Can I retire at age 55 with 707,000?

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 $707,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$58,383$57,863$57,356$56,861$56,377$56,022
2 years$28,903$28,364$27,843$27,337$26,846$26,488
3 years$19,077$18,536$18,016$17,515$17,032$16,682
4 years$14,165$13,626$13,111$12,619$12,148$11,808
5 years$11,219$10,683$10,175$9,692$9,234$8,906
6 years$9,255$8,724$8,223$7,751$7,307$6,991
7 years$7,853$7,326$6,833$6,373$5,942$5,639
8 years$6,802$6,280$5,795$5,346$4,930$4,639
9 years$5,985$5,468$4,991$4,553$4,152$3,873
10 years$5,332$4,819$4,351$3,925$3,537$3,270
11 years$4,798$4,291$3,831$3,416$3,042$2,787
12 years$4,353$3,851$3,400$2,996$2,636$2,393
13 years$3,977$3,480$3,038$2,645$2,299$2,067
14 years$3,655$3,163$2,729$2,348$2,015$1,794
15 years$3,376$2,890$2,464$2,094$1,774$1,564
16 years$3,132$2,651$2,234$1,875$1,568$1,369
17 years$2,917$2,442$2,033$1,685$1,390$1,201
18 years$2,727$2,256$1,856$1,518$1,236$1,057
19 years$2,556$2,091$1,699$1,372$1,102$932
20 years$2,403$1,943$1,559$1,243$984$824
21 years$2,264$1,810$1,434$1,128$881$729
22 years$2,139$1,690$1,322$1,025$790$646
23 years$2,024$1,580$1,220$934$709$574
24 years$1,919$1,481$1,129$852$637$510
25 years$1,823$1,389$1,045$778$573$454
26 years$1,734$1,306$970$711$516$404
27 years$1,652$1,229$900$651$466$360
28 years$1,576$1,158$837$596$420$321
29 years$1,505$1,092$779$547$379$286
30 years$1,439$1,032$725$502$343$256
31 years$1,378$975$676$461$310$228
32 years$1,320$923$631$424$280$204
33 years$1,266$874$589$390$254$182
34 years$1,215$828$551$358$230$163
35 years$1,168$786$515$330$208$146
36 years$1,123$746$481$304$188$131
37 years$1,080$708$451$280$171$117
38 years$1,040$673$422$258$155$105
39 years$1,003$640$395$238$140$94
40 years$967$609$371$219$127$84
41 years$932$580$348$203$116$75
42 years$900$552$326$187$105$67
43 years$869$526$306$173$95$60
44 years$840$501$287$159$86$54
45 years$812$478$270$147$78$48
46 years$785$456$253$136$71$43
47 years$760$435$238$126$65$39
48 years$736$415$224$116$59$35
49 years$713$397$210$107$53$31
50 years$690$379$198$99$48$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $707,000, adding $3,457 every year, while hoping to spend $56,397 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: 60/14/26 Blend
54$707,000$707,000$707,000$707,000
55$782,680$745,209$734,250$823,976
56$802,507$721,718$698,842$829,002
57$822,467$695,186$660,357$828,106
58$842,513$665,404$618,633$825,925
59$862,592$632,152$573,500$822,345
60$882,645$595,196$524,781$817,244
61$902,603$554,289$472,290$810,492
62$922,390$509,171$415,833$801,948
63$941,918$459,565$355,208$791,460
64$961,090$405,180$290,203$778,862
65$979,795$345,707$220,599$763,978
66$997,909$280,822$146,164$746,616
67$1,015,293$210,179$66,657$726,570
68$1,031,791$133,417$0$703,615
69$1,047,230$50,150$0$682,557
70$1,061,415$0$0$678,150
71$1,074,129$0$0$677,842
72$1,085,130$0$0$684,096
73$1,094,148$0$0$689,007
74$1,100,884$0$0$692,375
75$1,105,004$0$0$693,980
76$1,106,136$0$0$693,574
77$1,103,869$0$0$690,885
78$1,097,745$0$0$685,607
79$1,087,257$0$0$677,406
80$1,071,842$0$0$665,906
81$1,050,876$0$0$650,695
82$1,023,667$0$0$631,314
83$989,448$0$0$607,255
84$947,373$0$0$577,955
85$896,502$0$0$542,793
86$835,795$0$0$501,079
87$764,104$0$0$452,053
88$680,156$0$0$394,872
89$582,546$0$0$328,605
90$469,720$0$0$252,222
91$339,960$0$0$164,587
92$191,368$0$0$64,442
93$21,847$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0