Can I retire at age 56 with 668,000?

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 $668,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$55,163$54,671$54,192$53,724$53,267$51,686
2 years$27,308$26,800$26,307$25,829$25,365$23,786
3 years$18,025$17,514$17,022$16,549$16,093$14,564
4 years$13,384$12,875$12,388$11,923$11,478$10,011
5 years$10,600$10,094$9,613$9,158$8,725$7,325
6 years$8,745$8,242$7,769$7,323$6,904$5,572
7 years$7,420$6,922$6,456$6,021$5,615$4,350
8 years$6,427$5,933$5,475$5,051$4,658$3,460
9 years$5,655$5,166$4,716$4,302$3,923$2,791
10 years$5,038$4,554$4,111$3,709$3,342$2,274
11 years$4,533$4,054$3,620$3,228$2,874$1,869
12 years$4,113$3,639$3,212$2,831$2,491$1,546
13 years$3,758$3,288$2,870$2,499$2,172$1,285
14 years$3,453$2,989$2,579$2,219$1,904$1,073
15 years$3,190$2,730$2,328$1,979$1,677$899
16 years$2,959$2,505$2,111$1,772$1,482$755
17 years$2,756$2,307$1,921$1,592$1,314$636
18 years$2,576$2,132$1,753$1,435$1,168$536
19 years$2,415$1,976$1,605$1,296$1,041$453
20 years$2,270$1,836$1,473$1,174$930$383
21 years$2,139$1,710$1,355$1,065$832$325
22 years$2,021$1,596$1,249$969$746$275
23 years$1,912$1,493$1,153$882$670$234
24 years$1,813$1,399$1,066$805$602$199
25 years$1,722$1,313$988$735$542$169
26 years$1,638$1,234$916$672$488$143
27 years$1,561$1,161$851$615$440$122
28 years$1,489$1,094$791$564$397$104
29 years$1,422$1,032$736$517$358$88
30 years$1,360$975$685$474$324$75
31 years$1,302$922$639$436$293$64
32 years$1,247$872$596$400$265$55
33 years$1,196$826$557$368$240$46
34 years$1,148$783$520$339$217$40
35 years$1,103$742$486$312$197$34
36 years$1,061$705$455$287$178$29
37 years$1,021$669$426$265$161$24
38 years$983$636$399$244$146$21
39 years$947$605$374$225$133$18
40 years$913$575$350$207$120$15
41 years$881$548$328$191$109$13
42 years$850$522$308$177$99$11
43 years$821$497$289$163$90$9
44 years$794$474$271$151$82$8
45 years$767$452$255$139$74$7
46 years$742$431$239$128$67$6
47 years$718$411$225$119$61$5
48 years$695$393$211$110$55$4
49 years$673$375$199$101$50$4
50 years$652$358$187$94$46$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $668,000, adding $4,658 every year, while hoping to spend $49,080 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: 65/21/14 Blend
55$668,000$668,000$668,000$668,000
56$740,941$705,537$695,183$786,354
57$764,296$687,887$666,251$799,644
58$788,388$667,728$634,704$808,030
59$813,242$644,884$600,404$815,975
60$838,880$619,171$563,205$823,435
61$865,327$590,392$522,955$830,363
62$892,610$558,341$479,493$836,708
63$920,756$522,799$432,655$842,418
64$949,790$483,533$382,267$847,436
65$979,742$440,300$328,146$851,702
66$1,010,642$392,841$270,105$855,154
67$1,042,518$340,881$207,944$857,724
68$1,075,403$284,132$141,458$859,340
69$1,109,328$222,288$70,431$859,928
70$1,144,327$155,028$0$859,409
71$1,180,434$82,010$0$858,499
72$1,217,684$2,875$0$867,588
73$1,256,115$0$0$876,086
74$1,295,764$0$0$903,055
75$1,336,670$0$0$931,566
76$1,378,874$0$0$960,981
77$1,422,417$0$0$991,329
78$1,467,343$0$0$1,022,642
79$1,513,696$0$0$1,054,950
80$1,561,523$0$0$1,088,285
81$1,610,871$0$0$1,122,681
82$1,661,790$0$0$1,158,172
83$1,714,331$0$0$1,194,794
84$1,768,547$0$0$1,232,583
85$1,824,493$0$0$1,271,579
86$1,882,225$0$0$1,311,820
87$1,941,802$0$0$1,353,348
88$2,003,286$0$0$1,396,206
89$2,066,738$0$0$1,440,436
90$2,132,224$0$0$1,486,085
91$2,199,813$0$0$1,533,200
92$2,269,573$0$0$1,581,830
93$2,341,579$0$0$1,632,026
94$2,415,906$0$0$1,683,840
95$2,492,631$0$0$1,737,329
96$2,571,837$0$0$1,792,547
97$2,653,608$0$0$1,849,556
98$2,738,033$0$0$1,908,416
99$2,825,202$0$0$1,969,190
100$2,915,211$0$0$2,031,947