Can I retire at age 56 with 678,000?

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 $678,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$55,989$55,490$55,003$54,528$54,065$53,235
2 years$27,717$27,201$26,701$26,216$25,745$24,911
3 years$18,295$17,776$17,277$16,797$16,334$15,521
4 years$13,584$13,067$12,573$12,101$11,649$10,865
5 years$10,759$10,245$9,757$9,295$8,856$8,102
6 years$8,876$8,366$7,885$7,433$7,007$6,284
7 years$7,531$7,026$6,553$6,111$5,699$5,007
8 years$6,523$6,022$5,557$5,126$4,728$4,067
9 years$5,740$5,243$4,787$4,367$3,981$3,352
10 years$5,113$4,622$4,173$3,764$3,392$2,793
11 years$4,601$4,115$3,674$3,276$2,917$2,348
12 years$4,174$3,693$3,260$2,873$2,528$1,988
13 years$3,814$3,337$2,913$2,537$2,205$1,693
14 years$3,505$3,034$2,617$2,252$1,933$1,449
15 years$3,238$2,771$2,363$2,008$1,702$1,244
16 years$3,004$2,543$2,142$1,798$1,504$1,072
17 years$2,798$2,342$1,950$1,616$1,333$927
18 years$2,615$2,164$1,780$1,456$1,186$803
19 years$2,451$2,005$1,629$1,316$1,057$697
20 years$2,304$1,863$1,495$1,192$944$606
21 years$2,172$1,736$1,375$1,081$845$528
22 years$2,051$1,620$1,268$983$757$460
23 years$1,941$1,515$1,170$895$680$402
24 years$1,840$1,420$1,082$817$611$351
25 years$1,748$1,332$1,003$746$550$307
26 years$1,663$1,252$930$682$495$268
27 years$1,584$1,179$863$624$446$235
28 years$1,511$1,111$803$572$403$206
29 years$1,443$1,048$747$524$364$181
30 years$1,380$989$696$481$329$158
31 years$1,321$935$649$442$297$139
32 years$1,266$885$605$406$269$122
33 years$1,214$838$565$374$243$107
34 years$1,166$794$528$344$220$94
35 years$1,120$753$494$316$199$82
36 years$1,077$715$462$291$181$72
37 years$1,036$679$432$269$164$64
38 years$998$645$405$248$149$56
39 years$961$614$379$228$135$49
40 years$927$584$355$210$122$43
41 years$894$556$333$194$111$38
42 years$863$529$313$179$101$33
43 years$834$504$293$165$91$29
44 years$806$481$275$153$83$26
45 years$779$458$259$141$75$23
46 years$753$437$243$130$68$20
47 years$729$417$228$120$62$18
48 years$706$398$214$111$56$15
49 years$683$381$202$103$51$14
50 years$662$363$189$95$46$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $678,000, adding $5,999 every year, while hoping to spend $21,624 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: 43/34/23 Blend
55$678,000$678,000$678,000$678,000
56$753,344$717,410$706,901$780,463
57$807,177$729,555$707,574$812,456
58$865,777$741,571$707,546$844,552
59$929,606$753,428$706,768$878,893
60$999,175$765,095$705,194$915,698
61$1,075,044$776,538$702,771$955,209
62$1,157,831$787,721$699,447$997,693
63$1,248,217$798,606$695,165$1,043,446
64$1,346,948$809,151$689,867$1,092,792
65$1,454,850$819,313$683,490$1,146,092
66$1,572,829$829,043$675,972$1,203,744
67$1,701,884$838,293$667,243$1,266,188
68$1,843,114$847,007$657,233$1,333,907
69$1,997,730$855,129$645,869$1,407,439
70$2,167,066$862,597$633,073$1,487,373
71$2,352,589$869,347$618,763$1,574,365
72$2,555,917$875,308$602,855$1,669,135
73$2,778,830$880,408$585,261$1,772,480
74$3,023,289$884,567$565,886$1,885,279
75$3,291,456$887,702$544,634$2,008,503
76$3,585,709$889,724$521,404$2,143,223
77$3,908,670$890,539$496,090$2,290,624
78$4,263,225$890,046$468,579$2,452,010
79$4,652,554$888,139$438,757$2,628,823
80$5,080,161$884,704$406,502$2,822,655
81$5,549,905$879,622$371,687$3,035,260
82$6,066,037$872,766$334,181$3,268,578
83$6,633,242$863,999$293,844$3,524,746
84$7,256,677$853,180$250,533$3,806,124
85$7,942,029$840,157$204,097$4,115,316
86$8,695,559$824,768$154,377$4,455,194
87$9,524,169$806,844$101,211$4,828,930
88$10,435,458$786,204$44,426$5,240,019
89$11,437,804$762,656$0$5,692,321
90$12,540,433$736,000$0$6,194,060
91$13,753,514$706,021$0$6,757,857
92$15,088,249$672,492$0$7,378,023
93$16,556,981$635,175$0$8,060,323
94$18,173,310$593,816$0$8,811,110
95$19,952,221$548,146$0$9,637,390
96$21,910,227$497,884$0$10,546,885
97$24,065,519$442,730$0$11,548,109
98$26,438,146$382,367$0$12,650,448
99$29,050,195$316,462$0$13,864,250
100$31,926,007$244,661$0$15,200,922