Can I retire at age 56 with 637,000?

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 $637,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$52,603$52,134$51,677$51,231$50,795$49,872
2 years$26,041$25,556$25,086$24,630$24,188$23,261
3 years$17,188$16,701$16,232$15,781$15,346$14,444
4 years$12,763$12,277$11,813$11,369$10,945$10,075
5 years$10,108$9,625$9,167$8,733$8,320$7,485
6 years$8,339$7,860$7,409$6,984$6,583$5,784
7 years$7,076$6,601$6,157$5,742$5,354$4,591
8 years$6,129$5,658$5,221$4,816$4,442$3,714
9 years$5,393$4,926$4,497$4,103$3,741$3,048
10 years$4,804$4,342$3,921$3,536$3,187$2,529
11 years$4,323$3,866$3,452$3,078$2,741$2,117
12 years$3,922$3,470$3,063$2,700$2,375$1,784
13 years$3,583$3,136$2,737$2,383$2,071$1,512
14 years$3,293$2,850$2,459$2,116$1,816$1,288
15 years$3,042$2,604$2,220$1,887$1,599$1,101
16 years$2,822$2,389$2,013$1,689$1,413$944
17 years$2,629$2,200$1,832$1,518$1,253$812
18 years$2,457$2,033$1,672$1,368$1,114$700
19 years$2,303$1,884$1,531$1,236$993$604
20 years$2,165$1,751$1,405$1,120$887$523
21 years$2,040$1,631$1,292$1,016$794$453
22 years$1,927$1,522$1,191$924$711$393
23 years$1,824$1,424$1,100$841$639$341
24 years$1,729$1,334$1,017$767$574$296
25 years$1,642$1,252$942$701$516$258
26 years$1,562$1,177$874$641$465$224
27 years$1,488$1,107$811$586$419$195
28 years$1,420$1,043$754$537$378$170
29 years$1,356$984$702$493$342$148
30 years$1,297$930$654$452$309$129
31 years$1,241$879$609$415$279$113
32 years$1,189$831$569$382$253$98
33 years$1,141$787$531$351$229$86
34 years$1,095$746$496$323$207$75
35 years$1,052$708$464$297$187$65
36 years$1,012$672$434$274$170$57
37 years$974$638$406$252$154$50
38 years$937$606$380$233$140$44
39 years$903$577$356$214$127$38
40 years$871$549$334$198$115$33
41 years$840$522$313$182$104$29
42 years$811$497$294$168$94$25
43 years$783$474$276$155$86$22
44 years$757$452$259$144$78$19
45 years$732$431$243$133$71$17
46 years$708$411$228$122$64$15
47 years$685$392$214$113$58$13
48 years$663$374$201$105$53$11
49 years$642$357$189$97$48$10
50 years$622$341$178$89$44$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $637,000, adding $3,004 every year, while hoping to spend $38,276 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: 26/46/28 Blend
55$637,000$637,000$637,000$637,000
56$705,073$671,312$661,438$717,178
57$736,265$663,481$642,871$719,524
58$769,355$653,983$622,399$718,573
59$804,498$642,697$599,918$716,768
60$841,861$629,492$575,319$714,063
61$881,626$614,233$548,487$710,411
62$923,995$596,774$519,305$705,766
63$969,188$576,961$487,647$700,081
64$1,017,445$554,632$453,383$693,308
65$1,069,031$529,615$416,378$685,401
66$1,124,234$501,729$376,489$676,314
67$1,183,372$470,780$333,567$666,003
68$1,246,793$436,565$287,459$654,424
69$1,314,879$398,869$238,001$641,535
70$1,388,048$357,465$185,025$627,299
71$1,466,760$312,112$128,355$611,680
72$1,551,520$262,556$67,806$594,647
73$1,642,883$208,530$3,186$576,174
74$1,741,459$149,749$0$556,241
75$1,847,915$85,914$0$554,485
76$1,962,988$16,710$0$553,544
77$2,087,486$0$0$552,535
78$2,222,298$0$0$581,001
79$2,368,399$0$0$621,107
80$2,526,865$0$0$664,700
81$2,698,877$0$0$712,116
82$2,885,733$0$0$763,728
83$3,088,863$0$0$819,941
84$3,309,839$0$0$881,205
85$3,550,391$0$0$948,013
86$3,812,422$0$0$1,020,909
87$4,098,026$0$0$1,100,491
88$4,409,510$0$0$1,187,416
89$4,749,410$0$0$1,282,411
90$5,120,518$0$0$1,386,271
91$5,525,910$0$0$1,499,877
92$5,968,969$0$0$1,624,195
93$6,453,422$0$0$1,760,290
94$6,983,371$0$0$1,909,336
95$7,563,333$0$0$2,072,623
96$8,198,283$0$0$2,251,575
97$8,893,698$0$0$2,447,757
98$9,655,609$0$0$2,662,895
99$10,490,660$0$0$2,898,890
100$11,406,167$0$0$3,157,834