Can I retire at age 56 with 664,000?

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 $664,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$54,832$54,344$53,868$53,402$52,948$52,330
2 years$27,145$26,639$26,149$25,674$25,213$24,591
3 years$17,917$17,409$16,920$16,450$15,996$15,389
4 years$13,304$12,797$12,314$11,851$11,409$10,822
5 years$10,537$10,033$9,556$9,103$8,673$8,107
6 years$8,692$8,193$7,723$7,280$6,862$6,319
7 years$7,376$6,880$6,418$5,985$5,581$5,061
8 years$6,389$5,898$5,443$5,021$4,630$4,132
9 years$5,621$5,135$4,688$4,276$3,899$3,424
10 years$5,008$4,526$4,087$3,686$3,322$2,869
11 years$4,506$4,030$3,598$3,208$2,857$2,425
12 years$4,088$3,617$3,193$2,814$2,476$2,065
13 years$3,735$3,268$2,853$2,484$2,159$1,769
14 years$3,433$2,971$2,563$2,205$1,893$1,523
15 years$3,171$2,714$2,314$1,967$1,666$1,316
16 years$2,942$2,490$2,098$1,761$1,473$1,141
17 years$2,740$2,293$1,909$1,582$1,306$992
18 years$2,561$2,119$1,743$1,426$1,161$865
19 years$2,401$1,964$1,596$1,288$1,035$756
20 years$2,257$1,825$1,464$1,167$924$662
21 years$2,127$1,700$1,347$1,059$827$580
22 years$2,009$1,587$1,241$963$742$509
23 years$1,901$1,484$1,146$877$666$448
24 years$1,802$1,390$1,060$800$598$394
25 years$1,712$1,305$982$730$538$347
26 years$1,628$1,226$911$668$485$306
27 years$1,551$1,154$846$611$437$270
28 years$1,480$1,088$786$560$395$238
29 years$1,413$1,026$732$514$356$210
30 years$1,352$969$681$471$322$186
31 years$1,294$916$635$433$291$164
32 years$1,240$867$593$398$263$145
33 years$1,189$821$553$366$238$128
34 years$1,142$778$517$337$216$113
35 years$1,097$738$483$310$195$100
36 years$1,055$700$452$285$177$89
37 years$1,015$665$423$263$160$79
38 years$977$632$396$242$145$70
39 years$942$601$371$223$132$62
40 years$908$572$348$206$120$55
41 years$876$544$326$190$109$48
42 years$845$518$306$176$98$43
43 years$816$494$287$162$89$38
44 years$789$471$270$150$81$34
45 years$763$449$253$138$74$30
46 years$738$428$238$128$67$26
47 years$714$409$223$118$61$23
48 years$691$390$210$109$55$21
49 years$669$373$197$101$50$18
50 years$648$356$186$93$45$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $664,000, adding $4,278 every year, while hoping to spend $38,303 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: 57/33/10 Blend
55$664,000$664,000$664,000$664,000
56$736,141$700,949$690,657$776,084
57$770,473$694,541$673,040$797,118
58$807,023$686,536$653,549$815,391
59$845,978$676,814$632,080$834,378
60$887,540$665,250$608,527$854,154
61$931,932$651,710$582,776$874,799
62$979,399$636,054$554,709$896,407
63$1,030,208$618,131$524,202$919,082
64$1,084,654$597,784$491,127$942,940
65$1,143,058$574,845$455,350$968,111
66$1,205,774$549,137$416,728$994,742
67$1,273,190$520,471$375,115$1,022,997
68$1,345,731$488,651$330,358$1,053,058
69$1,423,867$453,466$282,296$1,085,131
70$1,508,109$414,694$230,761$1,119,444
71$1,599,024$372,101$175,579$1,156,253
72$1,697,229$325,439$116,566$1,195,841
73$1,803,408$274,446$53,532$1,238,528
74$1,918,308$218,847$0$1,284,668
75$2,042,752$158,347$0$1,336,120
76$2,177,647$92,640$0$1,398,049
77$2,323,987$21,400$0$1,465,250
78$2,482,866$0$0$1,538,291
79$2,655,489$0$0$1,638,036
80$2,843,180$0$0$1,754,987
81$3,047,395$0$0$1,882,289
82$3,269,737$0$0$2,020,946
83$3,511,971$0$0$2,172,067
84$3,776,038$0$0$2,336,868
85$4,064,074$0$0$2,516,692
86$4,378,430$0$0$2,713,014
87$4,721,694$0$0$2,927,459
88$5,096,717$0$0$3,161,815
89$5,506,634$0$0$3,418,052
90$5,954,900$0$0$3,698,338
91$6,445,316$0$0$4,005,059
92$6,982,069$0$0$4,340,845
93$7,569,771$0$0$4,708,591
94$8,213,497$0$0$5,111,483
95$8,918,839$0$0$5,553,032
96$9,691,954$0$0$6,037,105
97$10,539,624$0$0$6,567,961
98$11,469,317$0$0$7,150,288
99$12,489,261$0$0$7,789,252
100$13,608,516$0$0$8,490,545