Can I retire at age 56 with 633,000?

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 $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%12.8%
1 years$52,273$51,807$51,353$50,909$50,476$49,887
2 years$25,877$25,396$24,928$24,476$24,036$23,443
3 years$17,080$16,596$16,130$15,682$15,250$14,671
4 years$12,683$12,200$11,739$11,298$10,876$10,317
5 years$10,045$9,565$9,110$8,678$8,268$7,729
6 years$8,287$7,811$7,362$6,940$6,542$6,024
7 years$7,031$6,559$6,118$5,706$5,320$4,824
8 years$6,090$5,622$5,188$4,786$4,414$3,939
9 years$5,359$4,895$4,469$4,077$3,717$3,264
10 years$4,774$4,315$3,896$3,514$3,167$2,735
11 years$4,296$3,841$3,430$3,058$2,724$2,312
12 years$3,897$3,448$3,044$2,683$2,360$1,969
13 years$3,561$3,116$2,720$2,368$2,058$1,686
14 years$3,272$2,832$2,444$2,102$1,804$1,452
15 years$3,023$2,587$2,206$1,875$1,589$1,254
16 years$2,804$2,374$2,000$1,679$1,404$1,088
17 years$2,612$2,186$1,820$1,508$1,245$946
18 years$2,441$2,020$1,662$1,359$1,107$825
19 years$2,289$1,872$1,521$1,228$987$721
20 years$2,151$1,740$1,396$1,112$881$631
21 years$2,027$1,621$1,284$1,010$789$553
22 years$1,915$1,513$1,183$918$707$486
23 years$1,812$1,415$1,093$836$635$427
24 years$1,718$1,326$1,011$763$570$375
25 years$1,632$1,244$936$696$513$331
26 years$1,552$1,169$868$637$462$291
27 years$1,479$1,100$806$583$417$257
28 years$1,411$1,037$749$534$376$227
29 years$1,348$978$697$490$340$200
30 years$1,289$924$650$449$307$177
31 years$1,233$873$606$413$277$156
32 years$1,182$826$565$379$251$138
33 years$1,134$782$528$349$227$122
34 years$1,088$742$493$321$206$108
35 years$1,046$703$461$295$186$96
36 years$1,005$668$431$272$169$85
37 years$967$634$403$251$153$75
38 years$932$603$378$231$139$66
39 years$898$573$354$213$126$59
40 years$865$545$332$197$114$52
41 years$835$519$311$181$103$46
42 years$806$494$292$167$94$41
43 years$778$471$274$154$85$36
44 years$752$449$257$143$77$32
45 years$727$428$241$132$70$28
46 years$703$408$227$122$64$25
47 years$680$390$213$112$58$22
48 years$659$372$200$104$53$20
49 years$638$355$188$96$48$18
50 years$618$339$177$89$43$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $633,000, adding $5,082 every year, while hoping to spend $53,074 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: 49/21/30 Blend
55$633,000$633,000$633,000$633,000
56$702,808$669,259$659,448$731,026
57$718,024$645,582$625,069$727,708
58$733,014$618,967$587,759$718,496
59$747,697$589,212$547,365$707,475
60$761,985$556,107$503,725$694,500
61$775,779$519,427$456,671$679,416
62$788,966$478,937$406,027$662,057
63$801,420$434,385$351,609$642,241
64$813,003$385,507$293,226$619,777
65$823,557$332,024$230,676$594,456
66$832,907$273,641$163,751$566,054
67$840,860$210,046$92,233$534,330
68$847,198$140,908$15,894$499,024
69$851,680$65,881$0$459,855
70$854,039$0$0$437,511
71$853,977$0$0$421,028
72$851,162$0$0$418,245
73$845,228$0$0$413,738
74$835,766$0$0$407,285
75$822,326$0$0$398,641
76$804,406$0$0$387,534
77$781,451$0$0$373,664
78$752,848$0$0$356,697
79$717,915$0$0$336,265
80$675,900$0$0$311,959
81$625,969$0$0$283,327
82$567,201$0$0$249,871
83$498,576$0$0$211,038
84$418,967$0$0$166,218
85$327,129$0$0$114,736
86$221,683$0$0$55,848
87$101,110$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0