,650$696,151$480,682$1,699,092
70$2,091,151$682,817$449,340$1,810,845
71$2,255,508$667,335$415,452$1,932,887
72$2,435,088$649,552$378,888$2,066,261
73$2,631,396$629,309$339,509$2,212,119
74$2,846,086$606,433$297,171$2,371,732
75$3,080,983$580,744$251,722$2,546,500
76$3,338,094$552,051$203,005$2,737,968
77$3,619,630$520,152$150,857$2,947,841
78$3,928,026$484,833$95,104$3,177,997
79$4,265,962$445,868$35,568$3,430,508
80$4,636,393$403,018$0$3,707,658
81$5,042,570$356,031$0$4,018,235
82$5,488,074$304,639$0$4,367,663
83$5,976,852$248,560$0$4,751,072
84$6,513,248$187,497$0$5,171,889
85$7,102,049$121,134$0$5,633,887
86$7,748,529$49,140$0$6,141,226
87$8,458,494$0$0$6,698,489
88$9,238,344$0$0$7,312,945
89$10,095,127$0$0$7,992,211
90$11,036,607$0$0$8,738,662
91$12,071,339$0$0$9,559,086
92$13,208,748$0$0$10,460,960
93$14,459,215$0$0$11,452,520
94$15,834,180$0$0$12,542,842
95$17,346,246$0$0$13,741,925
96$19,009,296$0$0$15,060,786
97$20,838,631$0$0$16,511,562
98$22,851,105$0$0$18,107,626
99$25,065,290$0$0$19,863,713
100$27,501,647$0$0$21,796,058