Can I retire at age 56 with 628,000?

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 $628,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$51,860$51,398$50,947$50,507$50,078$48,378
2 years$25,673$25,195$24,732$24,282$23,846$22,151
3 years$16,945$16,465$16,003$15,558$15,129$13,491
4 years$12,582$12,104$11,646$11,209$10,790$9,222
5 years$9,965$9,489$9,038$8,609$8,203$6,709
6 years$8,221$7,749$7,304$6,885$6,490$5,072
7 years$6,976$6,507$6,070$5,660$5,278$3,936
8 years$6,042$5,578$5,147$4,748$4,379$3,110
9 years$5,316$4,857$4,434$4,045$3,688$2,492
10 years$4,736$4,281$3,865$3,486$3,142$2,017
11 years$4,262$3,811$3,403$3,034$2,702$1,645
12 years$3,867$3,421$3,020$2,661$2,342$1,351
13 years$3,533$3,091$2,698$2,350$2,042$1,115
14 years$3,247$2,810$2,424$2,086$1,790$923
15 years$2,999$2,567$2,189$1,860$1,576$768
16 years$2,782$2,355$1,984$1,666$1,393$640
17 years$2,591$2,169$1,806$1,496$1,235$534
18 years$2,422$2,004$1,648$1,349$1,098$447
19 years$2,271$1,857$1,509$1,219$979$375
20 years$2,134$1,726$1,385$1,104$874$314
21 years$2,011$1,608$1,274$1,002$782$264
22 years$1,900$1,501$1,174$911$701$222
23 years$1,798$1,404$1,084$829$630$187
24 years$1,705$1,315$1,003$756$566$157
25 years$1,619$1,234$929$691$509$132
26 years$1,540$1,160$861$632$459$112
27 years$1,467$1,092$800$578$414$94
28 years$1,400$1,029$743$530$373$79
29 years$1,337$970$692$486$337$67
30 years$1,278$916$644$446$304$56
31 years$1,224$866$601$409$275$48
32 years$1,173$820$561$376$249$40
33 years$1,125$776$523$346$225$34
34 years$1,080$736$489$318$204$29
35 years$1,037$698$457$293$185$24
36 years$997$662$428$270$167$20
37 years$960$629$400$249$152$17
38 years$924$598$375$229$138$15
39 years$890$569$351$211$125$12
40 years$859$541$329$195$113$10
41 years$828$515$309$180$103$9
42 years$800$490$290$166$93$7
43 years$772$467$272$153$85$6
44 years$746$445$255$141$77$5
45 years$721$425$239$131$70$4
46 years$698$405$225$121$63$4
47 years$675$387$211$112$57$3
48 years$654$369$199$103$52$3
49 years$633$352$187$95$47$2
50 years$613$337$175$88$43$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $628,000, adding $2,555 every year, while hoping to spend $50,985 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: 54/18/28 Blend
55$628,000$628,000$628,000$628,000
56$694,691$661,407$651,673$726,672
57$711,302$639,569$619,257$727,221
58$727,899$614,951$584,046$722,385
59$744,425$587,365$545,892$716,099
60$760,820$556,608$504,642$708,244
61$777,010$522,470$460,135$698,690
62$792,918$484,723$412,202$687,301
63$808,453$443,132$360,669$673,925
64$823,515$397,445$305,350$658,404
65$837,989$347,396$246,055$640,564
66$851,750$292,704$182,584$620,219
67$864,656$233,074$114,728$597,169
68$876,548$168,191$42,268$571,197
69$887,249$97,726$0$542,069
70$896,562$21,328$0$520,009
71$904,268$0$0$508,427
72$910,122$0$0$506,618
73$913,853$0$0$507,736
74$915,157$0$0$507,376
75$913,698$0$0$505,336
76$909,105$0$0$501,393
77$900,963$0$0$495,301
78$888,813$0$0$486,784
79$872,146$0$0$475,539
80$850,399$0$0$461,228
81$822,946$0$0$443,479
82$789,095$0$0$421,879
83$748,082$0$0$395,970
84$699,057$0$0$365,247
85$641,085$0$0$329,150
86$573,127$0$0$287,061
87$494,037$0$0$238,295
88$402,546$0$0$182,096
89$297,255$0$0$117,630
90$176,614$0$0$43,972
91$38,912$0$0$0
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