Can I retire at age 56 with 658,000?

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 $658,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$54,337$53,853$53,381$52,920$52,470$50,770
2 years$26,900$26,399$25,913$25,442$24,986$23,289
3 years$17,755$17,252$16,767$16,301$15,852$14,212
4 years$13,183$12,682$12,202$11,744$11,306$9,735
5 years$10,441$9,943$9,470$9,021$8,594$7,097
6 years$8,614$8,119$7,653$7,214$6,800$5,377
7 years$7,309$6,818$6,360$5,931$5,531$4,182
8 years$6,331$5,845$5,393$4,975$4,588$3,312
9 years$5,570$5,089$4,645$4,238$3,864$2,660
10 years$4,962$4,485$4,050$3,653$3,292$2,158
11 years$4,465$3,993$3,565$3,179$2,831$1,766
12 years$4,051$3,584$3,164$2,789$2,454$1,453
13 years$3,701$3,239$2,827$2,462$2,140$1,203
14 years$3,402$2,944$2,540$2,185$1,876$999
15 years$3,142$2,689$2,293$1,949$1,651$833
16 years$2,915$2,468$2,079$1,745$1,460$696
17 years$2,715$2,273$1,892$1,568$1,294$583
18 years$2,538$2,100$1,727$1,413$1,151$489
19 years$2,379$1,946$1,581$1,277$1,026$411
20 years$2,236$1,808$1,451$1,156$916$346
21 years$2,107$1,685$1,335$1,050$820$292
22 years$1,990$1,572$1,230$954$735$246
23 years$1,884$1,471$1,136$869$660$208
24 years$1,786$1,378$1,050$793$593$175
25 years$1,696$1,293$973$724$534$148
26 years$1,614$1,215$902$662$481$125
27 years$1,537$1,144$838$606$433$106
28 years$1,467$1,078$779$555$391$90
29 years$1,401$1,017$725$509$353$76
30 years$1,339$960$675$467$319$64
31 years$1,282$908$629$429$288$54
32 years$1,229$859$587$394$261$46
33 years$1,178$813$548$363$236$39
34 years$1,131$771$512$334$214$33
35 years$1,087$731$479$307$194$28
36 years$1,045$694$448$283$175$24
37 years$1,006$659$419$261$159$20
38 years$968$626$393$240$144$17
39 years$933$596$368$221$131$14
40 years$900$567$345$204$119$12
41 years$868$539$323$188$108$10
42 years$838$514$303$174$98$9
43 years$809$490$285$161$89$7
44 years$782$467$267$148$80$6
45 years$756$445$251$137$73$5
46 years$731$424$236$126$66$5
47 years$707$405$221$117$60$4
48 years$685$387$208$108$55$3
49 years$663$369$196$100$50$3
50 years$642$353$184$92$45$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $658,000, adding $2,485 every year, while hoping to spend $24,939 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: 62/17/21 Blend
55$658,000$658,000$658,000$658,000
56$727,679$692,805$682,606$768,676
57$775,368$700,218$678,939$804,071
58$827,084$707,158$674,312$839,705
59$883,214$713,576$668,669$878,043
60$944,180$719,418$661,947$919,350
61$1,010,446$724,630$654,083$963,921
62$1,082,526$729,151$645,009$1,012,080
63$1,160,982$732,918$634,654$1,064,185
64$1,246,433$735,862$622,947$1,120,632
65$1,339,562$737,912$609,808$1,181,857
66$1,441,119$738,991$595,158$1,248,342
67$1,551,930$739,019$578,913$1,320,618
68$1,672,903$737,907$560,983$1,399,272
69$1,805,041$735,566$541,277$1,484,952
70$1,949,443$731,897$519,698$1,578,371
71$2,107,324$726,797$496,145$1,680,318
72$2,280,018$720,158$470,514$1,791,664
73$2,468,996$711,861$442,692$1,913,369
74$2,675,877$701,786$412,565$2,046,490
75$2,902,443$689,801$380,013$2,192,199
76$3,150,659$675,767$344,910$2,351,783
77$3,422,686$659,540$307,124$2,526,667
78$3,720,905$640,962$266,519$2,718,419
79$4,047,940$619,872$222,949$2,928,771
80$4,406,678$596,094$176,267$3,159,633
81$4,800,302$569,446$126,314$3,413,113
82$5,232,317$539,732$72,929$3,691,535
83$5,706,581$506,747$15,941$3,997,464
84$6,227,349$470,274$0$4,333,727
85$6,799,304$430,082$0$4,713,499
86$7,427,606$385,930$0$5,134,631
87$8,117,940$337,559$0$5,597,385
88$8,876,570$284,699$0$6,105,991
89$9,710,393$227,062$0$6,665,111
90$10,627,011$164,346$0$7,279,885
91$11,634,799$96,232$0$7,955,977
92$12,742,981$22,380$0$8,699,629
93$13,961,723$0$0$9,517,723
94$15,302,224$0$0$10,428,612
95$16,776,823$0$0$11,435,283
96$18,399,115$0$0$12,542,837
97$20,184,078$0$0$13,761,508
98$22,148,218$0$0$15,102,572
99$24,309,720$0$0$16,578,452
100$26,688,619$0$0$18,202,837