Can I retire at age 56 with 649,000?

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 $649,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$53,594$53,116$52,651$52,196$51,752$51,127
2 years$26,532$26,037$25,559$25,094$24,644$24,014
3 years$17,512$17,016$16,538$16,078$15,635$15,021
4 years$13,003$12,508$12,035$11,583$11,151$10,557
5 years$10,299$9,807$9,340$8,897$8,477$7,905
6 years$8,496$8,008$7,548$7,115$6,707$6,159
7 years$7,209$6,725$6,273$5,850$5,455$4,929
8 years$6,244$5,765$5,320$4,907$4,525$4,022
9 years$5,494$5,019$4,582$4,180$3,811$3,331
10 years$4,895$4,424$3,994$3,603$3,247$2,789
11 years$4,404$3,939$3,517$3,136$2,793$2,357
12 years$3,996$3,535$3,121$2,750$2,420$2,005
13 years$3,651$3,195$2,788$2,428$2,110$1,717
14 years$3,355$2,904$2,505$2,156$1,850$1,477
15 years$3,099$2,653$2,262$1,922$1,629$1,275
16 years$2,875$2,434$2,051$1,721$1,440$1,105
17 years$2,678$2,241$1,866$1,547$1,276$960
18 years$2,503$2,071$1,704$1,394$1,135$837
19 years$2,346$1,920$1,560$1,259$1,012$731
20 years$2,206$1,784$1,431$1,141$904$639
21 years$2,079$1,661$1,317$1,035$809$560
22 years$1,963$1,551$1,213$941$725$491
23 years$1,858$1,451$1,120$857$651$431
24 years$1,762$1,359$1,036$782$585$379
25 years$1,673$1,275$960$714$526$334
26 years$1,592$1,199$890$653$474$294
27 years$1,516$1,128$826$598$427$259
28 years$1,446$1,063$768$547$386$228
29 years$1,382$1,003$715$502$348$201
30 years$1,321$947$666$461$315$178
31 years$1,265$895$621$423$284$157
32 years$1,212$847$579$389$257$139
33 years$1,162$802$541$358$233$123
34 years$1,116$760$505$329$211$108
35 years$1,072$721$472$303$191$96
36 years$1,031$685$442$279$173$85
37 years$992$650$414$257$157$75
38 years$955$618$387$237$142$66
39 years$920$588$363$218$129$59
40 years$887$559$340$201$117$52
41 years$856$532$319$186$106$46
42 years$826$507$299$172$96$41
43 years$798$483$281$158$87$36
44 years$771$460$264$146$79$32
45 years$745$439$247$135$72$28
46 years$721$419$232$125$65$25
47 years$698$400$218$115$59$22
48 years$675$381$205$106$54$20
49 years$654$364$193$98$49$17
50 years$634$348$181$91$44$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $649,000, adding $6,675 every year, while hoping to spend $21,407 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: 76/11/13 Blend
55$649,000$649,000$649,000$649,000
56$722,083$687,686$677,627$774,553
57$772,959$698,606$677,550$821,001
58$828,306$709,343$676,754$868,550
59$888,559$719,867$675,191$920,082
60$954,194$730,142$672,812$975,985
61$1,025,737$740,134$669,566$1,036,689
62$1,103,765$749,803$665,399$1,102,665
63$1,188,913$759,108$660,254$1,174,435
64$1,281,883$768,005$654,073$1,252,570
65$1,383,444$776,446$646,794$1,337,704
66$1,494,445$784,382$638,351$1,430,531
67$1,615,819$791,758$628,677$1,531,818
68$1,748,596$798,516$617,700$1,642,412
69$1,893,906$804,597$605,347$1,763,242
70$2,052,997$809,935$591,538$1,895,335
71$2,227,241$814,461$576,194$2,039,823
72$2,418,151$818,101$559,227$2,197,951
73$2,627,392$820,776$540,550$2,371,093
74$2,856,796$822,405$520,069$2,560,762
75$3,108,384$822,897$497,686$2,768,628
76$3,384,380$822,160$473,300$2,996,528
77$3,687,234$820,093$446,803$3,246,489
78$4,019,645$816,591$418,084$3,520,744
79$4,384,586$811,542$387,027$3,821,754
80$4,785,332$804,825$353,510$4,152,232
81$5,225,489$796,315$317,406$4,515,168
82$5,709,033$785,878$278,583$4,913,856
83$6,240,339$773,371$236,901$5,351,929
84$6,824,232$758,645$192,215$5,833,388
85$7,466,025$741,539$144,376$6,362,646
86$8,171,571$721,886$93,223$6,944,563
87$8,947,318$699,506$38,594$7,584,499
88$9,800,373$674,210$0$8,288,359
89$10,738,563$645,798$0$9,065,386
90$11,770,512$614,058$0$9,925,911
91$12,905,724$578,766$0$10,872,507
92$14,154,668$539,686$0$11,913,916
93$15,528,880$496,566$0$13,059,770
94$17,041,070$449,142$0$14,320,684
95$18,705,243$397,134$0$15,708,355
96$20,536,830$340,246$0$17,235,672
97$22,552,835$278,166$0$18,916,839
98$24,771,991$210,563$0$20,767,509
99$27,214,942$137,089$0$22,804,931
100$29,904,435$57,375$0$25,048,113