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%15.6%
1 years$53,924$53,444$52,975$52,518$52,071$50,874
2 years$26,695$26,198$25,716$25,249$24,796$23,597
3 years$17,620$17,121$16,640$16,177$15,731$14,567
4 years$13,083$12,585$12,110$11,655$11,220$10,100
5 years$10,362$9,867$9,398$8,952$8,529$7,456
6 years$8,548$8,057$7,595$7,159$6,749$5,724
7 years$7,253$6,766$6,311$5,886$5,489$4,513
8 years$6,283$5,800$5,352$4,937$4,553$3,625
9 years$5,528$5,050$4,610$4,206$3,835$2,954
10 years$4,925$4,451$4,019$3,625$3,267$2,433
11 years$4,431$3,963$3,538$3,155$2,810$2,021
12 years$4,021$3,557$3,140$2,767$2,435$1,690
13 years$3,673$3,214$2,806$2,443$2,123$1,421
14 years$3,376$2,922$2,521$2,169$1,861$1,201
15 years$3,118$2,669$2,276$1,934$1,639$1,018
16 years$2,893$2,449$2,063$1,732$1,448$865
17 years$2,695$2,255$1,878$1,556$1,284$738
18 years$2,518$2,084$1,714$1,402$1,142$630
19 years$2,361$1,931$1,569$1,267$1,018$539
20 years$2,219$1,795$1,440$1,148$909$462
21 years$2,091$1,672$1,325$1,042$814$397
22 years$1,975$1,560$1,221$947$729$341
23 years$1,869$1,459$1,127$862$655$293
24 years$1,773$1,367$1,042$787$588$252
25 years$1,684$1,283$966$718$529$217
26 years$1,602$1,206$896$657$477$187
27 years$1,526$1,135$832$601$430$162
28 years$1,455$1,070$773$551$388$139
29 years$1,390$1,009$719$505$350$120
30 years$1,329$953$670$464$317$104
31 years$1,272$901$625$426$286$90
32 years$1,219$852$583$391$259$77
33 years$1,169$807$544$360$234$67
34 years$1,123$765$508$331$212$58
35 years$1,079$726$475$305$192$50
36 years$1,037$689$445$281$174$43
37 years$998$654$416$259$158$37
38 years$961$622$390$238$143$32
39 years$926$591$365$220$130$28
40 years$893$562$342$203$118$24
41 years$861$535$321$187$107$21
42 years$831$510$301$173$97$18
43 years$803$486$283$159$88$16
44 years$776$463$265$147$80$13
45 years$750$442$249$136$72$12
46 years$725$421$234$126$66$10
47 years$702$402$220$116$60$9
48 years$680$384$206$107$54$8
49 years$658$366$194$99$49$7
50 years$638$350$182$92$45$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $653,000, adding $2,131 every year, while hoping to spend $47,214 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: 59/15/26 Blend
55$653,000$653,000$653,000$653,000
56$721,804$687,195$677,074$759,202
57$745,193$670,632$649,520$768,396
58$769,385$651,676$619,461$773,186
59$794,412$630,158$586,763$777,410
60$820,308$605,902$551,286$781,026
61$847,109$578,721$512,884$783,988
62$874,853$548,416$471,404$786,248
63$903,578$514,779$426,686$787,757
64$933,327$477,587$378,564$788,462
65$964,145$436,607$326,865$788,308
66$996,078$391,591$271,405$787,239
67$1,029,176$342,277$211,995$785,195
68$1,063,492$288,389$148,437$782,113
69$1,099,083$229,635$80,525$777,930
70$1,136,009$165,706$8,041$772,577
71$1,174,332$96,276$0$765,984
72$1,214,122$21,002$0$777,306
73$1,255,450$0$0$790,871
74$1,298,395$0$0$814,417
75$1,343,039$0$0$842,506
76$1,389,472$0$0$871,728
77$1,437,788$0$0$902,144
78$1,488,090$0$0$933,820
79$1,540,487$0$0$966,826
80$1,595,098$0$0$1,001,238
81$1,652,051$0$0$1,037,138
82$1,711,481$0$0$1,074,613
83$1,773,538$0$0$1,113,759
84$1,838,380$0$0$1,154,678
85$1,906,180$0$0$1,197,481
86$1,977,124$0$0$1,242,289
87$2,051,415$0$0$1,289,231
88$2,129,272$0$0$1,338,448
89$2,210,931$0$0$1,390,093
90$2,296,650$0$0$1,444,332
91$2,386,709$0$0$1,501,347
92$2,481,411$0$0$1,561,331
93$2,581,089$0$0$1,624,500
94$2,686,100$0$0$1,691,086
95$2,796,837$0$0$1,761,341
96$2,913,727$0$0$1,835,542
97$3,037,235$0$0$1,913,989
98$3,167,871$0$0$1,997,011
99$3,306,187$0$0$2,084,968
100$3,452,790$0$0$2,178,250