Can I retire at age 56 with 685,000?

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 $685,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$56,567$56,063$55,571$55,091$54,623$52,727
2 years$28,003$27,482$26,976$26,486$26,011$24,120
3 years$18,483$17,960$17,455$16,970$16,502$14,677
4 years$13,724$13,202$12,703$12,226$11,770$10,023
5 years$10,870$10,351$9,858$9,391$8,947$7,283
6 years$8,967$8,452$7,967$7,510$7,080$5,500
7 years$7,609$7,098$6,620$6,174$5,758$4,263
8 years$6,591$6,084$5,615$5,179$4,776$3,365
9 years$5,799$5,298$4,836$4,412$4,022$2,692
10 years$5,166$4,670$4,216$3,803$3,427$2,176
11 years$4,649$4,157$3,712$3,310$2,948$1,773
12 years$4,218$3,731$3,294$2,903$2,554$1,454
13 years$3,853$3,372$2,943$2,563$2,227$1,198
14 years$3,541$3,065$2,644$2,275$1,953$991
15 years$3,271$2,800$2,387$2,029$1,719$823
16 years$3,035$2,569$2,165$1,817$1,519$685
17 years$2,827$2,366$1,970$1,632$1,347$571
18 years$2,642$2,186$1,798$1,471$1,198$477
19 years$2,477$2,026$1,646$1,329$1,068$399
20 years$2,328$1,883$1,511$1,204$954$335
21 years$2,194$1,754$1,390$1,093$853$281
22 years$2,072$1,637$1,281$993$765$235
23 years$1,961$1,531$1,182$905$687$198
24 years$1,859$1,434$1,094$825$617$166
25 years$1,766$1,346$1,013$754$555$140
26 years$1,680$1,265$939$689$500$118
27 years$1,600$1,191$872$631$451$99
28 years$1,527$1,122$811$578$407$83
29 years$1,458$1,058$755$530$368$70
30 years$1,394$1,000$703$486$332$59
31 years$1,335$945$655$447$300$50
32 years$1,279$894$611$410$272$42
33 years$1,227$847$571$377$246$35
34 years$1,178$803$533$347$223$30
35 years$1,131$761$499$320$202$25
36 years$1,088$722$467$294$183$21
37 years$1,047$686$437$271$166$18
38 years$1,008$652$409$250$150$15
39 years$971$620$383$231$136$13
40 years$937$590$359$213$123$11
41 years$903$562$337$196$112$9
42 years$872$535$316$181$102$8
43 years$842$510$296$167$92$6
44 years$814$486$278$154$84$5
45 years$787$463$261$143$76$5
46 years$761$442$245$132$69$4
47 years$736$422$230$122$63$3
48 years$713$403$217$112$57$3
49 years$690$384$204$104$52$2
50 years$669$367$191$96$47$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $685,000, adding $3,961 every year, while hoping to spend $29,059 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: 65/6/29 Blend
55$685,000$685,000$685,000$685,000
56$758,956$722,651$712,033$802,208
57$805,451$727,142$704,968$836,441
58$855,714$730,880$696,692$870,277
59$910,100$733,796$687,134$906,631
60$968,997$735,818$676,219$945,757
61$1,032,832$736,871$663,871$987,932
62$1,102,076$736,873$650,005$1,033,463
63$1,177,246$735,738$634,538$1,082,690
64$1,258,910$733,373$617,380$1,135,987
65$1,347,693$729,683$598,437$1,193,768
66$1,444,284$724,564$577,611$1,256,491
67$1,549,440$717,907$554,800$1,324,660
68$1,663,994$709,595$529,897$1,398,833
69$1,788,862$699,506$502,789$1,479,624
70$1,925,054$687,510$473,361$1,567,715
71$2,073,680$673,468$441,489$1,663,854
72$2,235,962$657,235$407,045$1,768,871
73$2,413,247$638,656$369,897$1,883,679
74$2,607,014$617,566$329,905$2,009,287
75$2,818,896$593,793$286,923$2,146,810
76$3,050,687$567,153$240,799$2,297,476
77$3,304,366$537,452$191,375$2,462,642
78$3,582,109$504,485$138,483$2,643,804
79$3,886,313$468,034$81,952$2,842,616
80$4,219,620$427,870$21,600$3,060,899
81$4,584,936$383,751$0$3,300,665
82$4,985,464$335,420$0$3,577,379
83$5,424,732$282,605$0$3,888,235
84$5,906,623$225,022$0$4,229,308
85$6,435,417$162,366$0$4,603,643
86$7,015,828$94,320$0$5,014,596
87$7,653,046$20,545$0$5,465,863
88$8,352,790$0$0$5,961,519
89$9,121,362$0$0$6,509,967
90$9,965,700$0$0$7,114,021
91$10,893,450$0$0$7,777,800
92$11,913,036$0$0$8,507,336
93$13,033,735$0$0$9,309,275
94$14,265,771$0$0$10,190,938
95$15,620,407$0$0$11,160,393
96$17,110,050$0$0$12,226,527
97$18,748,373$0$0$13,399,131
98$20,550,437$0$0$14,688,994
99$22,532,838$0$0$16,108,003
100$24,713,861$0$0$17,669,253