Can I retire at age 56 with 650,000?

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 $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%17.1%
1 years$53,676$53,198$52,732$52,276$51,832$50,334
2 years$26,572$26,078$25,598$25,133$24,682$23,185
3 years$17,539$17,042$16,564$16,103$15,659$14,210
4 years$13,023$12,528$12,054$11,601$11,168$9,777
5 years$10,314$9,822$9,354$8,911$8,490$7,162
6 years$8,509$8,020$7,560$7,126$6,718$5,453
7 years$7,220$6,735$6,282$5,859$5,463$4,263
8 years$6,254$5,773$5,328$4,915$4,532$3,395
9 years$5,503$5,027$4,589$4,186$3,817$2,741
10 years$4,902$4,431$4,001$3,609$3,252$2,237
11 years$4,411$3,945$3,522$3,141$2,797$1,840
12 years$4,002$3,540$3,126$2,755$2,424$1,524
13 years$3,656$3,200$2,793$2,432$2,114$1,269
14 years$3,360$2,908$2,509$2,159$1,853$1,061
15 years$3,104$2,657$2,266$1,925$1,631$890
16 years$2,880$2,438$2,054$1,724$1,442$748
17 years$2,682$2,245$1,869$1,549$1,278$631
18 years$2,507$2,074$1,706$1,396$1,137$533
19 years$2,350$1,923$1,562$1,261$1,013$451
20 years$2,209$1,786$1,433$1,142$905$382
21 years$2,082$1,664$1,319$1,037$810$325
22 years$1,966$1,553$1,215$943$726$276
23 years$1,861$1,453$1,122$858$652$234
24 years$1,764$1,361$1,038$783$586$199
25 years$1,676$1,277$961$715$527$170
26 years$1,594$1,201$891$654$475$144
27 years$1,519$1,130$828$598$428$123
28 years$1,449$1,065$769$548$386$105
29 years$1,384$1,004$716$503$349$89
30 years$1,323$949$667$461$315$76
31 years$1,267$897$622$424$285$65
32 years$1,214$848$580$390$258$55
33 years$1,164$803$542$358$233$47
34 years$1,117$762$506$330$211$40
35 years$1,074$722$473$303$191$34
36 years$1,032$686$443$279$173$29
37 years$993$651$414$257$157$25
38 years$957$619$388$237$142$21
39 years$922$588$364$219$129$18
40 years$889$560$341$202$117$16
41 years$857$533$319$186$106$13
42 years$828$508$300$172$96$11
43 years$799$484$281$159$87$10
44 years$772$461$264$146$79$8
45 years$747$440$248$135$72$7
46 years$722$419$233$125$65$6
47 years$699$400$219$115$59$5
48 years$676$382$206$107$54$4
49 years$655$365$193$99$49$4
50 years$635$348$182$91$45$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $650,000, adding $4,018 every year, while hoping to spend $37,741 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: 35/40/25 Blend
55$650,000$650,000$650,000$650,000
56$720,445$685,995$675,920$740,096
57$753,774$679,452$658,407$748,501
58$789,238$671,324$639,042$753,847
59$827,014$661,493$617,724$758,867
60$867,298$649,835$594,347$763,558
61$910,302$636,217$568,797$767,918
62$956,261$620,500$540,960$771,948
63$1,005,431$602,535$510,713$775,654
64$1,058,092$582,167$477,929$779,045
65$1,114,553$559,228$442,476$782,137
66$1,175,152$533,545$404,213$784,951
67$1,240,260$504,931$362,997$787,514
68$1,310,284$473,191$318,675$789,862
69$1,385,672$438,115$271,089$792,039
70$1,466,913$399,486$220,073$794,101
71$1,554,549$357,071$165,456$796,113
72$1,649,170$310,625$107,056$798,155
73$1,751,429$259,889$44,686$800,321
74$1,862,040$204,589$0$802,720
75$1,981,790$144,436$0$811,318
76$2,111,545$79,125$0$833,530
77$2,252,254$8,334$0$857,654
78$2,404,964$0$0$883,949
79$2,570,823$0$0$942,763
80$2,751,098$0$0$1,010,757
81$2,947,180$0$0$1,084,800
82$3,160,599$0$0$1,165,480
83$3,393,040$0$0$1,253,446
84$3,646,357$0$0$1,349,410
85$3,922,591$0$0$1,454,158
86$4,223,985$0$0$1,568,554
87$4,553,013$0$0$1,693,550
88$4,912,394$0$0$1,830,193
89$5,305,123$0$0$1,979,636
90$5,734,499$0$0$2,143,150
91$6,204,150$0$0$2,322,132
92$6,718,075$0$0$2,518,123
93$7,280,676$0$0$2,732,817
94$7,896,798$0$0$2,968,082
95$8,571,780$0$0$3,225,974
96$9,311,499$0$0$3,508,759
97$10,122,430$0$0$3,818,931
98$11,011,702$0$0$4,159,236
99$11,987,169$0$0$4,532,702
100$13,057,480$0$0$4,942,663