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%13.6%
1 years$58,549$58,027$57,518$57,022$56,537$55,692
2 years$28,984$28,445$27,921$27,414$26,922$26,073
3 years$19,131$18,589$18,067$17,565$17,081$16,253
4 years$14,205$13,665$13,148$12,654$12,182$11,383
5 years$11,251$10,713$10,204$9,720$9,261$8,492
6 years$9,281$8,748$8,246$7,773$7,328$6,591
7 years$7,875$7,347$6,852$6,391$5,959$5,254
8 years$6,821$6,298$5,811$5,361$4,944$4,271
9 years$6,002$5,483$5,005$4,566$4,163$3,522
10 years$5,347$4,833$4,364$3,936$3,547$2,937
11 years$4,811$4,303$3,842$3,426$3,051$2,470
12 years$4,365$3,862$3,410$3,005$2,644$2,093
13 years$3,988$3,490$3,046$2,653$2,305$1,783
14 years$3,665$3,172$2,737$2,355$2,021$1,527
15 years$3,386$2,898$2,471$2,100$1,779$1,312
16 years$3,141$2,659$2,240$1,880$1,573$1,132
17 years$2,926$2,449$2,039$1,690$1,394$979
18 years$2,734$2,263$1,861$1,523$1,240$848
19 years$2,563$2,097$1,704$1,376$1,105$737
20 years$2,410$1,949$1,564$1,246$987$641
21 years$2,271$1,815$1,438$1,131$883$559
22 years$2,145$1,694$1,326$1,028$792$488
23 years$2,030$1,585$1,224$936$711$426
24 years$1,925$1,485$1,132$854$639$372
25 years$1,828$1,393$1,048$780$575$326
26 years$1,739$1,310$972$713$518$285
27 years$1,657$1,232$903$653$467$250
28 years$1,580$1,161$839$598$421$219
29 years$1,509$1,096$781$548$380$192
30 years$1,443$1,035$728$503$344$169
31 years$1,382$978$678$462$311$148
32 years$1,324$925$633$425$281$130
33 years$1,270$876$591$391$254$114
34 years$1,219$831$552$359$230$101
35 years$1,171$788$516$331$209$88
36 years$1,126$748$483$305$189$78
37 years$1,084$710$452$281$171$68
38 years$1,043$675$423$259$155$60
39 years$1,005$642$397$239$141$53
40 years$969$611$372$220$128$46
41 years$935$581$348$203$116$41
42 years$903$554$327$187$105$36
43 years$872$527$307$173$95$32
44 years$842$503$288$160$87$28
45 years$814$479$270$148$79$24
46 years$788$457$254$136$71$22
47 years$762$436$239$126$65$19
48 years$738$417$224$116$59$17
49 years$715$398$211$108$53$15
50 years$692$380$198$99$49$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $709,000, adding $6,882 every year, while hoping to spend $28,746 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: 78/15/7 Blend
54$709,000$709,000$709,000$709,000
55$788,417$750,840$739,850$848,727
56$838,250$757,045$734,050$895,482
57$892,202$762,592$727,091$942,313
58$950,664$767,416$718,906$992,820
59$1,014,064$771,451$709,422$1,047,356
60$1,082,873$774,627$698,562$1,106,310
61$1,157,610$776,868$686,248$1,170,110
62$1,238,846$778,094$672,396$1,239,228
63$1,327,207$778,219$656,920$1,314,183
64$1,423,383$777,153$639,728$1,395,548
65$1,528,135$774,800$620,726$1,483,954
66$1,642,298$771,058$599,813$1,580,096
67$1,766,791$765,820$576,887$1,684,740
68$1,902,628$758,969$551,836$1,798,730
69$2,050,923$750,385$524,549$1,922,998
70$2,212,901$739,938$494,906$2,058,569
71$2,389,914$727,492$462,783$2,206,573
72$2,583,449$712,902$428,049$2,368,255
73$2,795,141$696,015$390,569$2,544,990
74$3,026,793$676,668$350,201$2,738,290
75$3,280,391$654,689$306,797$2,949,825
76$3,558,118$629,897$260,203$3,181,431
77$3,862,383$602,098$210,256$3,435,137
78$4,195,834$571,089$156,788$3,713,176
79$4,561,392$536,655$99,623$4,018,011
80$4,962,270$498,567$38,576$4,352,355
81$5,402,009$456,585$0$4,719,202
82$5,884,510$410,453$0$5,123,833
83$6,414,068$359,904$0$5,571,102
84$6,995,415$304,651$0$6,062,149
85$7,633,764$244,395$0$6,601,405
86$8,334,856$178,819$0$7,193,757
87$9,105,016$107,586$0$7,844,589
88$9,951,213$30,343$0$8,559,835
89$10,881,123$0$0$9,346,033
90$11,903,203$0$0$10,219,187
91$13,026,769$0$0$11,184,571
92$14,262,086$0$0$12,246,000
93$15,620,463$0$0$13,413,193
94$17,114,360$0$0$14,696,861
95$18,757,503$0$0$16,108,801
96$20,565,017$0$0$17,662,014
97$22,553,566$0$0$19,370,824
98$24,741,511$0$0$21,251,011
99$27,149,083$0$0$23,319,966
100$29,798,570$0$0$25,596,846