Can I retire at age 56 with 649,000?

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 $649,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$53,594$53,116$52,651$52,196$51,752$50,076
2 years$26,532$26,037$25,559$25,094$24,644$22,970
3 years$17,512$17,016$16,538$16,078$15,635$14,017
4 years$13,003$12,508$12,035$11,583$11,151$9,601
5 years$10,299$9,807$9,340$8,897$8,477$6,999
6 years$8,496$8,008$7,548$7,115$6,707$5,304
7 years$7,209$6,725$6,273$5,850$5,455$4,124
8 years$6,244$5,765$5,320$4,907$4,525$3,267
9 years$5,494$5,019$4,582$4,180$3,811$2,624
10 years$4,895$4,424$3,994$3,603$3,247$2,129
11 years$4,404$3,939$3,517$3,136$2,793$1,741
12 years$3,996$3,535$3,121$2,750$2,420$1,434
13 years$3,651$3,195$2,788$2,428$2,110$1,186
14 years$3,355$2,904$2,505$2,156$1,850$985
15 years$3,099$2,653$2,262$1,922$1,629$821
16 years$2,875$2,434$2,051$1,721$1,440$687
17 years$2,678$2,241$1,866$1,547$1,276$575
18 years$2,503$2,071$1,704$1,394$1,135$483
19 years$2,346$1,920$1,560$1,259$1,012$406
20 years$2,206$1,784$1,431$1,141$904$342
21 years$2,079$1,661$1,317$1,035$809$288
22 years$1,963$1,551$1,213$941$725$243
23 years$1,858$1,451$1,120$857$651$205
24 years$1,762$1,359$1,036$782$585$173
25 years$1,673$1,275$960$714$526$146
26 years$1,592$1,199$890$653$474$124
27 years$1,516$1,128$826$598$427$104
28 years$1,446$1,063$768$547$386$88
29 years$1,382$1,003$715$502$348$75
30 years$1,321$947$666$461$315$63
31 years$1,265$895$621$423$284$54
32 years$1,212$847$579$389$257$45
33 years$1,162$802$541$358$233$38
34 years$1,116$760$505$329$211$33
35 years$1,072$721$472$303$191$28
36 years$1,031$685$442$279$173$23
37 years$992$650$414$257$157$20
38 years$955$618$387$237$142$17
39 years$920$588$363$218$129$14
40 years$887$559$340$201$117$12
41 years$856$532$319$186$106$10
42 years$826$507$299$172$96$9
43 years$798$483$281$158$87$7
44 years$771$460$264$146$79$6
45 years$745$439$247$135$72$5
46 years$721$419$232$125$65$4
47 years$698$400$218$115$59$4
48 years$675$381$205$106$54$3
49 years$654$364$193$98$49$3
50 years$634$348$181$91$44$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $649,000, adding $4,475 every year, while hoping to spend $23,886 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: 50/44/6 Blend
55$649,000$649,000$649,000$649,000
56$719,814$685,417$675,357$754,513
57$767,820$693,588$672,567$786,803
58$819,923$701,359$668,883$818,929
59$876,514$708,684$664,250$853,266
60$938,026$715,517$658,610$890,027
61$1,004,934$721,806$651,902$929,445
62$1,077,759$727,497$644,063$971,780
63$1,157,078$732,532$635,027$1,017,319
64$1,243,524$736,850$624,724$1,066,376
65$1,337,792$740,384$613,081$1,119,301
66$1,440,649$743,065$600,021$1,176,480
67$1,552,940$744,820$585,466$1,238,338
68$1,675,592$745,569$569,332$1,305,346
69$1,809,629$745,228$551,531$1,378,023
70$1,956,177$743,710$531,973$1,456,944
71$2,116,474$740,918$510,561$1,542,741
72$2,291,885$736,755$487,196$1,636,114
73$2,483,914$731,112$461,774$1,737,836
74$2,694,215$723,878$434,184$1,848,760
75$2,924,610$714,933$404,315$1,969,828
76$3,177,106$704,151$372,045$2,102,080
77$3,453,914$691,397$337,252$2,246,665
78$3,757,467$676,530$299,804$2,404,850
79$4,090,448$659,399$259,567$2,578,034
80$4,455,808$639,845$216,397$2,767,764
81$4,856,802$617,698$170,148$2,975,743
82$5,297,012$592,782$120,664$3,203,855
83$5,780,385$564,906$67,784$3,454,178
84$6,311,269$533,871$11,339$3,729,004
85$6,894,454$499,466$0$4,030,865
86$7,535,215$461,467$0$4,365,683
87$8,239,367$419,638$0$4,734,389
88$9,013,312$373,730$0$5,139,669
89$9,864,106$323,479$0$5,585,288
90$10,799,520$268,605$0$6,075,401
91$11,828,120$208,815$0$6,614,591
92$12,959,338$143,797$0$7,207,911
93$14,203,570$73,223$0$7,860,939
94$15,572,270$0$0$8,579,824
95$17,078,054$0$0$9,372,926
96$18,734,827$0$0$10,284,640
97$20,557,907$0$0$11,287,952
98$22,564,173$0$0$12,392,162
99$24,772,224$0$0$13,607,516
100$27,202,550$0$0$14,945,303