Can I retire at age 56 with 633,000?

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 $633,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$52,273$51,807$51,353$50,909$50,476$49,991
2 years$25,877$25,396$24,928$24,476$24,036$23,547
3 years$17,080$16,596$16,130$15,682$15,250$14,772
4 years$12,683$12,200$11,739$11,298$10,876$10,414
5 years$10,045$9,565$9,110$8,678$8,268$7,822
6 years$8,287$7,811$7,362$6,940$6,542$6,114
7 years$7,031$6,559$6,118$5,706$5,320$4,909
8 years$6,090$5,622$5,188$4,786$4,414$4,020
9 years$5,359$4,895$4,469$4,077$3,717$3,341
10 years$4,774$4,315$3,896$3,514$3,167$2,808
11 years$4,296$3,841$3,430$3,058$2,724$2,381
12 years$3,897$3,448$3,044$2,683$2,360$2,034
13 years$3,561$3,116$2,720$2,368$2,058$1,748
14 years$3,272$2,832$2,444$2,102$1,804$1,509
15 years$3,023$2,587$2,206$1,875$1,589$1,309
16 years$2,804$2,374$2,000$1,679$1,404$1,139
17 years$2,612$2,186$1,820$1,508$1,245$994
18 years$2,441$2,020$1,662$1,359$1,107$870
19 years$2,289$1,872$1,521$1,228$987$763
20 years$2,151$1,740$1,396$1,112$881$670
21 years$2,027$1,621$1,284$1,010$789$590
22 years$1,915$1,513$1,183$918$707$520
23 years$1,812$1,415$1,093$836$635$458
24 years$1,718$1,326$1,011$763$570$405
25 years$1,632$1,244$936$696$513$358
26 years$1,552$1,169$868$637$462$317
27 years$1,479$1,100$806$583$417$280
28 years$1,411$1,037$749$534$376$249
29 years$1,348$978$697$490$340$220
30 years$1,289$924$650$449$307$195
31 years$1,233$873$606$413$277$173
32 years$1,182$826$565$379$251$154
33 years$1,134$782$528$349$227$137
34 years$1,088$742$493$321$206$121
35 years$1,046$703$461$295$186$108
36 years$1,005$668$431$272$169$96
37 years$967$634$403$251$153$85
38 years$932$603$378$231$139$76
39 years$898$573$354$213$126$67
40 years$865$545$332$197$114$60
41 years$835$519$311$181$103$53
42 years$806$494$292$167$94$47
43 years$778$471$274$154$85$42
44 years$752$449$257$143$77$38
45 years$727$428$241$132$70$33
46 years$703$408$227$122$64$30
47 years$680$390$213$112$58$26
48 years$659$372$200$104$53$24
49 years$638$355$188$96$48$21
50 years$618$339$177$89$43$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $633,000, adding $2,276 every year, while hoping to spend $24,065 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: 28/43/29 Blend
55$633,000$633,000$633,000$633,000
56$699,914$666,365$656,553$713,182
57$745,700$673,412$652,943$731,065
58$795,350$679,997$648,405$748,044
59$849,232$686,074$642,883$765,805
60$907,752$691,590$636,318$784,433
61$971,356$696,491$628,648$804,023
62$1,040,534$700,719$619,807$824,680
63$1,115,827$704,212$609,729$846,524
64$1,197,828$706,905$598,342$869,685
65$1,287,191$708,728$585,571$894,313
66$1,384,635$709,607$571,338$920,573
67$1,490,953$709,462$555,563$948,648
68$1,607,015$708,210$538,159$978,744
69$1,733,780$705,763$519,037$1,011,092
70$1,872,306$702,026$498,105$1,045,945
71$2,023,754$696,898$475,265$1,083,589
72$2,189,405$690,274$450,414$1,124,340
73$2,370,668$682,041$423,447$1,168,551
74$2,569,095$672,080$394,251$1,216,612
75$2,786,395$660,264$362,711$1,268,961
76$3,024,450$646,459$328,704$1,326,080
77$3,285,333$630,525$292,105$1,388,507
78$3,571,326$612,310$252,779$1,456,839
79$3,884,943$591,655$210,589$1,531,739
80$4,228,954$568,392$165,390$1,613,942
81$4,606,407$542,344$117,031$1,704,263
82$5,020,663$513,321$65,354$1,803,607
83$5,475,422$481,125$10,195$1,912,976
84$5,974,760$445,545$0$2,033,483
85$6,523,167$406,358$0$2,181,417
86$7,125,589$363,329$0$2,347,429
87$7,787,476$316,208$0$2,529,930
88$8,514,830$264,734$0$2,730,652
89$9,314,265$208,628$0$2,951,511
90$10,193,066$147,597$0$3,194,622
91$11,159,260$81,331$0$3,462,320
92$12,221,691$9,502$0$3,757,188
93$13,390,101$0$0$4,082,074
94$14,675,227$0$0$4,472,413
95$16,088,894$0$0$4,906,857
96$17,644,134$0$0$5,384,930
97$19,355,305$0$0$5,911,059
98$21,238,226$0$0$6,490,125
99$23,310,330$0$0$7,127,504
100$25,590,820$0$0$7,829,121