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%13.4%
1 years$55,245$54,753$54,273$53,805$53,347$52,593
2 years$27,349$26,840$26,346$25,868$25,403$24,645
3 years$18,052$17,540$17,048$16,574$16,117$15,378
4 years$13,404$12,894$12,406$11,940$11,495$10,781
5 years$10,616$10,109$9,628$9,171$8,738$8,052
6 years$8,758$8,255$7,781$7,334$6,914$6,256
7 years$7,431$6,932$6,466$6,030$5,623$4,993
8 years$6,437$5,942$5,484$5,058$4,665$4,063
9 years$5,664$5,174$4,723$4,309$3,929$3,354
10 years$5,045$4,560$4,118$3,714$3,347$2,800
11 years$4,540$4,060$3,625$3,232$2,879$2,359
12 years$4,119$3,644$3,217$2,835$2,495$2,001
13 years$3,763$3,293$2,874$2,503$2,175$1,707
14 years$3,458$2,993$2,583$2,222$1,907$1,464
15 years$3,195$2,734$2,332$1,982$1,679$1,260
16 years$2,964$2,509$2,114$1,774$1,484$1,088
17 years$2,761$2,311$1,924$1,594$1,316$942
18 years$2,580$2,135$1,756$1,437$1,170$818
19 years$2,419$1,979$1,608$1,298$1,043$711
20 years$2,274$1,839$1,475$1,176$931$620
21 years$2,143$1,713$1,357$1,067$834$541
22 years$2,024$1,599$1,251$970$747$473
23 years$1,915$1,495$1,155$884$671$414
24 years$1,816$1,401$1,068$806$603$362
25 years$1,725$1,315$989$736$542$318
26 years$1,641$1,236$917$673$489$279
27 years$1,563$1,163$852$616$441$245
28 years$1,491$1,096$792$564$397$215
29 years$1,424$1,034$737$518$359$189
30 years$1,362$976$686$475$324$166
31 years$1,304$923$640$436$293$146
32 years$1,249$873$597$401$265$128
33 years$1,198$827$558$369$240$113
34 years$1,150$784$521$339$217$99
35 years$1,105$743$487$312$197$87
36 years$1,063$706$456$288$178$77
37 years$1,022$670$426$265$162$68
38 years$985$637$399$244$147$60
39 years$949$606$374$225$133$53
40 years$915$576$351$208$121$46
41 years$882$548$329$192$109$41
42 years$852$522$308$177$99$36
43 years$823$498$289$163$90$32
44 years$795$474$272$151$82$28
45 years$768$452$255$139$74$25
46 years$743$432$240$129$67$22
47 years$719$412$225$119$61$19
48 years$696$393$212$110$56$17
49 years$674$375$199$101$50$15
50 years$653$359$187$94$46$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $669,000, adding $5,110 every year, while hoping to spend $41,197 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: 66/28/6 Blend
55$669,000$669,000$669,000$669,000
56$742,509$707,052$696,682$790,480
57$774,412$697,864$676,188$813,792
58$808,188$686,846$653,626$833,838
59$843,984$673,863$628,885$854,644
60$881,963$658,775$601,845$876,281
61$922,301$641,432$572,384$898,824
62$965,190$621,676$540,373$922,360
63$1,010,841$599,340$505,677$946,985
64$1,059,485$574,246$468,156$972,806
65$1,111,376$546,207$427,662$999,943
66$1,166,790$515,025$384,042$1,028,529
67$1,226,030$480,489$337,136$1,058,716
68$1,289,431$442,379$286,775$1,090,668
69$1,357,356$400,459$232,786$1,124,572
70$1,430,206$354,481$174,984$1,160,635
71$1,508,421$304,184$113,179$1,199,088
72$1,592,482$249,291$47,173$1,240,188
73$1,682,919$189,510$0$1,284,221
74$1,780,312$124,532$0$1,332,996
75$1,885,300$54,030$0$1,388,698
76$1,998,584$0$0$1,448,711
77$2,120,933$0$0$1,520,372
78$2,253,195$0$0$1,615,869
79$2,396,299$0$0$1,719,229
80$2,551,269$0$0$1,831,197
81$2,719,227$0$0$1,952,588
82$2,901,411$0$0$2,084,301
83$3,099,179$0$0$2,227,324
84$3,314,027$0$0$2,382,744
85$3,547,599$0$0$2,551,756
86$3,801,706$0$0$2,735,676
87$4,078,337$0$0$2,935,950
88$4,379,684$0$0$3,154,170
89$4,708,156$0$0$3,392,090
90$5,066,408$0$0$3,651,638
91$5,457,359$0$0$3,934,937
92$5,884,224$0$0$4,244,324
93$6,350,541$0$0$4,582,371
94$6,860,205$0$0$4,951,910
95$7,417,505$0$0$5,356,059
96$8,027,163$0$0$5,798,252
97$8,694,377$0$0$6,282,268
98$9,424,874$0$0$6,812,271
99$10,224,956$0$0$7,392,844
100$11,101,568$0$0$8,029,037