Can I retire at age 56 with 638,000?

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 $638,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$52,685$52,216$51,758$51,311$50,875$50,576
2 years$26,082$25,596$25,125$24,669$24,226$23,924
3 years$17,215$16,727$16,258$15,806$15,370$15,075
4 years$12,783$12,296$11,832$11,387$10,962$10,676
5 years$10,124$9,641$9,182$8,746$8,333$8,057
6 years$8,352$7,872$7,420$6,995$6,594$6,327
7 years$7,087$6,611$6,166$5,751$5,363$5,106
8 years$6,138$5,667$5,229$4,824$4,449$4,203
9 years$5,401$4,934$4,504$4,109$3,746$3,511
10 years$4,812$4,349$3,927$3,542$3,192$2,967
11 years$4,330$3,872$3,457$3,083$2,745$2,530
12 years$3,928$3,475$3,068$2,704$2,379$2,173
13 years$3,589$3,140$2,741$2,387$2,075$1,879
14 years$3,298$2,855$2,463$2,119$1,819$1,632
15 years$3,047$2,608$2,224$1,890$1,601$1,424
16 years$2,827$2,393$2,016$1,692$1,415$1,246
17 years$2,633$2,203$1,835$1,520$1,255$1,095
18 years$2,461$2,036$1,675$1,370$1,116$964
19 years$2,307$1,887$1,533$1,238$994$851
20 years$2,168$1,754$1,407$1,121$888$752
21 years$2,043$1,633$1,294$1,018$795$666
22 years$1,930$1,525$1,193$925$713$591
23 years$1,827$1,426$1,101$843$640$525
24 years$1,732$1,336$1,019$769$575$467
25 years$1,645$1,254$943$702$517$416
26 years$1,565$1,178$875$642$466$371
27 years$1,491$1,109$812$587$420$330
28 years$1,422$1,045$755$538$379$295
29 years$1,358$986$703$494$342$263
30 years$1,299$931$655$453$309$235
31 years$1,243$880$610$416$280$210
32 years$1,191$833$569$382$253$188
33 years$1,143$789$532$352$229$168
34 years$1,097$747$497$323$207$151
35 years$1,054$709$464$298$188$135
36 years$1,013$673$435$274$170$121
37 years$975$639$407$253$154$108
38 years$939$607$381$233$140$97
39 years$905$578$357$215$127$87
40 years$872$549$334$198$115$78
41 years$841$523$314$183$104$70
42 years$812$498$294$169$95$63
43 years$784$475$276$156$86$56
44 years$758$452$259$144$78$50
45 years$733$431$243$133$71$45
46 years$709$412$229$123$64$40
47 years$686$393$215$113$58$36
48 years$664$375$202$105$53$33
49 years$643$358$190$97$48$29
50 years$623$342$178$89$44$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $638,000, adding $4,768 every year, while hoping to spend $46,185 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: 44/48/8 Blend
55$638,000$638,000$638,000$638,000
56$707,994$674,180$664,291$737,329
57$731,069$658,075$637,404$742,028
58$754,950$639,632$608,069$742,006
59$779,670$618,689$576,154$740,921
60$805,264$595,072$541,523$738,694
61$831,770$568,600$504,034$735,238
62$859,227$539,078$463,535$730,462
63$887,677$506,302$419,873$724,272
64$917,165$470,055$372,883$716,567
65$947,737$430,109$322,396$707,240
66$979,444$386,222$268,234$696,178
67$1,012,338$338,138$210,211$683,265
68$1,046,477$285,588$148,134$668,376
69$1,081,921$228,285$81,799$651,379
70$1,118,734$165,928$10,997$632,137
71$1,156,986$98,199$0$610,504
72$1,196,750$24,762$0$591,840
73$1,238,104$0$0$571,834
74$1,281,135$0$0$578,310
75$1,325,932$0$0$598,680
76$1,372,593$0$0$619,912
77$1,421,223$0$0$642,054
78$1,471,936$0$0$665,161
79$1,524,851$0$0$689,289
80$1,580,102$0$0$714,502
81$1,637,830$0$0$740,865
82$1,698,187$0$0$768,453
83$1,761,340$0$0$797,343
84$1,827,467$0$0$827,621
85$1,896,763$0$0$859,379
86$1,969,438$0$0$892,717
87$2,045,721$0$0$927,745
88$2,125,860$0$0$964,582
89$2,210,125$0$0$1,003,354
90$2,298,809$0$0$1,044,204
91$2,392,231$0$0$1,087,284
92$2,490,738$0$0$1,132,759
93$2,594,711$0$0$1,180,812
94$2,704,560$0$0$1,231,641
95$2,820,738$0$0$1,285,461
96$2,943,736$0$0$1,342,510
97$3,074,091$0$0$1,403,043
98$3,212,390$0$0$1,467,345
99$3,359,276$0$0$1,535,723
100$3,515,449$0$0$1,608,515