Can I retire at age 56 with 621,000?

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 $621,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$51,282$50,825$50,379$49,944$49,519$48,941
2 years$25,387$24,914$24,456$24,012$23,581$22,999
3 years$16,757$16,282$15,825$15,384$14,961$14,393
4 years$12,442$11,969$11,516$11,084$10,670$10,121
5 years$9,854$9,384$8,937$8,513$8,111$7,582
6 years$8,129$7,662$7,222$6,808$6,418$5,910
7 years$6,898$6,435$6,002$5,597$5,220$4,733
8 years$5,975$5,516$5,090$4,695$4,330$3,864
9 years$5,257$4,803$4,384$4,000$3,647$3,202
10 years$4,683$4,233$3,822$3,448$3,107$2,683
11 years$4,214$3,769$3,365$3,000$2,672$2,268
12 years$3,824$3,383$2,986$2,632$2,316$1,931
13 years$3,493$3,057$2,668$2,323$2,019$1,654
14 years$3,210$2,779$2,397$2,063$1,770$1,424
15 years$2,965$2,538$2,164$1,839$1,559$1,231
16 years$2,751$2,329$1,962$1,647$1,377$1,067
17 years$2,563$2,145$1,786$1,480$1,221$928
18 years$2,395$1,982$1,630$1,334$1,086$809
19 years$2,245$1,837$1,492$1,205$968$707
20 years$2,111$1,707$1,370$1,091$865$619
21 years$1,989$1,590$1,260$991$774$543
22 years$1,879$1,484$1,161$901$694$476
23 years$1,778$1,388$1,072$820$623$419
24 years$1,686$1,300$991$748$560$368
25 years$1,601$1,220$918$683$504$324
26 years$1,523$1,147$852$625$454$286
27 years$1,451$1,079$791$572$409$252
28 years$1,384$1,017$735$524$369$223
29 years$1,322$960$684$480$333$196
30 years$1,264$906$637$441$301$174
31 years$1,210$857$594$405$272$153
32 years$1,160$811$554$372$246$136
33 years$1,112$768$518$342$223$120
34 years$1,068$728$484$315$202$106
35 years$1,026$690$452$290$183$94
36 years$986$655$423$267$166$83
37 years$949$622$396$246$150$74
38 years$914$591$371$227$136$65
39 years$881$562$347$209$123$58
40 years$849$535$326$193$112$51
41 years$819$509$305$178$102$45
42 years$791$485$286$164$92$40
43 years$764$462$269$152$84$35
44 years$738$440$252$140$76$31
45 years$713$420$237$129$69$28
46 years$690$401$222$119$63$25
47 years$668$382$209$110$57$22
48 years$646$365$196$102$52$19
49 years$626$349$185$94$47$17
50 years$606$333$174$87$43$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $621,000, adding $5,835 every year, while hoping to spend $57,031 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: 50/23/27 Blend
55$621,000$621,000$621,000$621,000
56$690,361$657,448$647,822$719,354
57$700,097$628,982$608,844$711,730
58$708,915$597,210$566,648$697,285
59$716,661$561,910$521,067$680,458
60$723,163$522,846$471,926$661,048
61$728,230$479,771$419,040$638,839
62$731,650$432,420$362,219$613,598
63$733,188$380,518$301,262$585,072
64$732,579$323,769$235,961$552,987
65$729,534$261,866$166,097$517,048
66$723,728$194,479$91,443$476,934
67$714,804$121,263$11,761$432,297
68$702,362$41,854$0$382,761
69$685,963$0$0$349,028
70$665,118$0$0$325,705
71$639,286$0$0$310,187
72$607,868$0$0$291,551
73$570,203$0$0$269,431
74$525,555$0$0$243,420
75$473,116$0$0$213,072
76$411,987$0$0$177,890
77$341,177$0$0$137,327
78$259,590$0$0$90,777
79$166,016$0$0$37,571
80$59,115$0$0$0
81$0$0$0$0
82$0$0$0$0
83$0$0$0$0
84$0$0$0$0
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0