Can I retire at age 56 with 660,000?

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 $660,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$54,502$54,017$53,543$53,081$52,629$52,386
2 years$26,981$26,479$25,992$25,520$25,062$24,816
3 years$17,809$17,304$16,818$16,351$15,900$15,659
4 years$13,224$12,720$12,239$11,780$11,340$11,107
5 years$10,473$9,973$9,498$9,048$8,621$8,395
6 years$8,640$8,144$7,676$7,236$6,821$6,604
7 years$7,331$6,839$6,379$5,949$5,547$5,338
8 years$6,350$5,862$5,410$4,990$4,602$4,401
9 years$5,587$5,104$4,659$4,251$3,876$3,683
10 years$4,977$4,499$4,062$3,664$3,302$3,118
11 years$4,479$4,005$3,576$3,189$2,840$2,664
12 years$4,064$3,595$3,174$2,797$2,461$2,292
13 years$3,713$3,249$2,836$2,469$2,146$1,985
14 years$3,412$2,953$2,548$2,192$1,881$1,728
15 years$3,152$2,698$2,300$1,955$1,656$1,510
16 years$2,924$2,475$2,086$1,750$1,464$1,325
17 years$2,723$2,279$1,898$1,573$1,298$1,166
18 years$2,545$2,106$1,732$1,417$1,154$1,029
19 years$2,386$1,952$1,586$1,281$1,029$910
20 years$2,243$1,814$1,456$1,160$919$807
21 years$2,114$1,690$1,339$1,053$822$716
22 years$1,996$1,577$1,234$957$737$637
23 years$1,889$1,475$1,139$872$662$567
24 years$1,792$1,382$1,054$795$595$505
25 years$1,702$1,297$976$726$535$451
26 years$1,619$1,219$905$664$482$403
27 years$1,542$1,147$840$608$435$360
28 years$1,471$1,081$781$557$392$322
29 years$1,405$1,020$727$511$354$288
30 years$1,343$963$677$469$320$258
31 years$1,286$910$631$430$289$231
32 years$1,232$861$589$395$262$207
33 years$1,182$816$550$364$237$186
34 years$1,135$773$514$335$214$167
35 years$1,090$733$480$308$194$150
36 years$1,048$696$449$284$176$135
37 years$1,009$661$421$261$159$121
38 years$971$628$394$241$145$108
39 years$936$597$369$222$131$97
40 years$902$568$346$205$119$88
41 years$871$541$324$189$108$79
42 years$840$515$304$174$98$71
43 years$812$491$286$161$89$64
44 years$784$468$268$149$81$57
45 years$758$446$252$137$73$51
46 years$733$426$236$127$66$46
47 years$710$406$222$117$60$42
48 years$687$388$209$108$55$37
49 years$665$370$196$100$50$34
50 years$644$354$184$93$45$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $660,000, adding $2,588 every year, while hoping to spend $43,219 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: 72/13/15 Blend
55$660,000$660,000$660,000$660,000
56$729,990$695,010$684,780$779,913
57$758,464$683,080$661,735$801,434
58$788,394$669,118$636,470$819,484
59$819,883$652,977$608,864$838,114
60$853,042$634,505$578,793$857,374
61$887,994$613,537$546,124$877,317
62$924,871$589,902$510,721$898,005
63$963,819$563,418$472,440$919,505
64$1,004,994$533,891$431,133$941,892
65$1,048,569$501,118$386,642$965,253
66$1,094,732$464,882$338,803$989,681
67$1,143,690$424,955$287,448$1,015,282
68$1,195,665$381,098$232,397$1,042,173
69$1,250,905$333,053$173,464$1,070,488
70$1,309,678$280,553$110,455$1,100,371
71$1,372,277$223,313$43,168$1,131,987
72$1,439,026$161,031$0$1,165,517
73$1,510,276$93,391$0$1,205,748
74$1,586,415$20,058$0$1,255,992
75$1,667,865$0$0$1,309,621
76$1,755,093$0$0$1,375,438
77$1,848,606$0$0$1,449,096
78$1,948,964$0$0$1,528,167
79$2,056,780$0$0$1,613,139
80$2,172,728$0$0$1,704,545
81$2,297,547$0$0$1,802,970
82$2,432,047$0$0$1,909,059
83$2,577,122$0$0$2,023,517
84$2,733,750$0$0$2,147,122
85$2,903,007$0$0$2,280,726
86$3,086,076$0$0$2,425,268
87$3,284,258$0$0$2,581,778
88$3,498,982$0$0$2,751,389
89$3,731,819$0$0$2,935,349
90$3,984,498$0$0$3,135,027
91$4,258,919$0$0$3,351,931
92$4,557,173$0$0$3,587,719
93$4,881,560$0$0$3,844,214
94$5,234,610$0$0$4,123,425
95$5,619,108$0$0$4,427,558
96$6,038,118$0$0$4,759,045
97$6,495,011$0$0$5,120,560
98$6,993,499$0$0$5,515,046
99$7,537,667$0$0$5,945,743
100$8,132,011$0$0$6,416,219