Can I retire at age 56 with 621,000?

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 $621,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$51,282$50,825$50,379$49,944$49,519$48,699
2 years$25,387$24,914$24,456$24,012$23,581$22,757
3 years$16,757$16,282$15,825$15,384$14,961$14,158
4 years$12,442$11,969$11,516$11,084$10,670$9,896
5 years$9,854$9,384$8,937$8,513$8,111$7,367
6 years$8,129$7,662$7,222$6,808$6,418$5,705
7 years$6,898$6,435$6,002$5,597$5,220$4,538
8 years$5,975$5,516$5,090$4,695$4,330$3,680
9 years$5,257$4,803$4,384$4,000$3,647$3,028
10 years$4,683$4,233$3,822$3,448$3,107$2,518
11 years$4,214$3,769$3,365$3,000$2,672$2,113
12 years$3,824$3,383$2,986$2,632$2,316$1,786
13 years$3,493$3,057$2,668$2,323$2,019$1,518
14 years$3,210$2,779$2,397$2,063$1,770$1,296
15 years$2,965$2,538$2,164$1,839$1,559$1,111
16 years$2,751$2,329$1,962$1,647$1,377$955
17 years$2,563$2,145$1,786$1,480$1,221$824
18 years$2,395$1,982$1,630$1,334$1,086$712
19 years$2,245$1,837$1,492$1,205$968$617
20 years$2,111$1,707$1,370$1,091$865$535
21 years$1,989$1,590$1,260$991$774$465
22 years$1,879$1,484$1,161$901$694$404
23 years$1,778$1,388$1,072$820$623$352
24 years$1,686$1,300$991$748$560$307
25 years$1,601$1,220$918$683$504$268
26 years$1,523$1,147$852$625$454$234
27 years$1,451$1,079$791$572$409$204
28 years$1,384$1,017$735$524$369$178
29 years$1,322$960$684$480$333$156
30 years$1,264$906$637$441$301$136
31 years$1,210$857$594$405$272$119
32 years$1,160$811$554$372$246$105
33 years$1,112$768$518$342$223$92
34 years$1,068$728$484$315$202$80
35 years$1,026$690$452$290$183$70
36 years$986$655$423$267$166$62
37 years$949$622$396$246$150$54
38 years$914$591$371$227$136$47
39 years$881$562$347$209$123$41
40 years$849$535$326$193$112$36
41 years$819$509$305$178$102$32
42 years$791$485$286$164$92$28
43 years$764$462$269$152$84$24
44 years$738$440$252$140$76$21
45 years$713$420$237$129$69$19
46 years$690$401$222$119$63$16
47 years$668$382$209$110$57$14
48 years$646$365$196$102$52$13
49 years$626$349$185$94$47$11
50 years$606$333$174$87$43$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $621,000, adding $2,667 every year, while hoping to spend $27,411 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: 74/16/10 Blend
55$621,000$621,000$621,000$621,000
56$687,093$654,180$644,555$736,484
57$728,011$657,070$636,982$772,321
58$772,185$659,182$628,237$807,874
59$819,916$660,451$618,252$846,061
60$871,539$660,804$606,954$887,135
61$927,418$660,166$594,270$931,373
62$987,958$658,457$580,121$979,083
63$1,053,600$655,591$564,425$1,030,602
64$1,124,830$651,479$547,096$1,086,304
65$1,202,185$646,023$528,046$1,146,599
66$1,286,252$639,123$507,180$1,211,942
67$1,377,680$630,670$484,400$1,282,831
68$1,477,180$620,550$459,605$1,359,820
69$1,585,538$608,642$432,687$1,443,514
70$1,703,615$594,817$403,534$1,534,586
71$1,832,360$578,941$372,030$1,633,774
72$1,972,820$560,868$338,052$1,741,894
73$2,126,144$540,446$301,472$1,859,845
74$2,293,598$517,515$262,159$1,988,620
75$2,476,575$491,904$219,972$2,129,310
76$2,676,611$463,432$174,766$2,283,124
77$2,895,394$431,910$126,389$2,451,390
78$3,134,785$397,134$74,684$2,635,576
79$3,396,832$358,892$19,485$2,837,300
80$3,683,790$316,959$0$3,058,344
81$3,998,142$271,096$0$3,304,882
82$4,342,625$221,052$0$3,577,369
83$4,720,250$166,561$0$3,876,136
84$5,134,336$107,342$0$4,203,840
85$5,588,535$43,099$0$4,563,413
86$6,086,874$0$0$4,958,083
87$6,633,784$0$0$5,396,073
88$7,234,151$0$0$5,885,230
89$7,893,351$0$0$6,422,352
90$8,617,312$0$0$7,012,270
91$9,412,560$0$0$7,660,307
92$10,286,287$0$0$8,372,327
93$11,246,413$0$0$9,154,789
94$12,301,666$0$0$10,014,809
95$13,461,661$0$0$10,960,227
96$14,736,990$0$0$11,999,682
97$16,139,323$0$0$13,142,688
98$17,681,518$0$0$14,399,731
99$19,377,739$0$0$15,782,361
100$21,243,596$0$0$17,303,306