Can I retire at age 56 with 679,000?

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 $679,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$56,071$55,572$55,084$54,609$54,144$52,327
2 years$27,758$27,241$26,740$26,254$25,783$23,970
3 years$18,322$17,802$17,303$16,821$16,358$14,606
4 years$13,604$13,087$12,592$12,119$11,667$9,990
5 years$10,775$10,260$9,772$9,308$8,869$7,271
6 years$8,889$8,378$7,897$7,444$7,018$5,500
7 years$7,542$7,036$6,562$6,120$5,707$4,270
8 years$6,533$6,031$5,566$5,134$4,735$3,377
9 years$5,748$5,251$4,794$4,373$3,987$2,707
10 years$5,121$4,629$4,179$3,770$3,397$2,192
11 years$4,608$4,121$3,679$3,281$2,922$1,790
12 years$4,181$3,698$3,265$2,878$2,532$1,470
13 years$3,819$3,342$2,917$2,541$2,208$1,214
14 years$3,510$3,038$2,621$2,255$1,935$1,006
15 years$3,242$2,775$2,367$2,011$1,704$837
16 years$3,008$2,546$2,146$1,801$1,506$698
17 years$2,802$2,345$1,952$1,618$1,335$584
18 years$2,619$2,167$1,782$1,458$1,187$489
19 years$2,455$2,008$1,632$1,318$1,058$410
20 years$2,308$1,866$1,497$1,193$945$344
21 years$2,175$1,738$1,377$1,083$846$289
22 years$2,054$1,623$1,269$985$758$243
23 years$1,944$1,518$1,172$897$681$205
24 years$1,843$1,422$1,084$818$612$173
25 years$1,751$1,334$1,004$747$551$146
26 years$1,665$1,254$931$683$496$123
27 years$1,586$1,180$865$625$447$104
28 years$1,513$1,112$804$573$403$87
29 years$1,445$1,049$748$525$364$74
30 years$1,382$991$697$482$329$62
31 years$1,323$937$650$443$298$53
32 years$1,268$886$606$407$269$44
33 years$1,216$839$566$374$244$38
34 years$1,167$795$529$344$221$32
35 years$1,122$755$494$317$200$27
36 years$1,078$716$462$292$181$23
37 years$1,038$680$433$269$164$19
38 years$999$646$405$248$149$16
39 years$963$615$380$229$135$14
40 years$928$585$356$211$122$12
41 years$896$557$334$194$111$10
42 years$864$530$313$179$101$8
43 years$835$505$294$166$91$7
44 years$807$482$276$153$83$6
45 years$780$459$259$141$75$5
46 years$754$438$243$131$68$4
47 years$730$418$228$121$62$4
48 years$707$399$215$111$56$3
49 years$684$381$202$103$51$3
50 years$663$364$190$95$47$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $679,000, adding $3,568 every year, while hoping to spend $24,861 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: 59/13/28 Blend
55$679,000$679,000$679,000$679,000
56$751,938$715,951$705,427$790,387
57$802,184$724,581$702,607$825,704
58$856,722$732,800$698,859$861,263
59$915,963$740,563$694,126$899,535
60$980,360$747,819$688,348$940,789
61$1,050,411$754,517$681,462$985,325
62$1,126,664$760,599$673,402$1,033,472
63$1,209,722$766,007$664,099$1,085,593
64$1,300,248$770,675$653,481$1,142,092
65$1,398,972$774,538$641,472$1,203,410
66$1,506,698$777,521$627,992$1,270,039
67$1,624,311$779,549$612,960$1,342,519
68$1,752,785$780,541$596,287$1,421,447
69$1,893,190$780,409$577,884$1,507,481
70$2,046,708$779,062$557,656$1,601,350
71$2,214,638$776,401$535,503$1,703,856
72$2,398,410$772,324$511,322$1,815,885
73$2,599,601$766,721$485,004$1,938,415
74$2,819,944$759,474$456,435$2,072,527
75$3,061,350$750,460$425,498$2,219,410
76$3,325,924$739,549$392,068$2,380,379
77$3,615,982$726,601$356,016$2,556,885
78$3,934,077$711,469$317,208$2,750,527
79$4,283,019$693,997$275,501$2,963,072
80$4,665,905$674,021$230,748$3,196,467
81$5,086,145$651,365$182,795$3,452,862
82$5,547,496$625,846$131,482$3,734,627
83$6,054,094$597,267$76,641$4,044,377
84$6,610,500$565,421$18,097$4,384,998
85$7,221,734$530,089$0$4,759,672
86$7,893,328$491,041$0$5,185,168
87$8,631,377$448,031$0$5,658,730
88$9,442,594$400,801$0$6,179,276
89$10,334,375$349,077$0$6,751,575
90$11,314,871$292,571$0$7,380,888
91$12,393,058$230,978$0$8,073,010
92$13,578,829$163,974$0$8,834,326
93$14,883,081$91,220$0$9,671,877
94$16,317,822$12,357$0$10,593,419
95$17,896,281$0$0$11,607,502
96$19,633,036$0$0$12,733,990
97$21,544,147$0$0$13,975,579
98$23,647,310$0$0$15,342,006
99$25,962,024$0$0$16,845,947
100$28,509,773$0$0$18,501,370