Can I retire at age 56 with 686,000?

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 $686,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$56,649$56,145$55,652$55,172$54,703$53,402
2 years$28,044$27,522$27,016$26,525$26,049$24,746
3 years$18,510$17,986$17,481$16,995$16,526$15,262
4 years$13,744$13,222$12,722$12,244$11,787$10,571
5 years$10,886$10,366$9,873$9,404$8,960$7,796
6 years$8,980$8,464$7,978$7,521$7,090$5,979
7 years$7,620$7,108$6,630$6,183$5,766$4,708
8 years$6,600$6,093$5,623$5,187$4,783$3,778
9 years$5,807$5,305$4,843$4,418$4,028$3,074
10 years$5,174$4,676$4,222$3,808$3,432$2,529
11 years$4,655$4,163$3,717$3,315$2,952$2,098
12 years$4,224$3,737$3,299$2,907$2,558$1,753
13 years$3,859$3,377$2,947$2,567$2,231$1,472
14 years$3,546$3,069$2,648$2,278$1,955$1,241
15 years$3,276$2,804$2,391$2,032$1,722$1,051
16 years$3,039$2,573$2,168$1,819$1,522$892
17 years$2,831$2,369$1,973$1,635$1,349$760
18 years$2,646$2,189$1,801$1,473$1,200$648
19 years$2,480$2,029$1,648$1,331$1,069$554
20 years$2,331$1,885$1,513$1,206$955$474
21 years$2,197$1,756$1,392$1,094$855$406
22 years$2,075$1,639$1,283$995$766$348
23 years$1,964$1,533$1,184$906$688$299
24 years$1,862$1,437$1,095$826$618$257
25 years$1,769$1,348$1,014$755$556$221
26 years$1,682$1,267$941$690$501$190
27 years$1,603$1,192$874$632$452$164
28 years$1,529$1,124$812$579$408$141
29 years$1,460$1,060$756$531$368$122
30 years$1,396$1,001$704$487$333$105
31 years$1,337$946$656$447$301$90
32 years$1,281$895$612$411$272$78
33 years$1,229$848$572$378$246$67
34 years$1,179$804$534$348$223$58
35 years$1,133$762$499$320$202$50
36 years$1,090$724$467$295$183$43
37 years$1,048$687$437$272$166$37
38 years$1,010$653$409$250$150$32
39 years$973$621$384$231$136$28
40 years$938$591$360$213$124$24
41 years$905$562$337$196$112$21
42 years$873$536$316$181$102$18
43 years$844$510$297$167$92$15
44 years$815$486$279$155$84$13
45 years$788$464$262$143$76$11
46 years$762$443$246$132$69$10
47 years$737$422$231$122$63$9
48 years$714$403$217$113$57$7
49 years$691$385$204$104$52$6
50 years$670$368$192$96$47$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $686,000, adding $6,899 every year, while hoping to spend $44,696 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: 60/16/24 Blend
55$686,000$686,000$686,000$686,000
56$763,088$726,730$716,097$803,601
57$793,367$714,784$692,530$819,985
58$825,236$700,754$666,676$832,404
59$858,811$684,492$638,410$844,982
60$894,216$665,838$607,604$857,743
61$931,589$644,627$574,121$870,716
62$971,078$620,681$537,821$883,933
63$1,012,845$593,811$498,555$897,436
64$1,057,069$563,821$456,170$911,268
65$1,103,941$530,500$410,503$925,484
66$1,153,675$493,627$361,387$940,145
67$1,206,502$452,966$308,645$955,320
68$1,262,674$408,270$252,093$971,089
69$1,322,468$359,277$191,540$987,545
70$1,386,188$305,710$126,785$1,004,792
71$1,454,166$247,276$57,619$1,022,948
72$1,526,765$183,667$0$1,042,148
73$1,604,383$114,555$0$1,066,691
74$1,687,459$39,596$0$1,108,619
75$1,776,469$0$0$1,153,415
76$1,871,941$0$0$1,208,683
77$1,974,451$0$0$1,275,547
78$2,084,631$0$0$1,347,455
79$2,203,176$0$0$1,424,863
80$2,330,849$0$0$1,508,277
81$2,468,488$0$0$1,598,248
82$2,617,012$0$0$1,695,384
83$2,777,433$0$0$1,800,352
84$2,950,862$0$0$1,913,886
85$3,138,520$0$0$2,036,793
86$3,341,749$0$0$2,169,959
87$3,562,025$0$0$2,314,357
88$3,800,971$0$0$2,471,062
89$4,060,371$0$0$2,641,250
90$4,342,188$0$0$2,826,218
91$4,648,583$0$0$3,027,394
92$4,981,929$0$0$3,246,346
93$5,344,842$0$0$3,484,800
94$5,740,196$0$0$3,744,659
95$6,171,157$0$0$4,028,011
96$6,641,208$0$0$4,337,160
97$7,154,183$0$0$4,674,637
98$7,714,302$0$0$5,043,233
99$8,326,210$0$0$5,446,017
100$8,995,022$0$0$5,886,368