Can I retire at age 56 with 679,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%14.9%
1 years$56,071$55,572$55,084$54,609$54,144$53,051
2 years$27,758$27,241$26,740$26,254$25,783$24,686
3 years$18,322$17,802$17,303$16,821$16,358$15,292
4 years$13,604$13,087$12,592$12,119$11,667$10,640
5 years$10,775$10,260$9,772$9,308$8,869$7,884
6 years$8,889$8,378$7,897$7,444$7,018$6,076
7 years$7,542$7,036$6,562$6,120$5,707$4,809
8 years$6,533$6,031$5,566$5,134$4,735$3,879
9 years$5,748$5,251$4,794$4,373$3,987$3,174
10 years$5,121$4,629$4,179$3,770$3,397$2,626
11 years$4,608$4,121$3,679$3,281$2,922$2,191
12 years$4,181$3,698$3,265$2,878$2,532$1,841
13 years$3,819$3,342$2,917$2,541$2,208$1,555
14 years$3,510$3,038$2,621$2,255$1,935$1,320
15 years$3,242$2,775$2,367$2,011$1,704$1,124
16 years$3,008$2,546$2,146$1,801$1,506$961
17 years$2,802$2,345$1,952$1,618$1,335$823
18 years$2,619$2,167$1,782$1,458$1,187$707
19 years$2,455$2,008$1,632$1,318$1,058$608
20 years$2,308$1,866$1,497$1,193$945$524
21 years$2,175$1,738$1,377$1,083$846$452
22 years$2,054$1,623$1,269$985$758$391
23 years$1,944$1,518$1,172$897$681$338
24 years$1,843$1,422$1,084$818$612$292
25 years$1,751$1,334$1,004$747$551$253
26 years$1,665$1,254$931$683$496$220
27 years$1,586$1,180$865$625$447$190
28 years$1,513$1,112$804$573$403$165
29 years$1,445$1,049$748$525$364$143
30 years$1,382$991$697$482$329$124
31 years$1,323$937$650$443$298$108
32 years$1,268$886$606$407$269$94
33 years$1,216$839$566$374$244$82
34 years$1,167$795$529$344$221$71
35 years$1,122$755$494$317$200$62
36 years$1,078$716$462$292$181$54
37 years$1,038$680$433$269$164$47
38 years$999$646$405$248$149$41
39 years$963$615$380$229$135$35
40 years$928$585$356$211$122$31
41 years$896$557$334$194$111$27
42 years$864$530$313$179$101$23
43 years$835$505$294$166$91$20
44 years$807$482$276$153$83$18
45 years$780$459$259$141$75$15
46 years$754$438$243$131$68$13
47 years$730$418$228$121$62$12
48 years$707$399$215$111$56$10
49 years$684$381$202$103$51$9
50 years$663$364$190$95$47$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $679,000, adding $4,505 every year, while hoping to spend $26,525 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: 35/37/28 Blend
55$679,000$679,000$679,000$679,000
56$752,905$716,918$706,393$772,775
57$801,479$723,824$701,835$794,949
58$854,118$730,180$696,235$816,155
59$911,210$735,931$689,531$838,525
60$973,179$741,017$681,656$862,182
61$1,040,493$745,377$672,541$887,261
62$1,113,667$748,944$662,115$913,915
63$1,193,267$751,648$650,301$942,313
64$1,279,915$753,413$637,021$972,643
65$1,374,296$754,161$622,191$1,005,114
66$1,477,165$753,805$605,725$1,039,960
67$1,589,351$752,257$587,533$1,077,439
68$1,711,768$749,421$567,518$1,117,839
69$1,845,421$745,195$545,583$1,161,481
70$1,991,417$739,473$521,623$1,208,718
71$2,150,974$732,139$495,529$1,259,946
72$2,325,433$723,074$467,190$1,315,603
73$2,516,272$712,149$436,485$1,376,173
74$2,725,116$699,229$403,292$1,442,196
75$2,953,756$684,169$367,480$1,514,269
76$3,204,164$666,818$328,915$1,593,055
77$3,478,510$647,014$287,456$1,679,288
78$3,779,187$624,586$242,954$1,773,781
79$4,108,828$599,355$195,257$1,877,435
80$4,470,333$571,128$144,203$1,991,249
81$4,866,897$539,704$89,624$2,116,328
82$5,302,040$504,868$31,346$2,253,896
83$5,779,637$466,396$0$2,405,306
84$6,303,958$424,047$0$2,581,275
85$6,879,705$377,569$0$2,784,837
86$7,512,060$326,695$0$3,008,511
87$8,206,730$271,143$0$3,254,390
88$8,970,003$210,615$0$3,524,781
89$9,808,803$144,796$0$3,822,235
90$10,730,764$73,353$0$4,149,563
91$11,744,290$0$0$4,509,873
92$12,858,644$0$0$4,908,246
93$14,084,030$0$0$5,379,260
94$15,431,690$0$0$5,897,385
95$16,914,010$0$0$6,467,395
96$18,544,639$0$0$7,094,554
97$20,338,611$0$0$7,784,659
98$22,312,496$0$0$8,544,098
99$24,484,545$0$0$9,379,909
100$26,874,873$0$0$10,299,850