Can I retire at age 56 with 648,000?

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 $648,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$53,511$53,035$52,570$52,116$51,672$50,321
2 years$26,491$25,997$25,519$25,056$24,606$23,254
3 years$17,485$16,990$16,513$16,053$15,611$14,300
4 years$12,983$12,489$12,017$11,566$11,134$9,875
5 years$10,283$9,792$9,326$8,883$8,464$7,260
6 years$8,483$7,996$7,537$7,104$6,697$5,549
7 years$7,198$6,715$6,263$5,841$5,447$4,355
8 years$6,235$5,756$5,311$4,900$4,518$3,482
9 years$5,486$5,011$4,575$4,173$3,805$2,824
10 years$4,887$4,417$3,988$3,598$3,242$2,314
11 years$4,397$3,932$3,511$3,131$2,788$1,913
12 years$3,990$3,530$3,116$2,746$2,416$1,591
13 years$3,645$3,190$2,784$2,425$2,107$1,331
14 years$3,350$2,899$2,502$2,152$1,847$1,118
15 years$3,094$2,649$2,259$1,919$1,626$942
16 years$2,871$2,430$2,048$1,719$1,437$797
17 years$2,674$2,238$1,863$1,544$1,274$675
18 years$2,499$2,068$1,701$1,392$1,133$574
19 years$2,343$1,917$1,557$1,257$1,010$488
20 years$2,202$1,781$1,429$1,139$902$416
21 years$2,075$1,659$1,314$1,034$807$355
22 years$1,960$1,549$1,211$940$724$303
23 years$1,855$1,448$1,119$856$650$259
24 years$1,759$1,357$1,035$781$584$221
25 years$1,671$1,273$958$713$525$190
26 years$1,589$1,197$889$652$473$162
27 years$1,514$1,126$825$597$427$139
28 years$1,444$1,061$767$547$385$119
29 years$1,379$1,001$714$501$348$102
30 years$1,319$946$665$460$314$88
31 years$1,263$894$620$423$284$75
32 years$1,210$846$578$388$257$64
33 years$1,160$801$540$357$232$55
34 years$1,114$759$505$329$210$47
35 years$1,070$720$472$302$191$41
36 years$1,029$683$441$279$173$35
37 years$990$649$413$257$157$30
38 years$954$617$387$237$142$26
39 years$919$587$362$218$129$22
40 years$886$558$340$201$117$19
41 years$855$531$319$186$106$16
42 years$825$506$299$171$96$14
43 years$797$482$280$158$87$12
44 years$770$460$263$146$79$10
45 years$744$438$247$135$72$9
46 years$720$418$232$125$65$8
47 years$697$399$218$115$59$7
48 years$674$381$205$106$54$6
49 years$653$364$193$98$49$5
50 years$633$347$181$91$44$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $648,000, adding $3,434 every year, while hoping to spend $50,128 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: 45/37/18 Blend
55$648,000$648,000$648,000$648,000
56$717,638$683,294$673,250$746,080
57$737,501$663,440$642,468$746,483
58$757,711$640,932$608,975$741,656
59$778,248$615,589$572,627$735,364
60$799,093$587,217$533,273$727,493
61$820,220$555,610$490,758$717,922
62$841,600$520,552$444,916$706,523
63$863,199$481,815$395,576$693,158
64$884,978$439,156$342,560$677,679
65$906,890$392,320$285,680$659,932
66$928,884$341,035$224,742$639,748
67$950,901$285,016$159,541$616,950
68$972,872$223,961$89,865$591,347
69$994,722$157,551$15,492$562,736
70$1,016,362$85,450$0$530,901
71$1,037,695$7,301$0$507,878
72$1,058,611$0$0$485,125
73$1,078,985$0$0$490,907
74$1,098,677$0$0$499,281
75$1,117,532$0$0$507,196
76$1,135,373$0$0$514,564
77$1,152,006$0$0$521,285
78$1,167,211$0$0$527,251
79$1,180,745$0$0$532,338
80$1,192,335$0$0$536,410
81$1,201,679$0$0$539,315
82$1,208,439$0$0$540,885
83$1,212,241$0$0$540,931
84$1,212,668$0$0$539,246
85$1,209,256$0$0$535,597
86$1,201,493$0$0$529,729
87$1,188,809$0$0$521,357
88$1,170,570$0$0$510,165
89$1,146,077$0$0$495,804
90$1,114,553$0$0$477,886
91$1,075,138$0$0$455,984
92$1,026,881$0$0$429,622
93$968,726$0$0$398,275
94$899,509$0$0$361,364
95$817,938$0$0$318,245
96$722,588$0$0$268,208
97$611,881$0$0$210,470
98$484,072$0$0$144,161
99$337,235$0$0$68,324
100$169,239$0$0$0