Can I retire at age 56 with 699,000?

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 $699,000?

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 years$57,723$57,209$56,707$56,217$55,739$54,816
2 years$28,576$28,043$27,528$27,028$26,542$25,615
3 years$18,861$18,327$17,812$17,317$16,840$15,937
4 years$14,005$13,472$12,963$12,476$12,010$11,139
5 years$11,092$10,562$10,060$9,583$9,130$8,293
6 years$9,151$8,625$8,130$7,663$7,224$6,422
7 years$7,764$7,243$6,756$6,300$5,875$5,108
8 years$6,725$6,209$5,729$5,285$4,874$4,142
9 years$5,917$5,406$4,935$4,502$4,105$3,408
10 years$5,272$4,765$4,302$3,881$3,497$2,835
11 years$4,744$4,242$3,788$3,377$3,008$2,379
12 years$4,304$3,807$3,361$2,962$2,607$2,010
13 years$3,932$3,441$3,003$2,615$2,273$1,708
14 years$3,614$3,128$2,698$2,322$1,992$1,459
15 years$3,338$2,857$2,436$2,070$1,754$1,250
16 years$3,097$2,621$2,209$1,854$1,550$1,075
17 years$2,884$2,414$2,010$1,666$1,375$927
18 years$2,696$2,231$1,835$1,501$1,222$801
19 years$2,527$2,067$1,680$1,356$1,090$694
20 years$2,376$1,921$1,542$1,228$973$602
21 years$2,239$1,789$1,418$1,115$871$523
22 years$2,114$1,670$1,307$1,014$781$455
23 years$2,001$1,562$1,207$923$701$396
24 years$1,897$1,464$1,116$842$630$345
25 years$1,802$1,374$1,034$769$567$301
26 years$1,714$1,291$959$703$511$263
27 years$1,633$1,215$890$644$460$230
28 years$1,558$1,145$827$590$415$201
29 years$1,488$1,080$770$541$375$176
30 years$1,423$1,020$717$496$339$154
31 years$1,362$964$669$456$306$134
32 years$1,305$912$624$419$277$118
33 years$1,252$864$583$385$251$103
34 years$1,202$819$544$354$227$90
35 years$1,155$777$509$326$206$79
36 years$1,110$737$476$300$186$69
37 years$1,068$700$446$277$169$61
38 years$1,029$665$417$255$153$53
39 years$991$633$391$235$139$47
40 years$956$602$366$217$126$41
41 years$922$573$344$200$114$36
42 years$890$546$322$185$104$31
43 years$859$520$302$171$94$28
44 years$831$496$284$157$85$24
45 years$803$473$267$145$78$21
46 years$777$451$250$134$70$19
47 years$751$430$235$124$64$16
48 years$727$411$221$115$58$14
49 years$704$392$208$106$53$13
50 years$682$375$195$98$48$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $699,000, adding $3,410 every year, while hoping to spend $20,672 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: 49/29/22 Blend
55$699,000$699,000$699,000$699,000
56$773,815$736,768$725,934$806,781
57$830,750$750,875$728,258$844,170
58$892,799$764,980$729,967$882,404
59$960,462$779,062$731,018$923,515
60$1,034,289$793,097$731,368$967,782
61$1,114,887$807,058$730,969$1,015,514
62$1,202,921$820,920$729,772$1,067,052
63$1,299,126$834,652$727,726$1,122,770
64$1,404,309$848,222$724,777$1,183,084
65$1,519,359$861,596$720,868$1,248,451
66$1,645,257$874,738$715,941$1,319,374
67$1,783,081$887,607$709,932$1,396,411
68$1,934,018$900,163$702,778$1,480,174
69$2,099,376$912,359$694,409$1,571,341
70$2,280,595$924,147$684,755$1,670,659
71$2,479,262$935,477$673,740$1,778,951
72$2,697,123$946,292$661,287$1,897,127
73$2,936,103$956,533$647,313$2,026,189
74$3,198,321$966,138$631,733$2,167,242
75$3,486,111$975,041$614,458$2,321,507
76$3,802,045$983,168$595,393$2,490,330
77$4,148,955$990,445$574,440$2,675,193
78$4,529,962$996,790$551,497$2,877,735
79$4,948,503$1,002,118$526,457$3,099,761
80$5,408,364$1,006,335$499,207$3,343,262
81$5,913,717$1,009,345$469,630$3,610,435
82$6,469,157$1,011,045$437,604$3,903,701
83$7,079,748$1,011,323$403,001$4,225,733
84$7,751,068$1,010,063$365,687$4,579,475
85$8,489,261$1,007,141$325,522$4,968,178
86$9,301,099$1,002,424$282,360$5,395,424
87$10,194,042$995,773$236,050$5,865,164
88$11,176,308$987,039$186,431$6,381,755
89$12,256,953$976,066$133,338$6,950,002
90$13,445,954$962,686$76,597$7,575,201
91$14,754,306$946,721$16,027$8,263,194
92$16,194,121$927,986$0$9,020,423
93$17,778,745$906,282$0$9,865,400
94$19,522,885$881,398$0$10,799,301
95$21,442,745$853,112$0$11,827,042
96$23,556,179$821,188$0$12,958,192
97$25,882,861$785,378$0$14,203,298
98$28,444,468$745,417$0$15,573,985
99$31,264,889$701,028$0$17,083,067
100$34,370,444$651,914$0$18,744,667