Can I retire at age 56 with 641,000?

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 $641,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$52,933$52,462$52,002$51,553$51,114$49,360
2 years$26,205$25,717$25,244$24,785$24,340$22,590
3 years$17,296$16,806$16,334$15,880$15,442$13,752
4 years$12,843$12,354$11,887$11,441$11,014$9,396
5 years$10,172$9,686$9,225$8,787$8,372$6,832
6 years$8,391$7,909$7,455$7,027$6,625$5,162
7 years$7,120$6,642$6,195$5,778$5,388$4,003
8 years$6,167$5,694$5,254$4,847$4,470$3,162
9 years$5,426$4,957$4,525$4,128$3,764$2,531
10 years$4,834$4,370$3,945$3,559$3,207$2,047
11 years$4,350$3,890$3,473$3,097$2,758$1,669
12 years$3,947$3,491$3,083$2,717$2,390$1,370
13 years$3,606$3,155$2,754$2,398$2,084$1,129
14 years$3,314$2,868$2,474$2,129$1,827$935
15 years$3,061$2,620$2,234$1,899$1,609$777
16 years$2,840$2,404$2,026$1,700$1,422$647
17 years$2,645$2,214$1,843$1,527$1,261$540
18 years$2,472$2,046$1,683$1,377$1,121$451
19 years$2,318$1,896$1,540$1,244$999$378
20 years$2,179$1,762$1,414$1,127$892$317
21 years$2,053$1,641$1,300$1,022$799$266
22 years$1,939$1,532$1,198$930$716$223
23 years$1,835$1,433$1,107$847$643$188
24 years$1,740$1,342$1,023$772$578$158
25 years$1,653$1,260$948$705$520$133
26 years$1,572$1,184$879$645$468$112
27 years$1,498$1,114$816$590$422$94
28 years$1,429$1,050$759$541$381$79
29 years$1,365$990$706$496$344$67
30 years$1,305$935$658$455$311$56
31 years$1,249$884$613$418$281$48
32 years$1,197$837$572$384$254$40
33 years$1,148$792$534$353$230$34
34 years$1,102$751$499$325$208$29
35 years$1,059$712$467$299$189$24
36 years$1,018$676$437$276$171$20
37 years$980$642$409$254$155$17
38 years$943$610$383$234$140$14
39 years$909$580$358$216$127$12
40 years$876$552$336$199$115$10
41 years$845$526$315$184$105$9
42 years$816$500$296$169$95$7
43 years$788$477$277$156$86$6
44 years$762$455$260$144$78$5
45 years$736$433$244$133$71$4
46 years$712$414$230$123$65$4
47 years$689$395$216$114$59$3
48 years$667$377$203$105$53$3
49 years$646$360$191$97$48$2
50 years$626$344$179$90$44$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $641,000, adding $4,686 every year, while hoping to spend $35,532 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: 58/37/5 Blend
55$641,000$641,000$641,000$641,000
56$711,216$677,243$667,307$751,540
57$745,954$672,622$651,856$774,519
58$783,044$666,584$634,697$795,089
59$822,690$659,021$615,734$816,611
60$865,112$649,821$594,869$839,176
61$910,554$638,863$571,998$862,890
62$959,284$626,020$547,012$887,866
63$1,011,593$611,157$519,799$914,235
64$1,067,803$594,131$490,240$942,139
65$1,128,267$574,792$458,211$971,741
66$1,193,372$552,978$423,583$1,003,218
67$1,263,543$528,522$386,221$1,036,770
68$1,339,248$501,243$345,982$1,072,619
69$1,420,999$470,952$302,721$1,111,011
70$1,509,362$437,449$256,283$1,152,222
71$1,604,955$400,523$206,507$1,196,558
72$1,708,461$359,948$153,225$1,244,358
73$1,820,627$315,489$96,262$1,296,001
74$1,942,279$266,896$35,434$1,351,906
75$2,074,322$213,904$0$1,412,541
76$2,217,751$156,234$0$1,479,997
77$2,373,664$93,592$0$1,555,395
78$2,543,265$25,665$0$1,637,494
79$2,727,882$0$0$1,727,013
80$2,928,973$0$0$1,844,243
81$3,148,146$0$0$1,983,452
82$3,387,167$0$0$2,135,320
83$3,647,982$0$0$2,301,090
84$3,932,733$0$0$2,482,129
85$4,243,778$0$0$2,679,944
86$4,583,711$0$0$2,896,191
87$4,955,390$0$0$3,132,697
88$5,361,961$0$0$3,391,471
89$5,806,887$0$0$3,674,727
90$6,293,983$0$0$3,984,900
91$6,827,449$0$0$4,324,674
92$7,411,910$0$0$4,697,004
93$8,052,460$0$0$5,105,146
94$8,754,708$0$0$5,552,683
95$9,524,835$0$0$6,043,563
96$10,369,644$0$0$6,582,135
97$11,296,632$0$0$7,173,188
98$12,314,055$0$0$7,821,998
99$13,431,009$0$0$8,534,378
100$14,657,510$0$0$9,316,728