Can I retire at age 56 with 651,000?

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 $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%16.9%
1 years$53,759$53,280$52,813$52,357$51,912$50,452
2 years$26,613$26,118$25,637$25,172$24,720$23,261
3 years$17,566$17,068$16,589$16,128$15,683$14,270
4 years$13,043$12,547$12,073$11,619$11,185$9,829
5 years$10,330$9,837$9,369$8,925$8,503$7,207
6 years$8,522$8,033$7,571$7,137$6,728$5,494
7 years$7,231$6,746$6,292$5,868$5,472$4,299
8 years$6,263$5,782$5,336$4,922$4,539$3,428
9 years$5,511$5,035$4,596$4,193$3,823$2,771
10 years$4,910$4,438$4,007$3,614$3,257$2,264
11 years$4,418$3,951$3,528$3,145$2,801$1,865
12 years$4,008$3,546$3,131$2,759$2,428$1,547
13 years$3,662$3,204$2,797$2,436$2,117$1,289
14 years$3,365$2,913$2,513$2,162$1,856$1,079
15 years$3,109$2,661$2,269$1,928$1,634$907
16 years$2,884$2,441$2,057$1,727$1,444$764
17 years$2,686$2,248$1,872$1,551$1,280$645
18 years$2,511$2,078$1,709$1,398$1,138$546
19 years$2,354$1,925$1,564$1,263$1,015$463
20 years$2,213$1,789$1,436$1,144$906$393
21 years$2,085$1,667$1,321$1,038$811$334
22 years$1,969$1,556$1,217$944$727$284
23 years$1,864$1,455$1,124$860$653$242
24 years$1,767$1,363$1,039$784$587$206
25 years$1,678$1,279$963$716$528$175
26 years$1,597$1,202$893$655$475$150
27 years$1,521$1,132$829$599$429$128
28 years$1,451$1,066$771$549$387$109
29 years$1,386$1,006$717$504$349$93
30 years$1,325$950$668$462$316$79
31 years$1,269$898$623$424$285$68
32 years$1,216$850$581$390$258$58
33 years$1,166$805$543$359$234$50
34 years$1,119$763$507$330$211$42
35 years$1,075$723$474$304$192$36
36 years$1,034$687$443$280$174$31
37 years$995$652$415$258$157$26
38 years$958$620$389$238$143$23
39 years$923$589$364$219$129$19
40 years$890$561$341$202$117$17
41 years$859$534$320$186$106$14
42 years$829$508$300$172$97$12
43 years$800$484$282$159$88$10
44 years$773$462$264$147$80$9
45 years$748$440$248$135$72$8
46 years$723$420$233$125$66$6
47 years$700$401$219$116$60$6
48 years$677$383$206$107$54$5
49 years$656$365$193$99$49$4
50 years$636$349$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 $651,000, adding $6,576 every year, while hoping to spend $41,282 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: 71/17/12 Blend
55$651,000$651,000$651,000$651,000
56$724,185$689,682$679,592$773,316
57$754,128$679,553$658,434$796,612
58$785,742$667,544$635,184$816,440
59$819,153$653,519$609,729$837,044
60$854,500$637,335$581,948$858,494
61$891,934$618,839$551,718$880,864
62$931,620$597,870$518,909$904,239
63$973,738$574,259$483,385$928,714
64$1,018,485$547,824$445,005$954,393
65$1,066,078$518,374$403,620$981,391
66$1,116,752$485,709$359,075$1,009,840
67$1,170,766$449,613$311,209$1,039,883
68$1,228,402$409,862$259,853$1,071,681
69$1,289,971$366,218$204,830$1,105,412
70$1,355,813$318,427$145,956$1,141,274
71$1,426,299$266,224$83,040$1,179,487
72$1,501,840$209,327$15,879$1,220,297
73$1,582,883$147,439$0$1,263,975
74$1,669,919$80,246$0$1,317,967
75$1,763,489$7,416$0$1,378,099
76$1,864,185$0$0$1,442,735
77$1,972,658$0$0$1,525,676
78$2,089,622$0$0$1,616,632
79$2,215,863$0$0$1,714,828
80$2,352,243$0$0$1,820,939
81$2,499,711$0$0$1,935,706
82$2,659,307$0$0$2,059,944
83$2,832,178$0$0$2,194,548
84$3,019,583$0$0$2,340,503
85$3,222,907$0$0$2,498,892
86$3,443,672$0$0$2,670,906
87$3,683,555$0$0$2,857,855
88$3,944,397$0$0$3,061,180
89$4,228,227$0$0$3,282,466
90$4,537,274$0$0$3,523,459
91$4,873,994$0$0$3,786,078
92$5,241,088$0$0$4,072,435
93$5,641,529$0$0$4,384,856
94$6,078,589$0$0$4,725,901
95$6,555,870$0$0$5,098,387
96$7,077,337$0$0$5,505,416
97$7,647,357$0$0$5,950,401
98$8,270,735$0$0$6,437,104
99$8,952,763$0$0$6,969,662
100$9,699,267$0$0$7,552,635