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%16.3%
1 years$56,071$55,572$55,084$54,609$54,144$52,750
2 years$27,758$27,241$26,740$26,254$25,783$24,387
3 years$18,322$17,802$17,303$16,821$16,358$15,005
4 years$13,604$13,087$12,592$12,119$11,667$10,366
5 years$10,775$10,260$9,772$9,308$8,869$7,625
6 years$8,889$8,378$7,897$7,444$7,018$5,831
7 years$7,542$7,036$6,562$6,120$5,707$4,579
8 years$6,533$6,031$5,566$5,134$4,735$3,664
9 years$5,748$5,251$4,794$4,373$3,987$2,973
10 years$5,121$4,629$4,179$3,770$3,397$2,438
11 years$4,608$4,121$3,679$3,281$2,922$2,016
12 years$4,181$3,698$3,265$2,878$2,532$1,678
13 years$3,819$3,342$2,917$2,541$2,208$1,405
14 years$3,510$3,038$2,621$2,255$1,935$1,181
15 years$3,242$2,775$2,367$2,011$1,704$996
16 years$3,008$2,546$2,146$1,801$1,506$843
17 years$2,802$2,345$1,952$1,618$1,335$715
18 years$2,619$2,167$1,782$1,458$1,187$608
19 years$2,455$2,008$1,632$1,318$1,058$517
20 years$2,308$1,866$1,497$1,193$945$441
21 years$2,175$1,738$1,377$1,083$846$377
22 years$2,054$1,623$1,269$985$758$322
23 years$1,944$1,518$1,172$897$681$275
24 years$1,843$1,422$1,084$818$612$236
25 years$1,751$1,334$1,004$747$551$202
26 years$1,665$1,254$931$683$496$173
27 years$1,586$1,180$865$625$447$148
28 years$1,513$1,112$804$573$403$127
29 years$1,445$1,049$748$525$364$109
30 years$1,382$991$697$482$329$94
31 years$1,323$937$650$443$298$80
32 years$1,268$886$606$407$269$69
33 years$1,216$839$566$374$244$59
34 years$1,167$795$529$344$221$51
35 years$1,122$755$494$317$200$44
36 years$1,078$716$462$292$181$38
37 years$1,038$680$433$269$164$32
38 years$999$646$405$248$149$28
39 years$963$615$380$229$135$24
40 years$928$585$356$211$122$21
41 years$896$557$334$194$111$18
42 years$864$530$313$179$101$15
43 years$835$505$294$166$91$13
44 years$807$482$276$153$83$11
45 years$780$459$259$141$75$10
46 years$754$438$243$131$68$8
47 years$730$418$228$121$62$7
48 years$707$399$215$111$56$6
49 years$684$381$202$103$51$5
50 years$663$364$190$95$47$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $679,000, adding $2,140 every year, while hoping to spend $42,711 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: 66/8/26 Blend
55$679,000$679,000$679,000$679,000
56$750,465$714,478$703,954$794,771
57$781,569$704,044$682,092$814,452
58$814,413$691,666$658,067$830,960
59$849,131$677,206$631,760$848,047
60$885,867$660,513$603,048$865,772
61$924,779$641,432$571,804$884,202
62$966,039$619,795$537,892$903,413
63$1,009,837$595,427$501,173$923,489
64$1,056,377$568,140$461,500$944,526
65$1,105,886$537,737$418,718$966,630
66$1,158,611$504,010$372,669$989,920
67$1,214,821$466,738$323,185$1,014,530
68$1,274,812$425,688$270,092$1,040,607
69$1,338,909$380,613$213,206$1,068,318
70$1,407,467$331,252$152,337$1,097,849
71$1,480,875$277,330$87,287$1,129,407
72$1,559,561$218,556$17,849$1,163,223
73$1,643,994$154,623$0$1,199,553
74$1,734,688$85,206$0$1,254,290
75$1,832,207$9,962$0$1,318,446
76$1,937,171$0$0$1,387,482
77$2,050,262$0$0$1,468,155
78$2,172,225$0$0$1,556,135
79$2,303,884$0$0$1,651,144
80$2,446,139$0$0$1,753,837
81$2,599,983$0$0$1,864,935
82$2,766,506$0$0$1,985,228
83$2,946,906$0$0$2,115,589
84$3,142,501$0$0$2,256,975
85$3,354,739$0$0$2,410,438
86$3,585,214$0$0$2,577,137
87$3,835,678$0$0$2,758,345
88$4,108,060$0$0$2,955,465
89$4,404,482$0$0$3,170,037
90$4,727,276$0$0$3,403,758
91$5,079,012$0$0$3,658,497
92$5,462,515$0$0$3,936,306
93$5,880,898$0$0$4,239,448
94$6,337,584$0$0$4,570,413
95$6,836,341$0$0$4,931,940
96$7,381,321$0$0$5,327,046
97$7,977,090$0$0$5,759,052
98$8,628,678$0$0$6,231,615
99$9,341,622$0$0$6,748,762
100$10,122,021$0$0$7,314,925