Can I retire at age 56 with 669,000?

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 $669,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$55,245$54,753$54,273$53,805$53,347$52,966
2 years$27,349$26,840$26,346$25,868$25,403$25,020
3 years$18,052$17,540$17,048$16,574$16,117$15,742
4 years$13,404$12,894$12,406$11,940$11,495$11,131
5 years$10,616$10,109$9,628$9,171$8,738$8,387
6 years$8,758$8,255$7,781$7,334$6,914$6,576
7 years$7,431$6,932$6,466$6,030$5,623$5,299
8 years$6,437$5,942$5,484$5,058$4,665$4,354
9 years$5,664$5,174$4,723$4,309$3,929$3,631
10 years$5,045$4,560$4,118$3,714$3,347$3,062
11 years$4,540$4,060$3,625$3,232$2,879$2,607
12 years$4,119$3,644$3,217$2,835$2,495$2,235
13 years$3,763$3,293$2,874$2,503$2,175$1,928
14 years$3,458$2,993$2,583$2,222$1,907$1,672
15 years$3,195$2,734$2,332$1,982$1,679$1,455
16 years$2,964$2,509$2,114$1,774$1,484$1,272
17 years$2,761$2,311$1,924$1,594$1,316$1,115
18 years$2,580$2,135$1,756$1,437$1,170$979
19 years$2,419$1,979$1,608$1,298$1,043$863
20 years$2,274$1,839$1,475$1,176$931$761
21 years$2,143$1,713$1,357$1,067$834$673
22 years$2,024$1,599$1,251$970$747$595
23 years$1,915$1,495$1,155$884$671$528
24 years$1,816$1,401$1,068$806$603$468
25 years$1,725$1,315$989$736$542$416
26 years$1,641$1,236$917$673$489$370
27 years$1,563$1,163$852$616$441$329
28 years$1,491$1,096$792$564$397$293
29 years$1,424$1,034$737$518$359$261
30 years$1,362$976$686$475$324$233
31 years$1,304$923$640$436$293$207
32 years$1,249$873$597$401$265$185
33 years$1,198$827$558$369$240$165
34 years$1,150$784$521$339$217$147
35 years$1,105$743$487$312$197$132
36 years$1,063$706$456$288$178$118
37 years$1,022$670$426$265$162$105
38 years$985$637$399$244$147$94
39 years$949$606$374$225$133$84
40 years$915$576$351$208$121$75
41 years$882$548$329$192$109$67
42 years$852$522$308$177$99$60
43 years$823$498$289$163$90$54
44 years$795$474$272$151$82$48
45 years$768$452$255$139$74$43
46 years$743$432$240$129$67$38
47 years$719$412$225$119$61$34
48 years$696$393$212$110$56$31
49 years$674$375$199$101$50$28
50 years$653$359$187$94$46$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $669,000, adding $5,706 every year, while hoping to spend $24,278 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: 47/44/9 Blend
55$669,000$669,000$669,000$669,000
56$743,124$707,667$697,297$775,956
57$793,091$716,511$694,825$807,988
58$847,341$724,975$691,456$839,739
59$906,285$733,014$687,136$873,638
60$970,376$740,581$681,804$909,893
61$1,040,110$747,626$675,401$948,732
62$1,116,037$754,095$667,863$990,409
63$1,198,758$759,931$659,121$1,035,203
64$1,288,936$765,073$649,107$1,083,423
65$1,387,302$769,455$637,746$1,135,410
66$1,494,658$773,010$624,962$1,191,541
67$1,611,889$775,663$610,674$1,252,233
68$1,739,968$777,336$594,797$1,317,946
69$1,879,966$777,947$577,244$1,389,189
70$2,033,063$777,408$557,923$1,466,524
71$2,200,559$775,624$536,737$1,550,571
72$2,383,883$772,497$513,584$1,642,016
73$2,584,610$767,920$488,361$1,741,616
74$2,804,475$761,783$460,956$1,850,208
75$3,045,388$753,967$431,254$1,968,716
76$3,309,452$744,346$399,135$2,098,160
77$3,598,984$732,786$364,474$2,239,667
78$3,916,534$719,147$327,138$2,394,481
79$4,264,914$703,279$286,991$2,563,975
80$4,647,220$685,023$243,889$2,749,668
81$5,066,859$664,213$197,682$2,953,234
82$5,527,589$640,669$148,215$3,176,521
83$6,033,547$614,206$95,324$3,421,570
84$6,589,290$584,623$38,839$3,690,636
85$7,199,839$551,711$0$3,986,204
86$7,870,724$515,247$0$4,313,079
87$8,608,040$474,996$0$4,676,345
88$9,418,499$430,709$0$5,075,631
89$10,309,497$382,125$0$5,514,645
90$11,289,181$328,964$0$5,997,481
91$12,366,528$270,934$0$6,528,652
92$13,551,429$207,726$0$7,113,137
93$14,854,781$139,010$0$7,756,429
94$16,288,590$64,442$0$8,464,588
95$17,866,083$0$0$9,244,295
96$19,601,837$0$0$10,110,835
97$21,511,910$0$0$11,098,824
98$23,613,997$0$0$12,186,223
99$25,927,595$0$0$13,383,129
100$28,474,187$0$0$14,700,667