Can I retire at age 56 with 650,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $650,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$53,676$53,198$52,732$52,276$51,832$50,093
2 years$26,572$26,078$25,598$25,133$24,682$22,947
3 years$17,539$17,042$16,564$16,103$15,659$13,983
4 years$13,023$12,528$12,054$11,601$11,168$9,563
5 years$10,314$9,822$9,354$8,911$8,490$6,961
6 years$8,509$8,020$7,560$7,126$6,718$5,265
7 years$7,220$6,735$6,282$5,859$5,463$4,088
8 years$6,254$5,773$5,328$4,915$4,532$3,232
9 years$5,503$5,027$4,589$4,186$3,817$2,591
10 years$4,902$4,431$4,001$3,609$3,252$2,098
11 years$4,411$3,945$3,522$3,141$2,797$1,713
12 years$4,002$3,540$3,126$2,755$2,424$1,407
13 years$3,656$3,200$2,793$2,432$2,114$1,162
14 years$3,360$2,908$2,509$2,159$1,853$963
15 years$3,104$2,657$2,266$1,925$1,631$801
16 years$2,880$2,438$2,054$1,724$1,442$668
17 years$2,682$2,245$1,869$1,549$1,278$559
18 years$2,507$2,074$1,706$1,396$1,137$468
19 years$2,350$1,923$1,562$1,261$1,013$392
20 years$2,209$1,786$1,433$1,142$905$330
21 years$2,082$1,664$1,319$1,037$810$277
22 years$1,966$1,553$1,215$943$726$233
23 years$1,861$1,453$1,122$858$652$196
24 years$1,764$1,361$1,038$783$586$165
25 years$1,676$1,277$961$715$527$139
26 years$1,594$1,201$891$654$475$118
27 years$1,519$1,130$828$598$428$99
28 years$1,449$1,065$769$548$386$84
29 years$1,384$1,004$716$503$349$71
30 years$1,323$949$667$461$315$60
31 years$1,267$897$622$424$285$50
32 years$1,214$848$580$390$258$43
33 years$1,164$803$542$358$233$36
34 years$1,117$762$506$330$211$30
35 years$1,074$722$473$303$191$26
36 years$1,032$686$443$279$173$22
37 years$993$651$414$257$157$18
38 years$957$619$388$237$142$15
39 years$922$588$364$219$129$13
40 years$889$560$341$202$117$11
41 years$857$533$319$186$106$9
42 years$828$508$300$172$96$8
43 years$799$484$281$159$87$7
44 years$772$461$264$146$79$6
45 years$747$440$248$135$72$5
46 years$722$419$233$125$65$4
47 years$699$400$219$115$59$3
48 years$676$382$206$107$54$3
49 years$655$365$193$99$49$2
50 years$635$348$182$91$45$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $650,000, adding $5,222 every year, while hoping to spend $33,443 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: 64/23/13 Blend
55$650,000$650,000$650,000$650,000
56$721,686$687,236$677,161$765,345
57$759,715$685,328$664,263$793,287
58$800,502$682,205$649,812$819,449
59$844,294$677,773$633,721$847,196
60$891,359$671,931$615,898$876,683
61$941,994$664,573$596,247$908,079
62$996,526$655,585$574,670$941,574
63$1,055,311$644,848$551,061$977,378
64$1,118,742$632,235$525,310$1,015,721
65$1,187,250$617,611$497,305$1,056,860
66$1,261,310$600,834$466,925$1,101,079
67$1,341,442$581,753$434,045$1,148,693
68$1,428,219$560,209$398,535$1,200,050
69$1,522,270$536,032$360,259$1,255,535
70$1,624,289$509,045$319,075$1,315,574
71$1,735,036$479,058$274,834$1,380,638
72$1,855,349$445,871$227,380$1,451,249
73$1,986,149$409,273$176,552$1,527,986
74$2,128,450$369,041$122,180$1,611,484
75$2,283,366$324,938$64,087$1,702,452
76$2,452,125$276,716$2,089$1,801,668
77$2,636,076$224,110$0$1,909,996
78$2,836,707$166,842$0$2,037,279
79$3,055,652$104,618$0$2,176,569
80$3,294,712$37,128$0$2,328,771
81$3,555,868$0$0$2,495,204
82$3,841,303$0$0$2,686,423
83$4,153,419$0$0$2,905,835
84$4,494,860$0$0$3,145,907
85$4,868,538$0$0$3,408,691
86$5,277,661$0$0$3,696,450
87$5,725,759$0$0$4,011,672
88$6,216,720$0$0$4,357,100
89$6,754,828$0$0$4,735,753
90$7,344,800$0$0$5,150,957
91$7,991,829$0$0$5,606,374
92$8,701,637$0$0$6,106,040
93$9,480,528$0$0$6,654,397
94$10,335,442$0$0$7,256,342
95$11,274,026$0$0$7,917,266
96$12,304,703$0$0$8,643,109
97$13,436,752$0$0$9,440,413
98$14,680,395$0$0$10,316,387
99$16,046,891$0$0$11,278,972
100$17,548,647$0$0$12,336,915