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%12.5%
1 years$53,594$53,116$52,651$52,196$51,752$51,212
2 years$26,532$26,037$25,559$25,094$24,644$24,100
3 years$17,512$17,016$16,538$16,078$15,635$15,104
4 years$13,003$12,508$12,035$11,583$11,151$10,637
5 years$10,299$9,807$9,340$8,897$8,477$7,982
6 years$8,496$8,008$7,548$7,115$6,707$6,231
7 years$7,209$6,725$6,273$5,850$5,455$4,998
8 years$6,244$5,765$5,320$4,907$4,525$4,088
9 years$5,494$5,019$4,582$4,180$3,811$3,393
10 years$4,895$4,424$3,994$3,603$3,247$2,848
11 years$4,404$3,939$3,517$3,136$2,793$2,413
12 years$3,996$3,535$3,121$2,750$2,420$2,058
13 years$3,651$3,195$2,788$2,428$2,110$1,767
14 years$3,355$2,904$2,505$2,156$1,850$1,524
15 years$3,099$2,653$2,262$1,922$1,629$1,319
16 years$2,875$2,434$2,051$1,721$1,440$1,147
17 years$2,678$2,241$1,866$1,547$1,276$999
18 years$2,503$2,071$1,704$1,394$1,135$873
19 years$2,346$1,920$1,560$1,259$1,012$764
20 years$2,206$1,784$1,431$1,141$904$671
21 years$2,079$1,661$1,317$1,035$809$589
22 years$1,963$1,551$1,213$941$725$518
23 years$1,858$1,451$1,120$857$651$457
24 years$1,762$1,359$1,036$782$585$403
25 years$1,673$1,275$960$714$526$356
26 years$1,592$1,199$890$653$474$314
27 years$1,516$1,128$826$598$427$278
28 years$1,446$1,063$768$547$386$246
29 years$1,382$1,003$715$502$348$217
30 years$1,321$947$666$461$315$193
31 years$1,265$895$621$423$284$171
32 years$1,212$847$579$389$257$151
33 years$1,162$802$541$358$233$134
34 years$1,116$760$505$329$211$119
35 years$1,072$721$472$303$191$105
36 years$1,031$685$442$279$173$94
37 years$992$650$414$257$157$83
38 years$955$618$387$237$142$74
39 years$920$588$363$218$129$65
40 years$887$559$340$201$117$58
41 years$856$532$319$186$106$52
42 years$826$507$299$172$96$46
43 years$798$483$281$158$87$41
44 years$771$460$264$146$79$36
45 years$745$439$247$135$72$32
46 years$721$419$232$125$65$29
47 years$698$400$218$115$59$25
48 years$675$381$205$106$54$23
49 years$654$364$193$98$49$20
50 years$634$348$181$91$44$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $649,000, adding $6,796 every year, while hoping to spend $40,300 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: 47/32/21 Blend
55$649,000$649,000$649,000$649,000
56$722,208$687,811$677,752$751,545
57$752,994$678,635$657,577$763,557
58$785,570$667,658$635,377$772,022
59$820,076$654,751$611,039$780,377
60$856,663$639,774$584,449$788,630
61$895,501$622,580$555,486$796,793
62$936,770$603,015$524,023$804,880
63$980,672$580,915$489,929$812,912
64$1,027,425$556,104$453,066$820,913
65$1,077,269$528,399$413,290$828,915
66$1,130,466$497,606$370,450$836,956
67$1,187,303$463,518$324,390$845,081
68$1,248,096$425,918$274,945$853,345
69$1,313,189$384,576$221,944$861,813
70$1,382,963$339,249$165,207$870,561
71$1,457,832$289,679$104,548$879,677
72$1,538,253$235,595$39,773$889,263
73$1,624,725$176,710$0$899,440
74$1,717,800$112,722$0$916,922
75$1,818,080$43,309$0$945,225
76$1,926,228$0$0$975,659
77$2,042,972$0$0$1,019,702
78$2,169,112$0$0$1,083,824
79$2,305,528$0$0$1,153,230
80$2,453,186$0$0$1,228,420
81$2,613,149$0$0$1,309,943
82$2,786,585$0$0$1,398,402
83$2,974,779$0$0$1,494,461
84$3,179,143$0$0$1,598,851
85$3,401,232$0$0$1,712,375
86$3,642,755$0$0$1,835,918
87$3,905,593$0$0$1,970,452
88$4,191,816$0$0$2,117,047
89$4,503,701$0$0$2,276,882
90$4,843,755$0$0$2,451,253
91$5,214,735$0$0$2,641,586
92$5,619,678$0$0$2,849,454
93$6,061,926$0$0$3,076,584
94$6,545,158$0$0$3,324,880
95$7,073,424$0$0$3,596,439
96$7,651,185$0$0$3,893,569
97$8,283,349$0$0$4,218,810
98$8,975,325$0$0$4,574,960
99$9,733,065$0$0$4,965,102
100$10,563,125$0$0$5,392,628