Can I retire at age 56 with 639,000?

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 $639,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$52,768$52,298$51,839$51,392$50,955$49,683
2 years$26,123$25,636$25,165$24,708$24,264$22,991
3 years$17,242$16,754$16,283$15,830$15,394$14,159
4 years$12,803$12,316$11,850$11,405$10,979$9,792
5 years$10,140$9,656$9,196$8,760$8,346$7,210
6 years$8,365$7,885$7,432$7,005$6,604$5,520
7 years$7,098$6,621$6,176$5,760$5,371$4,339
8 years$6,148$5,676$5,238$4,832$4,456$3,476
9 years$5,410$4,942$4,511$4,115$3,752$2,824
10 years$4,819$4,356$3,933$3,548$3,197$2,319
11 years$4,336$3,878$3,463$3,087$2,750$1,920
12 years$3,934$3,481$3,073$2,708$2,383$1,601
13 years$3,594$3,145$2,745$2,391$2,078$1,341
14 years$3,303$2,859$2,467$2,122$1,821$1,129
15 years$3,051$2,612$2,227$1,893$1,604$954
16 years$2,831$2,396$2,019$1,695$1,417$808
17 years$2,637$2,207$1,837$1,523$1,257$687
18 years$2,464$2,039$1,677$1,372$1,117$584
19 years$2,310$1,890$1,536$1,240$996$498
20 years$2,172$1,756$1,409$1,123$890$425
21 years$2,047$1,636$1,296$1,019$796$364
22 years$1,933$1,527$1,195$927$714$311
23 years$1,829$1,428$1,103$844$641$267
24 years$1,735$1,338$1,020$770$576$229
25 years$1,647$1,256$945$703$518$196
26 years$1,567$1,180$876$643$467$168
27 years$1,493$1,111$814$588$421$145
28 years$1,424$1,047$756$539$380$124
29 years$1,360$987$704$494$343$107
30 years$1,301$932$656$454$310$92
31 years$1,245$882$611$417$280$79
32 years$1,193$834$570$383$253$68
33 years$1,144$790$533$352$229$58
34 years$1,099$749$498$324$208$50
35 years$1,055$710$465$298$188$43
36 years$1,015$674$435$275$170$37
37 years$977$640$407$253$154$32
38 years$940$608$381$233$140$28
39 years$906$578$357$215$127$24
40 years$874$550$335$198$115$20
41 years$843$524$314$183$104$18
42 years$814$499$295$169$95$15
43 years$786$475$276$156$86$13
44 years$759$453$260$144$78$11
45 years$734$432$244$133$71$10
46 years$710$412$229$123$64$8
47 years$687$393$215$113$58$7
48 years$665$376$202$105$53$6
49 years$644$359$190$97$48$5
50 years$624$343$179$90$44$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $639,000, adding $3,261 every year, while hoping to spend $37,550 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: 74/19/7 Blend
55$639,000$639,000$639,000$639,000
56$707,542$673,675$663,770$758,984
57$739,758$666,732$646,054$786,364
58$774,002$658,190$626,485$811,281
59$810,441$647,932$604,963$837,508
60$849,257$635,832$581,380$865,160
61$890,651$621,758$555,627$894,369
62$934,843$605,570$527,586$925,275
63$982,073$587,118$497,135$958,038
64$1,032,604$566,247$464,149$992,831
65$1,086,726$542,789$428,494$1,029,848
66$1,144,755$516,569$390,032$1,069,301
67$1,207,040$487,400$348,618$1,111,428
68$1,273,961$455,087$304,100$1,156,490
69$1,345,938$419,419$256,321$1,204,775
70$1,423,431$380,178$205,115$1,256,602
71$1,506,945$337,130$150,310$1,312,325
72$1,597,035$290,031$91,726$1,372,335
73$1,694,309$238,619$29,176$1,437,063
74$1,799,439$182,621$0$1,506,987
75$1,913,159$121,747$0$1,585,441
76$2,036,279$55,691$0$1,672,710
77$2,169,689$0$0$1,767,274
78$2,314,367$0$0$1,873,180
79$2,471,388$0$0$2,000,782
80$2,641,935$0$0$2,139,401
81$2,827,310$0$0$2,290,096
82$3,028,944$0$0$2,454,036
83$3,248,411$0$0$2,632,503
84$3,487,446$0$0$2,826,911
85$3,747,955$0$0$3,038,814
86$4,032,036$0$0$3,269,923
87$4,342,000$0$0$3,522,121
88$4,680,389$0$0$3,797,482
89$5,050,002$0$0$4,098,287
90$5,453,921$0$0$4,427,048
91$5,895,537$0$0$4,786,531
92$6,378,585$0$0$5,179,781
93$6,907,178$0$0$5,610,150
94$7,485,844$0$0$6,081,331
95$8,119,569$0$0$6,597,389
96$8,813,844$0$0$7,162,802
97$9,574,716$0$0$7,782,500
98$10,408,847$0$0$8,461,914
99$11,323,570$0$0$9,207,024
100$12,326,965$0$0$10,024,418