Can I retire at age 55 with 713,000?

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 $713,000?

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$58,879$58,354$57,843$57,343$56,856$56,006
2 years$29,148$28,605$28,079$27,569$27,074$26,220
3 years$19,239$18,694$18,169$17,664$17,177$16,345
4 years$14,285$13,742$13,222$12,726$12,251$11,447
5 years$11,314$10,774$10,261$9,775$9,313$8,540
6 years$9,334$8,798$8,292$7,817$7,369$6,628
7 years$7,920$7,388$6,891$6,427$5,993$5,284
8 years$6,860$6,333$5,844$5,391$4,972$4,295
9 years$6,036$5,514$5,034$4,592$4,187$3,542
10 years$5,377$4,860$4,388$3,958$3,567$2,953
11 years$4,839$4,327$3,863$3,445$3,068$2,484
12 years$4,390$3,884$3,429$3,022$2,659$2,105
13 years$4,011$3,510$3,063$2,668$2,318$1,793
14 years$3,686$3,190$2,752$2,368$2,032$1,535
15 years$3,405$2,914$2,485$2,112$1,789$1,320
16 years$3,159$2,674$2,253$1,891$1,582$1,138
17 years$2,942$2,462$2,050$1,699$1,402$984
18 years$2,750$2,275$1,872$1,531$1,247$853
19 years$2,578$2,109$1,713$1,384$1,111$741
20 years$2,423$1,960$1,572$1,253$993$645
21 years$2,284$1,825$1,446$1,137$888$562
22 years$2,157$1,704$1,333$1,034$796$490
23 years$2,041$1,594$1,231$942$715$428
24 years$1,935$1,493$1,138$859$642$375
25 years$1,838$1,401$1,054$784$578$328
26 years$1,749$1,317$978$717$521$287
27 years$1,666$1,239$908$656$469$252
28 years$1,589$1,168$844$601$424$221
29 years$1,518$1,102$785$552$383$194
30 years$1,451$1,040$732$506$346$170
31 years$1,389$984$682$465$312$149
32 years$1,331$931$636$427$283$131
33 years$1,277$881$594$393$256$115
34 years$1,226$835$555$361$232$101
35 years$1,178$792$519$333$210$89
36 years$1,132$752$486$306$190$78
37 years$1,090$714$454$282$172$69
38 years$1,049$679$426$260$156$60
39 years$1,011$645$399$240$142$53
40 years$975$614$374$221$128$47
41 years$940$585$350$204$117$41
42 years$908$557$329$188$106$36
43 years$877$530$308$174$96$32
44 years$847$506$290$161$87$28
45 years$819$482$272$148$79$25
46 years$792$460$255$137$72$22
47 years$766$439$240$127$65$19
48 years$742$419$225$117$59$17
49 years$719$400$212$108$54$15
50 years$696$382$199$100$49$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $713,000, adding $4,103 every year, while hoping to spend $34,114 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: 61/26/13 Blend
54$713,000$713,000$713,000$713,000
55$789,958$752,169$741,118$835,410
56$834,237$752,729$729,648$867,001
57$881,889$752,172$716,651$897,226
58$933,222$750,408$702,039$929,382
59$988,574$747,342$685,721$963,659
60$1,048,317$742,871$667,602$1,000,265
61$1,112,860$736,886$647,581$1,039,433
62$1,182,651$729,273$625,554$1,081,418
63$1,258,184$719,909$601,412$1,126,504
64$1,340,000$708,666$575,041$1,175,006
65$1,428,697$695,407$546,321$1,227,271
66$1,524,928$679,987$515,128$1,283,683
67$1,629,417$662,252$481,330$1,344,668
68$1,742,955$642,040$444,792$1,410,696
69$1,866,415$619,178$405,371$1,482,288
70$2,000,756$593,486$362,919$1,560,020
71$2,147,036$564,769$317,279$1,644,528
72$2,306,415$532,824$268,290$1,736,516
73$2,480,174$497,437$215,781$1,836,762
74$2,669,718$458,378$159,577$1,946,127
75$2,876,598$415,407$99,491$2,065,561
76$3,102,518$368,269$35,331$2,196,117
77$3,349,357$316,696$0$2,338,954
78$3,619,179$260,402$0$2,499,954
79$3,914,262$199,088$0$2,681,468
80$4,237,110$132,437$0$2,880,185
81$4,590,481$60,113$0$3,097,871
82$4,977,414$0$0$3,336,468
83$5,401,253$0$0$3,603,344
84$5,865,682$0$0$3,914,676
85$6,374,759$0$0$4,255,995
86$6,932,950$0$0$4,630,301
87$7,545,178$0$0$5,040,902
88$8,216,863$0$0$5,491,442
89$8,953,975$0$0$5,985,932
90$9,763,090$0$0$6,528,793
91$10,651,454$0$0$7,124,893
92$11,627,045$0$0$7,779,595
93$12,698,654$0$0$8,498,808
94$13,875,966$0$0$9,289,040
95$15,169,648$0$0$10,157,461
96$16,591,453$0$0$11,111,970
97$18,154,329$0$0$12,161,271
98$19,872,540$0$0$13,314,951
99$21,761,803$0$0$14,583,572
100$23,839,432$0$0$15,978,774