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%16.9%
1 years$53,676$53,198$52,732$52,276$51,832$50,375
2 years$26,572$26,078$25,598$25,133$24,682$23,225
3 years$17,539$17,042$16,564$16,103$15,659$14,248
4 years$13,023$12,528$12,054$11,601$11,168$9,814
5 years$10,314$9,822$9,354$8,911$8,490$7,196
6 years$8,509$8,020$7,560$7,126$6,718$5,485
7 years$7,220$6,735$6,282$5,859$5,463$4,292
8 years$6,254$5,773$5,328$4,915$4,532$3,422
9 years$5,503$5,027$4,589$4,186$3,817$2,767
10 years$4,902$4,431$4,001$3,609$3,252$2,261
11 years$4,411$3,945$3,522$3,141$2,797$1,862
12 years$4,002$3,540$3,126$2,755$2,424$1,544
13 years$3,656$3,200$2,793$2,432$2,114$1,287
14 years$3,360$2,908$2,509$2,159$1,853$1,078
15 years$3,104$2,657$2,266$1,925$1,631$905
16 years$2,880$2,438$2,054$1,724$1,442$763
17 years$2,682$2,245$1,869$1,549$1,278$644
18 years$2,507$2,074$1,706$1,396$1,137$545
19 years$2,350$1,923$1,562$1,261$1,013$462
20 years$2,209$1,786$1,433$1,142$905$392
21 years$2,082$1,664$1,319$1,037$810$333
22 years$1,966$1,553$1,215$943$726$283
23 years$1,861$1,453$1,122$858$652$241
24 years$1,764$1,361$1,038$783$586$206
25 years$1,676$1,277$961$715$527$175
26 years$1,594$1,201$891$654$475$149
27 years$1,519$1,130$828$598$428$128
28 years$1,449$1,065$769$548$386$109
29 years$1,384$1,004$716$503$349$93
30 years$1,323$949$667$461$315$79
31 years$1,267$897$622$424$285$68
32 years$1,214$848$580$390$258$58
33 years$1,164$803$542$358$233$50
34 years$1,117$762$506$330$211$42
35 years$1,074$722$473$303$191$36
36 years$1,032$686$443$279$173$31
37 years$993$651$414$257$157$26
38 years$957$619$388$237$142$23
39 years$922$588$364$219$129$19
40 years$889$560$341$202$117$17
41 years$857$533$319$186$106$14
42 years$828$508$300$172$96$12
43 years$799$484$281$159$87$10
44 years$772$461$264$146$79$9
45 years$747$440$248$135$72$8
46 years$722$419$233$125$65$6
47 years$699$400$219$115$59$6
48 years$676$382$206$107$54$5
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 $6,183 every year, while hoping to spend $46,227 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: 67/18/15 Blend
55$650,000$650,000$650,000$650,000
56$722,678$688,228$678,153$768,140
57$747,206$672,766$651,686$783,793
58$772,686$654,997$622,783$794,898
59$799,168$634,759$591,313$805,882
60$826,702$611,881$557,141$816,729
61$855,344$586,182$520,124$827,426
62$885,153$557,469$480,113$837,955
63$916,194$525,540$436,952$848,303
64$948,535$490,181$390,479$858,454
65$982,250$451,164$340,524$868,393
66$1,017,417$408,249$286,910$878,108
67$1,054,124$361,184$229,451$887,584
68$1,092,463$309,699$167,956$896,809
69$1,132,532$253,513$102,220$905,774
70$1,174,441$192,326$32,035$914,467
71$1,218,306$125,821$0$922,883
72$1,264,253$53,667$0$937,877
73$1,312,419$0$0$958,503
74$1,362,954$0$0$984,519
75$1,416,019$0$0$1,023,012
76$1,471,788$0$0$1,063,480
77$1,530,453$0$0$1,106,064
78$1,592,221$0$0$1,150,916
79$1,657,318$0$0$1,198,202
80$1,725,989$0$0$1,248,103
81$1,798,503$0$0$1,300,815
82$1,875,152$0$0$1,356,555
83$1,956,255$0$0$1,415,556
84$2,042,160$0$0$1,478,075
85$2,133,248$0$0$1,544,393
86$2,229,935$0$0$1,614,814
87$2,332,675$0$0$1,689,675
88$2,441,967$0$0$1,769,342
89$2,558,354$0$0$1,854,215
90$2,682,433$0$0$1,944,733
91$2,814,856$0$0$2,041,379
92$2,956,340$0$0$2,144,678
93$3,107,667$0$0$2,255,208
94$3,269,697$0$0$2,373,604
95$3,443,374$0$0$2,500,559
96$3,629,731$0$0$2,636,836
97$3,829,903$0$0$2,783,272
98$4,045,135$0$0$2,940,786
99$4,276,796$0$0$3,110,384
100$4,526,387$0$0$3,293,175