Can I retire at age 56 with 642,000?

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 $642,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$53,016$52,544$52,083$51,633$51,194$50,038
2 years$26,245$25,757$25,283$24,824$24,378$23,219
3 years$17,323$16,832$16,360$15,905$15,466$14,341
4 years$12,863$12,373$11,906$11,458$11,031$9,948
5 years$10,187$9,701$9,239$8,801$8,385$7,348
6 years$8,404$7,922$7,467$7,038$6,635$5,644
7 years$7,131$6,653$6,205$5,787$5,396$4,452
8 years$6,177$5,702$5,262$4,854$4,477$3,579
9 years$5,435$4,965$4,532$4,135$3,770$2,918
10 years$4,842$4,376$3,951$3,564$3,212$2,405
11 years$4,357$3,896$3,479$3,102$2,763$1,999
12 years$3,953$3,497$3,087$2,721$2,394$1,673
13 years$3,611$3,160$2,758$2,402$2,088$1,408
14 years$3,319$2,873$2,478$2,132$1,830$1,190
15 years$3,066$2,624$2,238$1,902$1,611$1,009
16 years$2,844$2,408$2,029$1,703$1,424$859
17 years$2,649$2,217$1,846$1,530$1,263$733
18 years$2,476$2,049$1,685$1,379$1,123$626
19 years$2,321$1,899$1,543$1,246$1,001$537
20 years$2,182$1,765$1,416$1,128$894$460
21 years$2,056$1,644$1,302$1,024$800$395
22 years$1,942$1,534$1,200$931$717$340
23 years$1,838$1,435$1,108$848$644$293
24 years$1,743$1,344$1,025$773$578$252
25 years$1,655$1,262$949$706$521$217
26 years$1,575$1,186$880$646$469$187
27 years$1,500$1,116$818$591$423$162
28 years$1,431$1,052$760$542$381$140
29 years$1,367$992$707$497$344$121
30 years$1,307$937$659$456$311$104
31 years$1,251$886$614$419$281$90
32 years$1,199$838$573$385$255$78
33 years$1,150$794$535$354$230$67
34 years$1,104$752$500$326$209$58
35 years$1,060$713$467$300$189$50
36 years$1,020$677$437$276$171$44
37 years$981$643$409$254$155$38
38 years$945$611$383$234$141$33
39 years$910$581$359$216$128$28
40 years$878$553$337$199$116$24
41 years$847$526$316$184$105$21
42 years$817$501$296$170$95$18
43 years$789$478$278$157$86$16
44 years$763$455$261$145$78$14
45 years$737$434$245$134$71$12
46 years$713$414$230$123$65$10
47 years$690$395$216$114$59$9
48 years$668$377$203$105$53$8
49 years$647$360$191$97$48$7
50 years$627$344$179$90$44$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $642,000, adding $3,099 every year, while hoping to spend $35,845 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: 52/38/10 Blend
55$642,000$642,000$642,000$642,000
56$710,681$676,655$666,704$745,641
57$745,031$671,672$650,899$764,806
58$781,684$665,244$633,364$781,525
59$820,837$657,261$614,003$798,871
60$862,704$647,609$592,714$816,911
61$907,524$636,166$569,394$835,722
62$955,555$622,802$543,932$855,389
63$1,007,083$607,380$516,215$876,009
64$1,062,419$589,756$486,122$897,692
65$1,121,907$569,775$453,528$920,560
66$1,185,923$547,275$418,303$944,750
67$1,254,880$522,085$380,309$970,416
68$1,329,233$494,022$339,405$997,732
69$1,409,480$462,895$295,440$1,026,892
70$1,496,170$428,499$248,260$1,058,112
71$1,589,903$390,619$197,701$1,091,635
72$1,691,343$349,029$143,593$1,127,733
73$1,801,217$303,489$85,760$1,166,708
74$1,920,324$253,743$24,017$1,208,899
75$2,049,545$199,524$0$1,254,682
76$2,189,847$140,549$0$1,308,947
77$2,342,294$76,519$0$1,370,721
78$2,508,057$7,117$0$1,437,981
79$2,688,424$0$0$1,511,334
80$2,884,811$0$0$1,619,881
81$3,098,778$0$0$1,741,446
82$3,332,040$0$0$1,874,035
83$3,586,487$0$0$2,018,729
84$3,864,196$0$0$2,176,719
85$4,167,456$0$0$2,349,314
86$4,498,786$0$0$2,537,957
87$4,860,958$0$0$2,744,235
88$5,257,026$0$0$2,969,897
89$5,690,351$0$0$3,216,868
90$6,164,633$0$0$3,487,267
91$6,683,949$0$0$3,783,428
92$7,252,787$0$0$4,107,923
93$7,876,089$0$0$4,463,581
94$8,559,299$0$0$4,853,521
95$9,308,411$0$0$5,281,176
96$10,130,029$0$0$5,750,329
97$11,031,425$0$0$6,265,146
98$12,020,609$0$0$6,830,214
99$13,106,406$0$0$7,450,590
100$14,298,534$0$0$8,131,840