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%11.6%
1 years$53,263$52,789$52,326$51,874$51,433$51,088
2 years$26,368$25,877$25,401$24,940$24,492$24,144
3 years$17,404$16,911$16,436$15,979$15,539$15,198
4 years$12,923$12,431$11,961$11,512$11,082$10,752
5 years$10,235$9,746$9,282$8,842$8,425$8,106
6 years$8,444$7,959$7,502$7,071$6,666$6,359
7 years$7,165$6,684$6,234$5,814$5,421$5,126
8 years$6,206$5,729$5,287$4,877$4,498$4,215
9 years$5,460$4,988$4,554$4,154$3,788$3,517
10 years$4,864$4,397$3,970$3,581$3,227$2,968
11 years$4,377$3,914$3,495$3,116$2,775$2,528
12 years$3,971$3,513$3,102$2,734$2,405$2,169
13 years$3,628$3,175$2,771$2,413$2,097$1,872
14 years$3,334$2,886$2,490$2,142$1,839$1,624
15 years$3,080$2,636$2,248$1,911$1,619$1,415
16 years$2,858$2,419$2,038$1,711$1,431$1,237
17 years$2,662$2,228$1,855$1,537$1,269$1,085
18 years$2,488$2,058$1,693$1,385$1,128$954
19 years$2,332$1,908$1,550$1,252$1,005$841
20 years$2,192$1,773$1,422$1,134$898$743
21 years$2,066$1,651$1,308$1,029$804$657
22 years$1,951$1,541$1,206$935$720$582
23 years$1,847$1,442$1,113$852$647$516
24 years$1,751$1,351$1,030$777$581$458
25 years$1,663$1,268$954$710$523$407
26 years$1,582$1,191$885$649$471$362
27 years$1,507$1,121$821$594$425$323
28 years$1,438$1,056$764$544$383$288
29 years$1,373$997$711$499$346$256
30 years$1,313$941$662$458$313$229
31 years$1,257$890$617$421$283$204
32 years$1,204$842$576$387$256$182
33 years$1,155$797$538$355$231$163
34 years$1,109$756$502$327$210$145
35 years$1,065$717$470$301$190$130
36 years$1,024$680$439$277$172$116
37 years$986$646$411$255$156$104
38 years$949$614$385$235$141$93
39 years$915$584$361$217$128$83
40 years$882$556$338$200$116$74
41 years$851$529$317$185$105$67
42 years$821$504$297$171$96$60
43 years$793$480$279$157$87$53
44 years$766$457$262$145$79$48
45 years$741$436$246$134$72$43
46 years$717$416$231$124$65$38
47 years$693$397$217$115$59$34
48 years$671$379$204$106$54$31
49 years$650$362$192$98$49$27
50 years$630$346$180$90$44$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $645,000, adding $5,551 every year, while hoping to spend $48,605 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: 76/9/15 Blend
55$645,000$645,000$645,000$645,000
56$716,516$682,331$672,333$768,246
57$737,885$664,050$643,141$784,886
58$759,805$643,244$611,342$796,492
59$782,280$619,738$576,797$807,888
60$805,315$593,347$539,362$819,035
61$828,911$563,875$498,885$829,896
62$853,070$531,115$455,207$840,426
63$877,791$494,847$408,164$850,578
64$903,071$454,840$357,583$860,303
65$928,906$410,849$303,284$869,545
66$955,288$362,614$245,077$878,245
67$982,207$309,862$182,768$886,338
68$1,009,651$252,304$116,149$893,754
69$1,037,603$189,635$45,007$900,418
70$1,066,042$121,531$0$906,248
71$1,094,944$47,651$0$916,102
72$1,124,280$0$0$932,946
73$1,154,013$0$0$952,708
74$1,184,104$0$0$977,475
75$1,214,504$0$0$1,002,487
76$1,245,158$0$0$1,027,697
77$1,276,002$0$0$1,053,053
78$1,306,963$0$0$1,078,491
79$1,337,957$0$0$1,103,942
80$1,368,890$0$0$1,129,325
81$1,399,654$0$0$1,154,550
82$1,430,126$0$0$1,179,514
83$1,460,169$0$0$1,204,101
84$1,489,629$0$0$1,228,181
85$1,518,329$0$0$1,251,607
86$1,546,075$0$0$1,274,213
87$1,572,646$0$0$1,295,817
88$1,597,797$0$0$1,316,210
89$1,621,253$0$0$1,335,162
90$1,642,706$0$0$1,352,416
91$1,661,815$0$0$1,367,683
92$1,678,196$0$0$1,380,643
93$1,691,425$0$0$1,390,939
94$1,701,028$0$0$1,398,173
95$1,706,478$0$0$1,401,904
96$1,707,190$0$0$1,401,640
97$1,702,515$0$0$1,396,838
98$1,691,730$0$0$1,386,890
99$1,674,036$0$0$1,371,126
100$1,648,543$0$0$1,348,802