Can I retire at age 56 with 643,000?

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 $643,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$53,098$52,625$52,164$51,714$51,274$49,772
2 years$26,286$25,797$25,322$24,862$24,416$22,915
3 years$17,350$16,858$16,385$15,929$15,491$14,038
4 years$12,883$12,393$11,924$11,476$11,048$9,654
5 years$10,203$9,716$9,254$8,815$8,399$7,068
6 years$8,417$7,934$7,478$7,049$6,645$5,379
7 years$7,142$6,663$6,215$5,796$5,405$4,202
8 years$6,186$5,711$5,270$4,862$4,484$3,344
9 years$5,443$4,973$4,539$4,141$3,776$2,699
10 years$4,849$4,383$3,958$3,570$3,217$2,201
11 years$4,364$3,902$3,484$3,107$2,767$1,810
12 years$3,959$3,502$3,092$2,725$2,398$1,498
13 years$3,617$3,165$2,763$2,406$2,091$1,246
14 years$3,324$2,877$2,482$2,136$1,833$1,041
15 years$3,070$2,628$2,241$1,905$1,614$872
16 years$2,849$2,411$2,032$1,705$1,426$733
17 years$2,653$2,221$1,849$1,532$1,265$618
18 years$2,480$2,052$1,688$1,381$1,124$522
19 years$2,325$1,902$1,545$1,248$1,002$441
20 years$2,185$1,767$1,418$1,130$895$374
21 years$2,059$1,646$1,304$1,026$801$317
22 years$1,945$1,537$1,202$933$718$269
23 years$1,841$1,437$1,110$849$645$228
24 years$1,745$1,347$1,027$775$579$194
25 years$1,658$1,264$951$707$521$165
26 years$1,577$1,188$882$647$470$140
27 years$1,502$1,118$819$592$423$120
28 years$1,433$1,053$761$542$382$102
29 years$1,369$994$708$497$345$87
30 years$1,309$938$660$456$312$74
31 years$1,253$887$615$419$282$63
32 years$1,201$839$574$385$255$54
33 years$1,152$795$536$354$231$46
34 years$1,105$753$501$326$209$39
35 years$1,062$715$468$300$189$33
36 years$1,021$678$438$276$171$28
37 years$983$644$410$255$155$24
38 years$946$612$384$235$141$21
39 years$912$582$360$216$128$18
40 years$879$554$337$200$116$15
41 years$848$527$316$184$105$13
42 years$819$502$296$170$95$11
43 years$791$478$278$157$87$9
44 years$764$456$261$145$79$8
45 years$739$435$245$134$71$7
46 years$714$415$230$124$65$6
47 years$691$396$216$114$59$5
48 years$669$378$203$106$53$4
49 years$648$361$191$98$49$4
50 years$628$345$180$90$44$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $643,000, adding $5,830 every year, while hoping to spend $27,392 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: 46/30/24 Blend
55$643,000$643,000$643,000$643,000
56$714,600$680,521$670,554$742,310
57$758,344$684,721$663,873$766,599
58$805,632$688,210$656,050$789,791
59$856,797$690,922$647,017$814,407
60$912,203$692,790$636,706$840,592
61$972,254$693,743$625,041$868,509
62$1,037,390$693,703$611,946$898,340
63$1,108,098$692,588$597,341$930,284
64$1,184,912$690,314$581,140$964,566
65$1,268,421$686,787$563,256$1,001,432
66$1,359,271$681,911$543,596$1,041,157
67$1,458,175$675,582$522,065$1,084,045
68$1,565,914$667,691$498,559$1,130,434
69$1,683,352$658,122$472,975$1,180,698
70$1,811,436$646,753$445,202$1,235,253
71$1,951,211$633,452$415,125$1,294,557
72$2,103,825$618,082$382,623$1,359,120
73$2,270,545$600,497$347,570$1,429,507
74$2,452,762$580,543$309,835$1,506,342
75$2,652,009$558,056$269,281$1,590,317
76$2,869,976$532,862$225,763$1,682,198
77$3,108,520$504,779$179,133$1,782,832
78$3,369,688$473,612$129,233$1,893,157
79$3,655,735$439,158$75,901$2,014,211
80$3,969,142$401,199$18,966$2,147,142
81$4,312,644$359,506$0$2,293,220
82$4,689,249$313,838$0$2,464,551
83$5,102,276$263,939$0$2,657,863
84$5,555,374$209,539$0$2,870,061
85$6,052,568$150,351$0$3,103,094
86$6,598,287$86,076$0$3,359,112
87$7,197,413$16,395$0$3,640,490
88$7,855,323$0$0$3,949,847
89$8,577,938$0$0$4,309,558
90$9,371,782$0$0$4,710,753
91$10,244,044$0$0$5,151,660
92$11,202,642$0$0$5,636,293
93$12,256,298$0$0$6,169,072
94$13,414,624$0$0$6,754,868
95$14,688,206$0$0$7,399,046
96$16,088,710$0$0$8,107,519
97$17,628,988$0$0$8,886,799
98$19,323,201$0$0$9,744,064
99$21,186,949$0$0$10,687,221
100$23,237,422$0$0$11,724,981