Can I retire at age 56 with 629,000?

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 $629,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$51,942$51,480$51,028$50,588$50,157$49,820
2 years$25,714$25,235$24,771$24,321$23,884$23,545
3 years$16,972$16,491$16,028$15,583$15,153$14,821
4 years$12,602$12,123$11,665$11,226$10,807$10,485
5 years$9,981$9,505$9,052$8,623$8,216$7,905
6 years$8,234$7,761$7,316$6,896$6,501$6,201
7 years$6,987$6,518$6,079$5,669$5,287$4,999
8 years$6,052$5,587$5,156$4,756$4,386$4,110
9 years$5,325$4,864$4,441$4,051$3,694$3,429
10 years$4,744$4,288$3,871$3,492$3,147$2,894
11 years$4,269$3,817$3,408$3,039$2,707$2,465
12 years$3,873$3,426$3,025$2,666$2,346$2,115
13 years$3,538$3,096$2,702$2,353$2,045$1,826
14 years$3,252$2,814$2,428$2,089$1,793$1,584
15 years$3,004$2,571$2,192$1,863$1,579$1,380
16 years$2,787$2,359$1,988$1,668$1,395$1,207
17 years$2,596$2,172$1,809$1,499$1,237$1,058
18 years$2,426$2,007$1,651$1,351$1,100$931
19 years$2,274$1,860$1,511$1,221$980$820
20 years$2,138$1,729$1,387$1,105$876$724
21 years$2,015$1,610$1,276$1,003$784$641
22 years$1,903$1,503$1,176$912$702$567
23 years$1,801$1,406$1,086$831$631$503
24 years$1,707$1,317$1,004$758$567$447
25 years$1,622$1,236$930$692$510$397
26 years$1,543$1,162$863$633$459$353
27 years$1,470$1,093$801$579$414$315
28 years$1,402$1,030$745$531$374$280
29 years$1,339$972$693$487$337$250
30 years$1,280$918$645$447$305$223
31 years$1,226$868$602$410$276$199
32 years$1,174$821$561$377$249$178
33 years$1,126$778$524$347$226$159
34 years$1,081$737$490$319$204$142
35 years$1,039$699$458$294$185$127
36 years$999$663$428$270$168$113
37 years$961$630$401$249$152$101
38 years$926$599$375$230$138$91
39 years$892$569$352$212$125$81
40 years$860$542$330$195$113$73
41 years$830$516$309$180$103$65
42 years$801$491$290$166$93$58
43 years$773$468$272$153$85$52
44 years$747$446$255$142$77$47
45 years$722$425$240$131$70$42
46 years$699$406$225$121$63$37
47 years$676$387$212$112$58$33
48 years$655$370$199$103$52$30
49 years$634$353$187$95$47$27
50 years$614$337$176$88$43$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $629,000, adding $5,399 every year, while hoping to spend $35,853 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: 70/24/6 Blend
55$629,000$629,000$629,000$629,000
56$698,727$665,390$655,641$746,699
57$731,850$659,847$639,457$773,574
58$767,150$652,830$621,530$798,028
59$804,810$644,231$601,763$823,795
60$845,034$633,931$580,055$850,993
61$888,042$621,808$556,301$879,756
62$934,076$607,730$530,391$910,232
63$983,402$591,560$502,210$942,583
64$1,036,313$573,149$471,637$976,991
65$1,093,127$552,344$438,547$1,013,654
66$1,154,196$528,979$402,809$1,052,796
67$1,219,906$502,881$364,284$1,094,660
68$1,290,679$473,865$322,831$1,139,519
69$1,366,981$441,737$278,299$1,187,672
70$1,449,323$406,292$230,531$1,239,453
71$1,538,265$367,311$179,365$1,295,230
72$1,634,424$324,566$124,630$1,355,409
73$1,738,478$277,812$66,148$1,420,442
74$1,851,172$226,794$3,733$1,490,828
75$1,973,324$171,240$0$1,567,117
76$2,105,837$110,864$0$1,653,946
77$2,249,699$45,363$0$1,748,481
78$2,406,001$0$0$1,851,243
79$2,575,941$0$0$1,969,828
80$2,760,837$0$0$2,111,913
81$2,962,141$0$0$2,266,638
82$3,181,448$0$0$2,435,233
83$3,420,515$0$0$2,619,053
84$3,681,275$0$0$2,819,589
85$3,965,857$0$0$3,038,481
86$4,276,603$0$0$3,277,535
87$4,616,091$0$0$3,538,741
88$4,987,160$0$0$3,824,287
89$5,392,935$0$0$4,136,584
90$5,836,857$0$0$4,478,284
91$6,322,716$0$0$4,852,311
92$6,854,683$0$0$5,261,882
93$7,437,352$0$0$5,710,540
94$8,075,784$0$0$6,202,187
95$8,775,550$0$0$6,741,121
96$9,542,788$0$0$7,332,076
97$10,384,255$0$0$7,980,263
98$11,307,398$0$0$8,691,426
99$12,320,416$0$0$9,471,888
100$13,432,341$0$0$10,328,616