Can I retire at age 56 with 632,000?

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 $632,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$52,190$51,725$51,272$50,829$50,397$49,419
2 years$25,837$25,355$24,889$24,437$23,998$23,018
3 years$17,053$16,570$16,105$15,657$15,226$14,272
4 years$12,663$12,181$11,720$11,280$10,859$9,940
5 years$10,029$9,550$9,095$8,664$8,255$7,373
6 years$8,273$7,798$7,350$6,929$6,532$5,688
7 years$7,020$6,549$6,108$5,697$5,312$4,507
8 years$6,081$5,614$5,180$4,779$4,407$3,640
9 years$5,350$4,888$4,462$4,070$3,711$2,982
10 years$4,766$4,308$3,890$3,509$3,162$2,470
11 years$4,289$3,835$3,425$3,054$2,720$2,063
12 years$3,891$3,442$3,039$2,678$2,357$1,736
13 years$3,555$3,111$2,715$2,365$2,055$1,468
14 years$3,267$2,828$2,440$2,099$1,801$1,248
15 years$3,018$2,583$2,203$1,872$1,586$1,065
16 years$2,800$2,370$1,997$1,676$1,402$911
17 years$2,608$2,183$1,817$1,506$1,243$782
18 years$2,437$2,017$1,659$1,357$1,105$672
19 years$2,285$1,869$1,519$1,226$985$579
20 years$2,148$1,737$1,394$1,111$880$500
21 years$2,024$1,618$1,282$1,008$787$432
22 years$1,912$1,510$1,182$917$706$374
23 years$1,809$1,413$1,091$835$634$324
24 years$1,716$1,323$1,009$761$569$281
25 years$1,629$1,242$935$695$512$243
26 years$1,550$1,167$867$636$462$211
27 years$1,477$1,099$805$582$416$184
28 years$1,409$1,035$748$533$376$160
29 years$1,345$977$696$489$339$139
30 years$1,286$922$649$449$306$121
31 years$1,231$872$605$412$277$105
32 years$1,180$825$564$379$251$91
33 years$1,132$781$527$348$227$79
34 years$1,087$740$492$320$205$69
35 years$1,044$702$460$295$186$60
36 years$1,004$667$430$272$168$52
37 years$966$633$403$250$153$46
38 years$930$602$377$231$138$40
39 years$896$572$353$213$126$35
40 years$864$544$331$196$114$30
41 years$834$518$311$181$103$26
42 years$805$493$291$167$94$23
43 years$777$470$273$154$85$20
44 years$751$448$257$142$77$17
45 years$726$427$241$132$70$15
46 years$702$408$226$121$64$13
47 years$679$389$213$112$58$12
48 years$658$371$200$104$52$10
49 years$637$355$188$96$48$9
50 years$617$339$177$89$43$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $632,000, adding $4,507 every year, while hoping to spend $43,167 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: 45/38/17 Blend
55$632,000$632,000$632,000$632,000
56$701,113$667,617$657,821$729,057
57$726,697$654,401$633,929$735,829
58$753,444$639,090$607,789$738,499
59$781,427$621,537$579,282$740,475
60$810,725$601,585$548,280$741,711
61$841,423$579,067$514,651$742,162
62$873,614$553,808$478,259$741,778
63$907,400$525,621$438,957$740,510
64$942,889$494,311$396,597$738,308
65$980,201$459,669$351,019$735,120
66$1,019,464$421,475$302,061$730,894
67$1,060,819$379,497$249,550$725,578
68$1,104,420$333,490$193,307$719,117
69$1,150,433$283,193$133,145$711,458
70$1,199,040$228,333$68,869$702,548
71$1,250,440$168,619$273$692,334
72$1,304,849$103,745$0$680,765
73$1,362,504$33,390$0$681,018
74$1,423,664$0$0$680,730
75$1,488,611$0$0$697,740
76$1,557,654$0$0$730,703
77$1,631,131$0$0$765,826
78$1,709,413$0$0$803,290
79$1,792,904$0$0$843,295
80$1,882,050$0$0$886,059
81$1,977,336$0$0$931,823
82$2,079,295$0$0$980,849
83$2,188,513$0$0$1,033,426
84$2,305,630$0$0$1,089,871
85$2,431,351$0$0$1,150,532
86$2,566,448$0$0$1,215,788
87$2,711,768$0$0$1,286,060
88$2,868,242$0$0$1,361,806
89$3,036,893$0$0$1,443,532
90$3,218,843$0$0$1,531,794
91$3,415,326$0$0$1,627,200
92$3,627,698$0$0$1,730,422
93$3,857,447$0$0$1,842,195
94$4,106,212$0$0$1,963,330
95$4,375,793$0$0$2,094,718
96$4,668,171$0$0$2,237,338
97$4,985,521$0$0$2,392,267
98$5,330,238$0$0$2,560,691
99$5,704,957$0$0$2,743,913
100$6,112,574$0$0$2,943,367