Can I retire at age 56 with 502,000?

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 $502,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$41,455$41,085$40,725$40,374$40,030$39,761
2 years$20,522$20,140$19,770$19,410$19,062$18,791
3 years$13,546$13,162$12,792$12,436$12,094$11,829
4 years$10,058$9,675$9,309$8,960$8,625$8,368
5 years$7,966$7,585$7,224$6,882$6,557$6,309
6 years$6,572$6,194$5,838$5,504$5,188$4,949
7 years$5,576$5,202$4,852$4,525$4,219$3,990
8 years$4,830$4,459$4,115$3,796$3,500$3,280
9 years$4,250$3,882$3,544$3,233$2,948$2,737
10 years$3,786$3,422$3,090$2,787$2,512$2,310
11 years$3,407$3,046$2,720$2,425$2,160$1,967
12 years$3,091$2,734$2,414$2,127$1,872$1,688
13 years$2,824$2,471$2,157$1,878$1,632$1,457
14 years$2,595$2,246$1,938$1,667$1,431$1,264
15 years$2,397$2,052$1,750$1,487$1,260$1,101
16 years$2,224$1,883$1,586$1,331$1,114$963
17 years$2,071$1,734$1,443$1,196$987$845
18 years$1,936$1,602$1,318$1,078$878$743
19 years$1,815$1,485$1,206$974$782$655
20 years$1,706$1,380$1,107$882$699$578
21 years$1,608$1,285$1,018$801$625$511
22 years$1,519$1,200$939$728$561$453
23 years$1,437$1,122$867$663$503$402
24 years$1,363$1,051$801$605$452$357
25 years$1,294$987$742$552$407$317
26 years$1,231$927$688$505$367$282
27 years$1,173$873$639$462$331$251
28 years$1,119$822$594$423$298$224
29 years$1,069$776$553$388$269$200
30 years$1,022$733$515$356$243$178
31 years$978$693$480$327$220$159
32 years$937$655$448$301$199$142
33 years$899$621$418$277$180$127
34 years$863$588$391$255$163$113
35 years$829$558$365$234$148$101
36 years$797$529$342$216$134$90
37 years$767$503$320$199$121$81
38 years$739$478$300$183$110$72
39 years$712$454$281$169$100$65
40 years$686$432$263$156$90$58
41 years$662$412$247$144$82$52
42 years$639$392$231$133$74$46
43 years$617$373$217$122$68$42
44 years$596$356$204$113$61$37
45 years$577$339$191$104$56$33
46 years$558$324$180$96$51$30
47 years$540$309$169$89$46$27
48 years$522$295$159$82$42$24
49 years$506$282$149$76$38$21
50 years$490$269$140$70$34$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $502,000, adding $5,882 every year, while hoping to spend $50,035 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: 59/21/20 Blend
55$502,000$502,000$502,000$502,000
56$559,271$532,665$524,884$588,993
57$563,080$505,529$489,231$582,699
58$565,600$475,386$450,706$569,864
59$566,648$442,036$409,162$554,744
60$566,018$405,268$364,441$537,129
61$563,484$364,858$316,381$516,787
62$558,792$320,569$264,813$493,468
63$551,664$272,152$209,559$466,898
64$541,789$219,343$150,434$436,779
65$528,823$161,862$87,245$402,785
66$512,385$99,415$19,790$364,564
67$492,054$31,692$0$321,729
68$467,362$0$0$284,998
69$437,792$0$0$257,624
70$402,774$0$0$234,004
71$361,674$0$0$206,404
72$313,793$0$0$174,367
73$258,358$0$0$137,390
74$194,514$0$0$94,917
75$121,317$0$0$46,331
76$37,723$0$0$0
77$0$0$0$0
78$0$0$0$0
79$0$0$0$0
80$0$0$0$0
81$0$0$0$0
82$0$0$0$0
83$0$0$0$0
84$0$0$0$0
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0