Can I retire at age 56 with 683,000?

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 $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%12.4%
1 years$56,402$55,899$55,409$54,931$54,463$53,917
2 years$27,922$27,402$26,898$26,409$25,935$25,385
3 years$18,429$17,907$17,404$16,920$16,454$15,917
4 years$13,684$13,164$12,666$12,190$11,735$11,215
5 years$10,838$10,320$9,829$9,363$8,921$8,420
6 years$8,941$8,427$7,944$7,488$7,059$6,577
7 years$7,587$7,077$6,601$6,156$5,741$5,279
8 years$6,571$6,067$5,598$5,164$4,762$4,320
9 years$5,782$5,282$4,822$4,399$4,011$3,588
10 years$5,151$4,656$4,204$3,792$3,417$3,014
11 years$4,635$4,145$3,701$3,300$2,939$2,554
12 years$4,205$3,720$3,284$2,895$2,547$2,180
13 years$3,842$3,362$2,934$2,555$2,221$1,872
14 years$3,531$3,056$2,637$2,268$1,947$1,616
15 years$3,261$2,792$2,381$2,023$1,714$1,400
16 years$3,026$2,561$2,158$1,811$1,515$1,218
17 years$2,818$2,359$1,964$1,628$1,343$1,062
18 years$2,634$2,180$1,793$1,467$1,194$929
19 years$2,469$2,020$1,641$1,325$1,065$814
20 years$2,321$1,877$1,506$1,200$951$714
21 years$2,188$1,749$1,385$1,089$851$628
22 years$2,066$1,632$1,277$991$763$553
23 years$1,955$1,527$1,179$902$685$488
24 years$1,854$1,430$1,090$823$615$430
25 years$1,761$1,342$1,010$751$554$380
26 years$1,675$1,261$937$687$499$336
27 years$1,596$1,187$870$629$450$297
28 years$1,522$1,119$809$576$406$263
29 years$1,454$1,055$752$528$366$233
30 years$1,390$997$701$485$331$207
31 years$1,331$942$653$445$299$183
32 years$1,275$892$610$409$271$163
33 years$1,223$844$569$376$245$144
34 years$1,174$800$532$346$222$128
35 years$1,128$759$497$319$201$114
36 years$1,085$720$465$294$182$101
37 years$1,044$684$435$271$165$90
38 years$1,005$650$408$249$150$80
39 years$968$618$382$230$136$71
40 years$934$588$358$212$123$63
41 years$901$560$336$196$112$56
42 years$870$533$315$181$101$50
43 years$840$508$296$167$92$44
44 years$812$484$277$154$83$39
45 years$785$462$260$142$76$35
46 years$759$441$245$131$69$31
47 years$734$420$230$121$62$28
48 years$711$401$216$112$57$25
49 years$688$383$203$104$52$22
50 years$667$366$191$96$47$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $683,000, adding $3,578 every year, while hoping to spend $34,382 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: 52/36/12 Blend
55$683,000$683,000$683,000$683,000
56$756,357$720,158$709,571$793,108
57$796,923$718,863$696,760$817,285
58$840,475$716,353$682,367$839,595
59$887,280$712,531$666,303$863,069
60$937,633$707,296$648,475$887,827
61$991,858$700,540$628,785$914,001
62$1,050,309$692,147$607,130$941,739
63$1,113,376$681,999$583,405$971,204
64$1,181,488$669,964$557,497$1,002,581
65$1,255,116$655,909$529,289$1,036,074
66$1,334,777$639,688$498,660$1,071,909
67$1,421,041$621,148$465,481$1,110,339
68$1,514,531$600,129$429,619$1,151,645
69$1,615,937$576,459$390,935$1,196,139
70$1,726,015$549,957$349,283$1,244,169
71$1,845,595$520,433$304,511$1,296,120
72$1,975,595$487,682$256,461$1,352,421
73$2,117,019$451,492$204,966$1,413,546
74$2,270,975$411,636$149,853$1,480,024
75$2,438,683$367,874$90,941$1,552,441
76$2,621,483$319,955$28,042$1,631,446
77$2,820,852$267,610$0$1,717,761
78$3,038,413$210,557$0$1,817,187
79$3,275,956$148,499$0$1,929,763
80$3,535,448$81,120$0$2,052,905
81$3,819,056$8,087$0$2,187,728
82$4,129,167$0$0$2,335,467
83$4,468,407$0$0$2,525,593
84$4,839,669$0$0$2,737,239
85$5,246,137$0$0$2,969,024
86$5,691,318$0$0$3,222,959
87$6,179,076$0$0$3,501,254
88$6,713,663$0$0$3,806,346
89$7,299,763$0$0$4,140,919
90$7,942,538$0$0$4,507,927
91$8,647,668$0$0$4,910,626
92$9,421,414$0$0$5,352,601
93$10,270,671$0$0$5,837,802
94$11,203,032$0$0$6,370,579
95$12,226,863$0$0$6,955,726
96$13,351,381$0$0$7,598,521
97$14,586,737$0$0$8,304,780
98$15,944,115$0$0$9,080,910
99$17,435,835$0$0$9,933,971
100$19,075,472$0$0$10,871,739