Can I retire at age 56 with 501,000?

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 $501,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$41,372$41,004$40,644$40,293$39,950$38,921
2 years$20,481$20,100$19,730$19,372$19,024$17,994
3 years$13,519$13,135$12,767$12,412$12,070$11,071
4 years$10,038$9,656$9,291$8,942$8,608$7,649
5 years$7,950$7,570$7,210$6,868$6,544$5,626
6 years$6,559$6,182$5,827$5,493$5,178$4,303
7 years$5,565$5,191$4,842$4,516$4,211$3,379
8 years$4,820$4,450$4,107$3,788$3,493$2,703
9 years$4,241$3,875$3,537$3,227$2,942$2,193
10 years$3,778$3,415$3,084$2,781$2,507$1,799
11 years$3,400$3,040$2,715$2,421$2,156$1,488
12 years$3,085$2,729$2,409$2,123$1,868$1,238
13 years$2,818$2,466$2,153$1,875$1,629$1,036
14 years$2,590$2,242$1,934$1,664$1,428$871
15 years$2,392$2,048$1,746$1,484$1,257$735
16 years$2,220$1,879$1,583$1,329$1,111$622
17 years$2,067$1,730$1,441$1,194$985$527
18 years$1,932$1,599$1,315$1,076$876$448
19 years$1,811$1,482$1,204$972$781$382
20 years$1,703$1,377$1,105$880$698$325
21 years$1,605$1,283$1,016$799$624$278
22 years$1,516$1,197$937$727$560$237
23 years$1,434$1,120$865$662$502$203
24 years$1,360$1,049$800$604$451$174
25 years$1,292$985$741$551$406$149
26 years$1,229$925$687$504$366$128
27 years$1,171$871$638$461$330$109
28 years$1,117$821$593$423$298$94
29 years$1,067$774$552$388$269$81
30 years$1,020$731$514$356$243$69
31 years$976$691$479$327$220$59
32 years$935$654$447$300$199$51
33 years$897$619$418$276$180$44
34 years$861$587$390$254$163$38
35 years$828$557$365$234$147$32
36 years$796$528$341$215$134$28
37 years$766$502$319$198$121$24
38 years$737$477$299$183$110$20
39 years$710$454$280$169$100$18
40 years$685$432$263$156$90$15
41 years$661$411$246$144$82$13
42 years$638$391$231$132$74$11
43 years$616$373$217$122$67$10
44 years$595$355$203$113$61$8
45 years$575$339$191$104$56$7
46 years$557$323$179$96$50$6
47 years$539$308$169$89$46$5
48 years$521$294$158$82$42$5
49 years$505$281$149$76$38$4
50 years$489$269$140$70$34$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $501,000, adding $3,590 every year, while hoping to spend $36,195 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: 59/22/19 Blend
55$501,000$501,000$501,000$501,000
56$555,805$529,252$521,487$585,630
57$573,986$516,674$500,445$593,680
58$592,808$502,267$477,486$598,178
59$612,299$485,902$452,506$602,266
60$632,487$467,445$425,399$605,909
61$653,403$446,752$396,052$609,073
62$675,079$423,672$364,348$611,721
63$697,550$398,044$330,166$613,814
64$720,851$369,700$293,378$615,311
65$745,022$338,459$253,850$616,171
66$770,103$304,133$211,443$616,350
67$796,139$266,521$166,012$615,801
68$823,176$225,411$117,405$614,476
69$851,265$180,582$65,463$612,325
70$880,459$131,795$10,021$609,297
71$910,816$78,802$0$605,337
72$942,395$21,340$0$610,352
73$975,265$0$0$617,136
74$1,009,494$0$0$633,528
75$1,045,160$0$0$655,998
76$1,082,343$0$0$679,433
77$1,121,133$0$0$703,888
78$1,161,623$0$0$729,424
79$1,203,916$0$0$756,109
80$1,248,124$0$0$784,012
81$1,294,364$0$0$813,211
82$1,342,768$0$0$843,788
83$1,393,475$0$0$875,836
84$1,446,637$0$0$909,450
85$1,502,418$0$0$944,737
86$1,560,999$0$0$981,814
87$1,622,572$0$0$1,020,805
88$1,687,351$0$0$1,061,846
89$1,755,564$0$0$1,105,087
90$1,827,462$0$0$1,150,689
91$1,903,317$0$0$1,198,828
92$1,983,428$0$0$1,249,696
93$2,068,118$0$0$1,303,503
94$2,157,742$0$0$1,360,479
95$2,252,685$0$0$1,420,872
96$2,353,370$0$0$1,484,957
97$2,460,260$0$0$1,553,031
98$2,573,857$0$0$1,625,423
99$2,694,715$0$0$1,702,489
100$2,823,438$0$0$1,784,621