Can I retire at age 56 with 620,000?

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 $620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$51,199$50,743$50,298$49,864$49,440$48,422
2 years$25,346$24,874$24,417$23,973$23,543$22,522
3 years$16,730$16,255$15,799$15,360$14,936$13,944
4 years$12,422$11,949$11,498$11,066$10,653$9,697
5 years$9,838$9,369$8,923$8,500$8,098$7,182
6 years$8,116$7,650$7,211$6,797$6,408$5,532
7 years$6,887$6,425$5,992$5,588$5,211$4,375
8 years$5,965$5,507$5,082$4,688$4,323$3,528
9 years$5,249$4,795$4,377$3,993$3,641$2,885
10 years$4,676$4,226$3,816$3,442$3,102$2,385
11 years$4,207$3,763$3,360$2,996$2,668$1,989
12 years$3,817$3,377$2,982$2,628$2,312$1,670
13 years$3,488$3,052$2,664$2,320$2,016$1,410
14 years$3,205$2,774$2,393$2,059$1,767$1,195
15 years$2,961$2,534$2,161$1,836$1,556$1,018
16 years$2,747$2,325$1,959$1,644$1,375$869
17 years$2,558$2,141$1,783$1,477$1,219$744
18 years$2,391$1,979$1,627$1,331$1,084$639
19 years$2,242$1,834$1,490$1,203$966$549
20 years$2,107$1,704$1,367$1,090$863$473
21 years$1,986$1,587$1,258$989$772$408
22 years$1,875$1,482$1,159$899$692$352
23 years$1,775$1,386$1,070$819$622$304
24 years$1,683$1,298$990$747$559$263
25 years$1,598$1,218$917$682$503$228
26 years$1,521$1,145$850$624$453$197
27 years$1,449$1,078$790$571$408$171
28 years$1,382$1,016$734$523$368$148
29 years$1,320$958$683$480$333$128
30 years$1,262$905$636$440$301$111
31 years$1,208$855$593$404$272$97
32 years$1,158$809$553$372$246$84
33 years$1,110$766$517$342$222$73
34 years$1,066$726$483$314$201$63
35 years$1,024$689$451$289$182$55
36 years$985$654$422$267$165$48
37 years$948$621$395$246$150$41
38 years$912$590$370$226$136$36
39 years$879$561$347$209$123$31
40 years$848$534$325$192$112$27
41 years$818$508$305$178$101$24
42 years$789$484$286$164$92$21
43 years$762$461$268$151$83$18
44 years$737$440$252$140$76$16
45 years$712$419$236$129$69$14
46 years$689$400$222$119$62$12
47 years$667$382$209$110$57$10
48 years$645$364$196$102$51$9
49 years$625$348$184$94$47$8
50 years$605$332$173$87$42$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $620,000, adding $4,709 every year, while hoping to spend $27,422 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: 75/10/15 Blend
55$620,000$620,000$620,000$620,000
56$688,097$655,237$645,627$737,115
57$729,106$658,167$638,079$773,088
58$773,379$660,321$629,359$808,633
59$821,220$661,633$619,398$846,849
60$872,963$662,032$608,127$887,993
61$928,975$661,441$595,468$932,350
62$989,659$659,780$581,346$980,232
63$1,055,460$656,966$565,677$1,031,985
64$1,126,866$652,906$548,376$1,087,990
65$1,204,413$647,505$529,353$1,148,666
66$1,288,693$640,662$508,515$1,214,476
67$1,380,353$632,268$485,765$1,285,931
68$1,480,110$622,210$460,999$1,363,594
69$1,588,749$610,366$434,110$1,448,085
70$1,707,136$596,609$404,987$1,540,089
71$1,836,223$580,802$373,514$1,640,361
72$1,977,058$562,801$339,567$1,749,733
73$2,130,795$542,456$303,019$1,869,123
74$2,298,704$519,603$263,737$1,999,543
75$2,482,182$494,074$221,583$2,142,109
76$2,682,768$465,688$176,410$2,298,052
77$2,902,158$434,253$128,067$2,468,729
78$3,142,216$399,570$76,395$2,655,636
79$3,404,997$361,424$21,230$2,860,424
80$3,692,764$319,591$0$3,084,912
81$4,008,008$273,833$0$3,337,130
82$4,353,471$223,897$0$3,617,285
83$4,732,177$169,520$0$3,924,444
84$5,147,451$110,419$0$4,261,327
85$5,602,961$46,299$0$4,630,934
86$6,102,742$0$0$5,036,567
87$6,651,242$0$0$5,484,416
88$7,253,358$0$0$5,981,660
89$7,914,486$0$0$6,527,666
90$8,640,570$0$0$7,127,344
91$9,438,157$0$0$7,786,106
92$10,314,459$0$0$8,509,912
93$11,277,424$0$0$9,305,330
94$12,335,803$0$0$10,179,593
95$13,499,242$0$0$11,140,673
96$14,778,365$0$0$12,197,350
97$16,184,878$0$0$13,359,299
98$17,731,677$0$0$14,637,177
99$19,432,972$0$0$16,042,728
100$21,304,418$0$0$17,588,892