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%17.7%
1 years$51,282$50,825$50,379$49,944$49,519$47,973
2 years$25,387$24,914$24,456$24,012$23,581$22,036
3 years$16,757$16,282$15,825$15,384$14,961$13,467
4 years$12,442$11,969$11,516$11,084$10,670$9,238
5 years$9,854$9,384$8,937$8,513$8,111$6,745
6 years$8,129$7,662$7,222$6,808$6,418$5,119
7 years$6,898$6,435$6,002$5,597$5,220$3,988
8 years$5,975$5,516$5,090$4,695$4,330$3,165
9 years$5,257$4,803$4,384$4,000$3,647$2,546
10 years$4,683$4,233$3,822$3,448$3,107$2,070
11 years$4,214$3,769$3,365$3,000$2,672$1,696
12 years$3,824$3,383$2,986$2,632$2,316$1,399
13 years$3,493$3,057$2,668$2,323$2,019$1,160
14 years$3,210$2,779$2,397$2,063$1,770$966
15 years$2,965$2,538$2,164$1,839$1,559$807
16 years$2,751$2,329$1,962$1,647$1,377$676
17 years$2,563$2,145$1,786$1,480$1,221$567
18 years$2,395$1,982$1,630$1,334$1,086$477
19 years$2,245$1,837$1,492$1,205$968$402
20 years$2,111$1,707$1,370$1,091$865$339
21 years$1,989$1,590$1,260$991$774$286
22 years$1,879$1,484$1,161$901$694$242
23 years$1,778$1,388$1,072$820$623$205
24 years$1,686$1,300$991$748$560$173
25 years$1,601$1,220$918$683$504$147
26 years$1,523$1,147$852$625$454$124
27 years$1,451$1,079$791$572$409$106
28 years$1,384$1,017$735$524$369$89
29 years$1,322$960$684$480$333$76
30 years$1,264$906$637$441$301$64
31 years$1,210$857$594$405$272$55
32 years$1,160$811$554$372$246$46
33 years$1,112$768$518$342$223$39
34 years$1,068$728$484$315$202$33
35 years$1,026$690$452$290$183$28
36 years$986$655$423$267$166$24
37 years$949$622$396$246$150$20
38 years$914$591$371$227$136$17
39 years$881$562$347$209$123$15
40 years$849$535$326$193$112$13
41 years$819$509$305$178$102$11
42 years$791$485$286$164$92$9
43 years$764$462$269$152$84$8
44 years$738$440$252$140$76$7
45 years$713$420$237$129$69$6
46 years$690$401$222$119$63$5
47 years$668$382$209$110$57$4
48 years$646$365$196$102$52$3
49 years$626$349$185$94$47$3
50 years$606$333$174$87$43$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $621,000, adding $5,221 every year, while hoping to spend $41,715 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: 63/12/25 Blend
55$621,000$621,000$621,000$621,000
56$689,727$656,814$647,189$728,325
57$715,695$644,614$624,485$742,859
58$742,914$630,417$599,623$753,654
59$771,466$614,083$572,486$764,523
60$801,443$595,461$542,952$775,476
61$832,944$574,392$510,894$786,531
62$866,075$550,708$476,179$797,706
63$900,952$524,230$438,669$809,024
64$937,703$494,771$398,219$820,511
65$976,466$462,132$354,676$832,200
66$1,017,390$426,101$307,882$844,127
67$1,060,640$386,457$257,673$856,336
68$1,106,396$342,963$203,875$868,876
69$1,154,852$295,372$146,308$881,807
70$1,206,222$243,421$84,785$895,195
71$1,260,739$186,831$19,108$909,116
72$1,318,659$125,310$0$923,657
73$1,380,260$58,548$0$952,518
74$1,445,849$0$0$988,535
75$1,515,758$0$0$1,028,615
76$1,590,355$0$0$1,079,658
77$1,670,041$0$0$1,134,210
78$1,755,255$0$0$1,192,575
79$1,846,479$0$0$1,255,089
80$1,944,241$0$0$1,322,116
81$2,049,123$0$0$1,394,058
82$2,161,759$0$0$1,471,357
83$2,282,848$0$0$1,554,497
84$2,413,157$0$0$1,644,007
85$2,553,528$0$0$1,740,473
86$2,704,884$0$0$1,844,535
87$2,868,242$0$0$1,956,898
88$3,044,717$0$0$2,078,334
89$3,235,537$0$0$2,209,694
90$3,442,048$0$0$2,351,913
91$3,665,732$0$0$2,506,018
92$3,908,219$0$0$2,673,140
93$4,171,300$0$0$2,854,521
94$4,456,945$0$0$3,051,528
95$4,767,322$0$0$3,265,663
96$5,104,813$0$0$3,498,581
97$5,472,042$0$0$3,752,101
98$5,871,895$0$0$4,028,224
99$6,307,546$0$0$4,329,155
100$6,782,491$0$0$4,657,317