Can I retire at age 56 with 659,000?

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 $659,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$54,420$53,935$53,462$53,000$52,550$50,929
2 years$26,940$26,439$25,952$25,481$25,024$23,405
3 years$17,782$17,278$16,793$16,326$15,876$14,310
4 years$13,203$12,701$12,221$11,762$11,323$9,822
5 years$10,457$9,958$9,484$9,034$8,607$7,175
6 years$8,627$8,131$7,664$7,225$6,811$5,449
7 years$7,320$6,829$6,369$5,940$5,539$4,247
8 years$6,340$5,853$5,402$4,983$4,595$3,372
9 years$5,579$5,096$4,652$4,244$3,870$2,715
10 years$4,970$4,492$4,056$3,659$3,297$2,208
11 years$4,472$3,999$3,571$3,184$2,836$1,811
12 years$4,058$3,589$3,169$2,793$2,457$1,495
13 years$3,707$3,244$2,831$2,466$2,143$1,240
14 years$3,407$2,949$2,544$2,189$1,878$1,033
15 years$3,147$2,694$2,297$1,952$1,654$864
16 years$2,920$2,471$2,082$1,748$1,462$724
17 years$2,719$2,276$1,895$1,570$1,296$608
18 years$2,542$2,103$1,730$1,415$1,152$512
19 years$2,383$1,949$1,584$1,279$1,027$432
20 years$2,240$1,811$1,453$1,158$917$364
21 years$2,111$1,687$1,337$1,051$821$308
22 years$1,993$1,575$1,232$956$736$261
23 years$1,887$1,473$1,138$870$661$221
24 years$1,789$1,380$1,052$794$594$187
25 years$1,699$1,295$974$725$534$158
26 years$1,616$1,217$904$663$481$134
27 years$1,540$1,145$839$607$434$114
28 years$1,469$1,079$780$556$392$97
29 years$1,403$1,018$726$510$354$82
30 years$1,341$962$676$468$319$70
31 years$1,284$909$630$430$289$59
32 years$1,230$860$588$395$261$50
33 years$1,180$815$549$363$236$43
34 years$1,133$772$513$334$214$36
35 years$1,089$732$480$308$194$31
36 years$1,047$695$449$283$176$26
37 years$1,007$660$420$261$159$22
38 years$970$627$393$241$144$19
39 years$934$597$369$222$131$16
40 years$901$568$345$205$119$14
41 years$869$540$324$189$108$12
42 years$839$515$304$174$98$10
43 years$810$490$285$161$89$8
44 years$783$467$268$148$81$7
45 years$757$446$251$137$73$6
46 years$732$425$236$127$66$5
47 years$708$406$222$117$60$4
48 years$686$387$208$108$55$4
49 years$664$370$196$100$50$3
50 years$643$353$184$92$45$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $659,000, adding $6,949 every year, while hoping to spend $29,520 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: 67/15/18 Blend
55$659,000$659,000$659,000$659,000
56$733,386$698,459$688,244$778,839
57$776,782$701,274$679,892$812,922
58$823,616$703,238$670,269$846,101
59$874,205$704,278$659,304$881,660
60$928,903$704,316$646,920$919,834
61$988,093$703,270$633,034$960,877
62$1,052,201$701,053$617,563$1,005,075
63$1,121,693$697,571$600,418$1,052,741
64$1,197,081$692,727$581,508$1,104,220
65$1,278,929$686,417$560,734$1,159,895
66$1,367,858$678,530$537,997$1,220,187
67$1,464,549$668,948$513,190$1,285,563
68$1,569,754$657,547$486,202$1,356,536
69$1,684,298$644,196$456,920$1,433,674
70$1,809,091$628,756$425,220$1,517,604
71$1,945,131$611,078$390,978$1,609,017
72$2,093,520$591,006$354,062$1,708,678
73$2,255,470$568,376$314,333$1,817,429
74$2,432,313$543,012$271,649$1,936,200
75$2,625,518$514,728$225,858$2,066,019
76$2,836,700$483,330$176,804$2,208,019
77$3,067,640$448,610$124,323$2,363,451
78$3,320,296$410,348$68,245$2,533,694
79$3,596,825$368,314$8,390$2,720,273
80$3,899,603$322,263$0$2,924,868
81$4,231,245$271,937$0$3,159,990
82$4,594,632$217,061$0$3,419,441
83$4,992,936$157,349$0$3,703,905
84$5,429,651$92,494$0$4,015,913
85$5,908,625$22,176$0$4,358,256
86$6,434,097$0$0$4,734,009
87$7,010,735$0$0$5,155,467
88$7,643,681$0$0$5,622,140
89$8,338,600$0$0$6,134,550
90$9,101,732$0$0$6,697,302
91$9,939,949$0$0$7,315,471
92$10,860,825$0$0$7,994,648
93$11,872,701$0$0$8,740,989
94$12,984,766$0$0$9,561,281
95$14,207,145$0$0$10,462,997
96$15,550,992$0$0$11,454,371
97$17,028,595$0$0$12,544,477
98$18,653,492$0$0$13,743,308
99$20,440,600$0$0$15,061,878
100$22,406,353$0$0$16,512,320