Can I retire at age 56 with 503,000?

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 $503,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$41,537$41,167$40,806$40,454$40,110$39,236
2 years$20,563$20,180$19,809$19,449$19,100$18,224
3 years$13,572$13,188$12,818$12,461$12,118$11,267
4 years$10,078$9,694$9,328$8,978$8,643$7,823
5 years$7,982$7,601$7,239$6,896$6,570$5,785
6 years$6,585$6,206$5,850$5,514$5,199$4,448
7 years$5,587$5,212$4,861$4,534$4,228$3,513
8 years$4,839$4,468$4,123$3,803$3,507$2,827
9 years$4,258$3,890$3,551$3,240$2,954$2,308
10 years$3,793$3,429$3,096$2,793$2,517$1,904
11 years$3,413$3,053$2,726$2,430$2,164$1,585
12 years$3,097$2,740$2,419$2,132$1,876$1,328
13 years$2,829$2,476$2,161$1,882$1,636$1,119
14 years$2,600$2,251$1,942$1,671$1,434$947
15 years$2,402$2,056$1,753$1,490$1,262$805
16 years$2,228$1,886$1,589$1,334$1,116$686
17 years$2,076$1,737$1,446$1,199$989$586
18 years$1,940$1,605$1,320$1,080$880$502
19 years$1,819$1,488$1,209$976$784$430
20 years$1,710$1,382$1,109$884$700$370
21 years$1,611$1,288$1,020$802$627$318
22 years$1,522$1,202$940$729$562$274
23 years$1,440$1,124$868$664$504$236
24 years$1,365$1,053$803$606$453$204
25 years$1,297$989$744$553$408$176
26 years$1,234$929$690$506$367$152
27 years$1,175$874$641$463$331$131
28 years$1,121$824$595$424$299$114
29 years$1,071$777$554$389$270$98
30 years$1,024$734$516$357$244$85
31 years$980$694$481$328$220$74
32 years$939$657$449$301$199$64
33 years$901$622$419$277$180$55
34 years$865$589$392$255$163$48
35 years$831$559$366$235$148$41
36 years$799$531$343$216$134$36
37 years$769$504$321$199$122$31
38 years$740$479$300$184$110$27
39 years$713$455$281$169$100$23
40 years$688$433$264$156$91$20
41 years$663$412$247$144$82$18
42 years$640$393$232$133$75$15
43 years$618$374$218$123$68$13
44 years$598$357$204$113$61$11
45 years$578$340$192$105$56$10
46 years$559$324$180$97$51$9
47 years$541$310$169$89$46$7
48 years$523$296$159$83$42$6
49 years$507$282$149$76$38$6
50 years$491$270$141$71$34$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $503,000, adding $6,068 every year, while hoping to spend $38,536 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: 61/21/18 Blend
55$503,000$503,000$503,000$503,000
56$560,565$533,906$526,110$591,818
57$576,741$519,066$502,732$598,785
58$593,275$502,206$477,280$601,552
59$610,163$483,188$449,643$603,679
60$627,400$461,865$419,706$605,107
61$644,977$438,079$387,349$605,775
62$662,885$411,665$352,446$605,616
63$681,111$382,448$314,865$604,559
64$699,641$350,245$274,469$602,529
65$718,456$314,858$231,115$599,442
66$737,535$276,083$184,654$595,212
67$756,852$233,700$134,929$589,745
68$776,379$187,479$81,777$582,940
69$796,081$137,177$25,027$574,688
70$815,918$82,535$0$564,874
71$835,846$23,284$0$560,198
72$855,813$0$0$559,274
73$875,760$0$0$566,628
74$895,620$0$0$579,283
75$915,317$0$0$591,807
76$934,766$0$0$604,141
77$953,871$0$0$616,221
78$972,523$0$0$627,972
79$990,601$0$0$639,312
80$1,007,967$0$0$650,148
81$1,024,468$0$0$660,377
82$1,039,934$0$0$669,882
83$1,054,173$0$0$678,535
84$1,066,972$0$0$686,190
85$1,078,092$0$0$692,687
86$1,087,268$0$0$697,847
87$1,094,206$0$0$701,470
88$1,098,576$0$0$703,334
89$1,100,014$0$0$703,193
90$1,098,114$0$0$700,774
91$1,092,427$0$0$695,773
92$1,082,452$0$0$687,852
93$1,067,635$0$0$676,639
94$1,047,362$0$0$661,718
95$1,020,953$0$0$642,631
96$987,652$0$0$618,870
97$946,626$0$0$589,873
98$896,949$0$0$555,015
99$837,600$0$0$513,609
100$767,445$0$0$464,892