Can I retire at age 56 with 514,000?

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 $514,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$42,446$42,068$41,699$41,339$40,987$40,559
2 years$21,013$20,621$20,242$19,874$19,518$19,087
3 years$13,869$13,476$13,098$12,734$12,383$11,962
4 years$10,298$9,906$9,532$9,174$8,832$8,424
5 years$8,156$7,767$7,397$7,046$6,714$6,321
6 years$6,729$6,342$5,978$5,635$5,312$4,935
7 years$5,709$5,326$4,968$4,633$4,320$3,959
8 years$4,945$4,566$4,213$3,886$3,584$3,238
9 years$4,351$3,975$3,629$3,310$3,018$2,687
10 years$3,876$3,504$3,164$2,854$2,572$2,256
11 years$3,488$3,119$2,785$2,483$2,212$1,911
12 years$3,165$2,800$2,472$2,178$1,917$1,630
13 years$2,891$2,530$2,208$1,923$1,671$1,399
14 years$2,657$2,300$1,984$1,707$1,465$1,207
15 years$2,454$2,101$1,791$1,522$1,290$1,045
16 years$2,277$1,928$1,624$1,363$1,140$908
17 years$2,121$1,775$1,478$1,225$1,011$791
18 years$1,982$1,640$1,349$1,104$899$691
19 years$1,858$1,520$1,235$997$801$605
20 years$1,747$1,413$1,134$903$716$531
21 years$1,646$1,316$1,043$820$640$467
22 years$1,555$1,228$961$745$574$411
23 years$1,472$1,149$887$679$515$362
24 years$1,395$1,076$821$619$463$319
25 years$1,325$1,010$760$565$417$282
26 years$1,261$949$705$517$375$249
27 years$1,201$893$655$473$338$220
28 years$1,146$842$608$434$305$195
29 years$1,094$794$566$398$276$172
30 years$1,046$750$527$365$249$153
31 years$1,002$709$492$335$225$135
32 years$960$671$459$308$204$120
33 years$920$635$428$283$184$106
34 years$884$602$400$261$167$94
35 years$849$571$374$240$151$84
36 years$816$542$350$221$137$74
37 years$786$515$328$204$124$66
38 years$756$489$307$188$113$58
39 years$729$465$287$173$102$52
40 years$703$443$269$160$93$46
41 years$678$421$253$147$84$41
42 years$654$401$237$136$76$36
43 years$632$382$222$125$69$32
44 years$611$364$209$116$63$29
45 years$590$348$196$107$57$25
46 years$571$332$184$99$52$23
47 years$553$316$173$91$47$20
48 years$535$302$163$84$43$18
49 years$518$288$153$78$39$16
50 years$502$276$144$72$35$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $514,000, adding $4,339 every year, while hoping to spend $34,985 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: 49/41/10 Blend
55$514,000$514,000$514,000$514,000
56$570,904$543,662$535,695$597,135
57$591,912$533,077$516,417$604,997
58$613,891$520,802$495,320$609,491
59$636,902$506,715$472,308$613,568
60$661,012$490,691$447,277$617,200
61$686,295$472,595$420,120$620,357
62$712,830$452,284$390,727$623,010
63$740,702$429,609$358,979$625,127
64$770,004$404,411$324,755$626,679
65$800,838$376,521$287,929$627,634
66$833,315$345,761$248,365$627,963
67$867,554$311,945$205,927$627,635
68$903,687$274,872$160,467$626,621
69$941,856$234,334$111,836$624,891
70$982,216$190,108$59,874$622,419
71$1,024,939$141,960$4,417$619,178
72$1,070,210$89,642$0$615,144
73$1,118,231$32,894$0$616,140
74$1,169,224$0$0$617,187
75$1,223,432$0$0$630,703
76$1,281,120$0$0$660,911
77$1,342,579$0$0$693,125
78$1,408,126$0$0$727,516
79$1,478,110$0$0$764,271
80$1,552,912$0$0$803,596
81$1,632,951$0$0$845,715
82$1,718,686$0$0$890,875
83$1,810,620$0$0$939,346
84$1,909,305$0$0$991,426
85$2,015,347$0$0$1,047,440
86$2,129,411$0$0$1,107,747
87$2,252,227$0$0$1,172,739
88$2,384,597$0$0$1,242,849
89$2,527,403$0$0$1,318,550
90$2,681,611$0$0$1,400,364
91$2,848,285$0$0$1,488,864
92$3,028,595$0$0$1,584,679
93$3,223,824$0$0$1,688,502
94$3,435,385$0$0$1,801,093
95$3,664,832$0$0$1,923,291
96$3,913,872$0$0$2,056,014
97$4,184,383$0$0$2,200,277
98$4,478,433$0$0$2,357,193
99$4,798,294$0$0$2,527,988
100$5,146,467$0$0$2,714,010