Can I retire at age 56 with 645,000?

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 $645,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$53,263$52,789$52,326$51,874$51,433$50,644
2 years$26,368$25,877$25,401$24,940$24,492$23,699
3 years$17,404$16,911$16,436$15,979$15,539$14,766
4 years$12,923$12,431$11,961$11,512$11,082$10,336
5 years$10,235$9,746$9,282$8,842$8,425$7,707
6 years$8,444$7,959$7,502$7,071$6,666$5,978
7 years$7,165$6,684$6,234$5,814$5,421$4,763
8 years$6,206$5,729$5,287$4,877$4,498$3,869
9 years$5,460$4,988$4,554$4,154$3,788$3,189
10 years$4,864$4,397$3,970$3,581$3,227$2,657
11 years$4,377$3,914$3,495$3,116$2,775$2,234
12 years$3,971$3,513$3,102$2,734$2,405$1,892
13 years$3,628$3,175$2,771$2,413$2,097$1,611
14 years$3,334$2,886$2,490$2,142$1,839$1,378
15 years$3,080$2,636$2,248$1,911$1,619$1,184
16 years$2,858$2,419$2,038$1,711$1,431$1,020
17 years$2,662$2,228$1,855$1,537$1,269$882
18 years$2,488$2,058$1,693$1,385$1,128$764
19 years$2,332$1,908$1,550$1,252$1,005$663
20 years$2,192$1,773$1,422$1,134$898$576
21 years$2,066$1,651$1,308$1,029$804$502
22 years$1,951$1,541$1,206$935$720$438
23 years$1,847$1,442$1,113$852$647$382
24 years$1,751$1,351$1,030$777$581$334
25 years$1,663$1,268$954$710$523$292
26 years$1,582$1,191$885$649$471$255
27 years$1,507$1,121$821$594$425$224
28 years$1,438$1,056$764$544$383$196
29 years$1,373$997$711$499$346$172
30 years$1,313$941$662$458$313$151
31 years$1,257$890$617$421$283$132
32 years$1,204$842$576$387$256$116
33 years$1,155$797$538$355$231$102
34 years$1,109$756$502$327$210$89
35 years$1,065$717$470$301$190$78
36 years$1,024$680$439$277$172$69
37 years$986$646$411$255$156$61
38 years$949$614$385$235$141$53
39 years$915$584$361$217$128$47
40 years$882$556$338$200$116$41
41 years$851$529$317$185$105$36
42 years$821$504$297$171$96$32
43 years$793$480$279$157$87$28
44 years$766$457$262$145$79$25
45 years$741$436$246$134$72$22
46 years$717$416$231$124$65$19
47 years$693$397$217$115$59$17
48 years$671$379$204$106$54$15
49 years$650$362$192$98$49$13
50 years$630$346$180$90$44$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $645,000, adding $3,551 every year, while hoping to spend $36,928 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: 35/48/17 Blend
55$645,000$645,000$645,000$645,000
56$714,453$680,268$670,270$735,618
57$748,036$674,310$653,433$745,402
58$783,807$666,822$634,795$752,234
59$821,950$657,691$614,255$758,822
60$862,666$646,796$591,710$765,165
61$906,178$634,008$567,052$771,264
62$952,726$619,193$540,166$777,125
63$1,002,577$602,206$510,935$782,758
64$1,056,022$582,896$479,233$788,175
65$1,113,380$561,102$444,932$793,398
66$1,175,003$536,655$407,895$798,452
67$1,241,276$509,373$367,981$803,370
68$1,312,620$479,066$325,043$808,193
69$1,389,501$445,534$278,925$812,972
70$1,472,428$408,563$229,467$817,768
71$1,561,961$367,928$176,500$822,655
72$1,658,715$323,391$119,847$827,718
73$1,763,368$274,701$59,326$833,061
74$1,876,663$221,593$0$838,803
75$1,999,417$163,785$0$846,037
76$2,132,529$100,982$0$865,516
77$2,276,987$32,870$0$886,691
78$2,433,878$0$0$909,814
79$2,604,399$0$0$956,764
80$2,789,863$0$0$1,026,793
81$2,991,720$0$0$1,103,098
82$3,211,560$0$0$1,186,290
83$3,451,137$0$0$1,277,044
84$3,712,379$0$0$1,376,102
85$3,997,408$0$0$1,484,281
86$4,308,560$0$0$1,602,480
87$4,648,407$0$0$1,731,691
88$5,019,781$0$0$1,873,002
89$5,425,798$0$0$2,027,614
90$5,869,889$0$0$2,196,849
91$6,355,834$0$0$2,382,162
92$6,887,792$0$0$2,585,156
93$7,470,345$0$0$2,807,595
94$8,108,539$0$0$3,051,424
95$8,807,929$0$0$3,318,784
96$9,574,635$0$0$3,612,032
97$10,415,397$0$0$3,933,765
98$11,337,637$0$0$4,286,844
99$12,349,531$0$0$4,674,420
100$13,460,085$0$0$5,099,964