Can I retire at age 56 with 654,000?

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 $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%14.5%
1 years$54,007$53,526$53,056$52,598$52,151$51,182
2 years$26,736$26,238$25,755$25,288$24,834$23,861
3 years$17,647$17,147$16,666$16,202$15,756$14,809
4 years$13,103$12,605$12,128$11,673$11,237$10,325
5 years$10,378$9,882$9,412$8,966$8,542$7,667
6 years$8,561$8,070$7,606$7,170$6,759$5,921
7 years$7,265$6,777$6,321$5,895$5,497$4,697
8 years$6,292$5,809$5,361$4,945$4,560$3,798
9 years$5,537$5,058$4,617$4,212$3,840$3,115
10 years$4,932$4,458$4,025$3,631$3,272$2,583
11 years$4,438$3,969$3,544$3,160$2,814$2,161
12 years$4,027$3,562$3,145$2,772$2,439$1,820
13 years$3,679$3,219$2,810$2,447$2,127$1,542
14 years$3,381$2,926$2,525$2,172$1,864$1,312
15 years$3,123$2,673$2,279$1,937$1,641$1,121
16 years$2,897$2,453$2,067$1,735$1,451$960
17 years$2,699$2,259$1,881$1,558$1,286$825
18 years$2,522$2,087$1,717$1,404$1,144$711
19 years$2,365$1,934$1,572$1,269$1,019$613
20 years$2,223$1,797$1,442$1,149$911$530
21 years$2,095$1,674$1,327$1,043$815$459
22 years$1,978$1,563$1,223$948$730$398
23 years$1,872$1,462$1,129$864$656$345
24 years$1,775$1,370$1,044$788$589$299
25 years$1,686$1,285$967$719$530$260
26 years$1,604$1,208$897$658$478$226
27 years$1,528$1,137$833$602$431$197
28 years$1,458$1,071$774$552$389$171
29 years$1,392$1,011$720$506$351$149
30 years$1,331$954$671$464$317$130
31 years$1,274$902$626$426$287$113
32 years$1,221$854$584$392$259$99
33 years$1,171$808$545$360$235$86
34 years$1,124$766$509$332$212$75
35 years$1,080$727$476$305$192$65
36 years$1,039$690$445$281$174$57
37 years$999$655$417$259$158$50
38 years$962$623$390$239$143$43
39 years$927$592$366$220$130$38
40 years$894$563$343$203$118$33
41 years$863$536$321$187$107$29
42 years$833$511$302$173$97$25
43 years$804$487$283$160$88$22
44 years$777$464$266$147$80$19
45 years$751$442$249$136$73$17
46 years$727$422$234$126$66$15
47 years$703$403$220$116$60$13
48 years$681$384$207$107$54$11
49 years$659$367$194$99$49$10
50 years$639$351$183$92$45$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $654,000, adding $5,234 every year, while hoping to spend $24,569 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: 37/37/26 Blend
55$654,000$654,000$654,000$654,000
56$726,107$691,445$681,308$747,159
57$774,029$699,184$677,990$770,848
58$826,015$706,480$673,738$793,787
59$882,454$713,283$668,495$818,086
60$943,774$719,544$662,199$843,883
61$1,010,445$725,208$654,789$871,333
62$1,082,985$730,217$646,198$900,606
63$1,161,961$734,510$636,358$931,893
64$1,248,002$738,021$625,196$965,402
65$1,341,795$740,681$612,638$1,001,370
66$1,444,100$742,417$598,603$1,040,054
67$1,555,752$743,148$583,010$1,081,743
68$1,677,669$742,793$565,771$1,126,756
69$1,810,864$741,262$546,797$1,175,447
70$1,956,450$738,462$525,992$1,228,208
71$2,115,653$734,292$503,258$1,285,473
72$2,289,823$728,646$478,491$1,347,725
73$2,480,448$721,412$451,583$1,415,497
74$2,689,164$712,472$422,421$1,489,380
75$2,917,774$701,698$390,888$1,570,029
76$3,168,263$688,957$356,859$1,658,167
77$3,442,817$674,108$320,205$1,754,597
78$3,743,845$657,000$280,792$1,860,206
79$4,073,998$637,474$238,480$1,975,977
80$4,436,198$615,362$193,121$2,102,995
81$4,833,662$590,486$144,562$2,242,462
82$5,269,934$562,658$92,643$2,395,707
83$5,748,917$531,679$37,197$2,564,200
84$6,274,912$497,337$0$2,749,566
85$6,852,657$459,410$0$2,959,696
86$7,487,369$417,662$0$3,201,890
87$8,184,797$371,844$0$3,468,063
88$8,951,276$321,693$0$3,760,695
89$9,793,781$266,932$0$4,082,524
90$10,720,000$207,265$0$4,436,569
91$11,738,403$142,383$0$4,826,162
92$12,858,318$71,959$0$5,254,980
93$14,090,027$0$0$5,727,080
94$15,444,855$0$0$6,248,710
95$16,935,282$0$0$6,854,880
96$18,575,056$0$0$7,521,897
97$20,379,327$0$0$8,255,936
98$22,364,787$0$0$9,063,801
99$24,549,826$0$0$9,952,989
100$26,954,710$0$0$10,931,763