Can I retire at age 56 with 666,000?

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 $666,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$54,998$54,508$54,030$53,563$53,108$52,142
2 years$27,227$26,719$26,228$25,752$25,289$24,320
3 years$17,971$17,461$16,971$16,499$16,045$15,102
4 years$13,344$12,836$12,351$11,887$11,443$10,534
5 years$10,568$10,064$9,585$9,130$8,699$7,826
6 years$8,719$8,218$7,746$7,302$6,883$6,047
7 years$7,398$6,901$6,437$6,003$5,598$4,800
8 years$6,408$5,916$5,459$5,036$4,644$3,883
9 years$5,638$5,151$4,702$4,289$3,911$3,187
10 years$5,023$4,540$4,099$3,697$3,332$2,644
11 years$4,520$4,042$3,609$3,218$2,866$2,213
12 years$4,101$3,628$3,203$2,823$2,483$1,866
13 years$3,746$3,278$2,861$2,492$2,166$1,581
14 years$3,443$2,980$2,571$2,212$1,898$1,347
15 years$3,180$2,722$2,321$1,973$1,672$1,151
16 years$2,951$2,498$2,105$1,766$1,477$987
17 years$2,748$2,300$1,915$1,587$1,310$849
18 years$2,569$2,125$1,748$1,430$1,165$732
19 years$2,408$1,970$1,600$1,292$1,038$632
20 years$2,264$1,830$1,469$1,170$927$546
21 years$2,133$1,705$1,351$1,062$830$473
22 years$2,015$1,592$1,245$966$744$410
23 years$1,907$1,489$1,150$880$668$356
24 years$1,808$1,395$1,063$802$600$310
25 years$1,717$1,309$985$733$540$269
26 years$1,633$1,230$913$670$486$234
27 years$1,556$1,158$848$613$439$204
28 years$1,484$1,091$788$562$396$178
29 years$1,418$1,029$734$515$357$155
30 years$1,356$972$683$473$323$135
31 years$1,298$919$637$434$292$118
32 years$1,244$869$594$399$264$103
33 years$1,193$823$555$367$239$90
34 years$1,145$780$519$338$216$78
35 years$1,100$740$485$311$196$68
36 years$1,058$702$454$286$178$60
37 years$1,018$667$425$264$161$52
38 years$980$634$398$243$146$45
39 years$944$603$372$224$132$40
40 years$911$574$349$207$120$35
41 years$878$546$327$191$109$30
42 years$848$520$307$176$99$26
43 years$819$495$288$163$90$23
44 years$791$472$270$150$81$20
45 years$765$450$254$139$74$18
46 years$740$430$239$128$67$15
47 years$716$410$224$118$61$13
48 years$693$391$211$109$55$12
49 years$671$374$198$101$50$10
50 years$650$357$186$93$46$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $666,000, adding $2,886 every year, while hoping to spend $48,410 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: 82/7/11 Blend
55$666,000$666,000$666,000$666,000
56$736,909$701,611$691,288$795,739
57$760,566$684,482$662,938$817,580
58$785,013$664,891$632,016$834,865
59$810,280$642,667$598,385$852,394
60$836,399$617,627$561,900$870,166
61$863,400$589,580$522,413$888,179
62$891,320$558,322$479,766$906,430
63$920,192$523,637$433,796$924,919
64$950,054$485,298$384,331$943,643
65$980,947$443,065$331,194$962,600
66$1,012,912$396,683$274,197$981,788
67$1,045,992$345,884$213,145$1,001,204
68$1,080,234$290,383$147,836$1,020,847
69$1,115,686$229,880$78,057$1,040,715
70$1,152,400$164,058$3,586$1,060,805
71$1,190,431$92,583$0$1,081,118
72$1,229,836$15,102$0$1,110,558
73$1,270,678$0$0$1,141,246
74$1,313,020$0$0$1,178,088
75$1,356,932$0$0$1,217,504
76$1,402,487$0$0$1,258,396
77$1,449,765$0$0$1,300,836
78$1,498,847$0$0$1,344,899
79$1,549,824$0$0$1,390,664
80$1,602,791$0$0$1,438,217
81$1,657,849$0$0$1,487,651
82$1,715,108$0$0$1,539,063
83$1,774,684$0$0$1,592,559
84$1,836,703$0$0$1,648,252
85$1,901,300$0$0$1,706,263
86$1,968,618$0$0$1,766,722
87$2,038,815$0$0$1,829,770
88$2,112,058$0$0$1,895,559
89$2,188,528$0$0$1,964,252
90$2,268,421$0$0$2,036,024
91$2,351,948$0$0$2,111,068
92$2,439,338$0$0$2,189,587
93$2,530,837$0$0$2,271,806
94$2,626,713$0$0$2,357,967
95$2,727,257$0$0$2,448,330
96$2,832,785$0$0$2,543,181
97$2,943,638$0$0$2,642,828
98$3,060,187$0$0$2,747,606
99$3,182,839$0$0$2,857,881
100$3,312,032$0$0$2,974,050