Can I retire at age 56 with 622,000?

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 $622,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$51,364$50,907$50,460$50,025$49,599$48,959
2 years$25,428$24,954$24,495$24,050$23,619$22,975
3 years$16,783$16,308$15,850$15,409$14,985$14,357
4 years$12,462$11,988$11,535$11,101$10,687$10,080
5 years$9,870$9,399$8,951$8,527$8,124$7,540
6 years$8,143$7,675$7,234$6,819$6,428$5,868
7 years$6,909$6,445$6,012$5,606$5,228$4,691
8 years$5,984$5,525$5,098$4,703$4,337$3,824
9 years$5,266$4,810$4,391$4,006$3,653$3,162
10 years$4,691$4,240$3,828$3,453$3,112$2,645
11 years$4,221$3,775$3,370$3,005$2,677$2,232
12 years$3,830$3,388$2,991$2,636$2,319$1,897
13 years$3,499$3,062$2,672$2,327$2,023$1,622
14 years$3,215$2,783$2,401$2,066$1,773$1,393
15 years$2,970$2,542$2,168$1,842$1,561$1,202
16 years$2,756$2,333$1,966$1,650$1,380$1,040
17 years$2,567$2,148$1,789$1,482$1,223$902
18 years$2,399$1,985$1,633$1,336$1,088$785
19 years$2,249$1,840$1,495$1,207$970$684
20 years$2,114$1,710$1,372$1,093$866$598
21 years$1,992$1,592$1,262$992$775$523
22 years$1,882$1,486$1,163$902$695$458
23 years$1,781$1,390$1,074$822$624$402
24 years$1,688$1,303$993$749$560$353
25 years$1,604$1,222$920$684$504$310
26 years$1,525$1,149$853$626$454$272
27 years$1,453$1,081$792$573$410$240
28 years$1,386$1,019$736$525$370$211
29 years$1,324$961$685$481$334$186
30 years$1,266$908$638$442$302$164
31 years$1,212$858$595$406$273$144
32 years$1,161$812$555$373$247$127
33 years$1,114$769$518$343$223$112
34 years$1,069$729$484$315$202$99
35 years$1,027$691$453$290$183$87
36 years$988$656$424$267$166$77
37 years$951$623$396$246$150$68
38 years$915$592$371$227$136$60
39 years$882$563$348$209$124$53
40 years$850$536$326$193$112$47
41 years$820$510$306$178$102$41
42 years$792$486$287$164$92$37
43 years$765$463$269$152$84$32
44 years$739$441$253$140$76$29
45 years$714$421$237$129$69$25
46 years$691$401$223$120$63$22
47 years$669$383$209$110$57$20
48 years$647$366$197$102$52$17
49 years$627$349$185$94$47$15
50 years$607$333$174$87$43$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $622,000, adding $6,322 every year, while hoping to spend $50,599 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: 62/25/13 Blend
55$622,000$622,000$622,000$622,000
56$691,965$658,999$649,358$732,325
57$708,709$637,453$617,275$738,623
58$725,464$613,156$582,421$739,151
59$742,179$585,918$544,650$738,494
60$758,795$555,542$503,809$736,537
61$775,245$521,815$459,739$733,159
62$791,452$484,517$412,272$728,227
63$807,332$443,410$361,236$721,598
64$822,790$398,247$306,447$713,116
65$837,716$348,763$247,715$702,615
66$851,992$294,682$184,842$689,913
67$865,483$235,708$117,621$674,811
68$878,036$171,532$45,836$657,099
69$889,485$101,826$0$636,543
70$899,642$26,245$0$617,162
71$908,296$0$0$601,478
72$915,215$0$0$598,156
73$920,139$0$0$600,665
74$922,780$0$0$601,587
75$922,817$0$0$600,703
76$919,894$0$0$597,767
77$913,616$0$0$592,509
78$903,545$0$0$584,629
79$889,193$0$0$573,793
80$870,022$0$0$559,632
81$845,435$0$0$541,737
82$814,771$0$0$519,655
83$777,296$0$0$492,884
84$732,200$0$0$460,870
85$678,587$0$0$422,998
86$615,464$0$0$378,590
87$541,733$0$0$326,894
88$456,182$0$0$267,080
89$357,470$0$0$198,230
90$244,113$0$0$119,332
91$114,475$0$0$29,263
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0