Can I retire at age 56 with 643,000?

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 $643,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$53,098$52,625$52,164$51,714$51,274$50,362
2 years$26,286$25,797$25,322$24,862$24,416$23,501
3 years$17,350$16,858$16,385$15,929$15,491$14,600
4 years$12,883$12,393$11,924$11,476$11,048$10,189
5 years$10,203$9,716$9,254$8,815$8,399$7,574
6 years$8,417$7,934$7,478$7,049$6,645$5,856
7 years$7,142$6,663$6,215$5,796$5,405$4,650
8 years$6,186$5,711$5,270$4,862$4,484$3,764
9 years$5,443$4,973$4,539$4,141$3,776$3,091
10 years$4,849$4,383$3,958$3,570$3,217$2,567
11 years$4,364$3,902$3,484$3,107$2,767$2,150
12 years$3,959$3,502$3,092$2,725$2,398$1,813
13 years$3,617$3,165$2,763$2,406$2,091$1,538
14 years$3,324$2,877$2,482$2,136$1,833$1,310
15 years$3,070$2,628$2,241$1,905$1,614$1,121
16 years$2,849$2,411$2,032$1,705$1,426$962
17 years$2,653$2,221$1,849$1,532$1,265$828
18 years$2,480$2,052$1,688$1,381$1,124$714
19 years$2,325$1,902$1,545$1,248$1,002$617
20 years$2,185$1,767$1,418$1,130$895$534
21 years$2,059$1,646$1,304$1,026$801$463
22 years$1,945$1,537$1,202$933$718$402
23 years$1,841$1,437$1,110$849$645$349
24 years$1,745$1,347$1,027$775$579$304
25 years$1,658$1,264$951$707$521$264
26 years$1,577$1,188$882$647$470$230
27 years$1,502$1,118$819$592$423$201
28 years$1,433$1,053$761$542$382$175
29 years$1,369$994$708$497$345$152
30 years$1,309$938$660$456$312$133
31 years$1,253$887$615$419$282$116
32 years$1,201$839$574$385$255$101
33 years$1,152$795$536$354$231$89
34 years$1,105$753$501$326$209$77
35 years$1,062$715$468$300$189$68
36 years$1,021$678$438$276$171$59
37 years$983$644$410$255$155$52
38 years$946$612$384$235$141$45
39 years$912$582$360$216$128$39
40 years$879$554$337$200$116$34
41 years$848$527$316$184$105$30
42 years$819$502$296$170$95$26
43 years$791$478$278$157$87$23
44 years$764$456$261$145$79$20
45 years$739$435$245$134$71$18
46 years$714$415$230$124$65$15
47 years$691$396$216$114$59$13
48 years$669$378$203$106$53$12
49 years$648$361$191$98$49$10
50 years$628$345$180$90$44$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $643,000, adding $3,470 every year, while hoping to spend $53,127 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: 57/31/12 Blend
55$643,000$643,000$643,000$643,000
56$712,165$678,086$668,120$750,430
57$728,279$654,786$633,975$753,389
58$744,257$628,563$596,906$750,438
59$760,027$599,219$556,758$745,964
60$775,511$566,542$513,371$739,830
61$790,620$530,310$466,576$731,886
62$805,255$490,286$416,198$721,972
63$819,303$446,223$362,053$709,913
64$832,640$397,855$303,949$695,521
65$845,124$344,905$241,687$678,594
66$856,600$287,078$175,056$658,910
67$866,893$224,064$103,840$636,234
68$875,807$155,535$27,810$610,307
69$883,126$81,143$0$580,850
70$888,608$522$0$554,392
71$891,984$0$0$528,020
72$892,956$0$0$527,430
73$891,192$0$0$525,268
74$886,323$0$0$521,122
75$877,941$0$0$514,735
76$865,593$0$0$505,821
77$848,774$0$0$494,063
78$826,930$0$0$479,111
79$799,442$0$0$460,575
80$765,627$0$0$438,024
81$724,730$0$0$410,984
82$675,913$0$0$378,926
83$618,250$0$0$341,268
84$550,718$0$0$297,365
85$472,183$0$0$246,505
86$381,395$0$0$187,899
87$276,970$0$0$120,678
88$157,378$0$0$43,878
89$20,931$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0