Can I retire at age 56 with 661,000?

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 $661,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$54,585$54,099$53,624$53,161$52,709$52,465
2 years$27,022$26,519$26,031$25,558$25,100$24,853
3 years$17,836$17,330$16,844$16,375$15,924$15,683
4 years$13,244$12,740$12,258$11,798$11,357$11,123
5 years$10,489$9,988$9,513$9,062$8,634$8,408
6 years$8,653$8,156$7,688$7,247$6,831$6,614
7 years$7,342$6,849$6,389$5,958$5,556$5,346
8 years$6,360$5,871$5,418$4,998$4,609$4,408
9 years$5,596$5,112$4,666$4,257$3,882$3,689
10 years$4,985$4,506$4,068$3,670$3,307$3,122
11 years$4,486$4,011$3,582$3,194$2,844$2,668
12 years$4,070$3,600$3,179$2,801$2,465$2,296
13 years$3,718$3,254$2,840$2,473$2,149$1,988
14 years$3,417$2,958$2,552$2,195$1,884$1,731
15 years$3,156$2,702$2,304$1,958$1,659$1,513
16 years$2,928$2,479$2,089$1,753$1,466$1,327
17 years$2,728$2,283$1,901$1,575$1,300$1,168
18 years$2,549$2,109$1,735$1,420$1,156$1,031
19 years$2,390$1,955$1,588$1,283$1,030$912
20 years$2,247$1,817$1,458$1,162$920$808
21 years$2,117$1,692$1,341$1,054$824$717
22 years$2,000$1,580$1,236$959$738$638
23 years$1,892$1,477$1,141$873$663$568
24 years$1,794$1,384$1,055$796$596$506
25 years$1,704$1,299$977$727$536$452
26 years$1,621$1,221$906$665$483$403
27 years$1,544$1,149$842$609$435$361
28 years$1,473$1,083$783$558$393$323
29 years$1,407$1,021$728$511$355$289
30 years$1,346$965$678$469$320$259
31 years$1,288$912$632$431$290$232
32 years$1,234$863$590$396$262$208
33 years$1,184$817$551$364$237$186
34 years$1,136$774$515$335$215$167
35 years$1,092$735$481$309$194$150
36 years$1,050$697$450$284$176$135
37 years$1,010$662$421$262$160$121
38 years$973$629$395$241$145$109
39 years$937$598$370$222$131$98
40 years$904$569$346$205$119$88
41 years$872$542$325$189$108$79
42 years$842$516$305$175$98$71
43 years$813$492$286$161$89$64
44 years$785$469$268$149$81$57
45 years$759$447$252$138$73$52
46 years$734$426$237$127$67$46
47 years$711$407$222$117$60$42
48 years$688$388$209$108$55$37
49 years$666$371$196$100$50$34
50 years$645$354$185$93$45$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $661,000, adding $6,462 every year, while hoping to spend $44,228 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: 69/6/25 Blend
55$661,000$661,000$661,000$661,000
56$735,088$700,055$689,809$780,692
57$763,008$687,299$665,859$799,321
58$792,294$672,436$639,625$813,997
59$823,039$655,316$610,983$829,021
60$855,342$635,779$579,804$844,427
61$889,313$613,659$545,954$860,253
62$925,071$588,776$509,291$876,541
63$962,746$560,944$469,670$893,340
64$1,002,478$529,962$426,936$910,706
65$1,044,420$495,620$380,928$928,700
66$1,088,742$457,695$331,479$947,393
67$1,135,624$415,953$278,414$966,863
68$1,185,267$370,144$221,550$987,200
69$1,237,888$320,005$160,697$1,008,504
70$1,293,726$265,259$95,654$1,030,887
71$1,353,041$205,612$26,213$1,054,474
72$1,416,118$140,754$0$1,079,408
73$1,483,269$70,357$0$1,118,620
74$1,554,834$0$0$1,167,805
75$1,631,187$0$0$1,220,616
76$1,712,738$0$0$1,282,005
77$1,799,935$0$0$1,347,667
78$1,893,269$0$0$1,417,976
79$1,993,281$0$0$1,493,342
80$2,100,561$0$0$1,574,213
81$2,215,758$0$0$1,661,082
82$2,339,585$0$0$1,754,490
83$2,472,824$0$0$1,855,030
84$2,616,333$0$0$1,963,356
85$2,771,056$0$0$2,080,184
86$2,938,028$0$0$2,206,299
87$3,118,386$0$0$2,342,567
88$3,313,383$0$0$2,489,938
89$3,524,393$0$0$2,649,457
90$3,752,927$0$0$2,822,271
91$4,000,646$0$0$3,009,643
92$4,269,377$0$0$3,212,962
93$4,561,130$0$0$3,433,753
94$4,878,114$0$0$3,673,697
95$5,222,761$0$0$3,934,640
96$5,597,745$0$0$4,218,616
97$6,006,008$0$0$4,527,861
98$6,450,789$0$0$4,864,835
99$6,935,651$0$0$5,232,248
100$7,464,516$0$0$5,633,079