Can I retire at age 56 with 676,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $676,000?

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 years$55,823$55,326$54,841$54,368$53,905$53,678
2 years$27,635$27,121$26,622$26,138$25,669$25,440
3 years$18,241$17,724$17,226$16,747$16,286$16,061
4 years$13,544$13,029$12,536$12,065$11,615$11,397
5 years$10,727$10,215$9,729$9,267$8,830$8,619
6 years$8,849$8,341$7,862$7,411$6,987$6,784
7 years$7,509$7,005$6,533$6,093$5,682$5,487
8 years$6,504$6,004$5,541$5,111$4,714$4,526
9 years$5,723$5,228$4,772$4,354$3,970$3,790
10 years$5,098$4,608$4,161$3,753$3,382$3,210
11 years$4,587$4,102$3,663$3,266$2,909$2,744
12 years$4,162$3,682$3,251$2,865$2,521$2,363
13 years$3,803$3,328$2,904$2,529$2,198$2,048
14 years$3,495$3,025$2,610$2,245$1,927$1,784
15 years$3,228$2,763$2,356$2,002$1,697$1,560
16 years$2,995$2,535$2,136$1,793$1,499$1,370
17 years$2,789$2,335$1,944$1,611$1,330$1,206
18 years$2,607$2,157$1,774$1,452$1,182$1,065
19 years$2,444$1,999$1,624$1,312$1,054$943
20 years$2,298$1,858$1,491$1,188$941$836
21 years$2,165$1,731$1,371$1,078$842$743
22 years$2,045$1,615$1,264$980$755$661
23 years$1,935$1,511$1,167$893$678$589
24 years$1,835$1,416$1,079$814$609$525
25 years$1,743$1,328$1,000$744$548$469
26 years$1,658$1,249$927$680$494$419
27 years$1,579$1,175$861$622$445$375
28 years$1,507$1,107$800$570$402$336
29 years$1,439$1,045$745$523$363$301
30 years$1,376$986$694$480$328$270
31 years$1,317$933$647$441$296$242
32 years$1,262$882$603$405$268$217
33 years$1,211$836$563$373$243$195
34 years$1,162$792$526$343$220$175
35 years$1,117$751$492$316$199$157
36 years$1,074$713$460$291$180$141
37 years$1,033$677$431$268$163$127
38 years$995$644$404$247$148$114
39 years$959$612$378$228$134$103
40 years$924$582$354$210$122$92
41 years$892$554$332$194$110$83
42 years$861$528$312$179$100$75
43 years$831$503$292$165$91$67
44 years$803$479$275$152$83$60
45 years$776$457$258$141$75$54
46 years$751$436$242$130$68$49
47 years$727$416$227$120$62$44
48 years$703$397$214$111$56$40
49 years$681$379$201$103$51$36
50 years$660$362$189$95$46$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $676,000, adding $2,477 every year, while hoping to spend $49,809 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: 56/30/14 Blend
55$676,000$676,000$676,000$676,000
56$747,507$711,679$701,201$786,528
57$770,756$693,555$671,695$795,153
58$794,708$672,873$639,531$798,899
59$819,380$649,456$604,567$801,829
60$844,793$623,116$566,656$803,873
61$870,966$593,652$525,643$804,958
62$897,918$560,855$481,366$805,008
63$925,670$524,502$433,657$803,940
64$954,243$484,356$382,338$801,667
65$983,655$440,169$327,226$798,097
66$1,013,928$391,678$268,128$793,132
67$1,045,082$338,603$204,844$786,667
68$1,077,137$280,651$137,163$778,593
69$1,110,114$217,512$64,866$768,793
70$1,144,032$148,857$0$757,143
71$1,178,911$74,339$0$745,346
72$1,214,772$0$0$741,890
73$1,251,631$0$0$739,078
74$1,289,509$0$0$761,403
75$1,328,421$0$0$784,334
76$1,368,385$0$0$807,880
77$1,409,416$0$0$832,049
78$1,451,529$0$0$856,848
79$1,494,734$0$0$882,285
80$1,539,044$0$0$908,365
81$1,584,467$0$0$935,092
82$1,631,009$0$0$962,468
83$1,678,673$0$0$990,495
84$1,727,459$0$0$1,019,171
85$1,777,366$0$0$1,048,492
86$1,828,384$0$0$1,078,454
87$1,880,503$0$0$1,109,046
88$1,933,705$0$0$1,140,257
89$1,987,967$0$0$1,172,072
90$2,043,260$0$0$1,204,470
91$2,099,548$0$0$1,237,428
92$2,156,785$0$0$1,270,915
93$2,214,918$0$0$1,304,897
94$2,273,881$0$0$1,339,333
95$2,333,600$0$0$1,374,172
96$2,393,984$0$0$1,409,360
97$2,454,933$0$0$1,444,830
98$2,516,326$0$0$1,480,507
99$2,578,027$0$0$1,516,305
100$2,639,881$0$0$1,552,124