Can I retire at age 56 with 653,000?

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 $653,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$53,924$53,444$52,975$52,518$52,071$50,628
2 years$26,695$26,198$25,716$25,249$24,796$23,352
3 years$17,620$17,121$16,640$16,177$15,731$14,333
4 years$13,083$12,585$12,110$11,655$11,220$9,877
5 years$10,362$9,867$9,398$8,952$8,529$7,246
6 years$8,548$8,057$7,595$7,159$6,749$5,527
7 years$7,253$6,766$6,311$5,886$5,489$4,327
8 years$6,283$5,800$5,352$4,937$4,553$3,452
9 years$5,528$5,050$4,610$4,206$3,835$2,793
10 years$4,925$4,451$4,019$3,625$3,267$2,283
11 years$4,431$3,963$3,538$3,155$2,810$1,882
12 years$4,021$3,557$3,140$2,767$2,435$1,562
13 years$3,673$3,214$2,806$2,443$2,123$1,303
14 years$3,376$2,922$2,521$2,169$1,861$1,091
15 years$3,118$2,669$2,276$1,934$1,639$917
16 years$2,893$2,449$2,063$1,732$1,448$773
17 years$2,695$2,255$1,878$1,556$1,284$654
18 years$2,518$2,084$1,714$1,402$1,142$553
19 years$2,361$1,931$1,569$1,267$1,018$469
20 years$2,219$1,795$1,440$1,148$909$399
21 years$2,091$1,672$1,325$1,042$814$339
22 years$1,975$1,560$1,221$947$729$289
23 years$1,869$1,459$1,127$862$655$246
24 years$1,773$1,367$1,042$787$588$210
25 years$1,684$1,283$966$718$529$179
26 years$1,602$1,206$896$657$477$153
27 years$1,526$1,135$832$601$430$130
28 years$1,455$1,070$773$551$388$111
29 years$1,390$1,009$719$505$350$95
30 years$1,329$953$670$464$317$81
31 years$1,272$901$625$426$286$70
32 years$1,219$852$583$391$259$60
33 years$1,169$807$544$360$234$51
34 years$1,123$765$508$331$212$44
35 years$1,079$726$475$305$192$37
36 years$1,037$689$445$281$174$32
37 years$998$654$416$259$158$27
38 years$961$622$390$238$143$23
39 years$926$591$365$220$130$20
40 years$893$562$342$203$118$17
41 years$861$535$321$187$107$15
42 years$831$510$301$173$97$13
43 years$803$486$283$159$88$11
44 years$776$463$265$147$80$9
45 years$750$442$249$136$72$8
46 years$725$421$234$126$66$7
47 years$702$402$220$116$60$6
48 years$680$384$206$107$54$5
49 years$658$366$194$99$49$4
50 years$638$350$182$92$45$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $653,000, adding $6,578 every year, while hoping to spend $24,540 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: 63/15/22 Blend
55$653,000$653,000$653,000$653,000
56$726,391$691,782$681,661$767,610
57$774,373$699,569$678,386$804,000
58$826,426$706,915$674,179$840,403
59$882,940$713,773$668,983$879,603
60$944,344$720,091$662,737$921,876
61$1,011,108$725,817$655,380$967,527
62$1,083,751$730,892$646,845$1,016,892
63$1,162,843$735,255$637,064$1,070,341
64$1,249,011$738,841$625,964$1,128,283
65$1,342,947$741,581$613,471$1,191,170
66$1,445,411$743,401$599,505$1,259,501
67$1,557,238$744,223$583,984$1,333,824
68$1,679,350$743,964$566,821$1,414,747
69$1,812,761$742,536$547,927$1,502,940
70$1,958,586$739,844$527,206$1,599,140
71$2,118,055$735,789$504,560$1,704,163
72$2,292,520$730,266$479,886$1,818,908
73$2,483,470$723,162$453,076$1,944,367
74$2,692,547$714,360$424,017$2,081,634
75$2,921,556$703,732$392,590$2,231,919
76$3,172,486$691,147$358,674$2,396,551
77$3,447,529$676,462$322,138$2,577,002
78$3,749,096$659,529$282,850$2,774,891
79$4,079,846$640,188$240,667$2,992,008
80$4,442,705$618,272$195,445$3,230,324
81$4,840,898$593,604$147,028$3,492,016
82$5,277,975$565,995$95,259$3,779,483
83$5,757,847$535,248$39,969$4,095,371
84$6,284,825$501,152$0$4,442,600
85$6,863,654$463,486$0$4,828,856
86$7,499,563$422,014$0$5,263,527
87$8,198,314$376,487$0$5,741,178
88$8,966,252$326,645$0$6,266,174
89$9,810,368$272,209$0$6,843,325
90$10,738,365$212,887$0$7,477,933
91$11,758,729$148,369$0$8,175,839
92$12,880,809$78,329$0$8,943,484
93$14,114,906$2,422$0$9,787,963
94$15,472,369$0$0$10,717,098
95$16,965,703$0$0$11,752,667
96$18,608,683$0$0$12,892,506
97$20,416,491$0$0$14,146,751
98$22,405,851$0$0$15,527,015
99$24,595,193$0$0$17,046,090
100$27,004,821$0$0$18,718,074