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%16.8%
1 years$53,511$53,035$52,570$52,116$51,672$50,240
2 years$26,491$25,997$25,519$25,056$24,606$23,173
3 years$17,485$16,990$16,513$16,053$15,611$14,223
4 years$12,983$12,489$12,017$11,566$11,134$9,802
5 years$10,283$9,792$9,326$8,883$8,464$7,191
6 years$8,483$7,996$7,537$7,104$6,697$5,484
7 years$7,198$6,715$6,263$5,841$5,447$4,294
8 years$6,235$5,756$5,311$4,900$4,518$3,426
9 years$5,486$5,011$4,575$4,173$3,805$2,771
10 years$4,887$4,417$3,988$3,598$3,242$2,266
11 years$4,397$3,932$3,511$3,131$2,788$1,868
12 years$3,990$3,530$3,116$2,746$2,416$1,550
13 years$3,645$3,190$2,784$2,425$2,107$1,293
14 years$3,350$2,899$2,502$2,152$1,847$1,083
15 years$3,094$2,649$2,259$1,919$1,626$910
16 years$2,871$2,430$2,048$1,719$1,437$767
17 years$2,674$2,238$1,863$1,544$1,274$649
18 years$2,499$2,068$1,701$1,392$1,133$549
19 years$2,343$1,917$1,557$1,257$1,010$466
20 years$2,202$1,781$1,429$1,139$902$396
21 years$2,075$1,659$1,314$1,034$807$337
22 years$1,960$1,549$1,211$940$724$286
23 years$1,855$1,448$1,119$856$650$244
24 years$1,759$1,357$1,035$781$584$208
25 years$1,671$1,273$958$713$525$178
26 years$1,589$1,197$889$652$473$152
27 years$1,514$1,126$825$597$427$129
28 years$1,444$1,061$767$547$385$111
29 years$1,379$1,001$714$501$348$94
30 years$1,319$946$665$460$314$81
31 years$1,263$894$620$423$284$69
32 years$1,210$846$578$388$257$59
33 years$1,160$801$540$357$232$51
34 years$1,114$759$505$329$210$43
35 years$1,070$720$472$302$191$37
36 years$1,029$683$441$279$173$32
37 years$990$649$413$257$157$27
38 years$954$617$387$237$142$23
39 years$919$587$362$218$129$20
40 years$886$558$340$201$117$17
41 years$855$531$319$186$106$15
42 years$825$506$299$171$96$12
43 years$797$482$280$158$87$11
44 years$770$460$263$146$79$9
45 years$744$438$247$135$72$8
46 years$720$418$232$125$65$7
47 years$697$399$218$115$59$6
48 years$674$381$205$106$54$5
49 years$653$364$193$98$49$4
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 $6,962 every year, while hoping to spend $25,531 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: 68/20/12 Blend
55$648,000$648,000$648,000$648,000
56$721,277$686,933$676,889$767,965
57$767,683$693,428$672,400$806,403
58$817,966$699,386$666,905$844,722
59$872,495$704,753$660,343$885,970
60$931,676$709,472$652,651$930,430
61$995,955$713,483$643,763$978,415
62$1,065,821$716,723$633,607$1,030,270
63$1,141,814$719,121$622,112$1,086,377
64$1,224,527$720,607$609,202$1,147,156
65$1,314,615$721,102$594,796$1,213,069
66$1,412,794$720,525$578,810$1,284,629
67$1,519,857$718,788$561,158$1,362,398
68$1,636,673$715,800$541,747$1,446,998
69$1,764,201$711,461$520,483$1,539,115
70$1,903,495$705,669$497,265$1,639,505
71$2,055,717$698,311$471,989$1,749,002
72$2,222,144$689,273$444,544$1,868,526
73$2,404,184$678,429$414,818$1,999,091
74$2,603,387$665,648$382,691$2,141,817
75$2,821,459$650,791$348,037$2,297,937
76$3,060,279$633,711$310,727$2,468,813
77$3,321,916$614,251$270,625$2,655,945
78$3,608,648$592,247$227,588$2,860,989
79$3,922,986$567,523$181,469$3,085,772
80$4,267,694$539,895$132,111$3,332,305
81$4,645,816$509,166$79,354$3,602,810
82$5,060,705$475,131$23,028$3,899,734
83$5,516,054$437,570$0$4,225,779
84$6,015,933$396,252$0$4,588,670
85$6,564,822$350,932$0$4,990,397
86$7,167,659$301,353$0$5,431,654
87$7,829,882$247,241$0$5,916,458
88$8,557,482$188,308$0$6,449,240
89$9,357,059$124,249$0$7,034,880
90$10,235,884$54,742$0$7,678,760
91$11,201,968$0$0$8,386,811
92$12,264,137$0$0$9,170,094
93$13,432,113$0$0$10,044,694
94$14,716,609$0$0$11,006,589
95$16,129,429$0$0$12,064,623
96$17,683,575$0$0$13,228,542
97$19,393,376$0$0$14,509,079
98$21,274,618$0$0$15,918,065
99$23,344,695$0$0$17,468,533
100$25,622,771$0$0$19,174,843