Can I retire at age 56 with 630,000?

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 $630,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$52,025$51,561$51,109$50,668$50,237$48,571
2 years$25,755$25,275$24,810$24,360$23,922$22,260
3 years$16,999$16,518$16,054$15,607$15,177$13,571
4 years$12,622$12,142$11,683$11,244$10,825$9,286
5 years$9,997$9,520$9,067$8,637$8,229$6,762
6 years$8,247$7,773$7,327$6,907$6,511$5,118
7 years$6,998$6,528$6,089$5,678$5,295$3,976
8 years$6,061$5,596$5,164$4,764$4,393$3,146
9 years$5,333$4,872$4,448$4,057$3,699$2,523
10 years$4,751$4,295$3,878$3,498$3,152$2,045
11 years$4,275$3,823$3,414$3,044$2,711$1,670
12 years$3,879$3,432$3,030$2,670$2,349$1,373
13 years$3,544$3,101$2,707$2,357$2,049$1,135
14 years$3,257$2,819$2,432$2,092$1,796$941
15 years$3,008$2,575$2,196$1,866$1,581$784
16 years$2,791$2,363$1,991$1,671$1,397$654
17 years$2,600$2,176$1,812$1,501$1,239$547
18 years$2,430$2,011$1,654$1,353$1,102$458
19 years$2,278$1,863$1,514$1,222$982$385
20 years$2,141$1,732$1,389$1,107$877$323
21 years$2,018$1,613$1,278$1,005$785$272
22 years$1,906$1,506$1,178$914$704$229
23 years$1,804$1,408$1,088$832$632$193
24 years$1,710$1,319$1,006$759$568$163
25 years$1,624$1,238$932$693$511$137
26 years$1,545$1,164$864$634$460$116
27 years$1,472$1,095$802$580$415$98
28 years$1,404$1,032$746$531$374$83
29 years$1,341$973$694$487$338$70
30 years$1,282$919$646$447$305$59
31 years$1,228$869$603$411$276$50
32 years$1,176$822$562$378$250$42
33 years$1,128$779$525$347$226$36
34 years$1,083$738$491$319$205$30
35 years$1,041$700$459$294$185$25
36 years$1,001$664$429$271$168$22
37 years$963$631$402$250$152$18
38 years$927$600$376$230$138$15
39 years$893$570$352$212$125$13
40 years$861$543$330$196$114$11
41 years$831$517$310$180$103$9
42 years$802$492$290$167$93$8
43 years$775$469$273$154$85$7
44 years$749$447$256$142$77$6
45 years$724$426$240$131$70$5
46 years$700$406$226$121$63$4
47 years$677$388$212$112$58$3
48 years$656$370$199$103$52$3
49 years$635$354$187$96$48$2
50 years$615$338$176$88$43$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $630,000, adding $4,303 every year, while hoping to spend $25,973 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: 33/48/19 Blend
55$630,000$630,000$630,000$630,000
56$698,699$665,309$655,544$717,529
57$742,331$670,274$649,869$736,820
58$789,543$674,611$643,134$754,906
59$840,673$678,264$635,276$773,853
60$896,092$681,169$626,228$793,751
61$956,208$683,261$615,921$814,704
62$1,021,471$684,471$604,284$836,823
63$1,092,373$684,722$591,240$860,238
64$1,169,460$683,938$576,711$885,090
65$1,253,328$682,034$560,614$911,538
66$1,344,634$678,921$542,862$939,760
67$1,444,103$674,504$523,364$969,954
68$1,552,531$668,684$502,026$1,002,340
69$1,670,794$661,355$478,749$1,037,164
70$1,799,857$652,403$453,429$1,074,700
71$1,940,781$641,710$425,958$1,115,252
72$2,094,737$629,149$396,223$1,159,161
73$2,263,009$614,586$364,105$1,206,804
74$2,447,015$597,880$329,482$1,258,600
75$2,648,315$578,881$292,224$1,315,016
76$2,868,626$557,429$252,197$1,376,570
77$3,109,840$533,357$209,259$1,443,837
78$3,374,039$506,487$163,265$1,517,457
79$3,663,517$476,631$114,060$1,598,139
80$3,980,799$443,589$61,484$1,686,670
81$4,328,667$407,152$5,371$1,783,924
82$4,710,186$367,097$0$1,890,867
83$5,128,729$323,189$0$2,019,625
84$5,588,014$275,180$0$2,162,216
85$6,092,135$222,807$0$2,318,906
86$6,645,602$165,793$0$2,491,197
87$7,253,382$103,846$0$2,680,747
88$7,920,949$36,657$0$2,889,390
89$8,654,331$0$0$3,119,153
90$9,460,169$0$0$3,391,348
91$10,345,781$0$0$3,711,868
92$11,319,226$0$0$4,064,281
93$12,389,385$0$0$4,451,815
94$13,566,041$0$0$4,878,026
95$14,859,974$0$0$5,346,833
96$16,283,060$0$0$5,862,552
97$17,848,382$0$0$6,429,941
98$19,570,358$0$0$7,054,239
99$21,464,870$0$0$7,741,222
100$23,549,420$0$0$8,497,251