Can I retire at age 56 with 645,000?

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 $645,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$53,263$52,789$52,326$51,874$51,433$50,498
2 years$26,368$25,877$25,401$24,940$24,492$23,553
3 years$17,404$16,911$16,436$15,979$15,539$14,626
4 years$12,923$12,431$11,961$11,512$11,082$10,202
5 years$10,235$9,746$9,282$8,842$8,425$7,579
6 years$8,444$7,959$7,502$7,071$6,666$5,857
7 years$7,165$6,684$6,234$5,814$5,421$4,648
8 years$6,206$5,729$5,287$4,877$4,498$3,761
9 years$5,460$4,988$4,554$4,154$3,788$3,086
10 years$4,864$4,397$3,970$3,581$3,227$2,561
11 years$4,377$3,914$3,495$3,116$2,775$2,144
12 years$3,971$3,513$3,102$2,734$2,405$1,807
13 years$3,628$3,175$2,771$2,413$2,097$1,531
14 years$3,334$2,886$2,490$2,142$1,839$1,304
15 years$3,080$2,636$2,248$1,911$1,619$1,115
16 years$2,858$2,419$2,038$1,711$1,431$956
17 years$2,662$2,228$1,855$1,537$1,269$822
18 years$2,488$2,058$1,693$1,385$1,128$709
19 years$2,332$1,908$1,550$1,252$1,005$612
20 years$2,192$1,773$1,422$1,134$898$529
21 years$2,066$1,651$1,308$1,029$804$458
22 years$1,951$1,541$1,206$935$720$398
23 years$1,847$1,442$1,113$852$647$345
24 years$1,751$1,351$1,030$777$581$300
25 years$1,663$1,268$954$710$523$261
26 years$1,582$1,191$885$649$471$227
27 years$1,507$1,121$821$594$425$198
28 years$1,438$1,056$764$544$383$172
29 years$1,373$997$711$499$346$150
30 years$1,313$941$662$458$313$131
31 years$1,257$890$617$421$283$114
32 years$1,204$842$576$387$256$100
33 years$1,155$797$538$355$231$87
34 years$1,109$756$502$327$210$76
35 years$1,065$717$470$301$190$66
36 years$1,024$680$439$277$172$58
37 years$986$646$411$255$156$50
38 years$949$614$385$235$141$44
39 years$915$584$361$217$128$38
40 years$882$556$338$200$116$34
41 years$851$529$317$185$105$29
42 years$821$504$297$171$96$26
43 years$793$480$279$157$87$22
44 years$766$457$262$145$79$20
45 years$741$436$246$134$72$17
46 years$717$416$231$124$65$15
47 years$693$397$217$115$59$13
48 years$671$379$204$106$54$11
49 years$650$362$192$98$49$10
50 years$630$346$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 $645,000, adding $3,488 every year, while hoping to spend $24,457 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: 29/49/22 Blend
55$645,000$645,000$645,000$645,000
56$714,388$680,203$670,205$730,100
57$761,233$687,511$666,635$749,822
58$812,037$694,357$662,126$768,601
59$867,178$700,693$656,620$788,280
60$927,071$706,468$650,057$808,949
61$992,173$711,626$642,375$830,714
62$1,062,988$716,108$633,507$853,689
63$1,140,068$719,853$623,386$878,005
64$1,224,023$722,795$611,938$903,804
65$1,315,524$724,862$599,088$931,249
66$1,415,307$725,979$584,757$960,518
67$1,524,184$726,068$568,862$991,810
68$1,643,049$725,044$551,317$1,025,349
69$1,772,885$722,816$532,031$1,061,383
70$1,914,775$719,290$510,910$1,100,186
71$2,069,911$714,364$487,855$1,142,065
72$2,239,606$707,932$462,762$1,187,362
73$2,425,305$699,879$435,523$1,236,454
74$2,628,598$690,086$406,025$1,289,764
75$2,851,238$678,423$374,150$1,347,758
76$3,095,155$664,757$339,775$1,410,956
77$3,362,475$648,943$302,771$1,479,934
78$3,655,536$630,830$263,003$1,555,331
79$3,976,918$610,258$220,330$1,637,857
80$4,329,458$587,056$174,606$1,728,298
81$4,716,286$561,044$125,678$1,827,527
82$5,140,844$532,032$73,385$1,936,511
83$5,606,927$499,819$17,560$2,056,319
84$6,118,714$464,191$0$2,188,140
85$6,680,811$424,923$0$2,343,149
86$7,298,287$381,779$0$2,517,980
87$7,976,732$334,505$0$2,710,163
88$8,722,299$282,836$0$2,921,527
89$9,541,770$226,492$0$3,154,096
90$10,442,616$165,175$0$3,410,103
91$11,433,067$98,573$0$3,692,017
92$12,522,191$26,355$0$4,002,567
93$13,719,979$0$0$4,344,765
94$15,037,438$0$0$4,749,884
95$16,486,695$0$0$5,211,281
96$18,081,113$0$0$5,719,012
97$19,835,414$0$0$6,277,782
98$21,765,819$0$0$6,892,773
99$23,890,202$0$0$7,569,694
100$26,228,257$0$0$8,314,838