Can I retire at age 56 with 679,000?

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 $679,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$56,071$55,572$55,084$54,609$54,144$53,646
2 years$27,758$27,241$26,740$26,254$25,783$25,281
3 years$18,322$17,802$17,303$16,821$16,358$15,867
4 years$13,604$13,087$12,592$12,119$11,667$11,192
5 years$10,775$10,260$9,772$9,308$8,869$8,411
6 years$8,889$8,378$7,897$7,444$7,018$6,577
7 years$7,542$7,036$6,562$6,120$5,707$5,285
8 years$6,533$6,031$5,566$5,134$4,735$4,330
9 years$5,748$5,251$4,794$4,373$3,987$3,600
10 years$5,121$4,629$4,179$3,770$3,397$3,028
11 years$4,608$4,121$3,679$3,281$2,922$2,569
12 years$4,181$3,698$3,265$2,878$2,532$2,196
13 years$3,819$3,342$2,917$2,541$2,208$1,888
14 years$3,510$3,038$2,621$2,255$1,935$1,632
15 years$3,242$2,775$2,367$2,011$1,704$1,416
16 years$3,008$2,546$2,146$1,801$1,506$1,233
17 years$2,802$2,345$1,952$1,618$1,335$1,077
18 years$2,619$2,167$1,782$1,458$1,187$943
19 years$2,455$2,008$1,632$1,318$1,058$827
20 years$2,308$1,866$1,497$1,193$945$727
21 years$2,175$1,738$1,377$1,083$846$641
22 years$2,054$1,623$1,269$985$758$565
23 years$1,944$1,518$1,172$897$681$499
24 years$1,843$1,422$1,084$818$612$441
25 years$1,751$1,334$1,004$747$551$390
26 years$1,665$1,254$931$683$496$345
27 years$1,586$1,180$865$625$447$306
28 years$1,513$1,112$804$573$403$271
29 years$1,445$1,049$748$525$364$241
30 years$1,382$991$697$482$329$214
31 years$1,323$937$650$443$298$190
32 years$1,268$886$606$407$269$169
33 years$1,216$839$566$374$244$150
34 years$1,167$795$529$344$221$133
35 years$1,122$755$494$317$200$119
36 years$1,078$716$462$292$181$105
37 years$1,038$680$433$269$164$94
38 years$999$646$405$248$149$83
39 years$963$615$380$229$135$74
40 years$928$585$356$211$122$66
41 years$896$557$334$194$111$59
42 years$864$530$313$179$101$52
43 years$835$505$294$166$91$47
44 years$807$482$276$153$83$42
45 years$780$459$259$141$75$37
46 years$754$438$243$131$68$33
47 years$730$418$228$121$62$29
48 years$707$399$215$111$56$26
49 years$684$381$202$103$51$23
50 years$663$364$190$95$47$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $679,000, adding $5,390 every year, while hoping to spend $54,269 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: 72/21/7 Blend
55$679,000$679,000$679,000$679,000
56$753,818$717,831$707,306$806,932
57$772,965$695,263$673,259$820,138
58$792,247$669,770$636,253$827,301
59$811,620$641,152$596,130$833,626
60$831,033$609,196$552,729$839,016
61$850,430$573,678$505,877$843,365
62$869,746$534,361$455,396$846,555
63$888,909$490,994$401,101$848,461
64$907,835$443,310$342,795$848,944
65$926,432$391,030$280,277$847,855
66$944,595$333,857$213,333$845,029
67$962,206$271,479$141,742$840,289
68$979,134$203,563$65,272$833,440
69$995,229$129,762$0$824,270
70$1,010,327$49,705$0$813,770
71$1,024,243$0$0$805,749
72$1,036,771$0$0$803,623
73$1,047,680$0$0$811,681
74$1,056,714$0$0$818,232
75$1,063,589$0$0$823,050
76$1,067,986$0$0$825,882
77$1,069,552$0$0$826,448
78$1,067,896$0$0$824,435
79$1,062,583$0$0$819,499
80$1,053,129$0$0$811,254
81$1,038,999$0$0$799,277
82$1,019,599$0$0$783,093
83$994,271$0$0$762,181
84$962,286$0$0$735,961
85$922,836$0$0$703,791
86$875,027$0$0$664,963
87$817,871$0$0$618,689
88$750,273$0$0$564,102
89$671,023$0$0$500,239
90$578,783$0$0$426,038
91$472,072$0$0$340,324
92$349,256$0$0$241,799
93$208,527$0$0$129,026
94$47,889$0$0$422
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