Can I retire at age 56 with 640,000?

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 $640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$52,851$52,380$51,921$51,472$51,034$50,670
2 years$26,164$25,676$25,204$24,746$24,302$23,935
3 years$17,269$16,780$16,309$15,855$15,418$15,059
4 years$12,823$12,335$11,869$11,423$10,996$10,649
5 years$10,156$9,671$9,211$8,774$8,359$8,024
6 years$8,378$7,897$7,443$7,016$6,614$6,291
7 years$7,109$6,632$6,186$5,769$5,379$5,069
8 years$6,158$5,685$5,246$4,839$4,463$4,165
9 years$5,418$4,950$4,518$4,122$3,758$3,473
10 years$4,827$4,363$3,939$3,553$3,202$2,930
11 years$4,343$3,884$3,468$3,092$2,754$2,494
12 years$3,941$3,486$3,078$2,712$2,387$2,138
13 years$3,600$3,150$2,750$2,395$2,081$1,845
14 years$3,309$2,864$2,471$2,126$1,824$1,599
15 years$3,056$2,616$2,231$1,896$1,606$1,392
16 years$2,835$2,400$2,022$1,697$1,420$1,217
17 years$2,641$2,210$1,840$1,525$1,259$1,066
18 years$2,468$2,042$1,680$1,374$1,119$937
19 years$2,314$1,893$1,538$1,242$998$825
20 years$2,175$1,759$1,411$1,125$891$728
21 years$2,050$1,638$1,298$1,021$797$644
22 years$1,936$1,529$1,197$928$715$570
23 years$1,832$1,430$1,105$845$642$505
24 years$1,737$1,340$1,022$771$577$448
25 years$1,650$1,258$946$704$519$398
26 years$1,570$1,182$878$644$467$354
27 years$1,495$1,112$815$589$421$315
28 years$1,426$1,048$758$540$380$280
29 years$1,362$989$705$495$343$250
30 years$1,303$934$657$454$310$223
31 years$1,247$883$612$417$280$198
32 years$1,195$835$571$384$254$177
33 years$1,146$791$533$353$230$158
34 years$1,100$750$498$324$208$141
35 years$1,057$711$466$299$188$126
36 years$1,016$675$436$275$171$113
37 years$978$641$408$253$155$101
38 years$942$609$382$234$140$90
39 years$908$579$358$215$127$80
40 years$875$551$335$199$115$72
41 years$844$525$315$183$105$64
42 years$815$500$295$169$95$57
43 years$787$476$277$156$86$51
44 years$760$454$260$144$78$46
45 years$735$433$244$133$71$41
46 years$711$413$229$123$64$37
47 years$688$394$215$114$59$33
48 years$666$376$202$105$53$29
49 years$645$359$190$97$48$26
50 years$625$343$179$90$44$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $640,000, adding $5,370 every year, while hoping to spend $48,335 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: 42/46/12 Blend
55$640,000$640,000$640,000$640,000
56$710,819$676,899$666,979$737,961
57$731,895$658,639$637,895$739,251
58$753,500$637,864$606,216$735,409
59$775,638$614,401$571,806$730,182
60$798,310$588,064$534,518$723,462
61$821,517$558,658$494,204$715,138
62$845,257$525,978$450,705$705,088
63$869,527$489,804$403,857$693,188
64$894,321$449,907$353,489$679,300
65$919,632$406,042$299,421$663,282
66$945,447$357,952$241,465$644,982
67$971,755$305,363$179,425$624,236
68$998,537$247,989$113,099$600,874
69$1,025,772$185,524$42,272$574,712
70$1,053,434$117,649$0$545,556
71$1,081,494$44,023$0$517,465
72$1,109,915$0$0$492,008
73$1,138,655$0$0$481,641
74$1,167,666$0$0$493,639
75$1,196,891$0$0$505,691
76$1,226,266$0$0$517,766
77$1,255,717$0$0$529,829
78$1,285,160$0$0$541,838
79$1,314,499$0$0$553,748
80$1,343,626$0$0$565,508
81$1,372,417$0$0$577,058
82$1,400,735$0$0$588,332
83$1,428,424$0$0$599,258
84$1,455,309$0$0$609,753
85$1,481,193$0$0$619,723
86$1,505,857$0$0$629,064
87$1,529,055$0$0$637,662
88$1,550,511$0$0$645,386
89$1,569,919$0$0$652,093
90$1,586,935$0$0$657,622
91$1,601,180$0$0$661,793
92$1,612,227$0$0$664,408
93$1,619,605$0$0$665,246
94$1,622,787$0$0$664,061
95$1,621,190$0$0$660,581
96$1,614,166$0$0$654,502
97$1,600,996$0$0$645,489
98$1,580,880$0$0$633,171
99$1,552,936$0$0$617,133
100$1,516,182$0$0$596,921