Can I retire at age 56 with 667,000?

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 $667,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$55,080$54,590$54,111$53,644$53,188$51,239
2 years$27,267$26,760$26,267$25,790$25,327$23,386
3 years$17,998$17,488$16,997$16,524$16,069$14,196
4 years$13,364$12,855$12,369$11,905$11,460$9,670
5 years$10,584$10,079$9,599$9,144$8,712$7,009
6 years$8,732$8,230$7,757$7,312$6,893$5,278
7 years$7,409$6,912$6,447$6,012$5,606$4,079
8 years$6,417$5,924$5,467$5,043$4,651$3,210
9 years$5,647$5,158$4,709$4,296$3,917$2,561
10 years$5,030$4,547$4,105$3,703$3,337$2,064
11 years$4,526$4,048$3,614$3,223$2,870$1,676
12 years$4,107$3,633$3,208$2,827$2,487$1,370
13 years$3,752$3,283$2,866$2,496$2,169$1,125
14 years$3,448$2,984$2,575$2,215$1,901$927
15 years$3,185$2,726$2,325$1,976$1,674$767
16 years$2,955$2,501$2,108$1,769$1,479$636
17 years$2,752$2,304$1,918$1,589$1,312$528
18 years$2,572$2,129$1,751$1,432$1,166$440
19 years$2,412$1,973$1,603$1,294$1,040$367
20 years$2,267$1,833$1,471$1,172$929$306
21 years$2,136$1,708$1,353$1,064$831$256
22 years$2,018$1,594$1,247$967$745$214
23 years$1,910$1,491$1,151$881$669$179
24 years$1,811$1,397$1,065$803$601$150
25 years$1,720$1,311$986$734$541$125
26 years$1,636$1,232$915$671$487$105
27 years$1,558$1,159$849$614$439$88
28 years$1,487$1,093$790$563$396$74
29 years$1,420$1,031$735$516$358$62
30 years$1,358$973$684$474$323$52
31 years$1,300$920$638$435$292$44
32 years$1,245$871$595$400$264$37
33 years$1,194$824$556$368$239$31
34 years$1,147$781$519$338$217$26
35 years$1,102$741$486$311$196$22
36 years$1,059$703$454$287$178$18
37 years$1,019$668$425$264$161$15
38 years$982$635$398$243$146$13
39 years$946$604$373$225$132$11
40 years$912$574$350$207$120$9
41 years$880$547$328$191$109$8
42 years$849$521$308$176$99$6
43 years$820$496$289$163$90$5
44 years$792$473$271$150$81$4
45 years$766$451$254$139$74$4
46 years$741$430$239$128$67$3
47 years$717$411$224$118$61$3
48 years$694$392$211$109$55$2
49 years$672$374$198$101$50$2
50 years$651$358$186$93$46$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $667,000, adding $3,284 every year, while hoping to spend $21,409 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: 85/10/5 Blend
55$667,000$667,000$667,000$667,000
56$738,421$703,070$692,732$800,912
57$790,961$714,742$693,159$853,814
58$848,143$726,268$692,884$908,637
59$910,417$737,618$691,859$968,176
60$978,279$748,761$690,036$1,032,889
61$1,052,276$759,663$687,364$1,103,280
62$1,133,008$770,286$683,791$1,179,908
63$1,221,137$780,593$679,260$1,263,383
64$1,317,391$790,539$673,713$1,354,382
65$1,422,571$800,082$667,089$1,453,646
66$1,537,560$809,173$659,323$1,561,994
67$1,663,330$817,761$650,349$1,680,328
68$1,800,949$825,791$640,095$1,809,640
69$1,951,596$833,205$628,489$1,951,023
70$2,116,568$839,941$615,452$2,105,683
71$2,297,294$845,934$600,906$2,274,945
72$2,495,346$851,112$584,764$2,460,273
73$2,712,456$855,402$566,939$2,663,276
74$2,950,533$858,724$547,338$2,885,728
75$3,211,679$860,992$525,865$3,129,585
76$3,498,207$862,118$502,418$3,396,999
77$3,812,668$862,005$476,893$3,690,344
78$4,157,869$860,553$449,178$4,012,235
79$4,536,905$857,653$419,159$4,365,550
80$4,953,183$853,191$386,714$4,753,465
81$5,410,456$847,047$351,718$5,179,477
82$5,912,862$839,091$314,039$5,647,440
83$6,464,954$829,187$273,540$6,161,598
84$7,071,753$817,191$230,077$6,726,632
85$7,738,788$802,949$183,501$7,347,698
86$8,472,150$786,299$133,654$8,030,475
87$9,278,551$767,070$80,373$8,781,225
88$10,165,386$745,079$23,488$9,606,847
89$11,140,802$720,134$0$10,514,942
90$12,213,774$692,031$0$11,515,873
91$13,394,192$660,553$0$12,618,352
92$14,692,953$625,474$0$13,831,307
93$16,122,064$586,552$0$15,165,960
94$17,694,752$543,530$0$16,634,676
95$19,425,594$496,141$0$18,251,078
96$21,330,650$444,097$0$20,030,182
97$23,427,616$387,098$0$21,988,531
98$25,735,992$324,825$0$24,144,358
99$28,277,264$256,942$0$26,517,752
100$31,075,105$183,093$0$29,130,853