Can I retire at age 56 with 480,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$39,638$39,285$38,940$38,604$38,276$37,751
2 years$19,623$19,257$18,903$18,560$18,227$17,698
3 years$12,952$12,585$12,232$11,891$11,564$11,049
4 years$9,617$9,251$8,901$8,567$8,247$7,750
5 years$7,617$7,253$6,908$6,580$6,269$5,791
6 years$6,284$5,923$5,583$5,262$4,961$4,502
7 years$5,332$4,974$4,639$4,326$4,034$3,595
8 years$4,618$4,264$3,934$3,629$3,347$2,927
9 years$4,064$3,712$3,389$3,091$2,819$2,418
10 years$3,620$3,272$2,954$2,665$2,402$2,020
11 years$3,257$2,913$2,601$2,319$2,065$1,702
12 years$2,955$2,614$2,308$2,034$1,790$1,445
13 years$2,700$2,363$2,062$1,796$1,561$1,234
14 years$2,481$2,148$1,853$1,594$1,368$1,058
15 years$2,292$1,962$1,673$1,422$1,205$912
16 years$2,127$1,800$1,517$1,273$1,065$788
17 years$1,981$1,658$1,380$1,144$944$683
18 years$1,851$1,532$1,260$1,031$839$593
19 years$1,735$1,420$1,153$931$748$516
20 years$1,631$1,319$1,059$844$668$450
21 years$1,537$1,229$974$766$598$393
22 years$1,452$1,147$897$696$536$344
23 years$1,374$1,073$829$634$481$301
24 years$1,303$1,005$766$578$433$264
25 years$1,238$943$710$528$389$232
26 years$1,177$887$658$483$351$203
27 years$1,121$834$611$442$316$179
28 years$1,070$786$568$405$285$157
29 years$1,022$742$529$371$258$138
30 years$977$700$493$341$233$121
31 years$935$662$459$313$210$107
32 years$896$627$428$288$190$94
33 years$860$593$400$265$172$83
34 years$825$562$374$243$156$73
35 years$793$533$349$224$141$64
36 years$762$506$327$206$128$57
37 years$734$481$306$190$116$50
38 years$706$457$287$175$105$44
39 years$681$435$268$162$95$39
40 years$656$413$252$149$86$34
41 years$633$394$236$137$78$30
42 years$611$375$221$127$71$27
43 years$590$357$208$117$65$23
44 years$570$340$195$108$59$21
45 years$551$325$183$100$53$18
46 years$533$310$172$92$48$16
47 years$516$295$162$85$44$14
48 years$500$282$152$79$40$13
49 years$484$269$143$73$36$11
50 years$469$257$134$67$33$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $480,000, adding $4,583 every year, while hoping to spend $27,368 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: 63/17/20 Blend
55$480,000$480,000$480,000$480,000
56$533,687$508,247$500,807$564,296
57$559,004$504,032$488,465$581,253
58$585,986$498,693$474,792$596,280
59$614,774$492,146$459,715$612,057
60$645,522$484,303$443,157$628,660
61$678,400$475,068$425,037$646,174
62$713,593$464,343$405,272$664,691
63$751,304$452,021$383,773$684,316
64$791,758$437,990$360,450$705,166
65$835,197$422,132$335,206$727,369
66$881,892$404,321$307,940$751,069
67$932,138$384,425$278,548$776,425
68$986,258$362,304$246,921$803,615
69$1,044,607$337,808$212,945$832,836
70$1,107,578$310,781$176,499$864,306
71$1,175,598$281,057$137,459$898,269
72$1,249,141$248,461$95,696$934,994
73$1,328,725$212,807$51,073$974,780
74$1,414,920$173,899$3,449$1,017,958
75$1,508,352$131,531$0$1,064,897
76$1,609,711$85,483$0$1,126,114
77$1,719,756$35,526$0$1,193,394
78$1,839,319$0$0$1,266,536
79$1,969,319$0$0$1,349,606
80$2,110,764$0$0$1,447,250
81$2,264,764$0$0$1,553,594
82$2,432,542$0$0$1,669,485
83$2,615,441$0$0$1,795,856
84$2,814,942$0$0$1,933,733
85$3,032,672$0$0$2,084,246
86$3,270,425$0$0$2,248,640
87$3,530,174$0$0$2,428,284
88$3,814,091$0$0$2,624,686
89$4,124,570$0$0$2,839,505
90$4,464,242$0$0$3,074,569
91$4,836,008$0$0$3,331,891
92$5,243,062$0$0$3,613,687
93$5,688,919$0$0$3,922,398
94$6,177,452$0$0$4,260,710
95$6,712,925$0$0$4,631,584
96$7,300,037$0$0$5,038,281
97$7,943,959$0$0$5,484,390
98$8,650,389$0$0$5,973,867
99$9,425,604$0$0$6,511,068
100$10,276,517$0$0$7,100,790