Can I retire at age 56 with 676,000?

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 $676,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$55,823$55,326$54,841$54,368$53,905$52,990
2 years$27,635$27,121$26,622$26,138$25,669$24,750
3 years$18,241$17,724$17,226$16,747$16,286$15,391
4 years$13,544$13,029$12,536$12,065$11,615$10,752
5 years$10,727$10,215$9,729$9,267$8,830$8,001
6 years$8,849$8,341$7,862$7,411$6,987$6,193
7 years$7,509$7,005$6,533$6,093$5,682$4,923
8 years$6,504$6,004$5,541$5,111$4,714$3,990
9 years$5,723$5,228$4,772$4,354$3,970$3,280
10 years$5,098$4,608$4,161$3,753$3,382$2,727
11 years$4,587$4,102$3,663$3,266$2,909$2,287
12 years$4,162$3,682$3,251$2,865$2,521$1,931
13 years$3,803$3,328$2,904$2,529$2,198$1,640
14 years$3,495$3,025$2,610$2,245$1,927$1,400
15 years$3,228$2,763$2,356$2,002$1,697$1,199
16 years$2,995$2,535$2,136$1,793$1,499$1,030
17 years$2,789$2,335$1,944$1,611$1,330$888
18 years$2,607$2,157$1,774$1,452$1,182$767
19 years$2,444$1,999$1,624$1,312$1,054$664
20 years$2,298$1,858$1,491$1,188$941$575
21 years$2,165$1,731$1,371$1,078$842$499
22 years$2,045$1,615$1,264$980$755$434
23 years$1,935$1,511$1,167$893$678$378
24 years$1,835$1,416$1,079$814$609$329
25 years$1,743$1,328$1,000$744$548$287
26 years$1,658$1,249$927$680$494$250
27 years$1,579$1,175$861$622$445$218
28 years$1,507$1,107$800$570$402$191
29 years$1,439$1,045$745$523$363$167
30 years$1,376$986$694$480$328$146
31 years$1,317$933$647$441$296$127
32 years$1,262$882$603$405$268$111
33 years$1,211$836$563$373$243$97
34 years$1,162$792$526$343$220$85
35 years$1,117$751$492$316$199$75
36 years$1,074$713$460$291$180$65
37 years$1,033$677$431$268$163$57
38 years$995$644$404$247$148$50
39 years$959$612$378$228$134$44
40 years$924$582$354$210$122$38
41 years$892$554$332$194$110$34
42 years$861$528$312$179$100$29
43 years$831$503$292$165$91$26
44 years$803$479$275$152$83$23
45 years$776$457$258$141$75$20
46 years$751$436$242$130$68$17
47 years$727$416$227$120$62$15
48 years$703$397$214$111$56$13
49 years$681$379$201$103$51$12
50 years$660$362$189$95$46$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $676,000, adding $3,194 every year, while hoping to spend $58,573 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: 50/43/7 Blend
55$676,000$676,000$676,000$676,000
56$748,247$712,419$701,941$784,171
57$762,247$685,006$663,134$781,596
58$775,711$654,287$621,065$772,261
59$788,525$620,038$575,561$760,731
60$800,556$582,021$526,445$746,814
61$811,660$539,988$473,528$730,305
62$821,675$493,672$416,616$710,979
63$830,418$442,795$355,506$688,597
64$837,689$387,060$289,983$662,898
65$843,262$326,155$219,826$633,603
66$846,887$259,749$144,803$600,407
67$848,288$187,495$64,672$562,982
68$847,154$109,023$0$520,975
69$843,143$23,944$0$475,560
70$835,875$0$0$430,019
71$824,928$0$0$411,338
72$809,833$0$0$401,660
73$790,073$0$0$389,369
74$765,073$0$0$374,146
75$734,196$0$0$355,640
76$696,740$0$0$333,461
77$651,924$0$0$307,179
78$598,887$0$0$276,316
79$536,675$0$0$240,347
80$464,233$0$0$198,687
81$380,395$0$0$150,694
82$283,874$0$0$95,655
83$173,245$0$0$32,785
84$46,935$0$0$0
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0