Can I retire at age 56 with 637,000?

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 $637,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$52,603$52,134$51,677$51,231$50,795$50,560
2 years$26,041$25,556$25,086$24,630$24,188$23,951
3 years$17,188$16,701$16,232$15,781$15,346$15,114
4 years$12,763$12,277$11,813$11,369$10,945$10,719
5 years$10,108$9,625$9,167$8,733$8,320$8,102
6 years$8,339$7,860$7,409$6,984$6,583$6,373
7 years$7,076$6,601$6,157$5,742$5,354$5,152
8 years$6,129$5,658$5,221$4,816$4,442$4,248
9 years$5,393$4,926$4,497$4,103$3,741$3,555
10 years$4,804$4,342$3,921$3,536$3,187$3,009
11 years$4,323$3,866$3,452$3,078$2,741$2,571
12 years$3,922$3,470$3,063$2,700$2,375$2,213
13 years$3,583$3,136$2,737$2,383$2,071$1,916
14 years$3,293$2,850$2,459$2,116$1,816$1,668
15 years$3,042$2,604$2,220$1,887$1,599$1,458
16 years$2,822$2,389$2,013$1,689$1,413$1,279
17 years$2,629$2,200$1,832$1,518$1,253$1,126
18 years$2,457$2,033$1,672$1,368$1,114$993
19 years$2,303$1,884$1,531$1,236$993$878
20 years$2,165$1,751$1,405$1,120$887$779
21 years$2,040$1,631$1,292$1,016$794$691
22 years$1,927$1,522$1,191$924$711$615
23 years$1,824$1,424$1,100$841$639$547
24 years$1,729$1,334$1,017$767$574$488
25 years$1,642$1,252$942$701$516$435
26 years$1,562$1,177$874$641$465$389
27 years$1,488$1,107$811$586$419$347
28 years$1,420$1,043$754$537$378$311
29 years$1,356$984$702$493$342$278
30 years$1,297$930$654$452$309$249
31 years$1,241$879$609$415$279$223
32 years$1,189$831$569$382$253$200
33 years$1,141$787$531$351$229$180
34 years$1,095$746$496$323$207$161
35 years$1,052$708$464$297$187$145
36 years$1,012$672$434$274$170$130
37 years$974$638$406$252$154$117
38 years$937$606$380$233$140$105
39 years$903$577$356$214$127$94
40 years$871$549$334$198$115$85
41 years$840$522$313$182$104$76
42 years$811$497$294$168$94$68
43 years$783$474$276$155$86$61
44 years$757$452$259$144$78$55
45 years$732$431$243$133$71$50
46 years$708$411$228$122$64$45
47 years$685$392$214$113$58$40
48 years$663$374$201$105$53$36
49 years$642$357$189$97$48$32
50 years$622$341$178$89$44$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $637,000, adding $5,164 every year, while hoping to spend $42,510 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: 49/44/7 Blend
55$637,000$637,000$637,000$637,000
56$707,301$673,540$663,666$740,427
57$734,215$661,313$640,669$751,388
58$762,450$647,062$615,476$758,339
59$792,095$630,643$587,970$764,888
60$823,248$611,904$558,026$771,006
61$856,015$590,683$525,516$776,669
62$890,511$566,810$490,303$781,848
63$926,863$540,102$452,247$786,520
64$965,205$510,370$411,201$790,659
65$1,005,689$477,411$367,008$794,240
66$1,048,476$441,011$319,510$797,242
67$1,093,744$400,943$268,537$799,644
68$1,141,686$356,970$213,913$801,427
69$1,192,514$308,838$155,455$802,576
70$1,246,460$256,280$92,972$803,080
71$1,303,776$199,015$26,264$802,929
72$1,364,739$136,744$0$802,122
73$1,429,651$69,153$0$804,016
74$1,498,844$0$0$807,576
75$1,572,681$0$0$812,854
76$1,651,559$0$0$854,301
77$1,735,914$0$0$898,670
78$1,826,225$0$0$946,217
79$1,923,014$0$0$997,224
80$2,026,857$0$0$1,052,001
81$2,138,385$0$0$1,110,886
82$2,258,289$0$0$1,174,252
83$2,387,330$0$0$1,242,508
84$2,526,342$0$0$1,316,104
85$2,676,241$0$0$1,395,532
86$2,838,035$0$0$1,481,336
87$3,012,830$0$0$1,574,110
88$3,201,841$0$0$1,674,511
89$3,406,405$0$0$1,783,257
90$3,627,990$0$0$1,901,141
91$3,868,213$0$0$2,029,032
92$4,128,848$0$0$2,167,889
93$4,411,850$0$0$2,318,763
94$4,719,366$0$0$2,482,814
95$5,053,761$0$0$2,661,316
96$5,417,634$0$0$2,855,670
97$5,813,846$0$0$3,067,420
98$6,245,546$0$0$3,298,263
99$6,716,198$0$0$3,550,068
100$7,229,615$0$0$3,824,892