Can I retire at age 56 with 632,000?

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 $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%18.4%
1 years$52,190$51,725$51,272$50,829$50,397$48,686
2 years$25,837$25,355$24,889$24,437$23,998$22,292
3 years$17,053$16,570$16,105$15,657$15,226$13,577
4 years$12,663$12,181$11,720$11,280$10,859$9,281
5 years$10,029$9,550$9,095$8,664$8,255$6,752
6 years$8,273$7,798$7,350$6,929$6,532$5,105
7 years$7,020$6,549$6,108$5,697$5,312$3,961
8 years$6,081$5,614$5,180$4,779$4,407$3,130
9 years$5,350$4,888$4,462$4,070$3,711$2,507
10 years$4,766$4,308$3,890$3,509$3,162$2,030
11 years$4,289$3,835$3,425$3,054$2,720$1,656
12 years$3,891$3,442$3,039$2,678$2,357$1,359
13 years$3,555$3,111$2,715$2,365$2,055$1,122
14 years$3,267$2,828$2,440$2,099$1,801$929
15 years$3,018$2,583$2,203$1,872$1,586$772
16 years$2,800$2,370$1,997$1,676$1,402$644
17 years$2,608$2,183$1,817$1,506$1,243$538
18 years$2,437$2,017$1,659$1,357$1,105$450
19 years$2,285$1,869$1,519$1,226$985$377
20 years$2,148$1,737$1,394$1,111$880$316
21 years$2,024$1,618$1,282$1,008$787$266
22 years$1,912$1,510$1,182$917$706$223
23 years$1,809$1,413$1,091$835$634$188
24 years$1,716$1,323$1,009$761$569$158
25 years$1,629$1,242$935$695$512$133
26 years$1,550$1,167$867$636$462$112
27 years$1,477$1,099$805$582$416$95
28 years$1,409$1,035$748$533$376$80
29 years$1,345$977$696$489$339$67
30 years$1,286$922$649$449$306$57
31 years$1,231$872$605$412$277$48
32 years$1,180$825$564$379$251$40
33 years$1,132$781$527$348$227$34
34 years$1,087$740$492$320$205$29
35 years$1,044$702$460$295$186$24
36 years$1,004$667$430$272$168$21
37 years$966$633$403$250$153$17
38 years$930$602$377$231$138$15
39 years$896$572$353$213$126$12
40 years$864$544$331$196$114$10
41 years$834$518$311$181$103$9
42 years$805$493$291$167$94$7
43 years$777$470$273$154$85$6
44 years$751$448$257$142$77$5
45 years$726$427$241$132$70$4
46 years$702$408$226$121$64$4
47 years$679$389$213$112$58$3
48 years$658$371$200$104$52$3
49 years$637$355$188$96$48$2
50 years$617$339$177$89$43$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $632,000, adding $2,894 every year, while hoping to spend $43,192 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: 63/9/28 Blend
55$632,000$632,000$632,000$632,000
56$699,449$665,953$656,157$738,118
57$724,837$652,629$632,182$751,368
58$751,367$637,204$605,957$760,854
59$779,109$619,530$577,360$770,287
60$808,142$599,450$546,264$779,669
61$838,546$576,798$512,538$789,004
62$870,413$551,396$476,044$798,297
63$903,840$523,059$436,636$807,557
64$938,934$491,591$394,165$816,795
65$975,807$456,781$348,472$826,027
66$1,014,587$418,411$299,393$835,270
67$1,055,409$376,247$246,757$844,547
68$1,098,420$330,043$190,383$853,887
69$1,143,783$279,538$130,084$863,321
70$1,191,672$224,459$65,665$872,891
71$1,242,279$164,514$0$882,643
72$1,295,813$99,397$0$893,551
73$1,352,503$28,785$0$925,755
74$1,412,598$0$0$959,756
75$1,476,369$0$0$1,000,429
76$1,544,116$0$0$1,046,689
77$1,616,163$0$0$1,095,911
78$1,692,867$0$0$1,148,340
79$1,774,618$0$0$1,204,248
80$1,861,844$0$0$1,263,930
81$1,955,013$0$0$1,327,710
82$2,054,637$0$0$1,395,944
83$2,161,280$0$0$1,469,021
84$2,275,558$0$0$1,547,368
85$2,398,149$0$0$1,631,455
86$2,529,793$0$0$1,721,796
87$2,671,307$0$0$1,818,956
88$2,823,585$0$0$1,923,554
89$2,987,609$0$0$2,036,272
90$3,164,459$0$0$2,157,857
91$3,355,318$0$0$2,289,131
92$3,561,490$0$0$2,430,998
93$3,784,405$0$0$2,584,448
94$4,025,636$0$0$2,750,573
95$4,286,912$0$0$2,930,572
96$4,570,134$0$0$3,125,764
97$4,877,392$0$0$3,337,597
98$5,210,985$0$0$3,567,668
99$5,573,443$0$0$3,817,729
100$5,967,545$0$0$4,089,710