Can I retire at age 56 with 631,000?

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 $631,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$52,107$51,643$51,190$50,748$50,317$50,021
2 years$25,796$25,315$24,850$24,398$23,960$23,662
3 years$17,026$16,544$16,079$15,632$15,201$14,909
4 years$12,642$12,161$11,702$11,262$10,842$10,559
5 years$10,013$9,535$9,081$8,650$8,242$7,968
6 years$8,260$7,786$7,339$6,918$6,521$6,258
7 years$7,009$6,539$6,099$5,687$5,304$5,050
8 years$6,071$5,605$5,172$4,771$4,400$4,157
9 years$5,342$4,880$4,455$4,064$3,705$3,472
10 years$4,759$4,301$3,884$3,503$3,157$2,934
11 years$4,282$3,829$3,419$3,049$2,715$2,502
12 years$3,885$3,437$3,034$2,674$2,353$2,150
13 years$3,549$3,106$2,711$2,361$2,052$1,858
14 years$3,262$2,823$2,436$2,096$1,799$1,614
15 years$3,013$2,579$2,199$1,869$1,584$1,408
16 years$2,796$2,366$1,994$1,674$1,400$1,233
17 years$2,604$2,179$1,814$1,504$1,241$1,083
18 years$2,434$2,014$1,656$1,355$1,103$953
19 years$2,281$1,866$1,516$1,224$984$841
20 years$2,145$1,734$1,392$1,109$879$744
21 years$2,021$1,615$1,280$1,006$786$659
22 years$1,909$1,508$1,180$915$705$585
23 years$1,806$1,410$1,089$833$633$519
24 years$1,713$1,321$1,007$760$569$462
25 years$1,627$1,240$933$694$512$411
26 years$1,548$1,165$865$635$461$367
27 years$1,474$1,097$804$581$415$327
28 years$1,406$1,034$747$532$375$292
29 years$1,343$975$695$488$339$260
30 years$1,284$921$648$448$306$233
31 years$1,230$870$604$411$277$208
32 years$1,178$824$563$378$250$186
33 years$1,130$780$526$348$226$166
34 years$1,085$739$491$320$205$149
35 years$1,042$701$459$295$186$133
36 years$1,002$666$430$271$168$119
37 years$964$632$402$250$152$107
38 years$929$601$377$230$138$96
39 years$895$571$353$212$125$86
40 years$863$543$331$196$114$77
41 years$832$517$310$181$103$69
42 years$803$493$291$167$94$62
43 years$776$469$273$154$85$55
44 years$750$447$256$142$77$50
45 years$725$427$241$131$70$45
46 years$701$407$226$121$64$40
47 years$678$388$212$112$58$36
48 years$657$371$200$104$52$32
49 years$636$354$188$96$48$29
50 years$616$338$176$88$43$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $631,000, adding $6,060 every year, while hoping to spend $53,156 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: 42/41/17 Blend
55$631,000$631,000$631,000$631,000
56$701,613$668,170$658,389$727,354
57$716,620$644,353$623,888$722,305
58$731,376$617,587$586,449$711,168
59$745,799$587,672$545,918$697,982
60$759,799$554,395$502,134$682,587
61$773,270$517,533$454,928$664,809
62$786,099$476,848$404,123$644,460
63$798,157$432,088$349,537$621,342
64$809,298$382,990$290,975$595,241
65$819,362$329,272$228,238$565,924
66$828,169$270,638$161,117$533,147
67$835,519$206,777$89,391$496,642
68$841,190$137,357$12,834$456,126
69$844,933$62,029$0$411,291
70$846,474$0$0$374,300
71$845,505$0$0$344,434
72$841,687$0$0$341,190
73$834,642$0$0$336,406
74$823,953$0$0$329,887
75$809,156$0$0$321,416
76$789,735$0$0$310,755
77$765,122$0$0$297,638
78$734,686$0$0$281,772
79$697,728$0$0$262,830
80$653,476$0$0$240,455
81$601,074$0$0$214,249
82$539,577$0$0$183,771
83$467,939$0$0$148,536
84$385,003$0$0$108,007
85$289,492$0$0$61,590
86$179,994$0$0$8,629
87$54,947$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