Can I retire at age 57 with 656,000?

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 $656,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$54,172$53,689$53,219$52,759$52,310$52,002
2 years$26,818$26,318$25,834$25,365$24,910$24,599
3 years$17,701$17,199$16,716$16,252$15,804$15,500
4 years$13,143$12,643$12,165$11,708$11,271$10,977
5 years$10,410$9,913$9,441$8,993$8,568$8,284
6 years$8,588$8,094$7,630$7,192$6,780$6,506
7 years$7,287$6,798$6,340$5,913$5,514$5,250
8 years$6,312$5,827$5,377$4,960$4,574$4,321
9 years$5,553$5,073$4,631$4,225$3,852$3,610
10 years$4,947$4,472$4,038$3,642$3,282$3,050
11 years$4,452$3,981$3,555$3,170$2,823$2,601
12 years$4,039$3,573$3,155$2,780$2,446$2,235
13 years$3,690$3,229$2,818$2,454$2,133$1,932
14 years$3,391$2,935$2,532$2,179$1,870$1,678
15 years$3,133$2,681$2,286$1,943$1,646$1,464
16 years$2,906$2,460$2,073$1,740$1,455$1,282
17 years$2,707$2,266$1,886$1,563$1,290$1,126
18 years$2,530$2,094$1,722$1,409$1,147$991
19 years$2,372$1,940$1,576$1,273$1,023$875
20 years$2,230$1,803$1,447$1,153$913$774
21 years$2,101$1,679$1,331$1,046$817$685
22 years$1,984$1,568$1,226$951$733$608
23 years$1,878$1,466$1,132$866$658$540
24 years$1,781$1,374$1,047$790$591$480
25 years$1,691$1,289$970$722$532$428
26 years$1,609$1,212$900$660$479$381
27 years$1,533$1,140$835$604$432$340
28 years$1,462$1,074$777$553$390$303
29 years$1,396$1,014$723$507$352$271
30 years$1,335$957$673$466$318$242
31 years$1,278$905$628$428$288$216
32 years$1,225$856$586$393$260$193
33 years$1,175$811$547$361$235$173
34 years$1,128$769$511$333$213$155
35 years$1,084$729$478$306$193$139
36 years$1,042$692$447$282$175$124
37 years$1,003$657$418$260$158$111
38 years$965$625$392$239$144$100
39 years$930$594$367$221$130$89
40 years$897$565$344$204$118$80
41 years$865$538$322$188$107$72
42 years$835$512$302$173$97$64
43 years$807$488$284$160$88$58
44 years$779$465$266$148$80$52
45 years$754$444$250$137$73$46
46 years$729$423$235$126$66$42
47 years$705$404$221$116$60$37
48 years$683$386$207$108$54$33
49 years$661$368$195$99$49$30
50 years$640$352$183$92$45$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $656,000, adding $6,335 every year, while hoping to spend $40,975 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: 44/30/26 Blend
56$656,000$656,000$656,000$656,000
57$729,447$694,679$684,511$755,798
58$760,253$685,121$663,845$765,598
59$792,828$673,721$641,113$771,791
60$827,310$660,347$616,203$777,705
61$863,847$644,855$588,998$783,336
62$902,605$627,098$559,374$788,683
63$943,760$606,916$527,203$793,748
64$987,510$584,141$492,351$798,539
65$1,034,068$558,596$454,676$803,064
66$1,083,669$530,093$414,034$807,340
67$1,136,569$498,433$370,270$811,387
68$1,193,049$463,407$323,224$815,233
69$1,253,418$424,791$272,730$818,912
70$1,318,012$382,352$218,612$822,467
71$1,387,203$335,841$160,689$825,951
72$1,461,396$284,995$98,770$829,426
73$1,541,036$229,538$32,657$832,970
74$1,626,614$169,177$0$836,670
75$1,718,664$103,602$0$851,146
76$1,817,777$32,488$0$876,357
77$1,924,599$0$0$903,441
78$2,039,841$0$0$947,319
79$2,164,285$0$0$1,006,344
80$2,298,788$0$0$1,070,205
81$2,444,293$0$0$1,139,358
82$2,601,837$0$0$1,214,304
83$2,772,559$0$0$1,295,595
84$2,957,714$0$0$1,383,837
85$3,158,678$0$0$1,479,696
86$3,376,968$0$0$1,583,906
87$3,614,251$0$0$1,697,273
88$3,872,360$0$0$1,820,687
89$4,153,315$0$0$1,955,122
90$4,459,336$0$0$2,101,655
91$4,792,865$0$0$2,261,469
92$5,156,593$0$0$2,435,865
93$5,553,479$0$0$2,626,276
94$5,986,781$0$0$2,834,281
95$6,460,086$0$0$3,061,616
96$6,977,342$0$0$3,310,195
97$7,542,894$0$0$3,582,121
98$8,161,530$0$0$3,879,714
99$8,838,519$0$0$4,205,526
100$9,579,662$0$0$4,562,369