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%18.5%
1 years$55,328$54,835$54,354$53,885$53,427$51,593
2 years$27,390$26,880$26,386$25,906$25,441$23,612
3 years$18,079$17,566$17,073$16,598$16,141$14,374
4 years$13,424$12,913$12,425$11,958$11,512$9,821
5 years$10,632$10,124$9,642$9,185$8,751$7,141
6 years$8,771$8,267$7,792$7,345$6,924$5,396
7 years$7,442$6,943$6,476$6,039$5,631$4,184
8 years$6,446$5,951$5,492$5,066$4,672$3,305
9 years$5,672$5,182$4,730$4,315$3,934$2,646
10 years$5,053$4,567$4,124$3,720$3,352$2,140
11 years$4,547$4,066$3,630$3,237$2,883$1,745
12 years$4,125$3,649$3,222$2,839$2,498$1,432
13 years$3,769$3,298$2,879$2,507$2,179$1,180
14 years$3,464$2,998$2,586$2,225$1,910$977
15 years$3,199$2,739$2,335$1,985$1,682$812
16 years$2,968$2,513$2,117$1,777$1,486$676
17 years$2,765$2,314$1,927$1,597$1,318$564
18 years$2,584$2,138$1,759$1,439$1,172$472
19 years$2,422$1,982$1,610$1,300$1,044$395
20 years$2,277$1,841$1,478$1,178$933$331
21 years$2,146$1,715$1,359$1,069$835$278
22 years$2,027$1,601$1,253$972$748$234
23 years$1,918$1,497$1,157$885$672$196
24 years$1,819$1,403$1,070$807$604$165
25 years$1,727$1,317$991$737$543$139
26 years$1,643$1,237$919$674$489$117
27 years$1,565$1,165$853$617$441$99
28 years$1,493$1,097$793$565$398$83
29 years$1,426$1,035$738$518$359$70
30 years$1,364$978$688$476$325$59
31 years$1,306$924$641$437$294$50
32 years$1,251$875$598$401$266$42
33 years$1,200$828$558$369$240$35
34 years$1,152$785$522$340$218$30
35 years$1,107$745$488$313$197$25
36 years$1,064$707$456$288$179$21
37 years$1,024$671$427$265$162$18
38 years$986$638$400$245$147$15
39 years$950$607$375$226$133$13
40 years$916$577$351$208$121$11
41 years$884$549$329$192$110$9
42 years$853$523$309$177$99$8
43 years$824$498$290$163$90$6
44 years$796$475$272$151$82$5
45 years$770$453$255$139$74$5
46 years$744$432$240$129$67$4
47 years$720$412$225$119$61$3
48 years$697$394$212$110$56$3
49 years$675$376$199$102$51$2
50 years$654$359$187$94$46$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $670,000, adding $5,492 every year, while hoping to spend $21,047 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: 47/46/7 Blend
55$670,000$670,000$670,000$670,000
56$744,005$708,495$698,110$777,319
57$797,500$720,817$699,103$813,088
58$855,745$733,038$699,424$849,227
59$919,205$745,130$699,027$887,954
60$988,386$757,064$697,867$929,515
61$1,063,850$768,809$695,894$974,182
62$1,146,212$780,330$693,057$1,022,253
63$1,236,152$791,592$689,300$1,074,059
64$1,334,416$802,557$684,568$1,129,964
65$1,441,826$813,182$678,801$1,190,370
66$1,559,288$823,424$671,937$1,255,720
67$1,687,799$833,235$663,910$1,326,502
68$1,828,456$842,565$654,652$1,403,257
69$1,982,468$851,360$644,093$1,486,578
70$2,151,166$859,562$632,155$1,577,122
71$2,336,015$867,111$618,763$1,675,613
72$2,538,629$873,941$603,832$1,782,850
73$2,760,787$879,982$587,279$1,899,714
74$3,004,447$885,160$569,012$2,027,177
75$3,271,765$889,397$548,938$2,166,310
76$3,565,116$892,609$526,959$2,318,298
77$3,887,117$894,707$502,972$2,484,445
78$4,240,652$895,595$476,869$2,666,191
79$4,628,893$895,174$448,539$2,865,122
80$5,055,340$893,338$417,865$3,082,992
81$5,523,844$889,971$384,723$3,321,732
82$6,038,651$884,955$348,987$3,583,474
83$6,604,437$878,161$310,521$3,870,567
84$7,226,353$869,454$269,187$4,185,606
85$7,910,075$858,691$224,838$4,531,449
86$8,661,855$845,719$177,323$4,911,252
87$9,488,583$830,378$126,482$5,328,493
88$10,397,848$812,497$72,149$5,787,009
89$11,398,014$791,894$14,151$6,291,032
90$12,498,294$768,379$0$6,845,228
91$13,708,839$741,749$0$7,458,310
92$15,040,834$711,789$0$8,133,748
93$16,506,605$678,272$0$8,876,757
94$18,119,730$640,958$0$9,694,255
95$19,895,171$599,594$0$10,593,868
96$21,849,415$553,911$0$11,584,006
97$24,000,627$503,624$0$12,673,941
98$26,368,824$448,435$0$13,873,895
99$28,976,061$388,025$0$15,195,139
100$31,846,642$322,061$0$16,650,098