Can I retire at age 56 with 509,000?

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 $509,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$42,033$41,658$41,293$40,937$40,588$39,495
2 years$20,808$20,421$20,045$19,681$19,328$18,234
3 years$13,734$13,345$12,971$12,610$12,262$11,203
4 years$10,198$9,810$9,439$9,085$8,746$7,728
5 years$8,077$7,691$7,325$6,978$6,648$5,675
6 years$6,663$6,280$5,920$5,580$5,261$4,333
7 years$5,654$5,274$4,919$4,588$4,278$3,397
8 years$4,897$4,521$4,172$3,849$3,549$2,713
9 years$4,309$3,936$3,593$3,278$2,989$2,197
10 years$3,839$3,470$3,133$2,826$2,547$1,799
11 years$3,454$3,089$2,758$2,459$2,190$1,485
12 years$3,134$2,772$2,448$2,157$1,898$1,233
13 years$2,863$2,505$2,187$1,904$1,655$1,030
14 years$2,631$2,277$1,965$1,691$1,451$864
15 years$2,431$2,080$1,774$1,508$1,277$728
16 years$2,255$1,909$1,608$1,350$1,129$614
17 years$2,100$1,758$1,464$1,213$1,001$520
18 years$1,963$1,624$1,336$1,093$890$441
19 years$1,840$1,505$1,223$988$793$375
20 years$1,730$1,399$1,123$895$709$319
21 years$1,630$1,303$1,033$812$634$271
22 years$1,540$1,216$952$738$568$231
23 years$1,457$1,138$879$672$510$197
24 years$1,382$1,066$813$613$459$169
25 years$1,312$1,000$753$560$413$144
26 years$1,248$940$698$512$372$123
27 years$1,189$885$648$469$335$105
28 years$1,134$834$603$429$302$90
29 years$1,084$787$561$394$273$77
30 years$1,036$743$522$361$247$66
31 years$992$702$487$332$223$57
32 years$950$664$454$305$202$48
33 years$912$629$424$280$183$42
34 years$875$596$396$258$165$36
35 years$841$566$371$238$150$30
36 years$808$537$347$219$136$26
37 years$778$510$324$202$123$22
38 years$749$485$304$186$111$19
39 years$722$461$285$171$101$16
40 years$696$438$267$158$92$14
41 years$671$417$250$146$83$12
42 years$648$397$235$135$75$10
43 years$626$379$220$124$69$9
44 years$605$361$207$115$62$8
45 years$585$344$194$106$56$7
46 years$565$328$182$98$51$6
47 years$547$313$171$90$47$5
48 years$530$299$161$84$42$4
49 years$513$286$151$77$38$4
50 years$497$273$142$71$35$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $509,000, adding $6,920 every year, while hoping to spend $30,720 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: 44/35/21 Blend
55$509,000$509,000$509,000$509,000
56$568,056$541,079$533,189$589,324
57$593,312$534,906$518,365$598,837
58$620,114$527,401$502,015$605,600
59$648,588$518,466$484,055$612,301
60$678,871$507,998$464,398$618,951
61$711,113$495,887$442,953$625,561
62$745,478$482,017$419,623$632,149
63$782,146$466,265$394,309$638,734
64$821,314$448,501$366,908$645,342
65$863,198$428,587$337,309$652,004
66$908,034$406,378$305,399$658,756
67$956,083$381,719$271,059$665,641
68$1,007,628$354,449$234,164$672,712
69$1,062,983$324,393$194,586$680,027
70$1,122,490$291,372$152,187$687,659
71$1,186,527$255,191$106,828$695,687
72$1,255,505$215,648$58,359$704,205
73$1,329,880$172,528$6,627$713,322
74$1,410,149$125,604$0$723,161
75$1,496,862$74,636$0$744,749
76$1,590,621$19,372$0$769,654
77$1,692,086$0$0$796,612
78$1,801,987$0$0$841,453
79$1,921,123$0$0$898,203
80$2,050,373$0$0$959,824
81$2,190,706$0$0$1,026,787
82$2,343,185$0$0$1,099,604
83$2,508,982$0$0$1,178,844
84$2,689,384$0$0$1,265,130
85$2,885,808$0$0$1,359,146
86$3,099,814$0$0$1,461,650
87$3,333,117$0$0$1,573,470
88$3,587,607$0$0$1,695,522
89$3,865,362$0$0$1,828,813
90$4,168,670$0$0$1,974,450
91$4,500,051$0$0$2,133,654
92$4,862,277$0$0$2,307,768
93$5,258,401$0$0$2,498,270
94$5,691,785$0$0$2,706,790
95$6,166,131$0$0$2,935,120
96$6,685,515$0$0$3,185,235
97$7,254,424$0$0$3,459,310
98$7,877,802$0$0$3,759,740
99$8,561,093$0$0$4,089,162
100$9,310,292$0$0$4,450,482