Can I retire at age 56 with 627,000?

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 $627,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$51,777$51,316$50,866$50,427$49,998$49,210
2 years$25,632$25,155$24,692$24,244$23,809$23,017
3 years$16,918$16,439$15,977$15,533$15,105$14,334
4 years$12,562$12,084$11,628$11,191$10,773$10,029
5 years$9,949$9,474$9,023$8,596$8,190$7,474
6 years$8,208$7,736$7,292$6,874$6,480$5,795
7 years$6,965$6,497$6,060$5,651$5,270$4,614
8 years$6,033$5,569$5,139$4,741$4,372$3,746
9 years$5,308$4,849$4,426$4,038$3,682$3,085
10 years$4,729$4,274$3,859$3,481$3,137$2,570
11 years$4,255$3,805$3,397$3,029$2,698$2,159
12 years$3,860$3,415$3,015$2,657$2,338$1,827
13 years$3,527$3,086$2,694$2,346$2,039$1,555
14 years$3,241$2,805$2,420$2,082$1,787$1,329
15 years$2,994$2,563$2,185$1,857$1,574$1,141
16 years$2,778$2,351$1,981$1,663$1,391$983
17 years$2,587$2,165$1,803$1,494$1,233$848
18 years$2,418$2,001$1,646$1,346$1,096$734
19 years$2,267$1,854$1,507$1,217$977$637
20 years$2,131$1,723$1,383$1,102$873$553
21 years$2,008$1,605$1,272$1,000$781$482
22 years$1,897$1,498$1,172$909$700$420
23 years$1,795$1,401$1,082$828$629$366
24 years$1,702$1,313$1,001$755$565$320
25 years$1,617$1,232$927$690$508$279
26 years$1,538$1,158$860$631$458$244
27 years$1,465$1,090$798$577$413$214
28 years$1,397$1,027$742$529$373$187
29 years$1,335$969$691$485$336$164
30 years$1,276$915$643$445$304$143
31 years$1,222$865$600$409$275$126
32 years$1,171$818$560$376$249$110
33 years$1,123$775$523$346$225$97
34 years$1,078$735$488$318$204$85
35 years$1,036$697$456$293$184$74
36 years$996$661$427$270$167$65
37 years$958$628$400$248$151$57
38 years$923$597$374$229$137$50
39 years$889$568$351$211$125$44
40 years$857$540$329$195$113$39
41 years$827$514$308$180$102$34
42 years$798$490$289$166$93$30
43 years$771$466$271$153$84$26
44 years$745$445$255$141$77$23
45 years$720$424$239$130$70$20
46 years$697$404$225$121$63$18
47 years$674$386$211$111$57$16
48 years$652$368$198$103$52$14
49 years$632$352$186$95$47$12
50 years$612$336$175$88$43$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $627,000, adding $3,137 every year, while hoping to spend $22,501 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: 83/8/9 Blend
55$627,000$627,000$627,000$627,000
56$694,190$660,959$651,240$750,694
57$741,056$669,405$649,116$796,561
58$791,949$677,511$646,166$843,586
59$847,255$685,236$642,340$894,536
60$907,400$692,537$637,583$949,791
61$972,851$699,368$631,839$1,009,772
62$1,044,125$705,681$625,049$1,074,940
63$1,121,789$711,422$617,151$1,145,804
64$1,206,466$716,536$608,080$1,222,923
65$1,298,842$720,963$597,767$1,306,914
66$1,399,675$724,641$586,143$1,398,458
67$1,509,796$727,502$573,133$1,498,302
68$1,630,120$729,475$558,658$1,607,271
69$1,761,657$730,484$542,638$1,726,275
70$1,905,517$730,449$524,987$1,856,313
71$2,062,921$729,282$505,616$1,998,488
72$2,235,217$726,895$484,432$2,154,016
73$2,423,886$723,190$461,337$2,324,235
74$2,630,561$718,064$436,230$2,510,620
75$2,857,038$711,410$409,005$2,714,796
76$3,105,299$703,112$379,549$2,938,554
77$3,377,522$693,047$347,747$3,183,868
78$3,676,111$681,087$313,477$3,452,912
79$4,003,708$667,095$276,613$3,748,082
80$4,363,229$650,925$237,022$4,072,018
81$4,757,881$632,424$194,565$4,427,630
82$5,191,201$611,428$149,099$4,818,125
83$5,667,082$587,766$100,472$5,247,035
84$6,189,814$561,256$48,527$5,718,255
85$6,764,122$531,705$0$6,236,076
86$7,395,212$498,908$0$6,805,889
87$8,088,819$462,651$0$7,437,259
88$8,851,263$422,704$0$8,131,280
89$9,689,503$378,828$0$8,894,300
90$10,611,209$330,768$0$9,733,312
91$11,624,831$278,254$0$10,656,021
92$12,739,677$221,001$0$11,670,919
93$13,966,005$158,711$0$12,787,361
94$15,315,114$91,065$0$14,015,658
95$16,799,458$17,729$0$15,367,169
96$18,432,753$0$0$16,854,414
97$20,230,117$0$0$18,496,615
98$22,208,204$0$0$20,305,670
99$24,385,367$0$0$22,296,804
100$26,781,826$0$0$24,488,512