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%18.8%
1 years$41,537$41,167$40,806$40,454$40,110$38,687
2 years$20,563$20,180$19,809$19,449$19,100$17,681
3 years$13,572$13,188$12,818$12,461$12,118$10,748
4 years$10,078$9,694$9,328$8,978$8,643$7,333
5 years$7,982$7,601$7,239$6,896$6,570$5,323
6 years$6,585$6,206$5,850$5,514$5,199$4,016
7 years$5,587$5,212$4,861$4,534$4,228$3,108
8 years$4,839$4,468$4,123$3,803$3,507$2,451
9 years$4,258$3,890$3,551$3,240$2,954$1,959
10 years$3,793$3,429$3,096$2,793$2,517$1,581
11 years$3,413$3,053$2,726$2,430$2,164$1,287
12 years$3,097$2,740$2,419$2,132$1,876$1,054
13 years$2,829$2,476$2,161$1,882$1,636$867
14 years$2,600$2,251$1,942$1,671$1,434$716
15 years$2,402$2,056$1,753$1,490$1,262$594
16 years$2,228$1,886$1,589$1,334$1,116$493
17 years$2,076$1,737$1,446$1,199$989$411
18 years$1,940$1,605$1,320$1,080$880$343
19 years$1,819$1,488$1,209$976$784$286
20 years$1,710$1,382$1,109$884$700$240
21 years$1,611$1,288$1,020$802$627$201
22 years$1,522$1,202$940$729$562$168
23 years$1,440$1,124$868$664$504$141
24 years$1,365$1,053$803$606$453$118
25 years$1,297$989$744$553$408$99
26 years$1,234$929$690$506$367$83
27 years$1,175$874$641$463$331$70
28 years$1,121$824$595$424$299$59
29 years$1,071$777$554$389$270$50
30 years$1,024$734$516$357$244$42
31 years$980$694$481$328$220$35
32 years$939$657$449$301$199$29
33 years$901$622$419$277$180$25
34 years$865$589$392$255$163$21
35 years$831$559$366$235$148$18
36 years$799$531$343$216$134$15
37 years$769$504$321$199$122$12
38 years$740$479$300$184$110$10
39 years$713$455$281$169$100$9
40 years$688$433$264$156$91$7
41 years$663$412$247$144$82$6
42 years$640$393$232$133$75$5
43 years$618$374$218$123$68$4
44 years$598$357$204$113$61$4
45 years$578$340$192$105$56$3
46 years$559$324$180$97$51$3
47 years$541$310$169$89$46$2
48 years$523$296$159$83$42$2
49 years$507$282$149$76$38$2
50 years$491$270$141$71$34$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $503,000, adding $5,281 every year, while hoping to spend $32,890 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: 66/11/23 Blend
55$503,000$503,000$503,000$503,000
56$559,753$533,094$525,298$593,061
57$581,853$524,221$507,901$607,228
58$605,106$513,811$488,818$618,491
59$629,592$501,754$467,960$630,043
60$655,404$487,933$445,229$641,912
61$682,638$472,225$420,528$654,134
62$711,402$454,499$393,751$666,744
63$741,813$434,617$364,789$679,788
64$773,999$412,434$333,530$693,314
65$808,097$387,794$299,854$707,376
66$844,261$360,534$263,637$722,038
67$882,656$330,480$224,749$737,369
68$923,465$297,451$183,056$753,449
69$966,885$261,253$138,415$770,366
70$1,013,135$221,682$90,680$788,220
71$1,062,452$178,523$39,695$807,123
72$1,115,099$131,547$0$827,200
73$1,171,360$80,513$0$852,203
74$1,231,549$25,169$0$889,309
75$1,296,009$0$0$928,984
76$1,365,119$0$0$975,676
77$1,439,290$0$0$1,029,081
78$1,518,977$0$0$1,086,480
79$1,604,677$0$0$1,148,235
80$1,696,939$0$0$1,214,744
81$1,796,361$0$0$1,286,442
82$1,903,604$0$0$1,363,809
83$2,019,392$0$0$1,447,372
84$2,144,521$0$0$1,537,708
85$2,279,867$0$0$1,635,453
86$2,426,392$0$0$1,741,307
87$2,585,152$0$0$1,856,037
88$2,757,311$0$0$1,980,490
89$2,944,146$0$0$2,115,593
90$3,147,065$0$0$2,262,369
91$3,367,615$0$0$2,421,942
92$3,607,496$0$0$2,595,550
93$3,868,581$0$0$2,784,552
94$4,152,930$0$0$2,990,447
95$4,462,809$0$0$3,214,882
96$4,800,715$0$0$3,459,670
97$5,169,391$0$0$3,726,809
98$5,571,862$0$0$4,018,494
99$6,011,453$0$0$4,337,145
100$6,491,827$0$0$4,685,425