Can I retire at age 56 with 676,000?

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 $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%12.1%
1 years$55,823$55,326$54,841$54,368$53,905$53,431
2 years$27,635$27,121$26,622$26,138$25,669$25,192
3 years$18,241$17,724$17,226$16,747$16,286$15,819
4 years$13,544$13,029$12,536$12,065$11,615$11,163
5 years$10,727$10,215$9,729$9,267$8,830$8,394
6 years$8,849$8,341$7,862$7,411$6,987$6,567
7 years$7,509$7,005$6,533$6,093$5,682$5,280
8 years$6,504$6,004$5,541$5,111$4,714$4,328
9 years$5,723$5,228$4,772$4,354$3,970$3,601
10 years$5,098$4,608$4,161$3,753$3,382$3,030
11 years$4,587$4,102$3,663$3,266$2,909$2,573
12 years$4,162$3,682$3,251$2,865$2,521$2,201
13 years$3,803$3,328$2,904$2,529$2,198$1,893
14 years$3,495$3,025$2,610$2,245$1,927$1,637
15 years$3,228$2,763$2,356$2,002$1,697$1,422
16 years$2,995$2,535$2,136$1,793$1,499$1,239
17 years$2,789$2,335$1,944$1,611$1,330$1,083
18 years$2,607$2,157$1,774$1,452$1,182$949
19 years$2,444$1,999$1,624$1,312$1,054$833
20 years$2,298$1,858$1,491$1,188$941$733
21 years$2,165$1,731$1,371$1,078$842$646
22 years$2,045$1,615$1,264$980$755$570
23 years$1,935$1,511$1,167$893$678$504
24 years$1,835$1,416$1,079$814$609$446
25 years$1,743$1,328$1,000$744$548$395
26 years$1,658$1,249$927$680$494$350
27 years$1,579$1,175$861$622$445$310
28 years$1,507$1,107$800$570$402$275
29 years$1,439$1,045$745$523$363$244
30 years$1,376$986$694$480$328$217
31 years$1,317$933$647$441$296$193
32 years$1,262$882$603$405$268$172
33 years$1,211$836$563$373$243$153
34 years$1,162$792$526$343$220$136
35 years$1,117$751$492$316$199$121
36 years$1,074$713$460$291$180$108
37 years$1,033$677$431$268$163$96
38 years$995$644$404$247$148$85
39 years$959$612$378$228$134$76
40 years$924$582$354$210$122$68
41 years$892$554$332$194$110$60
42 years$861$528$312$179$100$54
43 years$831$503$292$165$91$48
44 years$803$479$275$152$83$43
45 years$776$457$258$141$75$38
46 years$751$436$242$130$68$34
47 years$727$416$227$120$62$30
48 years$703$397$214$111$56$27
49 years$681$379$201$103$51$24
50 years$660$362$189$95$46$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $676,000, adding $6,740 every year, while hoping to spend $50,107 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: 74/20/6 Blend
55$676,000$676,000$676,000$676,000
56$751,904$716,076$705,598$806,543
57$775,285$697,851$675,922$825,206
58$799,371$677,052$643,573$838,625
59$824,182$653,503$608,408$851,888
60$849,737$627,013$570,277$864,961
61$876,055$597,381$529,026$877,809
62$903,156$564,397$484,493$890,394
63$931,061$527,835$436,506$902,674
64$959,789$487,458$384,889$914,606
65$989,360$443,017$329,456$926,142
66$1,019,796$394,246$270,013$937,232
67$1,051,116$340,865$206,360$947,820
68$1,083,341$282,578$138,283$957,849
69$1,116,490$219,073$65,565$967,255
70$1,150,585$150,020$0$975,972
71$1,185,643$75,070$0$984,698
72$1,221,685$0$0$997,116
73$1,258,729$0$0$1,010,310
74$1,296,793$0$0$1,040,842
75$1,335,895$0$0$1,072,203
76$1,376,049$0$0$1,104,407
77$1,417,273$0$0$1,137,465
78$1,459,578$0$0$1,171,388
79$1,502,977$0$0$1,206,185
80$1,547,481$0$0$1,241,864
81$1,593,097$0$0$1,278,430
82$1,639,830$0$0$1,315,888
83$1,687,684$0$0$1,354,239
84$1,736,657$0$0$1,393,482
85$1,786,746$0$0$1,433,613
86$1,837,942$0$0$1,474,623
87$1,890,232$0$0$1,516,503
88$1,943,597$0$0$1,559,235
89$1,998,013$0$0$1,602,800
90$2,053,448$0$0$1,647,170
91$2,109,865$0$0$1,692,315
92$2,167,216$0$0$1,738,194
93$2,225,444$0$0$1,784,760
94$2,284,482$0$0$1,831,958
95$2,344,251$0$0$1,879,722
96$2,404,660$0$0$1,927,977
97$2,465,601$0$0$1,976,635
98$2,526,951$0$0$2,025,593
99$2,588,570$0$0$2,074,737
100$2,650,296$0$0$2,123,933