Can I retire at age 56 with 674,000?

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 $674,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$55,658$55,163$54,679$54,207$53,746$52,130
2 years$27,554$27,040$26,543$26,061$25,593$23,979
3 years$18,187$17,671$17,175$16,697$16,237$14,675
4 years$13,504$12,990$12,499$12,030$11,581$10,082
5 years$10,695$10,184$9,700$9,240$8,803$7,373
6 years$8,823$8,316$7,839$7,389$6,966$5,605
7 years$7,487$6,984$6,514$6,075$5,665$4,374
8 years$6,485$5,987$5,525$5,096$4,700$3,477
9 years$5,706$5,212$4,758$4,341$3,958$2,803
10 years$5,083$4,595$4,148$3,742$3,372$2,283
11 years$4,574$4,090$3,652$3,257$2,900$1,874
12 years$4,150$3,671$3,241$2,856$2,513$1,549
13 years$3,791$3,318$2,896$2,522$2,192$1,287
14 years$3,484$3,016$2,602$2,239$1,921$1,074
15 years$3,218$2,755$2,349$1,996$1,692$899
16 years$2,986$2,528$2,130$1,788$1,495$754
17 years$2,781$2,328$1,938$1,606$1,326$635
18 years$2,599$2,151$1,769$1,447$1,179$535
19 years$2,437$1,993$1,620$1,308$1,051$452
20 years$2,291$1,852$1,486$1,185$938$382
21 years$2,159$1,725$1,367$1,075$840$323
22 years$2,039$1,611$1,260$977$753$274
23 years$1,930$1,506$1,163$890$676$232
24 years$1,830$1,411$1,076$812$607$197
25 years$1,738$1,325$997$741$546$167
26 years$1,653$1,245$924$678$492$142
27 years$1,575$1,172$858$621$444$121
28 years$1,502$1,104$798$569$400$103
29 years$1,435$1,041$743$521$362$87
30 years$1,372$984$692$479$327$74
31 years$1,313$930$645$439$295$63
32 years$1,258$880$602$404$267$54
33 years$1,207$833$562$371$242$46
34 years$1,159$790$525$342$219$39
35 years$1,113$749$491$315$198$33
36 years$1,070$711$459$290$180$28
37 years$1,030$675$430$267$163$24
38 years$992$642$402$246$148$20
39 years$956$610$377$227$134$17
40 years$921$581$353$209$121$15
41 years$889$553$331$193$110$13
42 years$858$526$311$178$100$11
43 years$829$501$292$164$91$9
44 years$801$478$274$152$82$8
45 years$774$456$257$140$75$7
46 years$749$435$241$130$68$6
47 years$725$415$227$120$62$5
48 years$701$396$213$111$56$4
49 years$679$378$200$102$51$3
50 years$658$361$188$94$46$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $674,000, adding $3,786 every year, while hoping to spend $27,999 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: 34/40/26 Blend
55$674,000$674,000$674,000$674,000
56$746,653$710,931$700,484$766,044
57$793,021$715,976$694,160$785,957
58$843,180$720,330$686,685$804,628
59$897,487$723,929$677,992$824,211
60$956,336$726,706$668,009$844,806
61$1,020,156$728,589$656,662$866,524
62$1,089,425$729,502$643,872$889,491
63$1,164,662$729,364$629,558$913,846
64$1,246,444$728,089$613,635$939,745
65$1,335,401$725,585$596,011$967,363
66$1,432,230$721,756$576,595$996,894
67$1,537,694$716,499$555,288$1,028,557
68$1,652,636$709,705$531,987$1,062,592
69$1,777,982$701,258$506,586$1,099,270
70$1,914,752$691,035$478,973$1,138,891
71$2,064,068$678,908$449,030$1,181,790
72$2,227,166$664,737$416,635$1,228,340
73$2,405,405$648,377$381,661$1,278,955
74$2,600,284$629,675$343,973$1,334,094
75$2,813,450$608,466$303,434$1,394,271
76$3,046,719$584,578$259,896$1,460,053
77$3,302,090$557,828$213,208$1,532,072
78$3,581,764$528,023$163,211$1,611,029
79$3,888,165$494,957$109,740$1,697,702
80$4,223,962$458,414$52,620$1,792,954
81$4,592,095$418,165$0$1,897,741
82$4,995,802$373,969$0$2,015,437
83$5,438,650$325,570$0$2,160,636
84$5,924,567$272,697$0$2,320,082
85$6,457,879$215,066$0$2,495,275
86$7,043,353$152,374$0$2,687,875
87$7,686,238$84,303$0$2,899,714
88$8,392,318$10,518$0$3,132,818
89$9,167,964$0$0$3,389,425
90$10,020,195$0$0$3,702,526
91$10,956,741$0$0$4,051,798
92$11,986,121$0$0$4,435,802
93$13,117,720$0$0$4,858,052
94$14,361,876$0$0$5,322,420
95$15,729,979$0$0$5,833,172
96$17,234,579$0$0$6,395,009
97$18,889,503$0$0$7,013,109
98$20,709,985$0$0$7,693,178
99$22,712,809$0$0$8,441,504
100$24,916,468$0$0$9,265,012