Can I retire at age 55 with 705,000?

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 $705,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$58,218$57,700$57,194$56,700$56,218$54,659
2 years$28,821$28,284$27,764$27,260$26,770$25,212
3 years$19,023$18,484$17,965$17,465$16,984$15,474
4 years$14,125$13,588$13,074$12,583$12,113$10,664
5 years$11,187$10,653$10,146$9,665$9,208$7,823
6 years$9,229$8,699$8,199$7,729$7,286$5,967
7 years$7,831$7,305$6,814$6,354$5,926$4,672
8 years$6,783$6,262$5,779$5,331$4,916$3,727
9 years$5,968$5,452$4,977$4,541$4,140$3,015
10 years$5,317$4,806$4,339$3,914$3,527$2,465
11 years$4,784$4,278$3,820$3,406$3,034$2,032
12 years$4,341$3,840$3,390$2,988$2,629$1,686
13 years$3,966$3,470$3,029$2,638$2,292$1,406
14 years$3,645$3,154$2,722$2,342$2,010$1,178
15 years$3,366$2,882$2,457$2,088$1,769$990
16 years$3,123$2,644$2,228$1,870$1,564$835
17 years$2,909$2,435$2,027$1,680$1,387$706
18 years$2,719$2,250$1,851$1,514$1,233$598
19 years$2,549$2,085$1,694$1,368$1,099$507
20 years$2,396$1,938$1,555$1,239$982$431
21 years$2,258$1,805$1,430$1,124$878$366
22 years$2,133$1,685$1,318$1,022$787$312
23 years$2,018$1,576$1,217$931$707$266
24 years$1,914$1,476$1,126$849$635$226
25 years$1,818$1,385$1,042$776$572$193
26 years$1,729$1,302$967$709$515$165
27 years$1,647$1,225$898$649$464$141
28 years$1,571$1,155$835$595$419$120
29 years$1,501$1,089$777$545$378$103
30 years$1,435$1,029$723$501$342$88
31 years$1,374$973$674$460$309$75
32 years$1,316$920$629$422$279$64
33 years$1,263$871$588$388$253$55
34 years$1,212$826$549$357$229$47
35 years$1,164$783$513$329$207$40
36 years$1,120$744$480$303$188$34
37 years$1,077$706$449$279$170$29
38 years$1,037$671$421$257$154$25
39 years$1,000$638$394$237$140$22
40 years$964$607$370$219$127$18
41 years$930$578$347$202$115$16
42 years$898$550$325$186$105$14
43 years$867$524$305$172$95$12
44 years$838$500$286$159$86$10
45 years$810$477$269$147$78$8
46 years$783$455$253$136$71$7
47 years$758$434$237$125$64$6
48 years$734$414$223$116$59$5
49 years$710$396$210$107$53$5
50 years$688$378$197$99$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $705,000, adding $6,399 every year, while hoping to spend $42,561 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: 38/41/21 Blend
54$705,000$705,000$705,000$705,000
55$783,511$746,146$735,218$808,146
56$818,144$737,422$714,563$817,833
57$854,884$726,845$691,790$823,820
58$893,899$714,278$666,783$829,423
59$935,377$699,577$639,420$834,631
60$979,520$682,591$609,575$839,436
61$1,026,550$663,157$577,115$843,833
62$1,076,712$641,105$541,902$847,822
63$1,130,272$616,255$503,791$851,405
64$1,187,523$588,415$462,631$854,589
65$1,248,785$557,382$418,264$857,388
66$1,314,410$522,943$370,525$859,820
67$1,384,784$484,871$319,242$861,914
68$1,460,330$442,927$264,234$863,703
69$1,541,511$396,859$205,314$865,234
70$1,628,839$346,398$142,285$866,561
71$1,722,871$291,263$74,943$867,755
72$1,824,224$231,154$3,073$868,897
73$1,933,572$165,757$0$870,086
74$2,051,656$94,739$0$887,936
75$2,179,292$17,749$0$907,895
76$2,317,375$0$0$929,489
77$2,466,890$0$0$982,550
78$2,628,920$0$0$1,048,812
79$2,804,655$0$0$1,120,762
80$2,995,404$0$0$1,198,948
81$3,202,606$0$0$1,283,971
82$3,427,846$0$0$1,376,492
83$3,672,865$0$0$1,477,239
84$3,939,581$0$0$1,587,013
85$4,230,102$0$0$1,706,696
86$4,546,750$0$0$1,837,257
87$4,892,078$0$0$1,979,765
88$5,268,900$0$0$2,135,394
89$5,680,309$0$0$2,305,439
90$6,129,713$0$0$2,491,324
91$6,620,860$0$0$2,694,617
92$7,157,882$0$0$2,917,045
93$7,745,322$0$0$3,160,510
94$8,388,188$0$0$3,427,104
95$9,091,991$0$0$3,719,134
96$9,862,800$0$0$4,039,139
97$10,707,299$0$0$4,389,915
98$11,632,850$0$0$4,774,542
99$12,647,560$0$0$5,196,411
100$13,760,357$0$0$5,659,260