Can I retire at age 56 with 667,000?

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 $667,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$55,080$54,590$54,111$53,644$53,188$51,423
2 years$27,267$26,760$26,267$25,790$25,327$23,567
3 years$17,998$17,488$16,997$16,524$16,069$14,368
4 years$13,364$12,855$12,369$11,905$11,460$9,831
5 years$10,584$10,079$9,599$9,144$8,712$7,160
6 years$8,732$8,230$7,757$7,312$6,893$5,419
7 years$7,409$6,912$6,447$6,012$5,606$4,209
8 years$6,417$5,924$5,467$5,043$4,651$3,330
9 years$5,647$5,158$4,709$4,296$3,917$2,671
10 years$5,030$4,547$4,105$3,703$3,337$2,165
11 years$4,526$4,048$3,614$3,223$2,870$1,769
12 years$4,107$3,633$3,208$2,827$2,487$1,454
13 years$3,752$3,283$2,866$2,496$2,169$1,201
14 years$3,448$2,984$2,575$2,215$1,901$997
15 years$3,185$2,726$2,325$1,976$1,674$830
16 years$2,955$2,501$2,108$1,769$1,479$692
17 years$2,752$2,304$1,918$1,589$1,312$579
18 years$2,572$2,129$1,751$1,432$1,166$485
19 years$2,412$1,973$1,603$1,294$1,040$407
20 years$2,267$1,833$1,471$1,172$929$342
21 years$2,136$1,708$1,353$1,064$831$288
22 years$2,018$1,594$1,247$967$745$243
23 years$1,910$1,491$1,151$881$669$204
24 years$1,811$1,397$1,065$803$601$172
25 years$1,720$1,311$986$734$541$145
26 years$1,636$1,232$915$671$487$123
27 years$1,558$1,159$849$614$439$104
28 years$1,487$1,093$790$563$396$87
29 years$1,420$1,031$735$516$358$74
30 years$1,358$973$684$474$323$62
31 years$1,300$920$638$435$292$53
32 years$1,245$871$595$400$264$45
33 years$1,194$824$556$368$239$38
34 years$1,147$781$519$338$217$32
35 years$1,102$741$486$311$196$27
36 years$1,059$703$454$287$178$23
37 years$1,019$668$425$264$161$19
38 years$982$635$398$243$146$16
39 years$946$604$373$225$132$14
40 years$912$574$350$207$120$12
41 years$880$547$328$191$109$10
42 years$849$521$308$176$99$8
43 years$820$496$289$163$90$7
44 years$792$473$271$150$81$6
45 years$766$451$254$139$74$5
46 years$741$430$239$128$67$4
47 years$717$411$224$118$61$4
48 years$694$392$211$109$55$3
49 years$672$374$198$101$50$3
50 years$651$358$186$93$46$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $667,000, adding $2,850 every year, while hoping to spend $24,260 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: 25/49/26 Blend
55$667,000$667,000$667,000$667,000
56$737,974$702,623$692,284$750,319
57$787,435$711,239$689,663$769,344
58$841,127$719,464$686,142$787,466
59$899,458$727,253$681,663$806,385
60$962,874$734,560$676,169$826,185
61$1,031,865$741,331$669,599$846,960
62$1,106,973$747,514$661,889$868,812
63$1,188,792$753,051$652,970$891,858
64$1,277,978$757,879$642,774$916,227
65$1,375,251$761,934$631,225$942,066
66$1,481,403$765,145$618,248$969,535
67$1,597,308$767,439$603,761$998,815
68$1,723,926$768,736$587,680$1,030,109
69$1,862,316$768,954$569,916$1,063,640
70$2,013,641$768,002$550,378$1,099,660
71$2,179,185$765,787$528,968$1,138,447
72$2,360,360$762,208$505,586$1,180,311
73$2,558,719$757,159$480,126$1,225,598
74$2,775,976$750,527$452,478$1,274,691
75$3,014,015$742,193$422,526$1,328,019
76$3,274,914$732,029$390,149$1,386,055
77$3,560,958$719,901$355,222$1,449,327
78$3,874,667$705,668$317,613$1,518,419
79$4,218,814$689,177$277,185$1,593,983
80$4,596,457$670,270$233,793$1,676,739
81$5,010,959$648,776$187,289$1,767,487
82$5,466,028$624,518$137,515$1,867,114
83$5,965,750$597,306$84,309$1,976,606
84$6,514,622$566,940$27,498$2,097,052
85$7,117,600$533,207$0$2,229,661
86$7,780,144$495,883$0$2,384,963
87$8,508,270$454,732$0$2,563,989
88$9,308,602$409,503$0$2,760,798
89$10,188,442$359,930$0$2,977,265
90$11,155,831$305,736$0$3,215,463
91$12,219,632$246,623$0$3,477,679
92$13,389,607$182,279$0$3,766,443
93$14,676,511$112,375$0$4,084,547
94$16,092,196$36,563$0$4,435,077
95$17,649,720$0$0$4,821,441
96$19,363,469$0$0$5,271,950
97$21,249,295$0$0$5,789,521
98$23,324,664$0$0$6,359,248
99$25,608,820$0$0$6,986,432
100$28,122,969$0$0$7,676,913