Can I retire at age 56 with 644,000?

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 $644,000?

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$53,181$52,707$52,245$51,794$51,353$51,116
2 years$26,327$25,837$25,362$24,901$24,454$24,214
3 years$17,377$16,885$16,411$15,954$15,515$15,280
4 years$12,903$12,412$11,943$11,494$11,065$10,837
5 years$10,219$9,731$9,268$8,829$8,412$8,191
6 years$8,431$7,946$7,490$7,060$6,656$6,444
7 years$7,153$6,673$6,224$5,805$5,413$5,209
8 years$6,196$5,720$5,279$4,869$4,491$4,294
9 years$5,452$4,980$4,546$4,148$3,782$3,594
10 years$4,857$4,390$3,964$3,575$3,222$3,042
11 years$4,370$3,908$3,490$3,112$2,771$2,599
12 years$3,965$3,508$3,097$2,729$2,401$2,237
13 years$3,623$3,170$2,767$2,410$2,094$1,937
14 years$3,329$2,881$2,486$2,139$1,836$1,686
15 years$3,075$2,632$2,245$1,908$1,616$1,474
16 years$2,853$2,415$2,035$1,708$1,428$1,293
17 years$2,657$2,224$1,852$1,535$1,267$1,138
18 years$2,484$2,055$1,690$1,383$1,126$1,004
19 years$2,328$1,905$1,548$1,250$1,004$888
20 years$2,189$1,770$1,420$1,132$897$787
21 years$2,063$1,649$1,306$1,027$802$699
22 years$1,948$1,539$1,204$934$719$621
23 years$1,844$1,439$1,112$851$646$553
24 years$1,748$1,349$1,028$776$580$493
25 years$1,660$1,266$952$708$522$440
26 years$1,579$1,189$883$648$470$393
27 years$1,505$1,119$820$593$424$351
28 years$1,435$1,055$762$543$383$314
29 years$1,371$995$709$498$346$281
30 years$1,311$940$661$457$312$252
31 years$1,255$888$616$420$282$226
32 years$1,202$841$575$386$255$202
33 years$1,153$796$537$355$231$182
34 years$1,107$754$501$327$209$163
35 years$1,064$716$469$301$189$146
36 years$1,023$679$439$277$172$131
37 years$984$645$411$255$156$118
38 years$948$613$384$235$141$106
39 years$913$583$360$217$128$95
40 years$880$555$338$200$116$85
41 years$849$528$317$184$105$77
42 years$820$503$297$170$96$69
43 years$792$479$279$157$87$62
44 years$765$457$262$145$79$56
45 years$740$435$246$134$71$50
46 years$715$415$231$124$65$45
47 years$692$396$217$114$59$41
48 years$670$378$204$106$53$37
49 years$649$361$191$98$49$33
50 years$629$345$180$90$44$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $644,000, adding $6,697 every year, while hoping to spend $49,369 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: 44/34/22 Blend
55$644,000$644,000$644,000$644,000
56$716,596$682,464$672,482$743,297
57$737,161$663,376$642,482$743,735
58$758,168$641,699$609,822$738,878
59$779,612$617,253$574,362$732,611
60$801,482$589,848$535,953$724,830
61$823,767$559,284$494,441$715,421
62$846,452$525,350$449,665$704,266
63$869,518$487,821$401,457$691,237
64$892,944$446,459$349,642$676,200
65$916,704$401,015$294,034$659,011
66$940,767$351,224$234,444$639,517
67$965,097$296,806$170,669$617,556
68$989,652$237,464$102,502$592,954
69$1,014,385$172,888$29,724$565,527
70$1,039,239$102,747$0$535,080
71$1,064,153$26,693$0$512,657
72$1,089,053$0$0$494,960
73$1,113,858$0$0$495,644
74$1,138,476$0$0$506,181
75$1,162,801$0$0$516,532
76$1,186,716$0$0$526,638
77$1,210,088$0$0$536,434
78$1,232,766$0$0$545,845
79$1,254,584$0$0$554,790
80$1,275,354$0$0$563,174
81$1,294,866$0$0$570,896
82$1,312,885$0$0$577,839
83$1,329,149$0$0$583,874
84$1,343,366$0$0$588,858
85$1,355,211$0$0$592,632
86$1,364,320$0$0$595,018
87$1,370,291$0$0$595,818
88$1,372,676$0$0$594,814
89$1,370,977$0$0$591,760
90$1,364,640$0$0$586,388
91$1,353,052$0$0$578,398
92$1,335,533$0$0$567,456
93$1,311,327$0$0$553,196
94$1,279,599$0$0$535,208
95$1,239,422$0$0$513,042
96$1,189,770$0$0$486,197
97$1,129,507$0$0$454,120
98$1,057,377$0$0$416,198
99$971,988$0$0$371,755
100$871,802$0$0$320,041