Can I retire at age 55 with 708,000?

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 $708,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$58,466$57,945$57,437$56,941$56,457$56,148
2 years$28,944$28,405$27,882$27,376$26,884$26,573
3 years$19,104$18,563$18,042$17,540$17,056$16,752
4 years$14,185$13,646$13,130$12,636$12,165$11,869
5 years$11,235$10,698$10,189$9,706$9,248$8,962
6 years$9,268$8,736$8,234$7,762$7,317$7,042
7 years$7,864$7,336$6,843$6,382$5,951$5,686
8 years$6,812$6,289$5,803$5,353$4,937$4,683
9 years$5,994$5,475$4,998$4,560$4,158$3,914
10 years$5,339$4,826$4,358$3,931$3,542$3,310
11 years$4,805$4,297$3,836$3,421$3,047$2,824
12 years$4,359$3,856$3,405$3,001$2,640$2,428
13 years$3,983$3,485$3,042$2,649$2,302$2,100
14 years$3,660$3,168$2,733$2,351$2,018$1,825
15 years$3,381$2,894$2,468$2,097$1,777$1,593
16 years$3,137$2,655$2,237$1,878$1,570$1,396
17 years$2,922$2,445$2,036$1,687$1,392$1,227
18 years$2,730$2,259$1,858$1,520$1,238$1,081
19 years$2,560$2,094$1,701$1,374$1,104$955
20 years$2,406$1,946$1,561$1,244$986$845
21 years$2,268$1,813$1,436$1,129$882$749
22 years$2,142$1,692$1,324$1,027$791$665
23 years$2,027$1,582$1,222$935$710$591
24 years$1,922$1,483$1,130$853$638$526
25 years$1,825$1,391$1,047$779$574$469
26 years$1,736$1,308$971$712$517$418
27 years$1,654$1,231$902$652$466$373
28 years$1,578$1,160$838$597$421$333
29 years$1,507$1,094$780$548$380$298
30 years$1,441$1,033$727$503$343$266
31 years$1,380$977$677$462$310$238
32 years$1,322$924$632$424$281$213
33 years$1,268$875$590$390$254$191
34 years$1,217$829$551$359$230$171
35 years$1,169$787$515$330$208$153
36 years$1,124$747$482$304$189$137
37 years$1,082$709$451$280$171$123
38 years$1,042$674$423$258$155$110
39 years$1,004$641$396$238$141$99
40 years$968$610$371$220$128$89
41 years$934$580$348$203$116$80
42 years$901$553$326$187$105$72
43 years$871$527$306$173$95$64
44 years$841$502$288$160$87$58
45 years$813$479$270$147$79$52
46 years$787$457$254$136$71$46
47 years$761$436$238$126$65$42
48 years$737$416$224$116$59$37
49 years$714$397$210$107$53$34
50 years$691$380$198$99$49$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $708,000, adding $6,222 every year, while hoping to spend $26,364 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: 55/33/12 Blend
54$708,000$708,000$708,000$708,000
55$786,634$749,110$738,136$827,152
56$838,820$757,765$734,812$863,996
57$895,444$765,961$730,494$900,685
58$956,934$773,647$725,119$940,017
59$1,023,755$780,769$718,625$982,249
60$1,096,421$787,271$710,942$1,027,664
61$1,175,500$793,091$702,003$1,076,576
62$1,261,613$798,164$691,732$1,129,330
63$1,355,445$802,422$680,052$1,186,308
64$1,457,750$805,790$666,883$1,247,932
65$1,569,358$808,191$652,141$1,314,667
66$1,691,181$809,541$635,737$1,387,026
67$1,824,226$809,753$617,578$1,465,578
68$1,969,598$808,732$597,568$1,550,948
69$2,128,516$806,379$575,606$1,643,827
70$2,302,322$802,589$551,586$1,744,981
71$2,492,492$797,249$525,397$1,855,250
72$2,700,651$790,240$496,924$1,975,566
73$2,928,592$781,436$466,045$2,106,954
74$3,178,286$770,704$432,635$2,250,549
75$3,451,905$757,901$396,561$2,407,601
76$3,751,839$742,879$357,687$2,579,492
77$4,080,724$725,477$315,866$2,767,744
78$4,441,461$705,528$270,951$2,974,039
79$4,837,244$682,854$222,782$3,200,234
80$5,271,594$657,264$171,196$3,448,375
81$5,748,388$628,562$116,022$3,720,723
82$6,271,896$596,534$57,082$4,019,771
83$6,846,823$560,957$0$4,348,269
84$7,478,351$521,596$0$4,709,999
85$8,172,189$478,201$0$5,115,411
86$8,934,627$430,507$0$5,560,911
87$9,772,592$378,235$0$6,050,600
88$10,693,720$321,092$0$6,589,004
89$11,706,418$258,764$0$7,181,110
90$12,819,953$190,924$0$7,832,422
91$14,044,531$117,222$0$8,549,005
92$15,391,401$37,294$0$9,337,549
93$16,872,952$0$0$10,205,430
94$18,502,839$0$0$11,178,664
95$20,296,102$0$0$12,264,430
96$22,269,316$0$0$13,459,229
97$24,440,743$0$0$14,774,127
98$26,830,504$0$0$16,221,320
99$29,460,770$0$0$17,814,244
100$32,355,970$0$0$19,567,704