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%19.7%
1 years$55,245$54,753$54,273$53,805$53,347$51,271
2 years$27,349$26,840$26,346$25,868$25,403$23,337
3 years$18,052$17,540$17,048$16,574$16,117$14,125
4 years$13,404$12,894$12,406$11,940$11,495$9,593
5 years$10,616$10,109$9,628$9,171$8,738$6,931
6 years$8,758$8,255$7,781$7,334$6,914$5,202
7 years$7,431$6,932$6,466$6,030$5,623$4,007
8 years$6,437$5,942$5,484$5,058$4,665$3,142
9 years$5,664$5,174$4,723$4,309$3,929$2,497
10 years$5,045$4,560$4,118$3,714$3,347$2,005
11 years$4,540$4,060$3,625$3,232$2,879$1,622
12 years$4,119$3,644$3,217$2,835$2,495$1,320
13 years$3,763$3,293$2,874$2,503$2,175$1,079
14 years$3,458$2,993$2,583$2,222$1,907$886
15 years$3,195$2,734$2,332$1,982$1,679$730
16 years$2,964$2,509$2,114$1,774$1,484$603
17 years$2,761$2,311$1,924$1,594$1,316$498
18 years$2,580$2,135$1,756$1,437$1,170$413
19 years$2,419$1,979$1,608$1,298$1,043$343
20 years$2,274$1,839$1,475$1,176$931$285
21 years$2,143$1,713$1,357$1,067$834$237
22 years$2,024$1,599$1,251$970$747$197
23 years$1,915$1,495$1,155$884$671$164
24 years$1,816$1,401$1,068$806$603$137
25 years$1,725$1,315$989$736$542$114
26 years$1,641$1,236$917$673$489$95
27 years$1,563$1,163$852$616$441$79
28 years$1,491$1,096$792$564$397$66
29 years$1,424$1,034$737$518$359$55
30 years$1,362$976$686$475$324$46
31 years$1,304$923$640$436$293$38
32 years$1,249$873$597$401$265$32
33 years$1,198$827$558$369$240$27
34 years$1,150$784$521$339$217$22
35 years$1,105$743$487$312$197$19
36 years$1,063$706$456$288$178$16
37 years$1,022$670$426$265$162$13
38 years$985$637$399$244$147$11
39 years$949$606$374$225$133$9
40 years$915$576$351$208$121$8
41 years$882$548$329$192$109$6
42 years$852$522$308$177$99$5
43 years$823$498$289$163$90$4
44 years$795$474$272$151$82$4
45 years$768$452$255$139$74$3
46 years$743$432$240$129$67$3
47 years$719$412$225$119$61$2
48 years$696$393$212$110$56$2
49 years$674$375$199$101$50$2
50 years$653$359$187$94$46$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $669,000, adding $4,862 every year, while hoping to spend $43,233 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: 70/11/19 Blend
55$669,000$669,000$669,000$669,000
56$742,253$706,796$696,427$790,468
57$771,963$695,430$673,757$811,866
58$803,255$682,057$648,880$829,696
59$836,244$666,535$621,674$848,135
60$871,056$648,710$592,015$867,236
61$907,828$628,422$559,772$887,062
62$946,711$605,499$524,809$907,683
63$987,868$579,761$486,983$929,174
64$1,031,478$551,016$446,144$951,623
65$1,077,736$519,062$402,136$975,128
66$1,126,854$483,686$354,798$999,794
67$1,179,068$444,661$303,958$1,025,745
68$1,234,631$401,748$249,439$1,053,113
69$1,293,823$354,694$191,055$1,082,050
70$1,356,951$303,232$128,613$1,112,722
71$1,424,350$247,079$61,911$1,145,316
72$1,496,386$185,939$0$1,180,040
73$1,573,463$119,495$0$1,219,004
74$1,656,021$47,416$0$1,274,103
75$1,744,546$0$0$1,333,105
76$1,839,568$0$0$1,400,086
77$1,941,670$0$0$1,478,251
78$2,051,492$0$0$1,562,352
79$2,169,736$0$0$1,652,930
80$2,297,175$0$0$1,750,581
81$2,434,656$0$0$1,855,958
82$2,583,109$0$0$1,969,778
83$2,743,559$0$0$2,092,829
84$2,917,129$0$0$2,225,979
85$3,105,055$0$0$2,370,180
86$3,308,697$0$0$2,526,480
87$3,529,549$0$0$2,696,031
88$3,769,253$0$0$2,880,099
89$4,029,618$0$0$3,080,078
90$4,312,630$0$0$3,297,500
91$4,620,478$0$0$3,534,052
92$4,955,567$0$0$3,791,589
93$5,320,544$0$0$4,072,152
94$5,718,324$0$0$4,377,988
95$6,152,113$0$0$4,711,569
96$6,625,439$0$0$5,075,616
97$7,142,188$0$0$5,473,126
98$7,706,635$0$0$5,907,395
99$8,323,488$0$0$6,382,054
100$8,997,929$0$0$6,901,099