Can I retire at age 55 with 706,000?

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 $706,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$58,301$57,782$57,275$56,780$56,297$55,525
2 years$28,862$28,324$27,803$27,298$26,808$26,031
3 years$19,050$18,510$17,991$17,490$17,008$16,251
4 years$14,145$13,607$13,093$12,601$12,130$11,399
5 years$11,203$10,668$10,160$9,679$9,221$8,517
6 years$9,242$8,711$8,211$7,740$7,297$6,621
7 years$7,842$7,316$6,823$6,364$5,934$5,287
8 years$6,793$6,271$5,787$5,338$4,923$4,305
9 years$5,977$5,460$4,984$4,547$4,146$3,556
10 years$5,324$4,813$4,345$3,920$3,532$2,971
11 years$4,791$4,284$3,826$3,411$3,038$2,504
12 years$4,347$3,845$3,395$2,992$2,633$2,125
13 years$3,971$3,475$3,033$2,642$2,296$1,815
14 years$3,650$3,159$2,725$2,345$2,012$1,557
15 years$3,371$2,886$2,461$2,091$1,772$1,341
16 years$3,128$2,648$2,231$1,872$1,566$1,159
17 years$2,913$2,438$2,030$1,682$1,389$1,004
18 years$2,723$2,253$1,853$1,516$1,235$872
19 years$2,553$2,088$1,697$1,370$1,100$759
20 years$2,399$1,940$1,557$1,241$983$662
21 years$2,261$1,807$1,432$1,126$880$578
22 years$2,136$1,687$1,320$1,024$788$506
23 years$2,021$1,578$1,219$932$708$443
24 years$1,916$1,478$1,127$850$636$388
25 years$1,820$1,387$1,044$777$572$341
26 years$1,731$1,304$968$710$516$299
27 years$1,650$1,227$899$650$465$263
28 years$1,574$1,156$836$596$419$231
29 years$1,503$1,091$778$546$379$203
30 years$1,437$1,030$724$501$342$179
31 years$1,376$974$675$460$309$157
32 years$1,318$922$630$423$280$138
33 years$1,264$873$588$389$253$122
34 years$1,214$827$550$358$229$107
35 years$1,166$785$514$330$208$95
36 years$1,121$745$481$303$188$83
37 years$1,079$707$450$280$171$73
38 years$1,039$672$421$258$155$65
39 years$1,001$639$395$238$140$57
40 years$965$608$370$219$127$50
41 years$931$579$347$202$115$44
42 years$899$551$326$187$105$39
43 years$868$525$305$172$95$35
44 years$839$501$287$159$86$30
45 years$811$477$269$147$78$27
46 years$784$455$253$136$71$24
47 years$759$435$238$125$65$21
48 years$735$415$223$116$59$18
49 years$712$396$210$107$53$16
50 years$689$378$197$99$48$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $706,000, adding $4,757 every year, while hoping to spend $45,228 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: 54/17/29 Blend
54$706,000$706,000$706,000$706,000
55$782,919$745,501$734,558$818,644
56$814,654$733,908$711,043$832,292
57$848,111$720,232$685,225$842,135
58$883,417$704,321$656,979$851,956
59$920,711$686,018$626,173$861,770
60$960,145$665,155$592,671$871,596
61$1,001,885$641,553$556,332$881,460
62$1,046,113$615,025$517,004$891,391
63$1,093,027$585,371$474,534$901,424
64$1,142,842$552,381$428,757$911,603
65$1,195,795$515,831$379,504$921,977
66$1,252,146$475,486$326,597$932,605
67$1,312,177$431,098$269,851$943,556
68$1,376,200$382,402$209,071$954,910
69$1,444,554$329,121$144,056$966,759
70$1,517,611$270,961$74,595$979,210
71$1,595,780$207,610$466$992,383
72$1,679,508$138,742$0$1,006,418
73$1,769,287$64,009$0$1,045,808
74$1,865,655$0$0$1,088,134
75$1,969,203$0$0$1,136,707
76$2,080,581$0$0$1,201,879
77$2,200,500$0$0$1,272,100
78$2,329,745$0$0$1,347,833
79$2,469,172$0$0$1,429,590
80$2,619,728$0$0$1,517,930
81$2,782,450$0$0$1,613,470
82$2,958,478$0$0$1,716,888
83$3,149,066$0$0$1,828,928
84$3,355,592$0$0$1,950,410
85$3,579,571$0$0$2,082,232
86$3,822,669$0$0$2,225,386
87$4,086,720$0$0$2,380,962
88$4,373,740$0$0$2,550,156
89$4,685,946$0$0$2,734,288
90$5,025,778$0$0$2,934,807
91$5,395,923$0$0$3,153,311
92$5,799,334$0$0$3,391,555
93$6,239,263$0$0$3,651,474
94$6,719,289$0$0$3,935,194
95$7,243,353$0$0$4,245,059
96$7,815,789$0$0$4,583,647
97$8,441,373$0$0$4,953,797
98$9,125,360$0$0$5,358,635
99$9,873,538$0$0$5,801,603
100$10,692,277$0$0$6,286,489