Can I retire at age 56 with 653,000?

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 $653,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$53,924$53,444$52,975$52,518$52,071$50,204
2 years$26,695$26,198$25,716$25,249$24,796$22,935
3 years$17,620$17,121$16,640$16,177$15,731$13,935
4 years$13,083$12,585$12,110$11,655$11,220$9,502
5 years$10,362$9,867$9,398$8,952$8,529$6,894
6 years$8,548$8,057$7,595$7,159$6,749$5,198
7 years$7,253$6,766$6,311$5,886$5,489$4,021
8 years$6,283$5,800$5,352$4,937$4,553$3,169
9 years$5,528$5,050$4,610$4,206$3,835$2,531
10 years$4,925$4,451$4,019$3,625$3,267$2,042
11 years$4,431$3,963$3,538$3,155$2,810$1,660
12 years$4,021$3,557$3,140$2,767$2,435$1,359
13 years$3,673$3,214$2,806$2,443$2,123$1,117
14 years$3,376$2,922$2,521$2,169$1,861$922
15 years$3,118$2,669$2,276$1,934$1,639$764
16 years$2,893$2,449$2,063$1,732$1,448$634
17 years$2,695$2,255$1,878$1,556$1,284$528
18 years$2,518$2,084$1,714$1,402$1,142$440
19 years$2,361$1,931$1,569$1,267$1,018$367
20 years$2,219$1,795$1,440$1,148$909$307
21 years$2,091$1,672$1,325$1,042$814$257
22 years$1,975$1,560$1,221$947$729$215
23 years$1,869$1,459$1,127$862$655$180
24 years$1,773$1,367$1,042$787$588$151
25 years$1,684$1,283$966$718$529$127
26 years$1,602$1,206$896$657$477$106
27 years$1,526$1,135$832$601$430$89
28 years$1,455$1,070$773$551$388$75
29 years$1,390$1,009$719$505$350$63
30 years$1,329$953$670$464$317$53
31 years$1,272$901$625$426$286$45
32 years$1,219$852$583$391$259$37
33 years$1,169$807$544$360$234$31
34 years$1,123$765$508$331$212$26
35 years$1,079$726$475$305$192$22
36 years$1,037$689$445$281$174$19
37 years$998$654$416$259$158$16
38 years$961$622$390$238$143$13
39 years$926$591$365$220$130$11
40 years$893$562$342$203$118$9
41 years$861$535$321$187$107$8
42 years$831$510$301$173$97$7
43 years$803$486$283$159$88$6
44 years$776$463$265$147$80$5
45 years$750$442$249$136$72$4
46 years$725$421$234$126$66$3
47 years$702$402$220$116$60$3
48 years$680$384$206$107$54$2
49 years$658$366$194$99$49$2
50 years$638$350$182$92$45$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $653,000, adding $4,024 every year, while hoping to spend $37,454 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: 28/45/27 Blend
55$653,000$653,000$653,000$653,000
56$723,757$689,148$679,026$737,866
57$757,729$683,065$661,923$743,329
58$793,911$675,429$642,991$745,681
59$832,490$666,124$622,131$747,449
60$873,667$655,028$599,235$748,607
61$917,667$642,010$574,196$749,134
62$964,733$626,933$546,896$749,007
63$1,015,135$609,652$517,216$748,206
64$1,069,166$590,012$485,029$746,715
65$1,127,148$567,849$450,205$744,520
66$1,189,435$542,992$412,605$741,610
67$1,256,416$515,258$372,086$737,978
68$1,328,518$484,452$328,498$733,623
69$1,406,208$450,372$281,684$728,549
70$1,490,001$412,800$231,480$722,768
71$1,580,463$371,509$177,716$716,299
72$1,678,214$326,257$120,214$709,170
73$1,783,936$276,788$58,786$701,418
74$1,898,381$222,833$0$693,094
75$2,022,372$164,108$0$686,211
76$2,156,816$100,312$0$697,099
77$2,302,710$31,127$0$708,961
78$2,461,152$0$0$721,977
79$2,633,347$0$0$758,031
80$2,820,623$0$0$814,099
81$3,024,439$0$0$875,218
82$3,246,401$0$0$941,879
83$3,488,278$0$0$1,014,628
84$3,752,015$0$0$1,094,063
85$4,039,753$0$0$1,180,842
86$4,353,849$0$0$1,275,691
87$4,696,897$0$0$1,379,408
88$5,071,753$0$0$1,492,873
89$5,481,561$0$0$1,617,053
90$5,929,783$0$0$1,753,015
91$6,420,230$0$0$1,901,932
92$6,957,100$0$0$2,065,097
93$7,545,013$0$0$2,243,934
94$8,189,060$0$0$2,440,010
95$8,894,844$0$0$2,655,052
96$9,668,540$0$0$2,890,963
97$10,516,945$0$0$3,149,838
98$11,447,547$0$0$3,433,983
99$12,468,593$0$0$3,745,941
100$13,589,168$0$0$4,088,513