Can I retire at age 56 with 471,000?

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 $471,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$38,895$38,548$38,210$37,880$37,558$36,635
2 years$19,255$18,896$18,549$18,212$17,885$16,961
3 years$12,709$12,349$12,002$11,668$11,347$10,451
4 years$9,437$9,078$8,735$8,406$8,093$7,231
5 years$7,474$7,117$6,778$6,457$6,152$5,327
6 years$6,166$5,812$5,478$5,164$4,868$4,081
7 years$5,232$4,881$4,552$4,245$3,959$3,210
8 years$4,532$4,184$3,861$3,561$3,284$2,573
9 years$3,987$3,643$3,325$3,033$2,766$2,091
10 years$3,552$3,211$2,899$2,615$2,357$1,718
11 years$3,196$2,858$2,552$2,276$2,027$1,424
12 years$2,900$2,565$2,265$1,996$1,756$1,188
13 years$2,649$2,318$2,024$1,762$1,532$996
14 years$2,435$2,107$1,818$1,564$1,343$839
15 years$2,249$1,925$1,642$1,395$1,182$709
16 years$2,087$1,766$1,488$1,249$1,045$601
17 years$1,944$1,627$1,354$1,122$926$511
18 years$1,816$1,503$1,236$1,011$824$435
19 years$1,703$1,393$1,132$914$734$372
20 years$1,601$1,295$1,039$828$656$318
21 years$1,509$1,206$955$751$587$272
22 years$1,425$1,126$881$683$526$233
23 years$1,348$1,053$813$622$472$200
24 years$1,279$986$752$567$424$171
25 years$1,214$926$696$518$382$147
26 years$1,155$870$646$474$344$126
27 years$1,100$819$600$434$310$109
28 years$1,050$771$558$397$280$93
29 years$1,003$728$519$364$253$80
30 years$959$687$483$334$228$69
31 years$918$650$451$307$206$59
32 years$879$615$420$282$187$51
33 years$843$582$393$260$169$44
34 years$810$552$367$239$153$38
35 years$778$523$343$220$139$33
36 years$748$497$321$202$126$28
37 years$720$472$300$187$114$24
38 years$693$448$281$172$103$21
39 years$668$426$263$159$94$18
40 years$644$406$247$146$85$16
41 years$621$386$232$135$77$13
42 years$600$368$217$125$70$12
43 years$579$350$204$115$63$10
44 years$560$334$191$106$58$9
45 years$541$319$180$98$52$7
46 years$523$304$169$91$47$6
47 years$506$290$158$84$43$5
48 years$490$277$149$77$39$5
49 years$475$264$140$71$36$4
50 years$460$252$132$66$32$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $471,000, adding $5,758 every year, while hoping to spend $28,324 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: 70/21/9 Blend
55$471,000$471,000$471,000$471,000
56$524,981$500,018$492,718$560,447
57$548,393$494,383$479,087$579,053
58$573,243$487,522$464,051$595,393
59$599,649$479,345$447,532$612,507
60$627,738$469,758$429,449$630,467
61$657,651$458,659$409,719$649,350
62$689,539$445,942$388,253$669,241
63$723,572$431,493$364,959$690,239
64$759,933$415,193$339,741$712,448
65$798,823$396,914$312,500$735,987
66$840,463$376,523$283,129$760,987
67$885,096$353,878$251,519$787,595
68$932,986$328,829$217,556$815,970
69$984,427$301,217$181,119$846,292
70$1,039,736$270,875$142,085$878,760
71$1,099,267$237,625$100,322$913,593
72$1,163,404$201,281$55,695$951,036
73$1,232,572$161,644$8,062$991,358
74$1,307,236$118,506$0$1,034,858
75$1,387,907$71,646$0$1,085,977
76$1,475,147$20,831$0$1,142,066
77$1,569,575$0$0$1,202,773
78$1,671,869$0$0$1,276,466
79$1,782,776$0$0$1,361,604
80$1,903,118$0$0$1,454,006
81$2,033,797$0$0$1,554,369
82$2,175,807$0$0$1,663,459
83$2,330,241$0$0$1,782,118
84$2,498,301$0$0$1,911,274
85$2,681,311$0$0$2,051,945
86$2,880,724$0$0$2,205,256
87$3,098,145$0$0$2,372,441
88$3,335,335$0$0$2,554,859
89$3,594,236$0$0$2,754,007
90$3,876,983$0$0$2,971,533
91$4,185,929$0$0$3,209,251
92$4,523,663$0$0$3,469,156
93$4,893,035$0$0$3,753,446
94$5,297,183$0$0$4,064,544
95$5,739,564$0$0$4,405,113
96$6,223,983$0$0$4,778,088
97$6,754,631$0$0$5,186,702
98$7,336,122$0$0$5,634,514
99$7,973,540$0$0$6,125,444
100$8,672,482$0$0$6,663,810