Can I retire at age 56 with 628,000?

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 $628,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$51,860$51,398$50,947$50,507$50,078$48,867
2 years$25,673$25,195$24,732$24,282$23,846$22,634
3 years$16,945$16,465$16,003$15,558$15,129$13,953
4 years$12,582$12,104$11,646$11,209$10,790$9,659
5 years$9,965$9,489$9,038$8,609$8,203$7,120
6 years$8,221$7,749$7,304$6,885$6,490$5,457
7 years$6,976$6,507$6,070$5,660$5,278$4,295
8 years$6,042$5,578$5,147$4,748$4,379$3,444
9 years$5,316$4,857$4,434$4,045$3,688$2,801
10 years$4,736$4,281$3,865$3,486$3,142$2,303
11 years$4,262$3,811$3,403$3,034$2,702$1,910
12 years$3,867$3,421$3,020$2,661$2,342$1,594
13 years$3,533$3,091$2,698$2,350$2,042$1,338
14 years$3,247$2,810$2,424$2,086$1,790$1,127
15 years$2,999$2,567$2,189$1,860$1,576$954
16 years$2,782$2,355$1,984$1,666$1,393$809
17 years$2,591$2,169$1,806$1,496$1,235$688
18 years$2,422$2,004$1,648$1,349$1,098$587
19 years$2,271$1,857$1,509$1,219$979$501
20 years$2,134$1,726$1,385$1,104$874$429
21 years$2,011$1,608$1,274$1,002$782$367
22 years$1,900$1,501$1,174$911$701$315
23 years$1,798$1,404$1,084$829$630$270
24 years$1,705$1,315$1,003$756$566$232
25 years$1,619$1,234$929$691$509$199
26 years$1,540$1,160$861$632$459$171
27 years$1,467$1,092$800$578$414$147
28 years$1,400$1,029$743$530$373$127
29 years$1,337$970$692$486$337$109
30 years$1,278$916$644$446$304$94
31 years$1,224$866$601$409$275$81
32 years$1,173$820$561$376$249$70
33 years$1,125$776$523$346$225$60
34 years$1,080$736$489$318$204$52
35 years$1,037$698$457$293$185$45
36 years$997$662$428$270$167$39
37 years$960$629$400$249$152$33
38 years$924$598$375$229$138$29
39 years$890$569$351$211$125$25
40 years$859$541$329$195$113$21
41 years$828$515$309$180$103$18
42 years$800$490$290$166$93$16
43 years$772$467$272$153$85$14
44 years$746$445$255$141$77$12
45 years$721$425$239$131$70$10
46 years$698$405$225$121$63$9
47 years$675$387$211$112$57$8
48 years$654$369$199$103$52$7
49 years$633$352$187$95$47$6
50 years$613$337$175$88$43$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $628,000, adding $4,814 every year, while hoping to spend $29,935 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: 51/28/21 Blend
55$628,000$628,000$628,000$628,000
56$697,022$663,738$654,004$728,273
57$736,267$664,410$644,062$751,049
58$778,513$664,112$632,784$772,330
59$824,032$662,765$620,094$794,838
60$873,127$660,284$605,911$818,701
61$926,129$656,581$590,151$844,061
62$983,400$651,560$572,728$871,076
63$1,045,343$645,122$553,550$899,920
64$1,112,394$637,159$532,520$930,790
65$1,185,038$627,560$509,540$963,901
66$1,263,807$616,205$484,504$999,495
67$1,349,283$602,967$457,303$1,037,839
68$1,442,110$587,712$427,822$1,079,230
69$1,542,994$570,299$395,943$1,123,998
70$1,652,712$550,576$361,540$1,172,508
71$1,772,120$528,386$324,483$1,225,167
72$1,902,159$503,560$284,636$1,282,424
73$2,043,864$475,919$241,856$1,344,778
74$2,198,376$445,277$195,996$1,412,783
75$2,366,947$411,432$146,899$1,487,051
76$2,550,960$374,177$94,404$1,568,261
77$2,751,933$333,287$38,342$1,657,166
78$2,971,540$288,528$0$1,754,599
79$3,211,623$239,651$0$1,866,296
80$3,474,209$186,394$0$1,997,946
81$3,761,531$128,481$0$2,142,121
82$4,076,048$65,617$0$2,300,117
83$4,420,468$0$0$2,473,364
84$4,797,771$0$0$2,664,214
85$5,211,241$0$0$2,895,578
86$5,664,494$0$0$3,149,268
87$6,161,512$0$0$3,427,522
88$6,706,683$0$0$3,732,805
89$7,304,837$0$0$4,067,830
90$7,961,296$0$0$4,435,587
91$8,681,922$0$0$4,839,371
92$9,473,172$0$0$5,282,808
93$10,342,158$0$0$5,769,894
94$11,296,717$0$0$6,305,033
95$12,345,480$0$0$6,893,075
96$13,497,957$0$0$7,539,362
97$14,764,623$0$0$8,249,781
98$16,157,020$0$0$9,030,817
99$17,687,864$0$0$9,889,614
100$19,371,163$0$0$10,834,045