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%18.1%
1 years$51,364$50,907$50,460$50,025$49,599$47,973
2 years$25,428$24,954$24,495$24,050$23,619$21,996
3 years$16,783$16,308$15,850$15,409$14,985$13,416
4 years$12,462$11,988$11,535$11,101$10,687$9,185
5 years$9,870$9,399$8,951$8,527$8,124$6,692
6 years$8,143$7,675$7,234$6,819$6,428$5,068
7 years$6,909$6,445$6,012$5,606$5,228$3,939
8 years$5,984$5,525$5,098$4,703$4,337$3,118
9 years$5,266$4,810$4,391$4,006$3,653$2,503
10 years$4,691$4,240$3,828$3,453$3,112$2,030
11 years$4,221$3,775$3,370$3,005$2,677$1,659
12 years$3,830$3,388$2,991$2,636$2,319$1,365
13 years$3,499$3,062$2,672$2,327$2,023$1,128
14 years$3,215$2,783$2,401$2,066$1,773$937
15 years$2,970$2,542$2,168$1,842$1,561$780
16 years$2,756$2,333$1,966$1,650$1,380$652
17 years$2,567$2,148$1,789$1,482$1,223$546
18 years$2,399$1,985$1,633$1,336$1,088$458
19 years$2,249$1,840$1,495$1,207$970$384
20 years$2,114$1,710$1,372$1,093$866$323
21 years$1,992$1,592$1,262$992$775$272
22 years$1,882$1,486$1,163$902$695$229
23 years$1,781$1,390$1,074$822$624$193
24 years$1,688$1,303$993$749$560$163
25 years$1,604$1,222$920$684$504$138
26 years$1,525$1,149$853$626$454$116
27 years$1,453$1,081$792$573$410$98
28 years$1,386$1,019$736$525$370$83
29 years$1,324$961$685$481$334$70
30 years$1,266$908$638$442$302$59
31 years$1,212$858$595$406$273$50
32 years$1,161$812$555$373$247$43
33 years$1,114$769$518$343$223$36
34 years$1,069$729$484$315$202$30
35 years$1,027$691$453$290$183$26
36 years$988$656$424$267$166$22
37 years$951$623$396$246$150$18
38 years$915$592$371$227$136$16
39 years$882$563$348$209$124$13
40 years$850$536$326$193$112$11
41 years$820$510$306$178$102$9
42 years$792$486$287$164$92$8
43 years$765$463$269$152$84$7
44 years$739$441$253$140$76$6
45 years$714$421$237$129$69$5
46 years$691$401$223$120$63$4
47 years$669$383$209$110$57$3
48 years$647$366$197$102$52$3
49 years$627$349$185$94$47$3
50 years$607$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 $622,000, adding $2,582 every year, while hoping to spend $46,303 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: 69/21/10 Blend
55$622,000$622,000$622,000$622,000
56$688,107$655,141$645,500$734,033
57$709,028$637,977$617,859$747,666
58$730,531$618,420$587,739$756,726
59$752,627$596,304$555,009$765,407
60$775,325$571,453$519,532$773,663
61$798,635$543,681$481,164$781,448
62$822,566$512,792$439,753$788,707
63$847,125$478,576$395,142$795,387
64$872,321$440,815$347,168$801,425
65$898,158$399,276$295,659$806,759
66$924,641$353,712$240,435$811,319
67$951,775$303,864$181,310$815,032
68$979,560$249,457$118,087$817,817
69$1,007,996$190,201$50,564$819,591
70$1,037,081$125,790$0$820,262
71$1,066,810$55,901$0$822,025
72$1,097,176$0$0$828,391
73$1,128,168$0$0$838,446
74$1,159,772$0$0$861,867
75$1,191,971$0$0$885,720
76$1,224,742$0$0$909,988
77$1,258,058$0$0$934,651
78$1,291,886$0$0$959,682
79$1,326,189$0$0$985,051
80$1,360,920$0$0$1,010,725
81$1,396,026$0$0$1,036,660
82$1,431,447$0$0$1,062,810
83$1,467,111$0$0$1,089,121
84$1,502,936$0$0$1,115,529
85$1,538,831$0$0$1,141,964
86$1,574,688$0$0$1,168,343
87$1,610,389$0$0$1,194,575
88$1,645,796$0$0$1,220,554
89$1,680,755$0$0$1,246,164
90$1,715,094$0$0$1,271,272
91$1,748,617$0$0$1,295,727
92$1,781,104$0$0$1,319,362
93$1,812,310$0$0$1,341,989
94$1,841,959$0$0$1,363,398
95$1,869,744$0$0$1,383,354
96$1,895,319$0$0$1,401,593
97$1,918,302$0$0$1,417,822
98$1,938,263$0$0$1,431,714
99$1,954,725$0$0$1,442,905
100$1,967,158$0$0$1,450,990