Can I retire at age 56 with 683,000?

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 $683,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$56,402$55,899$55,409$54,931$54,463$52,932
2 years$27,922$27,402$26,898$26,409$25,935$24,404
3 years$18,429$17,907$17,404$16,920$16,454$14,971
4 years$13,684$13,164$12,666$12,190$11,735$10,312
5 years$10,838$10,320$9,829$9,363$8,921$7,561
6 years$8,941$8,427$7,944$7,488$7,059$5,764
7 years$7,587$7,077$6,601$6,156$5,741$4,510
8 years$6,571$6,067$5,598$5,164$4,762$3,596
9 years$5,782$5,282$4,822$4,399$4,011$2,907
10 years$5,151$4,656$4,204$3,792$3,417$2,375
11 years$4,635$4,145$3,701$3,300$2,939$1,957
12 years$4,205$3,720$3,284$2,895$2,547$1,623
13 years$3,842$3,362$2,934$2,555$2,221$1,353
14 years$3,531$3,056$2,637$2,268$1,947$1,132
15 years$3,261$2,792$2,381$2,023$1,714$951
16 years$3,026$2,561$2,158$1,811$1,515$801
17 years$2,818$2,359$1,964$1,628$1,343$677
18 years$2,634$2,180$1,793$1,467$1,194$573
19 years$2,469$2,020$1,641$1,325$1,065$485
20 years$2,321$1,877$1,506$1,200$951$412
21 years$2,188$1,749$1,385$1,089$851$350
22 years$2,066$1,632$1,277$991$763$298
23 years$1,955$1,527$1,179$902$685$254
24 years$1,854$1,430$1,090$823$615$216
25 years$1,761$1,342$1,010$751$554$184
26 years$1,675$1,261$937$687$499$157
27 years$1,596$1,187$870$629$450$134
28 years$1,522$1,119$809$576$406$114
29 years$1,454$1,055$752$528$366$98
30 years$1,390$997$701$485$331$83
31 years$1,331$942$653$445$299$71
32 years$1,275$892$610$409$271$61
33 years$1,223$844$569$376$245$52
34 years$1,174$800$532$346$222$44
35 years$1,128$759$497$319$201$38
36 years$1,085$720$465$294$182$32
37 years$1,044$684$435$271$165$28
38 years$1,005$650$408$249$150$24
39 years$968$618$382$230$136$20
40 years$934$588$358$212$123$17
41 years$901$560$336$196$112$15
42 years$870$533$315$181$101$13
43 years$840$508$296$167$92$11
44 years$812$484$277$154$83$9
45 years$785$462$260$142$76$8
46 years$759$441$245$131$69$7
47 years$734$420$230$121$62$6
48 years$711$401$216$112$57$5
49 years$688$383$203$104$52$4
50 years$667$366$191$96$47$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $683,000, adding $3,950 every year, while hoping to spend $21,421 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: 63/19/18 Blend
55$683,000$683,000$683,000$683,000
56$756,740$720,541$709,955$800,734
57$811,136$733,056$710,947$843,316
58$870,362$745,466$711,254$887,023
59$934,889$757,744$710,830$934,248
60$1,005,234$769,859$709,629$985,337
61$1,081,965$781,780$707,599$1,040,670
62$1,165,711$793,472$704,689$1,100,665
63$1,257,160$804,899$700,843$1,165,784
64$1,357,072$816,021$696,003$1,236,534
65$1,466,284$826,796$690,109$1,313,477
66$1,585,715$837,179$683,098$1,397,231
67$1,716,378$847,122$674,902$1,488,479
68$1,859,391$856,573$665,453$1,587,970
69$2,015,980$865,476$654,678$1,696,535
70$2,187,501$873,775$642,500$1,815,086
71$2,375,441$881,406$628,840$1,944,631
72$2,581,444$888,302$613,613$2,086,280
73$2,807,316$894,393$596,734$2,241,259
74$3,055,047$899,604$578,109$2,410,916
75$3,326,830$903,853$557,645$2,596,741
76$3,625,081$907,056$535,240$2,800,375
77$3,952,459$909,121$510,790$3,023,627
78$4,311,895$909,953$484,186$3,268,492
79$4,706,616$909,449$455,314$3,537,169
80$5,140,178$907,499$424,055$3,832,083
81$5,616,499$903,989$390,283$4,155,908
82$6,139,892$898,795$353,868$4,511,590
83$6,715,113$891,788$314,675$4,902,379
84$7,347,399$882,830$272,561$5,331,858
85$8,042,519$871,774$227,377$5,803,975
86$8,806,831$858,465$178,968$6,323,084
87$9,647,337$842,740$127,173$6,893,985
88$10,571,755$824,423$71,823$7,521,968
89$11,588,585$803,332$12,741$8,212,868
90$12,707,195$779,270$0$8,973,113
91$13,937,906$752,031$0$9,819,455
92$15,292,088$721,396$0$10,753,284
93$16,782,272$687,135$0$11,780,804
94$18,422,261$649,002$0$12,911,549
95$20,227,267$606,738$0$14,156,029
96$22,214,051$560,071$0$15,525,824
97$24,401,080$508,711$0$17,033,698
98$26,808,704$452,352$0$18,693,718
99$29,459,346$390,670$0$20,521,386
100$32,377,711$323,325$0$22,533,787