Can I retire at age 56 with 511,000?

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 $511,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$42,198$41,822$41,455$41,097$40,748$40,440
2 years$20,890$20,501$20,124$19,758$19,404$19,094
3 years$13,788$13,398$13,022$12,659$12,311$12,007
4 years$10,238$9,849$9,476$9,120$8,780$8,486
5 years$8,109$7,721$7,354$7,005$6,674$6,391
6 years$6,689$6,305$5,943$5,602$5,281$5,009
7 years$5,676$5,295$4,939$4,606$4,295$4,033
8 years$4,916$4,539$4,188$3,864$3,563$3,312
9 years$4,326$3,952$3,608$3,291$3,001$2,760
10 years$3,854$3,483$3,145$2,837$2,557$2,327
11 years$3,468$3,101$2,769$2,469$2,199$1,979
12 years$3,146$2,783$2,457$2,166$1,906$1,696
13 years$2,874$2,515$2,195$1,912$1,662$1,462
14 years$2,642$2,286$1,973$1,697$1,457$1,267
15 years$2,440$2,089$1,781$1,514$1,282$1,102
16 years$2,264$1,916$1,615$1,355$1,133$963
17 years$2,109$1,765$1,469$1,218$1,005$843
18 years$1,971$1,631$1,341$1,097$894$740
19 years$1,847$1,511$1,228$992$796$651
20 years$1,737$1,404$1,127$898$711$574
21 years$1,637$1,308$1,037$815$637$507
22 years$1,546$1,221$955$741$571$449
23 years$1,463$1,142$882$675$512$397
24 years$1,387$1,070$816$616$460$352
25 years$1,317$1,004$756$562$414$313
26 years$1,253$944$701$514$373$278
27 years$1,194$888$651$470$336$247
28 years$1,139$837$605$431$304$220
29 years$1,088$790$563$395$274$196
30 years$1,040$746$524$363$248$174
31 years$996$705$489$333$224$155
32 years$954$667$456$306$203$138
33 years$915$632$426$282$183$123
34 years$879$599$398$259$166$110
35 years$844$568$372$238$150$98
36 years$812$539$348$220$136$88
37 years$781$512$326$202$123$78
38 years$752$486$305$187$112$70
39 years$725$463$286$172$102$62
40 years$699$440$268$159$92$56
41 years$674$419$251$146$84$50
42 years$651$399$236$135$76$44
43 years$628$380$221$125$69$40
44 years$607$362$208$115$62$36
45 years$587$346$195$106$57$32
46 years$568$330$183$98$51$28
47 years$549$315$172$91$47$25
48 years$532$300$162$84$42$23
49 years$515$287$152$77$39$20
50 years$499$274$143$72$35$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $511,000, adding $4,941 every year, while hoping to spend $36,826 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: 62/11/27 Blend
55$511,000$511,000$511,000$511,000
56$568,219$541,136$533,215$599,066
57$586,994$528,469$511,895$607,923
58$606,451$513,947$488,627$613,144
59$626,619$497,440$463,306$618,052
60$647,531$478,812$435,824$622,624
61$669,221$457,916$406,066$626,834
62$691,727$434,598$373,914$630,657
63$715,087$408,697$339,244$634,066
64$739,342$380,041$301,925$637,033
65$764,539$348,446$261,823$639,532
66$790,723$313,721$218,796$641,532
67$817,947$275,664$172,696$643,003
68$846,265$234,058$123,368$643,916
69$875,735$188,678$70,652$644,239
70$906,420$139,283$14,379$643,941
71$938,387$85,621$0$642,990
72$971,710$27,424$0$654,512
73$1,006,467$0$0$670,592
74$1,042,742$0$0$691,415
75$1,080,625$0$0$716,636
76$1,120,216$0$0$743,003
77$1,161,620$0$0$770,587
78$1,204,952$0$0$799,466
79$1,250,337$0$0$829,725
80$1,297,909$0$0$861,454
81$1,347,815$0$0$894,754
82$1,400,212$0$0$929,731
83$1,455,275$0$0$966,503
84$1,513,189$0$0$1,005,197
85$1,574,159$0$0$1,045,951
86$1,638,407$0$0$1,088,916
87$1,706,174$0$0$1,134,256
88$1,777,724$0$0$1,182,150
89$1,853,343$0$0$1,232,794
90$1,933,346$0$0$1,286,401
91$2,018,075$0$0$1,343,203
92$2,107,903$0$0$1,403,455
93$2,203,239$0$0$1,467,434
94$2,304,530$0$0$1,535,446
95$2,412,264$0$0$1,607,823
96$2,526,976$0$0$1,684,928
97$2,649,252$0$0$1,767,161
98$2,779,732$0$0$1,854,959
99$2,919,119$0$0$1,948,799
100$3,068,183$0$0$2,049,208