Can I retire at age 56 with 629,000?

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 $629,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$51,942$51,480$51,028$50,588$50,157$49,510
2 years$25,714$25,235$24,771$24,321$23,884$23,233
3 years$16,972$16,491$16,028$15,583$15,153$14,518
4 years$12,602$12,123$11,665$11,226$10,807$10,194
5 years$9,981$9,505$9,052$8,623$8,216$7,625
6 years$8,234$7,761$7,316$6,896$6,501$5,934
7 years$6,987$6,518$6,079$5,669$5,287$4,744
8 years$6,052$5,587$5,156$4,756$4,386$3,867
9 years$5,325$4,864$4,441$4,051$3,694$3,198
10 years$4,744$4,288$3,871$3,492$3,147$2,675
11 years$4,269$3,817$3,408$3,039$2,707$2,257
12 years$3,873$3,426$3,025$2,666$2,346$1,918
13 years$3,538$3,096$2,702$2,353$2,045$1,640
14 years$3,252$2,814$2,428$2,089$1,793$1,409
15 years$3,004$2,571$2,192$1,863$1,579$1,215
16 years$2,787$2,359$1,988$1,668$1,395$1,052
17 years$2,596$2,172$1,809$1,499$1,237$913
18 years$2,426$2,007$1,651$1,351$1,100$794
19 years$2,274$1,860$1,511$1,221$980$692
20 years$2,138$1,729$1,387$1,105$876$605
21 years$2,015$1,610$1,276$1,003$784$529
22 years$1,903$1,503$1,176$912$702$463
23 years$1,801$1,406$1,086$831$631$406
24 years$1,707$1,317$1,004$758$567$357
25 years$1,622$1,236$930$692$510$313
26 years$1,543$1,162$863$633$459$275
27 years$1,470$1,093$801$579$414$242
28 years$1,402$1,030$745$531$374$213
29 years$1,339$972$693$487$337$188
30 years$1,280$918$645$447$305$166
31 years$1,226$868$602$410$276$146
32 years$1,174$821$561$377$249$129
33 years$1,126$778$524$347$226$114
34 years$1,081$737$490$319$204$100
35 years$1,039$699$458$294$185$88
36 years$999$663$428$270$168$78
37 years$961$630$401$249$152$69
38 years$926$599$375$230$138$61
39 years$892$569$352$212$125$54
40 years$860$542$330$195$113$47
41 years$830$516$309$180$103$42
42 years$801$491$290$166$93$37
43 years$773$468$272$153$85$33
44 years$747$446$255$142$77$29
45 years$722$425$240$131$70$26
46 years$699$406$225$121$63$23
47 years$676$387$212$112$58$20
48 years$655$370$199$103$52$18
49 years$634$353$187$95$47$16
50 years$614$337$176$88$43$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $629,000, adding $3,383 every year, while hoping to spend $20,973 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: 47/36/17 Blend
55$629,000$629,000$629,000$629,000
56$696,648$663,311$653,561$725,893
57$745,391$673,498$653,140$756,751
58$798,402$683,481$652,002$787,828
59$856,096$693,228$650,101$821,109
60$918,927$702,706$647,389$856,807
61$987,395$711,876$643,814$895,160
62$1,062,051$720,699$639,323$936,427
63$1,143,501$729,135$633,862$980,898
64$1,232,413$737,136$627,370$1,028,890
65$1,329,520$744,657$619,788$1,080,756
66$1,435,631$751,645$611,051$1,136,883
67$1,551,636$758,047$601,092$1,197,701
68$1,678,515$763,803$589,841$1,263,682
69$1,817,347$768,853$577,224$1,335,349
70$1,969,320$773,130$563,164$1,413,280
71$2,135,742$776,565$547,582$1,498,111
72$2,318,054$779,084$530,393$1,590,546
73$2,517,843$780,606$511,508$1,691,362
74$2,736,856$781,048$490,836$1,801,414
75$2,977,017$780,321$468,281$1,921,651
76$3,240,446$778,331$443,742$2,053,116
77$3,529,477$774,975$417,113$2,196,961
78$3,846,683$770,148$388,286$2,354,460
79$4,194,896$763,736$357,144$2,527,017
80$4,577,235$755,619$323,568$2,716,180
81$4,997,139$745,670$287,434$2,923,662
82$5,458,393$733,754$248,609$3,151,348
83$5,965,169$719,728$206,957$3,401,321
84$6,522,061$703,439$162,335$3,675,879
85$7,134,133$684,729$114,595$3,977,558
86$7,806,961$663,427$63,580$4,309,154
87$8,546,689$639,353$9,128$4,673,754
88$9,360,087$612,318$0$5,074,762
89$10,254,614$582,119$0$5,524,820
90$11,238,485$548,544$0$6,021,529
91$12,320,756$511,367$0$6,567,837
92$13,511,400$470,352$0$7,168,819
93$14,821,409$425,245$0$7,830,074
94$16,262,892$375,781$0$8,557,772
95$17,849,192$321,679$0$9,358,717
96$19,595,010$262,642$0$10,240,413
97$21,516,545$198,355$0$11,211,130
98$23,631,647$128,489$0$12,279,987
99$25,959,981$52,692$0$13,457,039
100$28,523,220$0$0$14,753,370