Can I retire at age 56 with 627,000?

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 $627,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$51,777$51,316$50,866$50,427$49,998$48,730
2 years$25,632$25,155$24,692$24,244$23,809$22,539
3 years$16,918$16,439$15,977$15,533$15,105$13,874
4 years$12,562$12,084$11,628$11,191$10,773$9,590
5 years$9,949$9,474$9,023$8,596$8,190$7,058
6 years$8,208$7,736$7,292$6,874$6,480$5,401
7 years$6,965$6,497$6,060$5,651$5,270$4,243
8 years$6,033$5,569$5,139$4,741$4,372$3,397
9 years$5,308$4,849$4,426$4,038$3,682$2,758
10 years$4,729$4,274$3,859$3,481$3,137$2,263
11 years$4,255$3,805$3,397$3,029$2,698$1,873
12 years$3,860$3,415$3,015$2,657$2,338$1,560
13 years$3,527$3,086$2,694$2,346$2,039$1,307
14 years$3,241$2,805$2,420$2,082$1,787$1,099
15 years$2,994$2,563$2,185$1,857$1,574$928
16 years$2,778$2,351$1,981$1,663$1,391$786
17 years$2,587$2,165$1,803$1,494$1,233$667
18 years$2,418$2,001$1,646$1,346$1,096$567
19 years$2,267$1,854$1,507$1,217$977$483
20 years$2,131$1,723$1,383$1,102$873$412
21 years$2,008$1,605$1,272$1,000$781$352
22 years$1,897$1,498$1,172$909$700$301
23 years$1,795$1,401$1,082$828$629$258
24 years$1,702$1,313$1,001$755$565$221
25 years$1,617$1,232$927$690$508$189
26 years$1,538$1,158$860$631$458$162
27 years$1,465$1,090$798$577$413$139
28 years$1,397$1,027$742$529$373$120
29 years$1,335$969$691$485$336$103
30 years$1,276$915$643$445$304$88
31 years$1,222$865$600$409$275$76
32 years$1,171$818$560$376$249$65
33 years$1,123$775$523$346$225$56
34 years$1,078$735$488$318$204$48
35 years$1,036$697$456$293$184$41
36 years$996$661$427$270$167$36
37 years$958$628$400$248$151$31
38 years$923$597$374$229$137$26
39 years$889$568$351$211$125$23
40 years$857$540$329$195$113$20
41 years$827$514$308$180$102$17
42 years$798$490$289$166$93$14
43 years$771$466$271$153$84$12
44 years$745$445$255$141$77$11
45 years$720$424$239$130$70$9
46 years$697$404$225$121$63$8
47 years$674$386$211$111$57$7
48 years$652$368$198$103$52$6
49 years$632$352$186$95$47$5
50 years$612$336$175$88$43$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $627,000, adding $3,324 every year, while hoping to spend $28,090 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: 56/24/20 Blend
55$627,000$627,000$627,000$627,000
56$694,383$661,152$651,433$729,361
57$735,322$663,661$643,369$756,108
58$779,496$665,351$634,093$781,948
59$827,205$666,153$623,535$809,483
60$878,778$665,993$611,621$838,883
61$934,578$664,791$598,275$870,335
62$995,004$662,465$583,417$904,049
63$1,060,494$658,926$566,961$940,255
64$1,131,530$654,079$548,820$979,208
65$1,208,642$647,825$528,901$1,021,193
66$1,292,413$640,058$507,109$1,066,521
67$1,383,484$630,665$483,342$1,115,539
68$1,482,561$619,529$457,495$1,168,632
69$1,590,419$606,523$429,458$1,226,224
70$1,707,912$591,513$399,116$1,288,784
71$1,835,981$574,359$366,348$1,356,833
72$1,975,660$554,911$331,029$1,430,944
73$2,128,087$533,011$293,028$1,511,755
74$2,294,515$508,492$252,208$1,599,967
75$2,476,323$481,176$208,425$1,696,358
76$2,675,031$450,877$161,529$1,801,788
77$2,892,309$417,395$111,366$1,917,205
78$3,130,000$380,523$57,772$2,043,660
79$3,390,129$340,037$577$2,182,313
80$3,674,929$295,706$0$2,334,445
81$3,986,857$247,281$0$2,514,375
82$4,328,620$194,501$0$2,711,737
83$4,703,199$137,091$0$2,928,175
84$5,113,876$74,759$0$3,165,643
85$5,564,267$7,198$0$3,426,293
86$6,058,354$0$0$3,712,503
87$6,600,524$0$0$4,044,300
88$7,195,608$0$0$4,410,624
89$7,848,928$0$0$4,812,858
90$8,566,347$0$0$5,254,620
91$9,354,323$0$0$5,739,892
92$10,219,970$0$0$6,273,066
93$11,171,126$0$0$6,858,975
94$12,216,424$0$0$7,502,949
95$13,365,377$0$0$8,210,855
96$14,628,463$0$0$8,989,159
97$16,017,228$0$0$9,844,986
98$17,544,392$0$0$10,786,183
99$19,223,970$0$0$11,821,398
100$21,071,401$0$0$12,960,159