Can I retire at age 55 with 694,000?

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 $694,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$57,310$56,799$56,301$55,815$55,341$53,250
2 years$28,371$27,843$27,331$26,834$26,353$24,271
3 years$18,726$18,196$17,685$17,193$16,719$14,711
4 years$13,905$13,376$12,870$12,387$11,924$10,006
5 years$11,013$10,487$9,988$9,514$9,065$7,241
6 years$9,085$8,563$8,072$7,608$7,173$5,444
7 years$7,709$7,191$6,707$6,255$5,833$4,200
8 years$6,677$6,164$5,688$5,247$4,839$3,300
9 years$5,875$5,367$4,899$4,470$4,075$2,627
10 years$5,234$4,731$4,271$3,853$3,472$2,113
11 years$4,710$4,212$3,761$3,353$2,986$1,713
12 years$4,273$3,780$3,337$2,941$2,588$1,397
13 years$3,904$3,416$2,982$2,597$2,257$1,145
14 years$3,588$3,105$2,679$2,305$1,978$942
15 years$3,314$2,837$2,419$2,056$1,742$777
16 years$3,075$2,603$2,193$1,841$1,539$643
17 years$2,864$2,397$1,996$1,654$1,365$533
18 years$2,676$2,215$1,822$1,490$1,214$443
19 years$2,509$2,053$1,668$1,347$1,082$368
20 years$2,359$1,907$1,531$1,220$966$307
21 years$2,223$1,777$1,408$1,107$865$256
22 years$2,099$1,658$1,297$1,006$775$213
23 years$1,987$1,551$1,198$917$696$178
24 years$1,884$1,453$1,108$836$625$149
25 years$1,789$1,364$1,026$763$563$124
26 years$1,702$1,282$952$698$507$104
27 years$1,621$1,206$884$639$457$87
28 years$1,547$1,137$822$585$412$73
29 years$1,477$1,072$765$537$372$61
30 years$1,413$1,013$712$493$336$51
31 years$1,352$957$664$453$304$43
32 years$1,296$906$619$416$275$36
33 years$1,243$858$578$382$249$30
34 years$1,193$813$540$352$225$25
35 years$1,146$771$505$324$204$21
36 years$1,102$732$473$298$185$17
37 years$1,061$695$442$275$168$15
38 years$1,021$661$414$253$152$12
39 years$984$628$388$234$138$10
40 years$949$598$364$215$125$9
41 years$915$569$341$199$113$7
42 years$884$542$320$183$103$6
43 years$853$516$300$169$93$5
44 years$825$492$282$156$85$4
45 years$797$469$265$144$77$4
46 years$771$448$249$133$70$3
47 years$746$427$234$123$63$2
48 years$722$408$219$114$58$2
49 years$699$389$206$105$52$2
50 years$678$372$194$97$48$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $694,000, adding $6,639 every year, while hoping to spend $46,093 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: 66/19/15 Blend
54$694,000$694,000$694,000$694,000
55$771,636$734,854$724,097$819,384
56$801,300$721,819$699,312$839,083
57$832,446$706,601$672,151$854,618
58$865,174$689,044$642,487$870,454
59$899,597$668,982$610,186$886,619
60$935,836$646,242$575,107$903,144
61$974,022$620,639$537,104$920,066
62$1,014,300$591,977$496,024$937,427
63$1,056,824$560,050$451,707$955,275
64$1,101,767$524,640$403,986$973,664
65$1,149,315$485,514$352,687$992,656
66$1,199,669$442,429$297,627$1,012,324
67$1,253,054$395,126$238,615$1,032,748
68$1,309,710$343,332$175,454$1,054,018
69$1,369,905$286,760$107,936$1,076,239
70$1,433,927$225,103$35,843$1,099,527
71$1,502,094$158,040$0$1,124,015
72$1,574,755$85,231$0$1,156,428
73$1,652,290$6,317$0$1,196,906
74$1,735,116$0$0$1,239,934
75$1,823,690$0$0$1,302,299
76$1,918,514$0$0$1,370,507
77$2,020,138$0$0$1,443,637
78$2,129,164$0$0$1,522,126
79$2,246,254$0$0$1,606,455
80$2,372,135$0$0$1,697,151
81$2,507,604$0$0$1,794,793
82$2,653,537$0$0$1,900,018
83$2,810,894$0$0$2,013,524
84$2,980,733$0$0$2,136,078
85$3,164,214$0$0$2,268,523
86$3,362,612$0$0$2,411,787
87$3,577,330$0$0$2,566,888
88$3,809,909$0$0$2,734,945
89$4,062,043$0$0$2,917,191
90$4,335,596$0$0$3,114,979
91$4,632,617$0$0$3,329,799
92$4,955,360$0$0$3,563,289
93$5,306,304$0$0$3,817,252
94$5,688,178$0$0$4,093,669
95$6,103,983$0$0$4,394,723
96$6,557,022$0$0$4,722,815
97$7,050,929$0$0$5,080,588
98$7,589,705$0$0$5,470,948
99$8,177,754$0$0$5,897,098
100$8,819,921$0$0$6,362,560