Can I retire at age 55 with 693,000?

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 $693,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$57,227$56,718$56,220$55,735$55,261$53,599
2 years$28,330$27,803$27,291$26,796$26,315$24,655
3 years$18,699$18,169$17,659$17,168$16,695$15,089
4 years$13,885$13,356$12,851$12,369$11,907$10,367
5 years$10,997$10,472$9,973$9,500$9,052$7,581
6 years$9,072$8,551$8,060$7,598$7,162$5,763
7 years$7,698$7,181$6,698$6,246$5,825$4,497
8 years$6,668$6,155$5,680$5,240$4,832$3,575
9 years$5,867$5,359$4,892$4,463$4,069$2,882
10 years$5,226$4,724$4,265$3,847$3,467$2,347
11 years$4,703$4,206$3,755$3,348$2,982$1,927
12 years$4,267$3,775$3,333$2,937$2,584$1,593
13 years$3,898$3,411$2,977$2,593$2,253$1,323
14 years$3,583$3,101$2,675$2,302$1,975$1,104
15 years$3,309$2,833$2,415$2,053$1,739$924
16 years$3,070$2,599$2,190$1,838$1,537$776
17 years$2,860$2,393$1,993$1,651$1,363$653
18 years$2,673$2,212$1,819$1,488$1,212$550
19 years$2,506$2,050$1,665$1,345$1,080$465
20 years$2,355$1,905$1,528$1,218$965$393
21 years$2,220$1,774$1,406$1,105$863$333
22 years$2,096$1,656$1,296$1,005$774$282
23 years$1,984$1,549$1,196$915$695$239
24 years$1,881$1,451$1,106$835$624$203
25 years$1,787$1,362$1,025$762$562$172
26 years$1,700$1,280$950$697$506$146
27 years$1,619$1,205$882$638$456$124
28 years$1,545$1,135$820$585$412$106
29 years$1,475$1,071$763$536$372$90
30 years$1,411$1,011$711$492$336$76
31 years$1,350$956$663$452$304$65
32 years$1,294$905$619$415$275$55
33 years$1,241$857$578$382$249$47
34 years$1,191$812$540$351$225$40
35 years$1,145$770$505$323$204$34
36 years$1,101$731$472$298$185$29
37 years$1,059$694$442$274$167$25
38 years$1,020$660$414$253$152$21
39 years$983$627$388$233$138$18
40 years$947$597$363$215$125$15
41 years$914$568$341$198$113$13
42 years$882$541$320$183$103$11
43 years$852$516$300$169$93$9
44 years$823$491$281$156$85$8
45 years$796$469$264$144$77$7
46 years$770$447$248$133$70$6
47 years$745$427$233$123$63$5
48 years$721$407$219$114$58$4
49 years$698$389$206$105$52$4
50 years$677$372$194$97$47$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $693,000, adding $6,694 every year, while hoping to spend $35,017 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: 75/15/10 Blend
54$693,000$693,000$693,000$693,000
55$770,591$733,862$723,120$826,499
56$811,933$732,563$710,087$862,968
57$856,319$730,027$695,444$897,843
58$904,022$726,157$679,099$935,076
59$955,341$720,848$660,958$974,890
60$1,010,607$713,990$640,921$1,017,530
61$1,070,181$705,468$618,885$1,063,266
62$1,134,462$695,159$594,739$1,112,396
63$1,203,886$682,930$568,372$1,165,248
64$1,278,932$668,643$539,662$1,222,186
65$1,360,129$652,153$508,487$1,283,610
66$1,448,057$633,303$474,716$1,349,962
67$1,543,353$611,929$438,213$1,421,728
68$1,646,719$587,857$398,837$1,499,446
69$1,758,925$560,903$356,439$1,583,710
70$1,880,819$530,872$310,863$1,675,173
71$2,013,335$497,557$261,950$1,774,558
72$2,157,499$460,741$209,529$1,882,662
73$2,314,440$420,193$153,424$2,000,363
74$2,485,401$375,670$93,452$2,128,632
75$2,671,748$326,915$29,419$2,268,537
76$2,874,988$273,654$0$2,421,260
77$3,096,775$215,602$0$2,592,255
78$3,338,934$152,454$0$2,782,427
79$3,603,471$83,890$0$2,990,241
80$3,892,595$9,571$0$3,217,469
81$4,208,740$0$0$3,466,067
82$4,554,583$0$0$3,749,885
83$4,933,074$0$0$4,062,251
84$5,347,459$0$0$4,404,270
85$5,801,314$0$0$4,778,896
86$6,298,578$0$0$5,189,385
87$6,843,588$0$0$5,639,318
88$7,441,118$0$0$6,132,645
89$8,096,430$0$0$6,673,711
90$8,815,319$0$0$7,267,305
91$9,604,165$0$0$7,918,702
92$10,469,998$0$0$8,633,710
93$11,420,562$0$0$9,418,730
94$12,464,386$0$0$10,280,809
95$13,610,866$0$0$11,227,713
96$14,870,353$0$0$12,267,997
97$16,254,251$0$0$13,411,084
98$17,775,120$0$0$14,667,356
99$19,446,800$0$0$16,048,250
100$21,284,538$0$0$17,566,368