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%16.7%
1 years$54,007$53,526$53,056$52,598$52,151$50,726
2 years$26,736$26,238$25,755$25,288$24,834$23,408
3 years$17,647$17,147$16,666$16,202$15,756$14,374
4 years$13,103$12,605$12,128$11,673$11,237$9,911
5 years$10,378$9,882$9,412$8,966$8,542$7,275
6 years$8,561$8,070$7,606$7,170$6,759$5,551
7 years$7,265$6,777$6,321$5,895$5,497$4,349
8 years$6,292$5,809$5,361$4,945$4,560$3,472
9 years$5,537$5,058$4,617$4,212$3,840$2,810
10 years$4,932$4,458$4,025$3,631$3,272$2,299
11 years$4,438$3,969$3,544$3,160$2,814$1,896
12 years$4,027$3,562$3,145$2,772$2,439$1,574
13 years$3,679$3,219$2,810$2,447$2,127$1,314
14 years$3,381$2,926$2,525$2,172$1,864$1,102
15 years$3,123$2,673$2,279$1,937$1,641$927
16 years$2,897$2,453$2,067$1,735$1,451$782
17 years$2,699$2,259$1,881$1,558$1,286$661
18 years$2,522$2,087$1,717$1,404$1,144$560
19 years$2,365$1,934$1,572$1,269$1,019$476
20 years$2,223$1,797$1,442$1,149$911$404
21 years$2,095$1,674$1,327$1,043$815$344
22 years$1,978$1,563$1,223$948$730$293
23 years$1,872$1,462$1,129$864$656$250
24 years$1,775$1,370$1,044$788$589$213
25 years$1,686$1,285$967$719$530$182
26 years$1,604$1,208$897$658$478$156
27 years$1,528$1,137$833$602$431$133
28 years$1,458$1,071$774$552$389$114
29 years$1,392$1,011$720$506$351$97
30 years$1,331$954$671$464$317$83
31 years$1,274$902$626$426$287$71
32 years$1,221$854$584$392$259$61
33 years$1,171$808$545$360$235$52
34 years$1,124$766$509$332$212$45
35 years$1,080$727$476$305$192$38
36 years$1,039$690$445$281$174$33
37 years$999$655$417$259$158$28
38 years$962$623$390$239$143$24
39 years$927$592$366$220$130$21
40 years$894$563$343$203$118$18
41 years$863$536$321$187$107$15
42 years$833$511$302$173$97$13
43 years$804$487$283$160$88$11
44 years$777$464$266$147$80$9
45 years$751$442$249$136$73$8
46 years$727$422$234$126$66$7
47 years$703$403$220$116$60$6
48 years$681$384$207$107$54$5
49 years$659$367$194$99$49$4
50 years$639$351$183$92$45$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $654,000, adding $4,023 every year, while hoping to spend $34,434 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: 66/27/7 Blend
55$654,000$654,000$654,000$654,000
56$724,858$690,196$680,059$771,543
57$762,156$687,378$666,203$800,251
58$802,104$683,268$650,729$827,118
59$844,937$677,766$633,547$855,568
60$890,910$670,766$614,561$885,752
61$940,306$662,157$593,672$917,834
62$993,435$651,820$570,777$951,999
63$1,050,634$639,628$545,767$988,451
64$1,112,278$625,449$518,529$1,027,414
65$1,178,776$609,142$488,945$1,069,139
66$1,250,577$590,556$456,891$1,113,901
67$1,328,176$569,533$422,237$1,162,006
68$1,412,117$545,907$384,849$1,213,792
69$1,502,996$519,500$344,585$1,269,633
70$1,601,471$490,125$301,298$1,329,942
71$1,708,263$457,583$254,833$1,395,179
72$1,824,166$421,664$205,030$1,465,849
73$1,950,053$382,149$151,721$1,542,513
74$2,086,886$338,801$94,731$1,625,791
75$2,235,720$291,374$33,876$1,716,368
76$2,397,718$239,606$0$1,815,001
77$2,574,159$183,221$0$1,924,850
78$2,766,452$121,927$0$2,047,371
79$2,976,145$55,416$0$2,181,070
80$3,204,943$0$0$2,327,096
81$3,454,724$0$0$2,491,660
82$3,727,553$0$0$2,689,431
83$4,025,704$0$0$2,905,599
84$4,351,682$0$0$3,141,985
85$4,708,244$0$0$3,400,592
86$5,098,424$0$0$3,683,628
87$5,525,566$0$0$3,993,524
88$5,993,351$0$0$4,332,955
89$6,505,830$0$0$4,704,868
90$7,067,470$0$0$5,112,511
91$7,683,184$0$0$5,559,457
92$8,358,389$0$0$6,049,643
93$9,099,048$0$0$6,587,408
94$9,911,729$0$0$7,177,526
95$10,803,668$0$0$7,825,259
96$11,782,834$0$0$8,536,404
97$12,858,007$0$0$9,317,344
98$14,038,858$0$0$10,175,112
99$15,336,038$0$0$11,117,455
100$16,761,286$0$0$12,152,908