Can I retire at age 56 with 677,000?

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 $677,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$55,906$55,408$54,922$54,448$53,985$52,320
2 years$27,676$27,161$26,661$26,177$25,707$24,044
3 years$18,268$17,750$17,252$16,772$16,310$14,701
4 years$13,564$13,048$12,555$12,083$11,632$10,090
5 years$10,743$10,230$9,743$9,281$8,843$7,371
6 years$8,863$8,353$7,874$7,422$6,997$5,597
7 years$7,520$7,015$6,543$6,102$5,690$4,363
8 years$6,514$6,013$5,549$5,119$4,721$3,464
9 years$5,731$5,236$4,779$4,360$3,975$2,789
10 years$5,106$4,615$4,167$3,759$3,387$2,269
11 years$4,594$4,108$3,668$3,271$2,913$1,860
12 years$4,168$3,688$3,256$2,869$2,525$1,536
13 years$3,808$3,332$2,909$2,533$2,201$1,274
14 years$3,500$3,029$2,613$2,249$1,930$1,061
15 years$3,233$2,767$2,360$2,005$1,699$887
16 years$2,999$2,539$2,139$1,796$1,502$744
17 years$2,794$2,338$1,947$1,613$1,331$625
18 years$2,611$2,161$1,777$1,454$1,184$526
19 years$2,448$2,002$1,627$1,314$1,055$443
20 years$2,301$1,861$1,493$1,190$943$374
21 years$2,168$1,733$1,373$1,080$843$316
22 years$2,048$1,618$1,266$982$756$268
23 years$1,938$1,513$1,169$894$679$227
24 years$1,838$1,418$1,081$816$610$192
25 years$1,745$1,330$1,001$745$549$163
26 years$1,660$1,250$928$681$494$138
27 years$1,582$1,177$862$623$446$117
28 years$1,509$1,109$801$571$402$99
29 years$1,441$1,046$746$524$363$84
30 years$1,378$988$695$481$328$72
31 years$1,319$934$648$441$297$61
32 years$1,264$884$604$406$268$52
33 years$1,212$837$564$373$243$44
34 years$1,164$793$527$343$220$37
35 years$1,118$752$493$316$199$32
36 years$1,075$714$461$291$180$27
37 years$1,035$678$432$268$164$23
38 years$996$645$404$247$148$19
39 years$960$613$379$228$134$17
40 years$926$583$355$210$122$14
41 years$893$555$333$194$111$12
42 years$862$529$312$179$100$10
43 years$832$504$293$165$91$9
44 years$804$480$275$153$83$7
45 years$778$458$258$141$75$6
46 years$752$437$242$130$68$5
47 years$728$417$228$120$62$5
48 years$705$398$214$111$56$4
49 years$682$380$201$103$51$3
50 years$661$363$189$95$46$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $677,000, adding $4,567 every year, while hoping to spend $26,906 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: 42/35/23 Blend
55$677,000$677,000$677,000$677,000
56$750,765$714,884$704,390$777,072
57$798,715$721,285$699,360$802,676
58$850,654$727,099$693,259$827,461
59$906,962$732,267$686,023$853,763
60$968,052$736,729$677,586$881,736
61$1,034,385$740,420$667,876$911,551
62$1,106,462$743,270$656,820$943,399
63$1,184,839$745,208$644,341$977,491
64$1,270,123$746,154$630,357$1,014,061
65$1,362,986$746,026$614,784$1,053,369
66$1,464,166$744,736$597,534$1,095,703
67$1,574,473$742,191$578,515$1,141,383
68$1,694,802$738,291$557,628$1,190,763
69$1,826,137$732,932$534,773$1,244,235
70$1,969,559$726,002$509,844$1,302,235
71$2,126,261$717,383$482,730$1,365,245
72$2,297,554$706,949$453,317$1,433,798
73$2,484,883$694,568$421,481$1,508,485
74$2,689,838$680,099$387,098$1,589,962
75$2,914,172$663,394$350,036$1,678,952
76$3,159,811$644,294$310,156$1,776,258
77$3,428,880$622,632$267,314$1,882,767
78$3,723,717$598,233$221,360$1,999,462
79$4,046,897$570,908$172,137$2,127,427
80$4,401,258$540,460$119,481$2,267,864
81$4,789,924$506,679$63,221$2,422,103
82$5,216,335$469,346$3,178$2,591,612
83$5,684,282$428,224$0$2,778,016
84$6,197,940$383,069$0$2,998,054
85$6,761,908$333,617$0$3,240,570
86$7,381,251$279,593$0$3,507,027
87$8,061,550$220,705$0$3,799,899
88$8,808,954$156,645$0$4,121,919
89$9,630,234$87,087$0$4,476,101
90$10,532,852$11,689$0$4,865,773
91$11,525,028$0$0$5,294,604
92$12,615,817$0$0$5,793,573
93$13,815,197$0$0$6,347,260
94$15,134,158$0$0$6,956,248
95$16,584,814$0$0$7,626,144
96$18,180,505$0$0$8,363,119
97$19,935,935$0$0$9,173,979
98$21,867,300$0$0$10,066,217
99$23,992,448$0$0$11,048,093
100$26,331,044$0$0$12,128,707