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%17.8%
1 years$53,263$52,789$52,326$51,874$51,433$49,807
2 years$26,368$25,877$25,401$24,940$24,492$22,868
3 years$17,404$16,911$16,436$15,979$15,539$13,968
4 years$12,923$12,431$11,961$11,512$11,082$9,578
5 years$10,235$9,746$9,282$8,842$8,425$6,989
6 years$8,444$7,959$7,502$7,071$6,666$5,302
7 years$7,165$6,684$6,234$5,814$5,421$4,128
8 years$6,206$5,729$5,287$4,877$4,498$3,274
9 years$5,460$4,988$4,554$4,154$3,788$2,632
10 years$4,864$4,397$3,970$3,581$3,227$2,138
11 years$4,377$3,914$3,495$3,116$2,775$1,751
12 years$3,971$3,513$3,102$2,734$2,405$1,444
13 years$3,628$3,175$2,771$2,413$2,097$1,196
14 years$3,334$2,886$2,490$2,142$1,839$995
15 years$3,080$2,636$2,248$1,911$1,619$831
16 years$2,858$2,419$2,038$1,711$1,431$695
17 years$2,662$2,228$1,855$1,537$1,269$583
18 years$2,488$2,058$1,693$1,385$1,128$490
19 years$2,332$1,908$1,550$1,252$1,005$413
20 years$2,192$1,773$1,422$1,134$898$348
21 years$2,066$1,651$1,308$1,029$804$294
22 years$1,951$1,541$1,206$935$720$248
23 years$1,847$1,442$1,113$852$647$210
24 years$1,751$1,351$1,030$777$581$177
25 years$1,663$1,268$954$710$523$150
26 years$1,582$1,191$885$649$471$127
27 years$1,507$1,121$821$594$425$108
28 years$1,438$1,056$764$544$383$91
29 years$1,373$997$711$499$346$77
30 years$1,313$941$662$458$313$66
31 years$1,257$890$617$421$283$56
32 years$1,204$842$576$387$256$47
33 years$1,155$797$538$355$231$40
34 years$1,109$756$502$327$210$34
35 years$1,065$717$470$301$190$29
36 years$1,024$680$439$277$172$24
37 years$986$646$411$255$156$21
38 years$949$614$385$235$141$18
39 years$915$584$361$217$128$15
40 years$882$556$338$200$116$13
41 years$851$529$317$185$105$11
42 years$821$504$297$171$96$9
43 years$793$480$279$157$87$8
44 years$766$457$262$145$79$7
45 years$741$436$246$134$72$6
46 years$717$416$231$124$65$5
47 years$693$397$217$115$59$4
48 years$671$379$204$106$54$3
49 years$650$362$192$98$49$3
50 years$630$346$180$90$44$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $645,000, adding $5,005 every year, while hoping to spend $38,579 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: 59/20/21 Blend
55$645,000$645,000$645,000$645,000
56$715,953$681,768$671,770$753,933
57$747,932$674,127$653,227$772,657
58$781,880$664,818$632,769$788,436
59$817,958$653,720$610,292$804,788
60$856,339$640,702$585,687$821,778
61$897,216$625,627$558,838$839,475
62$940,799$608,349$529,626$857,960
63$987,318$588,715$497,925$877,322
64$1,037,024$566,562$463,606$897,663
65$1,090,193$541,716$426,529$919,097
66$1,147,129$513,996$386,554$941,752
67$1,208,163$483,209$343,530$965,769
68$1,273,659$449,150$297,302$991,310
69$1,344,017$411,603$247,706$1,018,555
70$1,419,675$370,340$194,573$1,047,702
71$1,501,116$325,120$137,725$1,078,977
72$1,588,867$275,689$76,976$1,112,629
73$1,683,510$221,776$12,134$1,148,939
74$1,785,683$163,098$0$1,188,217
75$1,896,087$99,354$0$1,243,598
76$2,015,492$30,227$0$1,306,414
77$2,144,746$0$0$1,374,423
78$2,284,780$0$0$1,457,977
79$2,436,617$0$0$1,555,831
80$2,601,383$0$0$1,662,063
81$2,780,317$0$0$1,777,479
82$2,974,780$0$0$1,902,963
83$3,186,271$0$0$2,039,488
84$3,416,437$0$0$2,188,125
85$3,667,094$0$0$2,350,052
86$3,940,236$0$0$2,526,565
87$4,238,061$0$0$2,719,093
88$4,562,984$0$0$2,929,205
89$4,917,669$0$0$3,158,631
90$5,305,043$0$0$3,409,273
91$5,728,330$0$0$3,683,228
92$6,191,082$0$0$3,982,801
93$6,697,206$0$0$4,310,533
94$7,251,005$0$0$4,669,221
95$7,857,218$0$0$5,061,944
96$8,521,064$0$0$5,492,093
97$9,248,287$0$0$5,963,403
98$10,045,217$0$0$6,479,987
99$10,918,822$0$0$7,046,375
100$11,876,778$0$0$7,667,554