Can I retire at age 56 with 630,000?

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 $630,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$52,025$51,561$51,109$50,668$50,237$49,630
2 years$25,755$25,275$24,810$24,360$23,922$23,311
3 years$16,999$16,518$16,054$15,607$15,177$14,581
4 years$12,622$12,142$11,683$11,244$10,825$10,248
5 years$9,997$9,520$9,067$8,637$8,229$7,674
6 years$8,247$7,773$7,327$6,907$6,511$5,978
7 years$6,998$6,528$6,089$5,678$5,295$4,785
8 years$6,061$5,596$5,164$4,764$4,393$3,905
9 years$5,333$4,872$4,448$4,057$3,699$3,233
10 years$4,751$4,295$3,878$3,498$3,152$2,707
11 years$4,275$3,823$3,414$3,044$2,711$2,288
12 years$3,879$3,432$3,030$2,670$2,349$1,947
13 years$3,544$3,101$2,707$2,357$2,049$1,666
14 years$3,257$2,819$2,432$2,092$1,796$1,433
15 years$3,008$2,575$2,196$1,866$1,581$1,238
16 years$2,791$2,363$1,991$1,671$1,397$1,073
17 years$2,600$2,176$1,812$1,501$1,239$932
18 years$2,430$2,011$1,654$1,353$1,102$812
19 years$2,278$1,863$1,514$1,222$982$709
20 years$2,141$1,732$1,389$1,107$877$620
21 years$2,018$1,613$1,278$1,005$785$543
22 years$1,906$1,506$1,178$914$704$477
23 years$1,804$1,408$1,088$832$632$419
24 years$1,710$1,319$1,006$759$568$368
25 years$1,624$1,238$932$693$511$324
26 years$1,545$1,164$864$634$460$285
27 years$1,472$1,095$802$580$415$251
28 years$1,404$1,032$746$531$374$222
29 years$1,341$973$694$487$338$196
30 years$1,282$919$646$447$305$173
31 years$1,228$869$603$411$276$152
32 years$1,176$822$562$378$250$135
33 years$1,128$779$525$347$226$119
34 years$1,083$738$491$319$205$105
35 years$1,041$700$459$294$185$93
36 years$1,001$664$429$271$168$82
37 years$963$631$402$250$152$73
38 years$927$600$376$230$138$64
39 years$893$570$352$212$125$57
40 years$861$543$330$196$114$50
41 years$831$517$310$180$103$45
42 years$802$492$290$167$93$39
43 years$775$469$273$154$85$35
44 years$749$447$256$142$77$31
45 years$724$426$240$131$70$27
46 years$700$406$226$121$63$24
47 years$677$388$212$112$58$21
48 years$656$370$199$103$52$19
49 years$635$354$187$96$48$17
50 years$615$338$176$88$43$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $630,000, adding $6,867 every year, while hoping to spend $54,668 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: 44/27/29 Blend
55$630,000$630,000$630,000$630,000
56$701,343$667,953$658,188$726,040
57$714,714$642,517$622,071$718,920
58$727,616$614,001$582,912$705,487
59$739,945$582,199$540,551$689,889
60$751,581$546,889$494,822$671,957
61$762,393$507,837$445,549$651,508
62$772,234$464,798$392,552$628,346
63$780,939$417,511$335,640$602,262
64$788,326$365,699$274,614$573,028
65$794,189$309,072$209,267$540,401
66$798,301$247,322$139,383$504,120
67$800,412$180,124$64,736$463,902
68$800,238$107,135$0$419,444
69$797,471$27,993$0$375,036
70$791,762$0$0$347,385
71$782,729$0$0$333,276
72$769,946$0$0$325,621
73$752,942$0$0$315,873
74$731,194$0$0$303,777
75$704,123$0$0$289,052
76$671,089$0$0$271,385
77$631,383$0$0$250,431
78$584,220$0$0$225,807
79$528,731$0$0$197,092
80$463,958$0$0$163,818
81$388,839$0$0$125,468
82$302,201$0$0$81,472
83$202,748$0$0$31,199
84$89,046$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