Can I retire at age 56 with 630,000?

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 $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%15.1%
1 years$52,025$51,561$51,109$50,668$50,237$49,183
2 years$25,755$25,275$24,810$24,360$23,922$22,865
3 years$16,999$16,518$16,054$15,607$15,177$14,150
4 years$12,622$12,142$11,683$11,244$10,825$9,835
5 years$9,997$9,520$9,067$8,637$8,229$7,280
6 years$8,247$7,773$7,327$6,907$6,511$5,604
7 years$6,998$6,528$6,089$5,678$5,295$4,430
8 years$6,061$5,596$5,164$4,764$4,393$3,570
9 years$5,333$4,872$4,448$4,057$3,699$2,918
10 years$4,751$4,295$3,878$3,498$3,152$2,411
11 years$4,275$3,823$3,414$3,044$2,711$2,009
12 years$3,879$3,432$3,030$2,670$2,349$1,685
13 years$3,544$3,101$2,707$2,357$2,049$1,422
14 years$3,257$2,819$2,432$2,092$1,796$1,205
15 years$3,008$2,575$2,196$1,866$1,581$1,025
16 years$2,791$2,363$1,991$1,671$1,397$875
17 years$2,600$2,176$1,812$1,501$1,239$749
18 years$2,430$2,011$1,654$1,353$1,102$642
19 years$2,278$1,863$1,514$1,222$982$551
20 years$2,141$1,732$1,389$1,107$877$474
21 years$2,018$1,613$1,278$1,005$785$409
22 years$1,906$1,506$1,178$914$704$353
23 years$1,804$1,408$1,088$832$632$304
24 years$1,710$1,319$1,006$759$568$263
25 years$1,624$1,238$932$693$511$228
26 years$1,545$1,164$864$634$460$197
27 years$1,472$1,095$802$580$415$170
28 years$1,404$1,032$746$531$374$148
29 years$1,341$973$694$487$338$128
30 years$1,282$919$646$447$305$111
31 years$1,228$869$603$411$276$96
32 years$1,176$822$562$378$250$83
33 years$1,128$779$525$347$226$72
34 years$1,083$738$491$319$205$63
35 years$1,041$700$459$294$185$54
36 years$1,001$664$429$271$168$47
37 years$963$631$402$250$152$41
38 years$927$600$376$230$138$36
39 years$893$570$352$212$125$31
40 years$861$543$330$196$114$27
41 years$831$517$310$180$103$23
42 years$802$492$290$167$93$20
43 years$775$469$273$154$85$18
44 years$749$447$256$142$77$15
45 years$724$426$240$131$70$13
46 years$700$406$226$121$63$12
47 years$677$388$212$112$58$10
48 years$656$370$199$103$52$9
49 years$635$354$187$96$48$8
50 years$615$338$176$88$43$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $630,000, adding $3,285 every year, while hoping to spend $43,804 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: 61/21/18 Blend
55$630,000$630,000$630,000$630,000
56$697,648$664,258$654,493$736,792
57$722,202$650,200$629,812$749,535
58$747,791$633,985$602,835$758,262
59$774,476$615,460$573,441$766,770
60$802,321$594,466$541,499$775,044
61$831,394$570,832$506,877$783,067
62$861,772$544,378$469,432$790,824
63$893,533$514,913$429,019$798,300
64$926,766$482,236$385,483$805,482
65$961,564$446,134$338,665$812,354
66$998,030$406,381$288,397$818,907
67$1,036,275$362,739$234,504$825,129
68$1,076,419$314,957$176,803$831,012
69$1,118,592$262,769$115,105$836,549
70$1,162,937$205,893$49,210$841,739
71$1,209,608$144,033$0$846,579
72$1,258,774$76,876$0$855,130
73$1,310,616$4,091$0$873,695
74$1,365,335$0$0$892,868
75$1,423,147$0$0$929,970
76$1,484,291$0$0$970,231
77$1,549,025$0$0$1,012,879
78$1,617,633$0$0$1,058,104
79$1,690,422$0$0$1,106,111
80$1,767,731$0$0$1,157,127
81$1,849,929$0$0$1,211,401
82$1,937,421$0$0$1,269,202
83$2,030,650$0$0$1,330,827
84$2,130,099$0$0$1,396,601
85$2,236,301$0$0$1,466,880
86$2,349,837$0$0$1,542,054
87$2,471,344$0$0$1,622,551
88$2,601,522$0$0$1,708,840
89$2,741,139$0$0$1,801,434
90$2,891,037$0$0$1,900,900
91$3,052,138$0$0$2,007,856
92$3,225,457$0$0$2,122,983
93$3,412,108$0$0$2,247,029
94$3,613,313$0$0$2,380,813
95$3,830,416$0$0$2,525,239
96$4,064,893$0$0$2,681,295
97$4,318,365$0$0$2,850,071
98$4,592,616$0$0$3,032,764
99$4,889,604$0$0$3,230,689
100$5,211,483$0$0$3,445,292