Can I retire at age 55 with 709,000?

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 $709,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$58,549$58,027$57,518$57,022$56,537$54,683
2 years$28,984$28,445$27,921$27,414$26,922$25,072
3 years$19,131$18,589$18,067$17,565$17,081$15,293
4 years$14,205$13,665$13,148$12,654$12,182$10,470
5 years$11,251$10,713$10,204$9,720$9,261$7,628
6 years$9,281$8,748$8,246$7,773$7,328$5,777
7 years$7,875$7,347$6,852$6,391$5,959$4,490
8 years$6,821$6,298$5,811$5,361$4,944$3,555
9 years$6,002$5,483$5,005$4,566$4,163$2,853
10 years$5,347$4,833$4,364$3,936$3,547$2,313
11 years$4,811$4,303$3,842$3,426$3,051$1,891
12 years$4,365$3,862$3,410$3,005$2,644$1,556
13 years$3,988$3,490$3,046$2,653$2,305$1,286
14 years$3,665$3,172$2,737$2,355$2,021$1,068
15 years$3,386$2,898$2,471$2,100$1,779$890
16 years$3,141$2,659$2,240$1,880$1,573$743
17 years$2,926$2,449$2,039$1,690$1,394$622
18 years$2,734$2,263$1,861$1,523$1,240$522
19 years$2,563$2,097$1,704$1,376$1,105$438
20 years$2,410$1,949$1,564$1,246$987$368
21 years$2,271$1,815$1,438$1,131$883$310
22 years$2,145$1,694$1,326$1,028$792$261
23 years$2,030$1,585$1,224$936$711$220
24 years$1,925$1,485$1,132$854$639$186
25 years$1,828$1,393$1,048$780$575$157
26 years$1,739$1,310$972$713$518$133
27 years$1,657$1,232$903$653$467$112
28 years$1,580$1,161$839$598$421$95
29 years$1,509$1,096$781$548$380$80
30 years$1,443$1,035$728$503$344$68
31 years$1,382$978$678$462$311$57
32 years$1,324$925$633$425$281$48
33 years$1,270$876$591$391$254$41
34 years$1,219$831$552$359$230$35
35 years$1,171$788$516$331$209$29
36 years$1,126$748$483$305$189$25
37 years$1,084$710$452$281$171$21
38 years$1,043$675$423$259$155$18
39 years$1,005$642$397$239$141$15
40 years$969$611$372$220$128$13
41 years$935$581$348$203$116$11
42 years$903$554$327$187$105$9
43 years$872$527$307$173$95$8
44 years$842$503$288$160$87$7
45 years$814$479$270$148$79$6
46 years$788$457$254$136$71$5
47 years$762$436$239$126$65$4
48 years$738$417$224$116$59$3
49 years$715$398$211$108$53$3
50 years$692$380$198$99$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $709,000, adding $6,753 every year, while hoping to spend $51,123 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: 70/6/24 Blend
54$709,000$709,000$709,000$709,000
55$788,284$750,707$739,717$838,237
56$814,294$733,097$710,103$854,903
57$841,244$712,911$677,784$866,546
58$869,176$689,968$642,614$878,071
59$898,133$664,078$604,443$889,461
60$928,164$635,039$563,113$900,703
61$959,318$602,637$518,459$911,779
62$991,649$566,647$470,308$922,676
63$1,025,214$526,830$418,480$933,376
64$1,060,074$482,932$362,787$943,865
65$1,096,293$434,688$303,032$954,128
66$1,133,942$381,814$239,011$964,149
67$1,173,095$324,013$170,508$973,914
68$1,213,831$260,970$97,300$983,410
69$1,256,236$192,352$19,154$992,624
70$1,300,402$117,807$0$1,001,544
71$1,346,427$36,965$0$1,026,612
72$1,394,420$0$0$1,057,672
73$1,444,493$0$0$1,093,214
74$1,496,770$0$0$1,132,878
75$1,551,386$0$0$1,174,324
76$1,608,483$0$0$1,217,663
77$1,668,219$0$0$1,263,014
78$1,730,761$0$0$1,310,508
79$1,796,292$0$0$1,360,284
80$1,865,011$0$0$1,412,494
81$1,937,133$0$0$1,467,304
82$2,012,890$0$0$1,524,893
83$2,092,537$0$0$1,585,455
84$2,176,349$0$0$1,649,203
85$2,264,627$0$0$1,716,368
86$2,357,698$0$0$1,787,199
87$2,455,917$0$0$1,861,972
88$2,559,673$0$0$1,940,986
89$2,669,390$0$0$2,024,564
90$2,785,530$0$0$2,113,065
91$2,908,598$0$0$2,206,875
92$3,039,145$0$0$2,306,419
93$3,177,775$0$0$2,412,162
94$3,325,147$0$0$2,524,611
95$3,481,984$0$0$2,644,322
96$3,649,074$0$0$2,771,902
97$3,827,283$0$0$2,908,019
98$4,017,559$0$0$3,053,401
99$4,220,940$0$0$3,208,847
100$4,438,563$0$0$3,375,236