Can I retire at age 56 with 651,000?

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 $651,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$53,759$53,280$52,813$52,357$51,912$51,263
2 years$26,613$26,118$25,637$25,172$24,720$24,067
3 years$17,566$17,068$16,589$16,128$15,683$15,047
4 years$13,043$12,547$12,073$11,619$11,185$10,570
5 years$10,330$9,837$9,369$8,925$8,503$7,911
6 years$8,522$8,033$7,571$7,137$6,728$6,159
7 years$7,231$6,746$6,292$5,868$5,472$4,927
8 years$6,263$5,782$5,336$4,922$4,539$4,018
9 years$5,511$5,035$4,596$4,193$3,823$3,325
10 years$4,910$4,438$4,007$3,614$3,257$2,783
11 years$4,418$3,951$3,528$3,145$2,801$2,350
12 years$4,008$3,546$3,131$2,759$2,428$1,999
13 years$3,662$3,204$2,797$2,436$2,117$1,710
14 years$3,365$2,913$2,513$2,162$1,856$1,470
15 years$3,109$2,661$2,269$1,928$1,634$1,268
16 years$2,884$2,441$2,057$1,727$1,444$1,098
17 years$2,686$2,248$1,872$1,551$1,280$954
18 years$2,511$2,078$1,709$1,398$1,138$831
19 years$2,354$1,925$1,564$1,263$1,015$725
20 years$2,213$1,789$1,436$1,144$906$633
21 years$2,085$1,667$1,321$1,038$811$554
22 years$1,969$1,556$1,217$944$727$486
23 years$1,864$1,455$1,124$860$653$426
24 years$1,767$1,363$1,039$784$587$375
25 years$1,678$1,279$963$716$528$329
26 years$1,597$1,202$893$655$475$290
27 years$1,521$1,132$829$599$429$255
28 years$1,451$1,066$771$549$387$225
29 years$1,386$1,006$717$504$349$198
30 years$1,325$950$668$462$316$175
31 years$1,269$898$623$424$285$154
32 years$1,216$850$581$390$258$136
33 years$1,166$805$543$359$234$120
34 years$1,119$763$507$330$211$106
35 years$1,075$723$474$304$192$94
36 years$1,034$687$443$280$174$83
37 years$995$652$415$258$157$73
38 years$958$620$389$238$143$65
39 years$923$589$364$219$129$57
40 years$890$561$341$202$117$51
41 years$859$534$320$186$106$45
42 years$829$508$300$172$97$40
43 years$800$484$282$159$88$35
44 years$773$462$264$147$80$31
45 years$748$440$248$135$72$27
46 years$723$420$233$125$66$24
47 years$700$401$219$116$60$21
48 years$677$383$206$107$54$19
49 years$656$365$193$99$49$17
50 years$636$349$182$91$45$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $651,000, adding $4,024 every year, while hoping to spend $33,824 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: 83/5/12 Blend
55$651,000$651,000$651,000$651,000
56$721,553$687,050$676,959$779,589
57$759,163$684,727$663,649$815,875
58$799,475$681,156$648,759$850,817
59$842,730$676,241$632,201$888,175
60$889,191$669,880$613,882$928,176
61$939,147$661,962$593,705$971,064
62$992,914$652,373$571,569$1,017,112
63$1,050,843$640,990$547,368$1,066,619
64$1,113,314$627,684$520,990$1,119,914
65$1,180,749$612,318$492,320$1,177,361
66$1,253,610$594,745$461,237$1,239,359
67$1,332,404$574,814$427,614$1,306,350
68$1,417,688$552,359$391,319$1,378,819
69$1,510,078$527,210$352,213$1,457,300
70$1,610,246$499,183$310,153$1,542,383
71$1,718,935$468,087$264,987$1,634,719
72$1,836,960$433,717$216,558$1,735,022
73$1,965,219$395,858$164,701$1,844,083
74$2,104,698$354,282$109,245$1,962,770
75$2,256,483$308,747$50,011$2,092,042
76$2,421,769$259,001$0$2,232,956
77$2,601,870$204,773$0$2,388,366
78$2,798,234$145,780$0$2,564,809
79$3,012,453$81,722$0$2,757,315
80$3,246,279$12,283$0$2,967,471
81$3,501,643$0$0$3,197,023
82$3,780,666$0$0$3,451,355
83$4,085,689$0$0$3,730,137
84$4,419,285$0$0$4,035,048
85$4,784,289$0$0$4,368,678
86$5,183,821$0$0$4,733,884
87$5,621,319$0$0$5,133,809
88$6,100,568$0$0$5,571,913
89$6,625,735$0$0$6,052,009
90$7,201,410$0$0$6,578,295
91$7,832,650$0$0$7,155,396
92$8,525,022$0$0$7,788,403
93$9,284,660$0$0$8,482,927
94$10,118,318$0$0$9,245,145
95$11,033,438$0$0$10,081,864
96$12,038,217$0$0$11,000,581
97$13,141,683$0$0$12,009,553
98$14,353,783$0$0$13,117,877
99$15,685,474$0$0$14,335,577
100$17,148,827$0$0$15,673,691