Can I retire at age 56 with 686,000?

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 $686,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$56,649$56,145$55,652$55,172$54,703$52,741
2 years$28,044$27,522$27,016$26,525$26,049$24,094
3 years$18,510$17,986$17,481$16,995$16,526$14,639
4 years$13,744$13,222$12,722$12,244$11,787$9,982
5 years$10,886$10,366$9,873$9,404$8,960$7,242
6 years$8,980$8,464$7,978$7,521$7,090$5,461
7 years$7,620$7,108$6,630$6,183$5,766$4,225
8 years$6,600$6,093$5,623$5,187$4,783$3,329
9 years$5,807$5,305$4,843$4,418$4,028$2,659
10 years$5,174$4,676$4,222$3,808$3,432$2,145
11 years$4,655$4,163$3,717$3,315$2,952$1,744
12 years$4,224$3,737$3,299$2,907$2,558$1,427
13 years$3,859$3,377$2,947$2,567$2,231$1,174
14 years$3,546$3,069$2,648$2,278$1,955$969
15 years$3,276$2,804$2,391$2,032$1,722$803
16 years$3,039$2,573$2,168$1,819$1,522$667
17 years$2,831$2,369$1,973$1,635$1,349$555
18 years$2,646$2,189$1,801$1,473$1,200$462
19 years$2,480$2,029$1,648$1,331$1,069$386
20 years$2,331$1,885$1,513$1,206$955$323
21 years$2,197$1,756$1,392$1,094$855$270
22 years$2,075$1,639$1,283$995$766$226
23 years$1,964$1,533$1,184$906$688$189
24 years$1,862$1,437$1,095$826$618$159
25 years$1,769$1,348$1,014$755$556$133
26 years$1,682$1,267$941$690$501$112
27 years$1,603$1,192$874$632$452$94
28 years$1,529$1,124$812$579$408$79
29 years$1,460$1,060$756$531$368$66
30 years$1,396$1,001$704$487$333$56
31 years$1,337$946$656$447$301$47
32 years$1,281$895$612$411$272$39
33 years$1,229$848$572$378$246$33
34 years$1,179$804$534$348$223$28
35 years$1,133$762$499$320$202$23
36 years$1,090$724$467$295$183$20
37 years$1,048$687$437$272$166$17
38 years$1,010$653$409$250$150$14
39 years$973$621$384$231$136$12
40 years$938$591$360$213$124$10
41 years$905$562$337$196$112$8
42 years$873$536$316$181$102$7
43 years$844$510$297$167$92$6
44 years$815$486$279$155$84$5
45 years$788$464$262$143$76$4
46 years$762$443$246$132$69$3
47 years$737$422$231$122$63$3
48 years$714$403$217$113$57$2
49 years$691$385$204$104$52$2
50 years$670$368$192$96$47$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $686,000, adding $2,751 every year, while hoping to spend $29,854 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: 57/17/26 Blend
55$686,000$686,000$686,000$686,000
56$758,810$722,452$711,819$796,533
57$804,444$726,087$703,900$826,320
58$853,732$728,901$694,716$855,388
59$907,016$730,820$684,192$886,450
60$964,670$731,768$672,250$919,705
61$1,027,106$731,665$658,811$955,377
62$1,094,778$730,424$643,789$993,712
63$1,168,185$727,954$627,094$1,034,982
64$1,247,873$724,157$608,636$1,079,492
65$1,334,447$718,931$588,316$1,127,573
66$1,428,569$712,167$566,033$1,179,597
67$1,530,968$703,749$541,680$1,235,973
68$1,642,448$693,554$515,148$1,297,153
69$1,763,891$681,452$486,319$1,363,637
70$1,896,270$667,305$455,072$1,435,980
71$2,040,654$650,967$421,282$1,514,793
72$2,198,221$632,285$384,815$1,600,752
73$2,370,266$611,093$345,533$1,694,606
74$2,558,217$587,220$303,291$1,797,180
75$2,763,643$560,482$257,939$1,909,389
76$2,988,274$530,685$209,320$2,032,242
77$3,234,013$497,624$157,267$2,166,854
78$3,502,957$461,082$101,611$2,314,457
79$3,797,415$420,831$42,171$2,476,412
80$4,119,928$376,629$0$2,654,222
81$4,473,295$328,218$0$2,855,446
82$4,860,599$275,329$0$3,088,888
83$5,285,236$217,675$0$3,344,917
84$5,750,944$154,956$0$3,625,829
85$6,261,844$86,852$0$3,934,153
86$6,822,470$13,026$0$4,272,678
87$7,437,821$0$0$4,644,479
88$8,113,400$0$0$5,065,458
89$8,855,272$0$0$5,530,484
90$9,670,115$0$0$6,041,316
91$10,565,288$0$0$6,602,574
92$11,548,896$0$0$7,219,350
93$12,629,870$0$0$7,897,251
94$13,818,047$0$0$8,642,456
95$15,124,265$0$0$9,461,772
96$16,560,467$0$0$10,362,699
97$18,139,807$0$0$11,353,498
98$19,876,781$0$0$12,443,274
99$21,787,357$0$0$13,642,057
100$23,889,131$0$0$14,960,896