Can I retire at age 56 with 477,000?

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 $477,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$39,390$39,039$38,697$38,363$38,037$36,878
2 years$19,500$19,137$18,785$18,444$18,113$16,955
3 years$12,871$12,506$12,155$11,817$11,491$10,372
4 years$9,557$9,193$8,846$8,514$8,196$7,122
5 years$7,569$7,208$6,865$6,539$6,230$5,206
6 years$6,244$5,886$5,548$5,229$4,930$3,955
7 years$5,298$4,943$4,610$4,299$4,009$3,085
8 years$4,589$4,237$3,910$3,607$3,326$2,451
9 years$4,038$3,689$3,368$3,072$2,801$1,974
10 years$3,597$3,252$2,936$2,648$2,387$1,607
11 years$3,237$2,895$2,585$2,305$2,053$1,319
12 years$2,937$2,598$2,294$2,022$1,779$1,089
13 years$2,683$2,348$2,049$1,785$1,551$904
14 years$2,466$2,134$1,841$1,584$1,360$754
15 years$2,278$1,950$1,663$1,413$1,197$631
16 years$2,113$1,789$1,507$1,265$1,058$529
17 years$1,968$1,647$1,372$1,137$938$445
18 years$1,840$1,522$1,252$1,024$834$375
19 years$1,725$1,411$1,146$926$743$316
20 years$1,621$1,311$1,052$838$664$267
21 years$1,528$1,221$968$761$594$226
22 years$1,443$1,140$892$692$533$191
23 years$1,366$1,066$823$630$478$162
24 years$1,295$999$762$575$430$137
25 years$1,230$937$705$525$387$117
26 years$1,170$881$654$480$348$99
27 years$1,114$829$607$439$314$84
28 years$1,063$781$565$402$283$71
29 years$1,015$737$525$369$256$61
30 years$971$696$489$339$231$52
31 years$929$658$456$311$209$44
32 years$891$623$426$286$189$37
33 years$854$590$398$263$171$32
34 years$820$559$371$242$155$27
35 years$788$530$347$223$140$23
36 years$758$503$325$205$127$19
37 years$729$478$304$189$115$17
38 years$702$454$285$174$104$14
39 years$676$432$267$161$95$12
40 years$652$411$250$148$86$10
41 years$629$391$234$137$78$9
42 years$607$372$220$126$71$7
43 years$587$355$206$116$64$6
44 years$567$338$194$107$58$5
45 years$548$323$182$99$53$5
46 years$530$308$171$92$48$4
47 years$513$294$161$85$44$3
48 years$496$280$151$78$40$3
49 years$481$268$142$72$36$2
50 years$466$256$133$67$33$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $477,000, adding $3,465 every year, while hoping to spend $36,086 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: 34/48/18 Blend
55$477,000$477,000$477,000$477,000
56$529,228$503,947$496,554$544,183
57$544,814$490,245$474,793$541,771
58$560,781$474,663$451,094$535,576
59$577,128$457,069$425,353$528,134
60$593,856$437,326$397,464$519,355
61$610,963$415,289$367,312$509,145
62$628,445$390,802$334,781$497,402
63$646,299$363,704$299,749$484,020
64$664,517$333,820$262,085$468,886
65$683,090$300,970$221,658$451,880
66$702,007$264,960$178,326$432,875
67$721,256$225,587$131,943$411,736
68$740,818$182,635$82,358$388,320
69$760,675$135,877$29,410$362,476
70$780,802$85,074$0$334,043
71$801,173$29,971$0$308,055
72$821,754$0$0$285,494
73$842,508$0$0$276,235
74$863,393$0$0$282,818
75$884,359$0$0$289,392
76$905,349$0$0$295,936
77$926,301$0$0$302,422
78$947,141$0$0$308,824
79$967,786$0$0$315,109
80$988,145$0$0$321,241
81$1,008,112$0$0$327,179
82$1,027,570$0$0$332,877
83$1,046,386$0$0$338,285
84$1,064,413$0$0$343,346
85$1,081,484$0$0$347,995
86$1,097,415$0$0$352,161
87$1,111,997$0$0$355,766
88$1,125,000$0$0$358,720
89$1,136,166$0$0$360,925
90$1,145,208$0$0$362,273
91$1,151,807$0$0$362,641
92$1,155,607$0$0$361,894
93$1,156,213$0$0$359,882
94$1,153,188$0$0$356,438
95$1,146,043$0$0$351,379
96$1,134,240$0$0$344,499
97$1,117,179$0$0$335,571
98$1,094,196$0$0$324,345
99$1,064,555$0$0$310,542
100$1,027,442$0$0$293,854