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%11.3%
1 years$55,823$55,326$54,841$54,368$53,905$53,610
2 years$27,635$27,121$26,622$26,138$25,669$25,372
3 years$18,241$17,724$17,226$16,747$16,286$15,995
4 years$13,544$13,029$12,536$12,065$11,615$11,333
5 years$10,727$10,215$9,729$9,267$8,830$8,557
6 years$8,849$8,341$7,862$7,411$6,987$6,724
7 years$7,509$7,005$6,533$6,093$5,682$5,429
8 years$6,504$6,004$5,541$5,111$4,714$4,471
9 years$5,723$5,228$4,772$4,354$3,970$3,737
10 years$5,098$4,608$4,161$3,753$3,382$3,160
11 years$4,587$4,102$3,663$3,266$2,909$2,696
12 years$4,162$3,682$3,251$2,865$2,521$2,318
13 years$3,803$3,328$2,904$2,529$2,198$2,005
14 years$3,495$3,025$2,610$2,245$1,927$1,743
15 years$3,228$2,763$2,356$2,002$1,697$1,521
16 years$2,995$2,535$2,136$1,793$1,499$1,333
17 years$2,789$2,335$1,944$1,611$1,330$1,171
18 years$2,607$2,157$1,774$1,452$1,182$1,032
19 years$2,444$1,999$1,624$1,312$1,054$912
20 years$2,298$1,858$1,491$1,188$941$807
21 years$2,165$1,731$1,371$1,078$842$715
22 years$2,045$1,615$1,264$980$755$635
23 years$1,935$1,511$1,167$893$678$564
24 years$1,835$1,416$1,079$814$609$502
25 years$1,743$1,328$1,000$744$548$448
26 years$1,658$1,249$927$680$494$399
27 years$1,579$1,175$861$622$445$356
28 years$1,507$1,107$800$570$402$318
29 years$1,439$1,045$745$523$363$284
30 years$1,376$986$694$480$328$254
31 years$1,317$933$647$441$296$228
32 years$1,262$882$603$405$268$204
33 years$1,211$836$563$373$243$182
34 years$1,162$792$526$343$220$163
35 years$1,117$751$492$316$199$146
36 years$1,074$713$460$291$180$131
37 years$1,033$677$431$268$163$118
38 years$995$644$404$247$148$105
39 years$959$612$378$228$134$95
40 years$924$582$354$210$122$85
41 years$892$554$332$194$110$76
42 years$861$528$312$179$100$68
43 years$831$503$292$165$91$61
44 years$803$479$275$152$83$55
45 years$776$457$258$141$75$49
46 years$751$436$242$130$68$44
47 years$727$416$227$120$62$40
48 years$703$397$214$111$56$36
49 years$681$379$201$103$51$32
50 years$660$362$189$95$46$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $676,000, adding $4,805 every year, while hoping to spend $38,815 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: 45/36/19 Blend
55$676,000$676,000$676,000$676,000
56$749,908$714,080$703,602$779,361
57$785,100$707,771$685,874$794,183
58$822,581$699,852$666,251$806,016
59$862,542$690,204$644,629$818,037
60$905,196$678,698$620,898$830,281
61$950,772$665,200$594,945$842,789
62$999,524$649,569$566,649$855,609
63$1,051,730$631,652$535,886$868,797
64$1,107,694$611,291$502,526$882,419
65$1,167,751$588,315$466,432$896,550
66$1,232,265$562,547$427,461$911,275
67$1,301,640$533,796$385,465$926,695
68$1,376,318$501,862$340,289$942,921
69$1,456,783$466,533$291,769$960,082
70$1,543,567$427,586$239,736$978,325
71$1,637,257$384,784$184,013$997,816
72$1,738,495$337,876$124,415$1,018,743
73$1,847,988$286,599$60,750$1,041,319
74$1,966,512$230,671$0$1,065,785
75$2,094,922$169,800$0$1,093,868
76$2,234,156$103,672$0$1,137,654
77$2,385,247$31,959$0$1,185,201
78$2,549,330$0$0$1,236,942
79$2,727,654$0$0$1,311,455
80$2,921,594$0$0$1,406,332
81$3,132,660$0$0$1,509,662
82$3,362,517$0$0$1,622,267
83$3,612,995$0$0$1,745,055
84$3,886,107$0$0$1,879,023
85$4,184,071$0$0$2,025,268
86$4,509,328$0$0$2,185,000
87$4,864,563$0$0$2,359,549
88$5,252,734$0$0$2,550,380
89$5,677,095$0$0$2,759,106
90$6,141,231$0$0$2,987,502
91$6,649,090$0$0$3,237,524
92$7,205,015$0$0$3,511,325
93$7,813,793$0$0$3,811,276
94$8,480,693$0$0$4,139,989
95$9,211,519$0$0$4,500,339
96$10,012,661$0$0$4,895,495
97$10,891,160$0$0$5,328,944
98$11,854,767$0$0$5,804,529
99$12,912,022$0$0$6,326,484
100$14,072,332$0$0$6,899,469