Can I retire at age 56 with 625,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $625,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$51,612$51,152$50,704$50,266$49,838$48,359
2 years$25,550$25,075$24,613$24,166$23,733$22,255
3 years$16,864$16,387$15,927$15,484$15,057$13,626
4 years$12,522$12,046$11,590$11,155$10,739$9,367
5 years$9,918$9,444$8,995$8,568$8,163$6,854
6 years$8,182$7,712$7,269$6,852$6,459$5,213
7 years$6,942$6,476$6,041$5,633$5,253$4,070
8 years$6,013$5,551$5,123$4,726$4,358$3,238
9 years$5,291$4,834$4,412$4,025$3,670$2,611
10 years$4,714$4,261$3,847$3,470$3,127$2,128
11 years$4,241$3,793$3,387$3,020$2,689$1,749
12 years$3,848$3,404$3,006$2,649$2,331$1,446
13 years$3,516$3,076$2,685$2,338$2,032$1,202
14 years$3,231$2,796$2,413$2,076$1,782$1,004
15 years$2,984$2,555$2,178$1,851$1,569$841
16 years$2,769$2,344$1,975$1,658$1,386$706
17 years$2,579$2,159$1,797$1,489$1,229$595
18 years$2,410$1,995$1,641$1,342$1,093$502
19 years$2,260$1,849$1,502$1,213$974$424
20 years$2,124$1,718$1,378$1,098$870$359
21 years$2,002$1,600$1,268$997$779$304
22 years$1,891$1,494$1,168$906$698$258
23 years$1,789$1,397$1,079$825$627$219
24 years$1,697$1,309$998$753$563$186
25 years$1,611$1,228$924$688$507$158
26 years$1,533$1,154$857$629$456$134
27 years$1,460$1,086$796$575$412$114
28 years$1,393$1,024$740$527$371$97
29 years$1,330$966$689$483$335$83
30 years$1,272$912$641$444$303$70
31 years$1,218$862$598$408$274$60
32 years$1,167$816$558$375$248$51
33 years$1,119$773$521$344$224$43
34 years$1,074$732$487$317$203$37
35 years$1,032$695$455$292$184$32
36 years$993$659$426$269$167$27
37 years$955$626$398$248$151$23
38 years$920$595$373$228$137$20
39 years$886$566$350$210$124$17
40 years$854$538$328$194$113$14
41 years$824$512$307$179$102$12
42 years$796$488$288$165$93$10
43 years$768$465$270$153$84$9
44 years$743$443$254$141$76$7
45 years$718$423$238$130$69$6
46 years$694$403$224$120$63$5
47 years$672$385$210$111$57$5
48 years$650$367$198$103$52$4
49 years$630$351$186$95$47$3
50 years$610$335$175$88$43$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $625,000, adding $3,782 every year, while hoping to spend $36,698 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: 55/29/16 Blend
55$625,000$625,000$625,000$625,000
56$692,651$659,526$649,839$727,612
57$724,255$652,797$632,562$745,113
58$757,853$644,507$613,476$759,892
59$793,609$634,543$592,483$775,157
60$831,703$622,782$569,477$790,963
61$872,333$609,095$544,351$807,373
62$915,715$593,344$516,991$824,456
63$962,086$575,386$487,278$842,294
64$1,011,705$555,066$455,088$860,975
65$1,064,857$532,222$420,291$880,603
66$1,121,854$506,683$382,752$901,291
67$1,183,039$478,266$342,330$923,170
68$1,248,787$446,779$298,877$946,383
69$1,319,512$412,020$252,238$971,093
70$1,395,666$373,773$202,252$997,485
71$1,477,747$331,811$148,750$1,025,761
72$1,566,302$285,894$91,558$1,056,152
73$1,661,930$235,769$30,491$1,088,914
74$1,765,293$181,167$0$1,124,335
75$1,877,115$121,806$0$1,168,654
76$1,998,193$57,387$0$1,222,249
77$2,129,404$0$0$1,280,346
78$2,271,711$0$0$1,347,384
79$2,426,174$0$0$1,440,075
80$2,593,960$0$0$1,540,811
81$2,776,349$0$0$1,650,369
82$2,974,753$0$0$1,769,602
83$3,190,724$0$0$1,899,450
84$3,425,969$0$0$2,040,946
85$3,682,367$0$0$2,195,230
86$3,961,987$0$0$2,363,553
87$4,267,104$0$0$2,547,294
88$4,600,225$0$0$2,747,970
89$4,964,107$0$0$2,967,252
90$5,361,787$0$0$3,206,978
91$5,796,608$0$0$3,469,175
92$6,272,250$0$0$3,756,071
93$6,792,765$0$0$4,070,121
94$7,362,616$0$0$4,414,028
95$7,986,718$0$0$4,790,769
96$8,670,481$0$0$5,203,624
97$9,419,865$0$0$5,656,201
98$10,241,433$0$0$6,152,479
99$11,142,415$0$0$6,696,836
100$12,130,772$0$0$7,294,097