Can I retire at age 56 with 634,000?

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 $634,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$52,355$51,889$51,434$50,990$50,556$49,475
2 years$25,918$25,436$24,968$24,514$24,074$22,990
3 years$17,107$16,622$16,156$15,707$15,274$14,221
4 years$12,703$12,219$11,757$11,316$10,893$9,879
5 years$10,060$9,580$9,124$8,692$8,281$7,309
6 years$8,300$7,823$7,374$6,951$6,552$5,623
7 years$7,042$6,570$6,128$5,715$5,329$4,443
8 years$6,100$5,631$5,197$4,794$4,421$3,578
9 years$5,367$4,903$4,476$4,083$3,723$2,922
10 years$4,781$4,322$3,902$3,520$3,172$2,413
11 years$4,302$3,848$3,435$3,063$2,728$2,010
12 years$3,904$3,453$3,049$2,687$2,364$1,685
13 years$3,566$3,121$2,724$2,372$2,062$1,421
14 years$3,278$2,837$2,447$2,106$1,807$1,203
15 years$3,027$2,591$2,210$1,878$1,591$1,023
16 years$2,809$2,378$2,003$1,681$1,406$872
17 years$2,616$2,190$1,823$1,511$1,247$746
18 years$2,445$2,023$1,664$1,362$1,109$639
19 years$2,292$1,875$1,524$1,230$988$549
20 years$2,155$1,743$1,398$1,114$883$472
21 years$2,031$1,623$1,286$1,011$790$406
22 years$1,918$1,515$1,185$919$708$350
23 years$1,815$1,417$1,094$837$636$302
24 years$1,721$1,328$1,012$764$571$261
25 years$1,635$1,246$937$697$514$225
26 years$1,555$1,171$869$638$463$195
27 years$1,481$1,102$807$584$417$169
28 years$1,413$1,038$751$535$377$146
29 years$1,350$980$698$490$340$126
30 years$1,291$925$651$450$307$109
31 years$1,235$875$607$413$278$95
32 years$1,184$828$566$380$251$82
33 years$1,135$784$528$349$227$71
34 years$1,090$743$494$321$206$62
35 years$1,047$705$462$296$187$54
36 years$1,007$669$432$273$169$46
37 years$969$635$404$251$153$40
38 years$933$604$378$231$139$35
39 years$899$574$355$213$126$30
40 years$867$546$332$197$114$26
41 years$836$520$312$182$104$23
42 years$807$495$292$168$94$20
43 years$780$472$274$155$85$17
44 years$753$450$257$143$77$15
45 years$728$429$242$132$70$13
46 years$704$409$227$122$64$11
47 years$682$390$213$113$58$10
48 years$660$373$200$104$53$8
49 years$639$356$188$96$48$7
50 years$619$340$177$89$43$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $634,000, adding $2,678 every year, while hoping to spend $40,436 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: 29/46/25 Blend
55$634,000$634,000$634,000$634,000
56$701,430$667,828$658,001$716,261
57$729,953$657,528$637,021$717,755
58$760,029$645,368$613,982$715,628
59$791,775$631,215$588,774$712,516
60$825,318$614,925$561,279$708,358
61$860,794$596,351$531,376$703,096
62$898,354$575,332$498,936$696,669
63$938,164$551,700$463,828$689,012
64$980,401$525,278$425,911$680,063
65$1,025,263$495,877$385,040$669,754
66$1,072,963$463,299$341,062$658,021
67$1,123,738$427,333$293,820$644,794
68$1,177,843$387,757$243,147$630,007
69$1,235,561$344,335$188,871$613,592
70$1,297,200$296,819$130,810$595,479
71$1,363,098$244,946$68,775$575,603
72$1,433,626$188,440$2,571$553,897
73$1,509,189$127,007$0$530,296
74$1,590,234$60,338$0$522,898
75$1,677,249$0$0$515,397
76$1,770,771$0$0$513,132
77$1,871,389$0$0$543,625
78$1,979,751$0$0$576,540
79$2,096,566$0$0$612,103
80$2,222,615$0$0$650,562
81$2,358,755$0$0$692,187
82$2,505,928$0$0$737,280
83$2,665,171$0$0$786,169
84$2,837,621$0$0$839,215
85$3,024,529$0$0$896,817
86$3,227,273$0$0$959,412
87$3,447,365$0$0$1,027,482
88$3,686,470$0$0$1,101,557
89$3,946,420$0$0$1,182,220
90$4,229,228$0$0$1,270,112
91$4,537,111$0$0$1,365,939
92$4,872,508$0$0$1,470,478
93$5,238,102$0$0$1,584,585
94$5,636,849$0$0$1,709,200
95$6,071,997$0$0$1,845,360
96$6,547,127$0$0$1,994,205
97$7,066,178$0$0$2,156,992
98$7,633,486$0$0$2,335,104
99$8,253,826$0$0$2,530,064
100$8,932,454$0$0$2,743,547