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%14.2%
1 years$53,759$53,280$52,813$52,357$51,912$51,010
2 years$26,613$26,118$25,637$25,172$24,720$23,814
3 years$17,566$17,068$16,589$16,128$15,683$14,802
4 years$13,043$12,547$12,073$11,619$11,185$10,335
5 years$10,330$9,837$9,369$8,925$8,503$7,686
6 years$8,522$8,033$7,571$7,137$6,728$5,946
7 years$7,231$6,746$6,292$5,868$5,472$4,724
8 years$6,263$5,782$5,336$4,922$4,539$3,827
9 years$5,511$5,035$4,596$4,193$3,823$3,144
10 years$4,910$4,438$4,007$3,614$3,257$2,612
11 years$4,418$3,951$3,528$3,145$2,801$2,189
12 years$4,008$3,546$3,131$2,759$2,428$1,848
13 years$3,662$3,204$2,797$2,436$2,117$1,568
14 years$3,365$2,913$2,513$2,162$1,856$1,337
15 years$3,109$2,661$2,269$1,928$1,634$1,145
16 years$2,884$2,441$2,057$1,727$1,444$983
17 years$2,686$2,248$1,872$1,551$1,280$846
18 years$2,511$2,078$1,709$1,398$1,138$731
19 years$2,354$1,925$1,564$1,263$1,015$632
20 years$2,213$1,789$1,436$1,144$906$547
21 years$2,085$1,667$1,321$1,038$811$475
22 years$1,969$1,556$1,217$944$727$412
23 years$1,864$1,455$1,124$860$653$359
24 years$1,767$1,363$1,039$784$587$312
25 years$1,678$1,279$963$716$528$272
26 years$1,597$1,202$893$655$475$237
27 years$1,521$1,132$829$599$429$207
28 years$1,451$1,066$771$549$387$180
29 years$1,386$1,006$717$504$349$157
30 years$1,325$950$668$462$316$137
31 years$1,269$898$623$424$285$120
32 years$1,216$850$581$390$258$105
33 years$1,166$805$543$359$234$92
34 years$1,119$763$507$330$211$80
35 years$1,075$723$474$304$192$70
36 years$1,034$687$443$280$174$61
37 years$995$652$415$258$157$54
38 years$958$620$389$238$143$47
39 years$923$589$364$219$129$41
40 years$890$561$341$202$117$36
41 years$859$534$320$186$106$31
42 years$829$508$300$172$97$28
43 years$800$484$282$159$88$24
44 years$773$462$264$147$80$21
45 years$748$440$248$135$72$18
46 years$723$420$233$125$66$16
47 years$700$401$219$116$60$14
48 years$677$383$206$107$54$12
49 years$656$365$193$99$49$11
50 years$636$349$182$91$45$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $651,000, adding $5,181 every year, while hoping to spend $21,029 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: 62/29/9 Blend
55$651,000$651,000$651,000$651,000
56$722,746$688,243$678,153$765,828
57$774,092$699,592$678,496$806,624
58$829,969$710,793$678,146$848,234
59$890,820$721,815$677,058$893,119
60$957,127$732,628$675,183$941,598
61$1,029,424$743,197$672,471$994,020
62$1,108,298$753,486$668,871$1,050,768
63$1,194,393$763,455$664,328$1,112,269
64$1,288,421$773,065$658,783$1,178,989
65$1,391,165$782,270$652,177$1,251,443
66$1,503,485$791,022$644,446$1,330,201
67$1,626,330$799,272$635,524$1,415,888
68$1,760,744$806,964$625,343$1,509,196
69$1,907,877$814,043$613,829$1,610,885
70$2,068,995$820,445$600,906$1,721,795
71$2,245,492$826,107$586,496$1,842,852
72$2,438,904$830,958$570,516$1,975,076
73$2,650,921$834,924$552,877$2,119,591
74$2,883,407$837,927$533,490$2,277,638
75$3,138,412$839,883$512,260$2,450,584
76$3,418,196$840,703$489,087$2,639,936
77$3,725,247$840,293$463,866$2,847,358
78$4,062,307$838,552$436,491$3,074,680
79$4,432,396$835,374$406,846$3,323,924
80$4,838,839$830,646$374,814$3,597,316
81$5,285,300$824,248$340,271$3,897,313
82$5,775,818$816,053$303,086$4,226,622
83$6,314,837$805,926$263,126$4,588,227
84$6,907,258$793,724$220,248$4,985,420
85$7,558,478$779,295$174,306$5,421,827
86$8,274,442$762,481$125,145$5,901,450
87$9,061,703$743,109$72,604$6,428,697
88$9,927,476$721,002$16,517$7,008,430
89$10,879,716$695,968$0$7,646,008
90$11,927,182$667,805$0$8,351,500
91$13,079,529$636,302$0$9,129,221
92$14,347,392$601,231$0$9,984,781
93$15,742,489$562,356$0$10,926,115
94$17,277,735$519,423$0$11,961,969
95$18,967,355$472,165$0$13,101,980
96$20,827,026$420,302$0$14,356,776
97$22,874,021$363,535$0$15,738,066
98$25,127,372$301,550$0$17,258,759
99$27,608,052$234,014$0$18,933,081
100$30,339,168$160,575$0$20,776,716