Can I retire at age 56 with 675,000?

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 $675,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$55,741$55,244$54,760$54,287$53,825$52,546
2 years$27,594$27,081$26,582$26,100$25,631$24,349
3 years$18,214$17,697$17,201$16,722$16,261$15,017
4 years$13,524$13,009$12,518$12,047$11,598$10,401
5 years$10,711$10,200$9,714$9,254$8,816$7,671
6 years$8,836$8,329$7,851$7,400$6,976$5,883
7 years$7,498$6,994$6,524$6,084$5,673$4,632
8 years$6,494$5,996$5,533$5,104$4,707$3,717
9 years$5,714$5,220$4,765$4,347$3,964$3,025
10 years$5,091$4,601$4,155$3,747$3,377$2,489
11 years$4,581$4,096$3,658$3,261$2,905$2,065
12 years$4,156$3,677$3,246$2,861$2,517$1,724
13 years$3,797$3,323$2,900$2,526$2,195$1,448
14 years$3,489$3,020$2,606$2,242$1,924$1,221
15 years$3,223$2,759$2,353$1,999$1,694$1,034
16 years$2,991$2,531$2,133$1,790$1,497$878
17 years$2,785$2,331$1,941$1,608$1,328$747
18 years$2,603$2,154$1,772$1,450$1,180$638
19 years$2,440$1,996$1,622$1,310$1,052$545
20 years$2,294$1,855$1,489$1,186$940$466
21 years$2,162$1,728$1,369$1,077$841$400
22 years$2,042$1,613$1,262$979$754$343
23 years$1,932$1,509$1,165$892$677$294
24 years$1,832$1,414$1,078$813$608$253
25 years$1,740$1,327$998$743$547$218
26 years$1,655$1,247$926$679$493$187
27 years$1,577$1,173$860$621$444$161
28 years$1,504$1,106$799$569$401$139
29 years$1,437$1,043$744$522$362$120
30 years$1,374$985$693$479$327$103
31 years$1,315$931$646$440$296$89
32 years$1,260$881$602$404$268$77
33 years$1,209$834$563$372$242$66
34 years$1,160$791$526$342$219$57
35 years$1,115$750$491$315$199$49
36 years$1,072$712$460$290$180$42
37 years$1,032$676$430$267$163$37
38 years$993$643$403$246$148$32
39 years$957$611$378$227$134$27
40 years$923$581$354$210$122$24
41 years$890$553$332$193$110$20
42 years$859$527$311$178$100$18
43 years$830$502$292$165$91$15
44 years$802$479$274$152$82$13
45 years$775$456$257$140$75$11
46 years$750$435$242$130$68$10
47 years$726$416$227$120$62$8
48 years$702$397$213$111$56$7
49 years$680$379$201$102$51$6
50 years$659$362$189$95$46$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $675,000, adding $6,967 every year, while hoping to spend $55,032 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: 63/21/16 Blend
55$675,000$675,000$675,000$675,000
56$751,036$715,261$704,799$794,951
57$769,089$691,756$669,856$801,781
58$787,138$665,254$631,898$802,344
59$805,125$635,550$590,766$801,639
60$822,985$602,429$546,294$799,545
61$840,642$565,661$498,307$795,931
62$858,012$525,003$446,625$790,654
63$875,000$480,199$391,058$783,562
64$891,499$430,978$331,407$774,487
65$907,389$377,053$267,467$763,250
66$922,536$318,122$199,021$749,655
67$936,790$253,866$125,843$733,490
68$949,983$183,945$47,699$714,526
69$961,927$108,004$0$692,512
70$972,414$25,666$0$673,274
71$981,209$0$0$659,510
72$988,055$0$0$657,461
73$992,662$0$0$659,761
74$994,709$0$0$660,256
75$993,840$0$0$658,697
76$989,659$0$0$654,809
77$981,727$0$0$648,285
78$969,555$0$0$638,787
79$952,605$0$0$625,937
80$930,277$0$0$609,320
81$901,907$0$0$588,473
82$866,761$0$0$562,885
83$824,025$0$0$531,991
84$772,799$0$0$495,164
85$712,086$0$0$451,711
86$640,786$0$0$400,866
87$557,679$0$0$341,782
88$461,418$0$0$273,522
89$350,515$0$0$195,051
90$223,323$0$0$105,226
91$78,025$0$0$2,782
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0