Can I retire at age 56 with 634,000?

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 $634,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$52,355$51,889$51,434$50,990$50,556$49,821
2 years$25,918$25,436$24,968$24,514$24,074$23,335
3 years$17,107$16,622$16,156$15,707$15,274$14,554
4 years$12,703$12,219$11,757$11,316$10,893$10,198
5 years$10,060$9,580$9,124$8,692$8,281$7,612
6 years$8,300$7,823$7,374$6,951$6,552$5,911
7 years$7,042$6,570$6,128$5,715$5,329$4,715
8 years$6,100$5,631$5,197$4,794$4,421$3,835
9 years$5,367$4,903$4,476$4,083$3,723$3,164
10 years$4,781$4,322$3,902$3,520$3,172$2,640
11 years$4,302$3,848$3,435$3,063$2,728$2,222
12 years$3,904$3,453$3,049$2,687$2,364$1,884
13 years$3,566$3,121$2,724$2,372$2,062$1,606
14 years$3,278$2,837$2,447$2,106$1,807$1,376
15 years$3,027$2,591$2,210$1,878$1,591$1,184
16 years$2,809$2,378$2,003$1,681$1,406$1,021
17 years$2,616$2,190$1,823$1,511$1,247$884
18 years$2,445$2,023$1,664$1,362$1,109$767
19 years$2,292$1,875$1,524$1,230$988$667
20 years$2,155$1,743$1,398$1,114$883$580
21 years$2,031$1,623$1,286$1,011$790$506
22 years$1,918$1,515$1,185$919$708$442
23 years$1,815$1,417$1,094$837$636$386
24 years$1,721$1,328$1,012$764$571$338
25 years$1,635$1,246$937$697$514$296
26 years$1,555$1,171$869$638$463$260
27 years$1,481$1,102$807$584$417$228
28 years$1,413$1,038$751$535$377$200
29 years$1,350$980$698$490$340$175
30 years$1,291$925$651$450$307$154
31 years$1,235$875$607$413$278$135
32 years$1,184$828$566$380$251$119
33 years$1,135$784$528$349$227$105
34 years$1,090$743$494$321$206$92
35 years$1,047$705$462$296$187$81
36 years$1,007$669$432$273$169$71
37 years$969$635$404$251$153$63
38 years$933$604$378$231$139$55
39 years$899$574$355$213$126$49
40 years$867$546$332$197$114$43
41 years$836$520$312$182$104$38
42 years$807$495$292$168$94$33
43 years$780$472$274$155$85$29
44 years$753$450$257$143$77$26
45 years$728$429$242$132$70$23
46 years$704$409$227$122$64$20
47 years$682$390$213$113$58$18
48 years$660$373$200$104$53$15
49 years$639$356$188$96$48$14
50 years$619$340$177$89$43$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $634,000, adding $4,217 every year, while hoping to spend $21,412 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: 22/48/30 Blend
55$634,000$634,000$634,000$634,000
56$703,018$669,416$659,589$711,766
57$751,943$679,435$658,903$729,979
58$805,142$689,227$657,476$747,405
59$863,026$698,760$655,262$765,593
60$926,051$707,995$652,209$784,619
61$994,717$716,896$648,267$804,570
62$1,069,575$725,420$643,380$825,541
63$1,151,230$733,524$637,492$847,639
64$1,240,349$741,160$630,542$870,984
65$1,337,667$748,279$622,467$895,709
66$1,443,991$754,827$613,202$921,962
67$1,560,212$760,748$602,678$949,910
68$1,687,309$765,980$590,823$979,737
69$1,826,360$770,459$577,562$1,011,648
70$1,978,554$774,116$562,815$1,045,874
71$2,145,197$776,878$546,499$1,082,667
72$2,327,730$778,668$528,530$1,122,312
73$2,527,738$779,402$508,816$1,165,124
74$2,746,969$778,994$487,262$1,211,452
75$2,987,345$777,351$463,771$1,261,686
76$3,250,985$774,372$438,239$1,316,257
77$3,540,223$769,954$410,557$1,375,645
78$3,857,629$763,985$380,614$1,440,382
79$4,206,034$756,347$348,291$1,511,059
80$4,588,557$746,915$313,466$1,588,331
81$5,008,632$735,556$276,010$1,672,923
82$5,470,044$722,130$235,788$1,765,641
83$5,976,962$706,488$192,660$1,867,378
84$6,533,979$688,472$146,480$1,979,122
85$7,146,153$667,915$97,096$2,101,967
86$7,819,058$644,641$44,346$2,237,129
87$8,558,836$618,463$0$2,385,948
88$9,372,252$589,182$0$2,553,736
89$10,266,759$556,589$0$2,753,713
90$11,250,570$520,463$0$2,973,546
91$12,332,732$480,570$0$3,215,311
92$13,523,215$436,662$0$3,481,300
93$14,833,002$388,478$0$3,774,043
94$16,274,196$335,741$0$4,096,335
95$17,860,131$278,159$0$4,451,261
96$19,605,499$215,424$0$4,842,228
97$21,526,489$147,209$0$5,272,994
98$23,640,939$73,170$0$5,747,711
99$25,968,503$0$0$6,270,960
100$28,530,839$0$0$6,851,524