Can I retire at age 56 with 670,000?

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 $670,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$55,328$54,835$54,354$53,885$53,427$53,179
2 years$27,390$26,880$26,386$25,906$25,441$25,191
3 years$18,079$17,566$17,073$16,598$16,141$15,897
4 years$13,424$12,913$12,425$11,958$11,512$11,275
5 years$10,632$10,124$9,642$9,185$8,751$8,522
6 years$8,771$8,267$7,792$7,345$6,924$6,704
7 years$7,442$6,943$6,476$6,039$5,631$5,419
8 years$6,446$5,951$5,492$5,066$4,672$4,468
9 years$5,672$5,182$4,730$4,315$3,934$3,739
10 years$5,053$4,567$4,124$3,720$3,352$3,165
11 years$4,547$4,066$3,630$3,237$2,883$2,704
12 years$4,125$3,649$3,222$2,839$2,498$2,327
13 years$3,769$3,298$2,879$2,507$2,179$2,015
14 years$3,464$2,998$2,586$2,225$1,910$1,754
15 years$3,199$2,739$2,335$1,985$1,682$1,533
16 years$2,968$2,513$2,117$1,777$1,486$1,345
17 years$2,765$2,314$1,927$1,597$1,318$1,184
18 years$2,584$2,138$1,759$1,439$1,172$1,045
19 years$2,422$1,982$1,610$1,300$1,044$924
20 years$2,277$1,841$1,478$1,178$933$819
21 years$2,146$1,715$1,359$1,069$835$727
22 years$2,027$1,601$1,253$972$748$646
23 years$1,918$1,497$1,157$885$672$575
24 years$1,819$1,403$1,070$807$604$513
25 years$1,727$1,317$991$737$543$458
26 years$1,643$1,237$919$674$489$409
27 years$1,565$1,165$853$617$441$365
28 years$1,493$1,097$793$565$398$327
29 years$1,426$1,035$738$518$359$293
30 years$1,364$978$688$476$325$262
31 years$1,306$924$641$437$294$235
32 years$1,251$875$598$401$266$211
33 years$1,200$828$558$369$240$189
34 years$1,152$785$522$340$218$169
35 years$1,107$745$488$313$197$152
36 years$1,064$707$456$288$179$137
37 years$1,024$671$427$265$162$123
38 years$986$638$400$245$147$110
39 years$950$607$375$226$133$99
40 years$916$577$351$208$121$89
41 years$884$549$329$192$110$80
42 years$853$523$309$177$99$72
43 years$824$498$290$163$90$65
44 years$796$475$272$151$82$58
45 years$770$453$255$139$74$52
46 years$744$432$240$129$67$47
47 years$720$412$225$119$61$42
48 years$697$394$212$110$56$38
49 years$675$376$199$102$51$34
50 years$654$359$187$94$46$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $670,000, adding $5,225 every year, while hoping to spend $39,545 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: 74/21/5 Blend
55$670,000$670,000$670,000$670,000
56$743,730$708,220$697,835$798,100
57$777,514$700,847$679,136$827,211
58$813,420$691,787$658,487$853,544
59$851,621$680,917$635,778$881,247
60$892,308$668,103$610,898$910,442
61$935,690$653,208$583,730$941,261
62$981,997$636,081$554,152$973,854
63$1,031,480$616,568$522,035$1,008,383
64$1,084,413$594,503$487,246$1,045,030
65$1,141,099$569,709$449,644$1,083,996
66$1,201,869$542,002$409,084$1,125,501
67$1,267,084$511,185$365,414$1,169,791
68$1,337,145$477,051$318,473$1,217,137
69$1,412,487$439,380$268,095$1,267,838
70$1,493,591$397,940$214,107$1,322,226
71$1,580,984$352,486$156,326$1,380,668
72$1,675,246$302,759$94,564$1,443,570
73$1,777,011$248,485$28,623$1,511,378
74$1,886,980$189,374$0$1,584,590
75$2,005,920$125,121$0$1,665,981
76$2,134,676$55,404$0$1,755,703
77$2,274,175$0$0$1,852,911
78$2,425,439$0$0$1,963,006
79$2,589,590$0$0$2,096,399
80$2,767,862$0$0$2,241,292
81$2,961,613$0$0$2,398,793
82$3,172,336$0$0$2,570,119
83$3,401,676$0$0$2,756,610
84$3,651,439$0$0$2,959,739
85$3,923,617$0$0$3,181,129
86$4,220,398$0$0$3,422,565
87$4,544,192$0$0$3,686,012
88$4,897,653$0$0$3,973,633
89$5,283,701$0$0$4,287,807
90$5,705,550$0$0$4,631,157
91$6,166,739$0$0$5,006,567
92$6,671,165$0$0$5,417,214
93$7,223,118$0$0$5,866,596
94$7,827,322$0$0$6,358,566
95$8,488,980$0$0$6,897,364
96$9,213,820$0$0$7,487,662
97$10,008,151$0$0$8,134,603
98$10,878,921$0$0$8,843,854
99$11,833,783$0$0$9,621,652
100$12,881,165$0$0$10,474,871