Can I retire at age 56 with 479,000?

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 $479,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$39,555$39,203$38,859$38,524$38,196$37,003
2 years$19,582$19,217$18,864$18,521$18,189$16,997
3 years$12,925$12,559$12,206$11,867$11,540$10,387
4 years$9,597$9,232$8,883$8,549$8,230$7,126
5 years$7,601$7,238$6,893$6,567$6,256$5,203
6 years$6,271$5,910$5,571$5,251$4,951$3,949
7 years$5,321$4,963$4,630$4,317$4,026$3,076
8 years$4,609$4,255$3,926$3,622$3,340$2,441
9 years$4,055$3,704$3,382$3,085$2,813$1,964
10 years$3,612$3,265$2,948$2,659$2,397$1,597
11 years$3,251$2,907$2,596$2,314$2,061$1,308
12 years$2,949$2,609$2,303$2,030$1,786$1,079
13 years$2,694$2,358$2,058$1,792$1,558$895
14 years$2,476$2,143$1,849$1,591$1,365$745
15 years$2,287$1,958$1,670$1,419$1,202$622
16 years$2,122$1,796$1,514$1,270$1,062$521
17 years$1,977$1,654$1,377$1,141$942$438
18 years$1,847$1,529$1,257$1,029$838$368
19 years$1,732$1,417$1,151$929$747$310
20 years$1,628$1,317$1,056$842$667$262
21 years$1,534$1,226$972$764$597$221
22 years$1,449$1,145$896$695$535$187
23 years$1,371$1,071$827$633$480$158
24 years$1,300$1,003$765$577$432$134
25 years$1,235$941$708$527$388$113
26 years$1,175$885$657$482$350$96
27 years$1,119$833$610$441$315$81
28 years$1,068$785$567$404$285$69
29 years$1,020$740$528$371$257$59
30 years$975$699$492$340$232$50
31 years$933$661$458$312$210$42
32 years$894$625$428$287$190$36
33 years$858$592$399$264$172$30
34 years$823$561$373$243$156$26
35 years$791$532$349$224$141$22
36 years$761$505$326$206$128$19
37 years$732$480$305$190$116$16
38 years$705$456$286$175$105$13
39 years$679$434$268$161$95$11
40 years$655$413$251$149$86$10
41 years$632$393$235$137$78$8
42 years$610$374$221$127$71$7
43 years$589$356$207$117$64$6
44 years$569$340$195$108$59$5
45 years$550$324$183$100$53$4
46 years$532$309$172$92$48$4
47 years$515$295$161$85$44$3
48 years$498$282$151$79$40$3
49 years$483$269$142$73$36$2
50 years$468$257$134$67$33$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $479,000, adding $6,331 every year, while hoping to spend $27,228 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: 31/49/20 Blend
55$479,000$479,000$479,000$479,000
56$534,388$509,001$501,577$547,459
57$559,926$504,972$489,409$553,809
58$587,155$499,833$475,922$557,739
59$616,221$493,500$461,041$561,396
60$647,280$485,887$444,690$564,774
61$680,506$476,898$426,791$567,867
62$716,087$466,436$407,258$570,672
63$754,233$454,396$386,006$573,188
64$795,170$440,667$362,942$575,417
65$839,149$425,131$337,972$577,365
66$886,444$407,664$310,996$579,041
67$937,357$388,136$281,910$580,458
68$992,218$366,405$250,605$581,638
69$1,051,392$342,327$216,968$582,603
70$1,115,277$315,744$180,880$583,387
71$1,184,313$286,493$142,217$584,029
72$1,258,982$254,401$100,851$584,579
73$1,339,814$219,282$56,645$585,095
74$1,427,392$180,944$9,460$585,647
75$1,522,357$139,181$0$586,320
76$1,625,414$93,777$0$595,937
77$1,737,337$44,503$0$608,607
78$1,858,980$0$0$622,477
79$1,991,279$0$0$642,525
80$2,135,268$0$0$690,526
81$2,292,081$0$0$742,870
82$2,462,969$0$0$799,984
83$2,649,305$0$0$862,336
84$2,852,604$0$0$930,441
85$3,074,531$0$0$1,004,867
86$3,316,919$0$0$1,086,240
87$3,581,788$0$0$1,175,248
88$3,871,360$0$0$1,272,648
89$4,188,082$0$0$1,379,275
90$4,534,647$0$0$1,496,048
91$4,914,022$0$0$1,623,978
92$5,329,474$0$0$1,764,180
93$5,784,600$0$0$1,917,881
94$6,283,362$0$0$2,086,433
95$6,830,122$0$0$2,271,325
96$7,429,687$0$0$2,474,196
97$8,087,348$0$0$2,696,852
98$8,808,936$0$0$2,941,284
99$9,600,871$0$0$3,209,682
100$10,470,226$0$0$3,504,460