Can I retire at age 56 with 662,000?

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 $662,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$54,667$54,180$53,705$53,242$52,789$50,754
2 years$27,063$26,559$26,071$25,597$25,138$23,112
3 years$17,863$17,357$16,869$16,400$15,948$13,996
4 years$13,264$12,759$12,277$11,815$11,374$9,510
5 years$10,505$10,003$9,527$9,075$8,647$6,874
6 years$8,666$8,168$7,699$7,258$6,842$5,163
7 years$7,353$6,860$6,398$5,967$5,564$3,979
8 years$6,369$5,880$5,426$5,005$4,616$3,122
9 years$5,604$5,120$4,674$4,264$3,887$2,483
10 years$4,993$4,513$4,075$3,675$3,312$1,994
11 years$4,492$4,017$3,587$3,199$2,849$1,614
12 years$4,076$3,606$3,183$2,806$2,469$1,315
13 years$3,724$3,259$2,844$2,477$2,153$1,076
14 years$3,422$2,962$2,556$2,199$1,887$884
15 years$3,161$2,706$2,307$1,961$1,661$729
16 years$2,933$2,483$2,092$1,756$1,468$602
17 years$2,732$2,286$1,904$1,578$1,302$498
18 years$2,553$2,113$1,738$1,422$1,158$413
19 years$2,393$1,958$1,591$1,285$1,032$343
20 years$2,250$1,819$1,460$1,163$922$285
21 years$2,120$1,695$1,343$1,056$825$237
22 years$2,003$1,582$1,238$960$739$198
23 years$1,895$1,480$1,143$874$664$165
24 years$1,797$1,386$1,057$797$597$137
25 years$1,707$1,301$979$728$537$115
26 years$1,624$1,223$908$666$483$96
27 years$1,547$1,151$843$610$436$80
28 years$1,475$1,084$784$558$393$67
29 years$1,409$1,023$729$512$355$56
30 years$1,348$966$679$470$321$47
31 years$1,290$913$633$432$290$39
32 years$1,236$864$591$397$262$32
33 years$1,186$818$552$365$238$27
34 years$1,138$776$515$336$215$23
35 years$1,093$736$482$309$195$19
36 years$1,051$698$451$285$176$16
37 years$1,012$663$422$262$160$13
38 years$974$630$395$242$145$11
39 years$939$599$370$223$131$9
40 years$905$570$347$206$119$8
41 years$873$543$325$190$108$6
42 years$843$517$305$175$98$5
43 years$814$492$286$162$89$5
44 years$787$469$269$149$81$4
45 years$760$448$252$138$73$3
46 years$735$427$237$127$67$3
47 years$712$408$223$118$61$2
48 years$689$389$209$109$55$2
49 years$667$372$197$100$50$2
50 years$646$355$185$93$45$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $662,000, adding $2,497 every year, while hoping to spend $36,266 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: 36/40/24 Blend
55$662,000$662,000$662,000$662,000
56$732,100$697,014$686,753$753,082
57$768,187$692,581$671,172$764,323
58$806,740$686,715$653,854$772,939
59$847,971$679,308$634,702$781,519
60$892,115$670,245$613,616$790,081
61$939,428$659,403$590,488$798,652
62$990,190$646,655$565,210$807,259
63$1,044,711$631,862$537,666$815,941
64$1,103,329$614,881$507,735$824,741
65$1,166,415$595,557$475,292$833,710
66$1,234,379$573,729$440,203$842,910
67$1,307,668$549,224$402,333$852,413
68$1,386,775$521,861$361,536$862,303
69$1,472,242$491,447$317,663$872,675
70$1,564,662$457,780$270,556$883,643
71$1,664,690$420,644$220,052$895,334
72$1,773,045$379,812$165,981$907,896
73$1,890,517$335,044$108,162$921,498
74$2,017,974$286,085$46,410$936,331
75$2,156,372$232,669$0$952,615
76$2,306,763$174,511$0$975,587
77$2,470,303$111,311$0$1,013,546
78$2,648,264$42,755$0$1,054,965
79$2,842,045$0$0$1,100,260
80$3,053,187$0$0$1,163,754
81$3,283,385$0$0$1,253,582
82$3,534,505$0$0$1,351,663
83$3,808,600$0$0$1,458,809
84$4,107,930$0$0$1,575,917
85$4,434,984$0$0$1,703,972
86$4,792,500$0$0$1,844,058
87$5,183,495$0$0$1,997,372
88$5,611,290$0$0$2,165,227
89$6,079,541$0$0$2,349,074
90$6,592,274$0$0$2,550,507
91$7,153,924$0$0$2,771,284
92$7,769,373$0$0$3,013,340
93$8,443,999$0$0$3,278,807
94$9,183,724$0$0$3,570,031
95$9,995,072$0$0$3,889,599
96$10,885,228$0$0$4,240,359
97$11,862,106$0$0$4,625,447
98$12,934,422$0$0$5,048,321
99$14,111,779$0$0$5,512,787
100$15,404,756$0$0$6,023,040