Can I retire at age 56 with 661,000?

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 $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%13.2%
1 years$54,585$54,099$53,624$53,161$52,709$52,007
2 years$27,022$26,519$26,031$25,558$25,100$24,394
3 years$17,836$17,330$16,844$16,375$15,924$15,236
4 years$13,244$12,740$12,258$11,798$11,357$10,692
5 years$10,489$9,988$9,513$9,062$8,634$7,994
6 years$8,653$8,156$7,688$7,247$6,831$6,217
7 years$7,342$6,849$6,389$5,958$5,556$4,968
8 years$6,360$5,871$5,418$4,998$4,609$4,047
9 years$5,596$5,112$4,666$4,257$3,882$3,345
10 years$4,985$4,506$4,068$3,670$3,307$2,796
11 years$4,486$4,011$3,582$3,194$2,844$2,358
12 years$4,070$3,600$3,179$2,801$2,465$2,003
13 years$3,718$3,254$2,840$2,473$2,149$1,711
14 years$3,417$2,958$2,552$2,195$1,884$1,469
15 years$3,156$2,702$2,304$1,958$1,659$1,266
16 years$2,928$2,479$2,089$1,753$1,466$1,095
17 years$2,728$2,283$1,901$1,575$1,300$950
18 years$2,549$2,109$1,735$1,420$1,156$825
19 years$2,390$1,955$1,588$1,283$1,030$719
20 years$2,247$1,817$1,458$1,162$920$628
21 years$2,117$1,692$1,341$1,054$824$549
22 years$2,000$1,580$1,236$959$738$480
23 years$1,892$1,477$1,141$873$663$421
24 years$1,794$1,384$1,055$796$596$369
25 years$1,704$1,299$977$727$536$324
26 years$1,621$1,221$906$665$483$285
27 years$1,544$1,149$842$609$435$250
28 years$1,473$1,083$783$558$393$220
29 years$1,407$1,021$728$511$355$194
30 years$1,346$965$678$469$320$171
31 years$1,288$912$632$431$290$150
32 years$1,234$863$590$396$262$132
33 years$1,184$817$551$364$237$117
34 years$1,136$774$515$335$215$103
35 years$1,092$735$481$309$194$91
36 years$1,050$697$450$284$176$80
37 years$1,010$662$421$262$160$71
38 years$973$629$395$241$145$62
39 years$937$598$370$222$131$55
40 years$904$569$346$205$119$49
41 years$872$542$325$189$108$43
42 years$842$516$305$175$98$38
43 years$813$492$286$161$89$33
44 years$785$469$268$149$81$29
45 years$759$447$252$138$73$26
46 years$734$426$237$127$67$23
47 years$711$407$222$117$60$20
48 years$688$388$209$108$55$18
49 years$666$371$196$100$50$16
50 years$645$354$185$93$45$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $661,000, adding $4,968 every year, while hoping to spend $32,453 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: 30/43/27 Blend
55$661,000$661,000$661,000$661,000
56$733,546$698,513$688,268$749,336
57$773,838$698,211$676,795$761,726
58$817,153$696,806$663,850$771,866
59$863,763$694,210$649,350$782,126
60$913,970$690,330$633,207$792,539
61$968,104$685,065$615,329$803,145
62$1,026,529$678,312$595,620$813,990
63$1,089,643$669,957$573,982$825,126
64$1,157,885$659,883$550,308$836,616
65$1,231,736$647,964$524,490$848,532
66$1,311,725$634,067$496,413$860,958
67$1,398,436$618,050$465,957$873,989
68$1,492,508$599,766$432,999$887,735
69$1,594,645$579,057$397,406$902,321
70$1,705,623$555,754$359,042$917,889
71$1,826,292$529,681$317,766$934,603
72$1,957,590$500,652$273,427$952,645
73$2,100,549$468,469$225,872$972,226
74$2,256,303$432,922$174,937$993,579
75$2,426,101$393,790$120,452$1,016,972
76$2,611,318$350,841$62,242$1,042,703
77$2,813,466$303,825$120$1,071,110
78$3,034,211$252,484$0$1,102,573
79$3,275,385$196,541$0$1,156,581
80$3,539,008$135,704$0$1,215,823
81$3,827,300$69,667$0$1,280,860
82$4,142,708$0$0$1,352,355
83$4,487,926$0$0$1,431,938
84$4,865,920$0$0$1,555,272
85$5,279,957$0$0$1,690,471
86$5,733,634$0$0$1,838,721
87$6,230,912$0$0$2,001,331
88$6,776,154$0$0$2,179,742
89$7,374,166$0$0$2,375,541
90$8,030,241$0$0$2,590,475
91$8,750,209$0$0$2,826,470
92$9,540,491$0$0$3,085,648
93$10,408,161$0$0$3,370,344
94$11,361,012$0$0$3,683,132
95$12,407,628$0$0$4,026,850
96$13,557,463$0$0$4,404,619
97$14,820,936$0$0$4,819,883
98$16,209,522$0$0$5,276,432
99$17,735,865$0$0$5,778,444
100$19,413,893$0$0$6,330,522