Can I retire at age 56 with 631,000?

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 $631,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$52,107$51,643$51,190$50,748$50,317$49,626
2 years$25,796$25,315$24,850$24,398$23,960$23,266
3 years$17,026$16,544$16,079$15,632$15,201$14,525
4 years$12,642$12,161$11,702$11,262$10,842$10,188
5 years$10,013$9,535$9,081$8,650$8,242$7,613
6 years$8,260$7,786$7,339$6,918$6,521$5,918
7 years$7,009$6,539$6,099$5,687$5,304$4,726
8 years$6,071$5,605$5,172$4,771$4,400$3,848
9 years$5,342$4,880$4,455$4,064$3,705$3,178
10 years$4,759$4,301$3,884$3,503$3,157$2,655
11 years$4,282$3,829$3,419$3,049$2,715$2,238
12 years$3,885$3,437$3,034$2,674$2,353$1,900
13 years$3,549$3,106$2,711$2,361$2,052$1,622
14 years$3,262$2,823$2,436$2,096$1,799$1,391
15 years$3,013$2,579$2,199$1,869$1,584$1,198
16 years$2,796$2,366$1,994$1,674$1,400$1,036
17 years$2,604$2,179$1,814$1,504$1,241$897
18 years$2,434$2,014$1,656$1,355$1,103$780
19 years$2,281$1,866$1,516$1,224$984$679
20 years$2,145$1,734$1,392$1,109$879$592
21 years$2,021$1,615$1,280$1,006$786$517
22 years$1,909$1,508$1,180$915$705$452
23 years$1,806$1,410$1,089$833$633$396
24 years$1,713$1,321$1,007$760$569$347
25 years$1,627$1,240$933$694$512$304
26 years$1,548$1,165$865$635$461$267
27 years$1,474$1,097$804$581$415$235
28 years$1,406$1,034$747$532$375$206
29 years$1,343$975$695$488$339$181
30 years$1,284$921$648$448$306$160
31 years$1,230$870$604$411$277$140
32 years$1,178$824$563$378$250$124
33 years$1,130$780$526$348$226$109
34 years$1,085$739$491$320$205$96
35 years$1,042$701$459$295$186$85
36 years$1,002$666$430$271$168$75
37 years$964$632$402$250$152$66
38 years$929$601$377$230$138$58
39 years$895$571$353$212$125$51
40 years$863$543$331$196$114$45
41 years$832$517$310$181$103$40
42 years$803$493$291$167$94$35
43 years$776$469$273$154$85$31
44 years$750$447$256$142$77$27
45 years$725$427$241$131$70$24
46 years$701$407$226$121$64$21
47 years$678$388$212$112$58$19
48 years$657$371$200$104$52$17
49 years$636$354$188$96$48$15
50 years$616$338$176$88$43$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $631,000, adding $5,352 every year, while hoping to spend $30,104 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: 49/37/14 Blend
55$631,000$631,000$631,000$631,000
56$700,883$667,440$657,659$732,271
57$740,342$668,114$647,660$755,127
58$782,818$667,812$636,317$776,378
59$828,585$666,455$623,554$798,793
60$877,947$663,957$609,289$822,493
61$931,237$660,230$593,440$847,609
62$988,820$655,178$575,917$874,289
63$1,051,098$648,700$556,628$902,699
64$1,118,513$640,690$535,479$933,021
65$1,191,551$631,034$512,367$965,460
66$1,270,746$619,611$487,188$1,000,241
67$1,356,685$606,295$459,831$1,037,616
68$1,450,013$590,950$430,183$1,077,867
69$1,551,443$573,434$398,122$1,121,302
70$1,661,754$553,596$363,523$1,168,269
71$1,781,806$531,277$326,255$1,219,150
72$1,912,547$506,305$286,180$1,274,370
73$2,055,017$478,504$243,157$1,334,402
74$2,210,361$447,683$197,036$1,399,770
75$2,379,841$413,643$147,659$1,471,054
76$2,564,844$376,171$94,866$1,548,898
77$2,766,899$335,045$38,485$1,634,016
78$2,987,688$290,027$0$1,727,198
79$3,229,062$240,868$0$1,832,561
80$3,493,060$187,304$0$1,954,181
81$3,781,926$129,056$0$2,087,408
82$4,098,133$65,831$0$2,233,461
83$4,444,403$0$0$2,393,690
84$4,823,732$0$0$2,570,677
85$5,239,421$0$0$2,794,069
86$5,695,107$0$0$3,039,024
87$6,194,792$0$0$3,307,703
88$6,742,887$0$0$3,602,487
89$7,344,249$0$0$3,925,996
90$8,004,227$0$0$4,281,119
91$8,728,716$0$0$4,671,037
92$9,524,206$0$0$5,099,253
93$10,397,849$0$0$5,569,629
94$11,357,522$0$0$6,086,415
95$12,411,903$0$0$6,654,298
96$13,570,552$0$0$7,278,437
97$14,844,002$0$0$7,964,518
98$16,243,854$0$0$8,718,806
99$17,782,893$0$0$9,548,201
100$19,475,203$0$0$10,460,307