Can I retire at age 56 with 654,000?

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 $654,000?

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%
1 years$54,007$53,526$53,056$52,598$52,151$51,478
2 years$26,736$26,238$25,755$25,288$24,834$24,157
3 years$17,647$17,147$16,666$16,202$15,756$15,095
4 years$13,103$12,605$12,128$11,673$11,237$10,599
5 years$10,378$9,882$9,412$8,966$8,542$7,928
6 years$8,561$8,070$7,606$7,170$6,759$6,170
7 years$7,265$6,777$6,321$5,895$5,497$4,932
8 years$6,292$5,809$5,361$4,945$4,560$4,020
9 years$5,537$5,058$4,617$4,212$3,840$3,325
10 years$4,932$4,458$4,025$3,631$3,272$2,781
11 years$4,438$3,969$3,544$3,160$2,814$2,347
12 years$4,027$3,562$3,145$2,772$2,439$1,995
13 years$3,679$3,219$2,810$2,447$2,127$1,705
14 years$3,381$2,926$2,525$2,172$1,864$1,465
15 years$3,123$2,673$2,279$1,937$1,641$1,263
16 years$2,897$2,453$2,067$1,735$1,451$1,093
17 years$2,699$2,259$1,881$1,558$1,286$949
18 years$2,522$2,087$1,717$1,404$1,144$826
19 years$2,365$1,934$1,572$1,269$1,019$720
20 years$2,223$1,797$1,442$1,149$911$629
21 years$2,095$1,674$1,327$1,043$815$550
22 years$1,978$1,563$1,223$948$730$482
23 years$1,872$1,462$1,129$864$656$422
24 years$1,775$1,370$1,044$788$589$371
25 years$1,686$1,285$967$719$530$326
26 years$1,604$1,208$897$658$478$286
27 years$1,528$1,137$833$602$431$252
28 years$1,458$1,071$774$552$389$222
29 years$1,392$1,011$720$506$351$195
30 years$1,331$954$671$464$317$172
31 years$1,274$902$626$426$287$152
32 years$1,221$854$584$392$259$134
33 years$1,171$808$545$360$235$118
34 years$1,124$766$509$332$212$104
35 years$1,080$727$476$305$192$92
36 years$1,039$690$445$281$174$81
37 years$999$655$417$259$158$72
38 years$962$623$390$239$143$63
39 years$927$592$366$220$130$56
40 years$894$563$343$203$118$49
41 years$863$536$321$187$107$44
42 years$833$511$302$173$97$39
43 years$804$487$283$160$88$34
44 years$777$464$266$147$80$30
45 years$751$442$249$136$73$27
46 years$727$422$234$126$66$24
47 years$703$403$220$116$60$21
48 years$681$384$207$107$54$18
49 years$659$367$194$99$49$16
50 years$639$351$183$92$45$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $654,000, adding $6,028 every year, while hoping to spend $31,497 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: 84/11/5 Blend
55$654,000$654,000$654,000$654,000
56$726,926$692,264$682,127$787,453
57$767,560$692,672$671,466$828,248
58$811,283$692,045$659,391$868,123
59$858,376$690,298$645,824$910,915
60$909,150$687,342$630,679$956,896
61$963,945$683,083$613,868$1,006,366
62$1,023,133$677,420$595,298$1,059,653
63$1,087,126$670,247$574,874$1,117,121
64$1,156,375$661,451$552,494$1,179,170
65$1,231,375$650,912$528,053$1,246,239
66$1,312,673$638,504$501,440$1,318,813
67$1,400,867$624,093$472,540$1,397,426
68$1,496,618$607,536$441,232$1,482,665
69$1,600,650$588,682$407,391$1,575,179
70$1,713,762$567,373$370,884$1,675,682
71$1,836,832$543,441$331,575$1,784,958
72$1,970,825$516,705$289,319$1,903,876
73$2,116,805$486,979$243,966$2,033,388
74$2,275,940$454,063$195,360$2,174,548
75$2,449,519$417,745$143,338$2,328,513
76$2,638,958$377,802$87,728$2,496,561
77$2,845,816$334,000$28,352$2,680,100
78$3,071,812$286,088$0$2,880,680
79$3,318,834$233,803$0$3,101,880
80$3,588,964$176,869$0$3,345,450
81$3,884,493$114,990$0$3,611,963
82$4,207,943$47,856$0$3,903,720
83$4,562,094$0$0$4,223,253
84$4,950,003$0$0$4,576,365
85$5,375,040$0$0$4,969,632
86$5,840,916$0$0$5,400,696
87$6,351,715$0$0$5,873,340
88$6,911,940$0$0$6,391,730
89$7,526,546$0$0$6,960,454
90$8,200,995$0$0$7,584,566
91$8,941,299$0$0$8,269,632
92$9,754,084$0$0$9,021,786
93$10,646,648$0$0$9,847,782
94$11,627,029$0$0$10,755,062
95$12,704,083$0$0$11,751,822
96$13,887,567$0$0$12,847,094
97$15,188,227$0$0$14,050,827
98$16,617,905$0$0$15,373,979
99$18,189,645$0$0$16,828,628
100$19,917,818$0$0$18,428,075