Can I retire at age 56 with 666,000?

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 $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%11%
1 years$54,998$54,508$54,030$53,563$53,108$52,884
2 years$27,227$26,719$26,228$25,752$25,289$25,064
3 years$17,971$17,461$16,971$16,499$16,045$15,824
4 years$13,344$12,836$12,351$11,887$11,443$11,229
5 years$10,568$10,064$9,585$9,130$8,699$8,492
6 years$8,719$8,218$7,746$7,302$6,883$6,683
7 years$7,398$6,901$6,437$6,003$5,598$5,406
8 years$6,408$5,916$5,459$5,036$4,644$4,459
9 years$5,638$5,151$4,702$4,289$3,911$3,734
10 years$5,023$4,540$4,099$3,697$3,332$3,163
11 years$4,520$4,042$3,609$3,218$2,866$2,703
12 years$4,101$3,628$3,203$2,823$2,483$2,328
13 years$3,746$3,278$2,861$2,492$2,166$2,018
14 years$3,443$2,980$2,571$2,212$1,898$1,757
15 years$3,180$2,722$2,321$1,973$1,672$1,537
16 years$2,951$2,498$2,105$1,766$1,477$1,349
17 years$2,748$2,300$1,915$1,587$1,310$1,188
18 years$2,569$2,125$1,748$1,430$1,165$1,049
19 years$2,408$1,970$1,600$1,292$1,038$929
20 years$2,264$1,830$1,469$1,170$927$824
21 years$2,133$1,705$1,351$1,062$830$732
22 years$2,015$1,592$1,245$966$744$651
23 years$1,907$1,489$1,150$880$668$580
24 years$1,808$1,395$1,063$802$600$518
25 years$1,717$1,309$985$733$540$462
26 years$1,633$1,230$913$670$486$413
27 years$1,556$1,158$848$613$439$370
28 years$1,484$1,091$788$562$396$331
29 years$1,418$1,029$734$515$357$296
30 years$1,356$972$683$473$323$266
31 years$1,298$919$637$434$292$238
32 years$1,244$869$594$399$264$214
33 years$1,193$823$555$367$239$192
34 years$1,145$780$519$338$216$172
35 years$1,100$740$485$311$196$155
36 years$1,058$702$454$286$178$139
37 years$1,018$667$425$264$161$125
38 years$980$634$398$243$146$112
39 years$944$603$372$224$132$101
40 years$911$574$349$207$120$91
41 years$878$546$327$191$109$82
42 years$848$520$307$176$99$74
43 years$819$495$288$163$90$66
44 years$791$472$270$150$81$60
45 years$765$450$254$139$74$54
46 years$740$430$239$128$67$48
47 years$716$410$224$118$61$43
48 years$693$391$211$109$55$39
49 years$671$374$198$101$50$35
50 years$650$357$186$93$46$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $666,000, adding $6,338 every year, while hoping to spend $30,612 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: 64/12/24 Blend
55$666,000$666,000$666,000$666,000
56$740,470$705,172$694,849$782,838
57$783,427$707,154$685,555$814,176
58$829,739$708,208$674,924$844,417
59$879,717$708,255$662,879$876,767
60$933,702$707,212$649,339$911,438
61$992,066$704,993$634,219$948,661
62$1,055,223$701,503$617,431$988,693
63$1,123,623$696,644$598,882$1,031,816
64$1,197,764$690,312$578,476$1,078,346
65$1,278,193$682,394$556,112$1,128,628
66$1,365,511$672,773$531,684$1,183,045
67$1,460,379$661,325$505,081$1,242,022
68$1,563,524$647,916$476,188$1,306,024
69$1,675,747$632,408$444,884$1,375,570
70$1,797,928$614,651$411,043$1,451,231
71$1,931,037$594,488$374,532$1,533,637
72$2,076,138$571,754$335,215$1,623,485
73$2,234,406$546,272$292,946$1,721,546
74$2,407,132$517,856$247,577$1,828,669
75$2,595,738$486,309$198,949$1,945,794
76$2,801,789$451,424$146,899$2,073,958
77$3,027,008$412,980$91,256$2,214,306
78$3,273,291$370,744$31,842$2,368,101
79$3,542,727$324,471$0$2,536,741
80$3,837,615$273,900$0$2,729,849
81$4,160,489$218,758$0$2,950,270
82$4,514,135$158,754$0$3,191,773
83$4,901,626$93,582$0$3,456,482
84$5,326,343$22,919$0$3,746,744
85$5,792,011$0$0$4,065,140
86$6,302,732$0$0$4,421,595
87$6,863,025$0$0$4,816,015
88$7,477,866$0$0$5,248,883
89$8,152,737$0$0$5,724,065
90$8,893,678$0$0$6,245,820
91$9,707,339$0$0$6,818,837
92$10,601,048$0$0$7,448,285
93$11,582,878$0$0$8,139,854
94$12,661,721$0$0$8,899,817
95$13,847,374$0$0$9,735,082
96$15,150,629$0$0$10,653,259
97$16,583,378$0$0$11,662,734
98$18,158,719$0$0$12,772,746
99$19,891,086$0$0$13,993,471
100$21,796,380$0$0$15,336,124