Can I retire at age 56 with 646,000?

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 $646,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$53,346$52,871$52,407$51,955$51,513$50,473
2 years$26,409$25,917$25,440$24,978$24,530$23,487
3 years$17,431$16,937$16,462$16,004$15,563$14,549
4 years$12,943$12,451$11,980$11,530$11,100$10,123
5 years$10,251$9,761$9,297$8,856$8,438$7,501
6 years$8,457$7,971$7,513$7,082$6,676$5,780
7 years$7,176$6,694$6,244$5,823$5,430$4,575
8 years$6,215$5,738$5,295$4,885$4,504$3,690
9 years$5,469$4,996$4,561$4,161$3,793$3,020
10 years$4,872$4,404$3,976$3,586$3,232$2,498
11 years$4,384$3,920$3,500$3,121$2,780$2,084
12 years$3,977$3,519$3,107$2,738$2,409$1,751
13 years$3,634$3,180$2,775$2,417$2,101$1,479
14 years$3,340$2,890$2,494$2,146$1,841$1,255
15 years$3,085$2,640$2,252$1,913$1,621$1,070
16 years$2,862$2,423$2,041$1,713$1,433$914
17 years$2,666$2,231$1,858$1,539$1,271$783
18 years$2,491$2,062$1,696$1,387$1,130$672
19 years$2,336$1,911$1,552$1,254$1,007$579
20 years$2,196$1,775$1,425$1,135$899$499
21 years$2,069$1,654$1,310$1,030$805$430
22 years$1,954$1,544$1,208$937$721$372
23 years$1,849$1,444$1,115$853$648$321
24 years$1,754$1,353$1,031$778$582$278
25 years$1,665$1,270$955$711$524$241
26 years$1,584$1,193$886$650$472$209
27 years$1,509$1,123$823$595$425$181
28 years$1,440$1,058$765$545$384$157
29 years$1,375$998$712$500$347$136
30 years$1,315$943$663$459$313$118
31 years$1,259$891$618$421$283$103
32 years$1,206$843$577$387$256$89
33 years$1,157$799$538$356$232$78
34 years$1,111$757$503$328$210$67
35 years$1,067$718$470$302$190$59
36 years$1,026$681$440$278$172$51
37 years$987$647$412$256$156$44
38 years$951$615$386$236$142$39
39 years$916$585$361$217$128$34
40 years$883$556$339$201$116$29
41 years$852$530$318$185$106$25
42 years$822$504$298$171$96$22
43 years$794$481$279$158$87$19
44 years$768$458$262$146$79$17
45 years$742$437$246$134$72$15
46 years$718$417$231$124$65$13
47 years$694$398$217$115$59$11
48 years$672$380$204$106$54$10
49 years$651$363$192$98$49$8
50 years$631$346$181$91$44$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $646,000, adding $2,370 every year, while hoping to spend $41,687 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: 71/10/19 Blend
55$646,000$646,000$646,000$646,000
56$714,337$680,099$670,086$761,630
57$742,844$669,069$648,179$782,393
58$772,863$656,101$624,141$799,916
59$804,502$641,057$597,857$818,053
60$837,881$623,790$569,205$836,856
61$873,132$604,142$538,061$856,389
62$910,397$581,951$504,291$876,719
63$949,831$557,040$467,759$897,923
64$991,605$529,226$428,319$920,086
65$1,035,903$498,313$385,823$943,304
66$1,082,930$464,094$340,112$967,683
67$1,132,906$426,352$291,023$993,341
68$1,186,074$384,856$238,385$1,020,411
69$1,242,701$339,360$182,018$1,049,040
70$1,303,076$289,609$121,735$1,079,392
71$1,367,519$235,328$57,342$1,111,650
72$1,436,377$176,231$0$1,146,016
73$1,510,035$112,014$0$1,185,023
74$1,588,911$42,355$0$1,239,171
75$1,673,465$0$0$1,297,147
76$1,764,201$0$0$1,362,950
77$1,861,675$0$0$1,438,667
78$1,966,492$0$0$1,520,113
79$2,079,321$0$0$1,607,809
80$2,200,895$0$0$1,702,330
81$2,332,018$0$0$1,804,302
82$2,473,574$0$0$1,914,419
83$2,626,535$0$0$2,033,438
84$2,791,969$0$0$2,162,196
85$2,971,049$0$0$2,301,610
86$3,165,066$0$0$2,452,688
87$3,375,438$0$0$2,616,540
88$3,603,725$0$0$2,794,386
89$3,851,644$0$0$2,987,567
90$4,121,080$0$0$3,197,560
91$4,414,112$0$0$3,425,987
92$4,733,022$0$0$3,674,636
93$5,080,323$0$0$3,945,472
94$5,458,783$0$0$4,240,658
95$5,871,443$0$0$4,562,574
96$6,321,655$0$0$4,913,841
97$6,813,105$0$0$5,297,342
98$7,349,853$0$0$5,716,253
99$7,936,365$0$0$6,174,068
100$8,577,562$0$0$6,674,635