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%14.9%
1 years$42,446$42,068$41,699$41,339$40,987$40,160
2 years$21,013$20,621$20,242$19,874$19,518$18,688
3 years$13,869$13,476$13,098$12,734$12,383$11,576
4 years$10,298$9,906$9,532$9,174$8,832$8,054
5 years$8,156$7,767$7,397$7,046$6,714$5,968
6 years$6,729$6,342$5,978$5,635$5,312$4,599
7 years$5,709$5,326$4,968$4,633$4,320$3,640
8 years$4,945$4,566$4,213$3,886$3,584$2,936
9 years$4,351$3,975$3,629$3,310$3,018$2,403
10 years$3,876$3,504$3,164$2,854$2,572$1,988
11 years$3,488$3,119$2,785$2,483$2,212$1,658
12 years$3,165$2,800$2,472$2,178$1,917$1,393
13 years$2,891$2,530$2,208$1,923$1,671$1,177
14 years$2,657$2,300$1,984$1,707$1,465$999
15 years$2,454$2,101$1,791$1,522$1,290$851
16 years$2,277$1,928$1,624$1,363$1,140$727
17 years$2,121$1,775$1,478$1,225$1,011$623
18 years$1,982$1,640$1,349$1,104$899$535
19 years$1,858$1,520$1,235$997$801$460
20 years$1,747$1,413$1,134$903$716$397
21 years$1,646$1,316$1,043$820$640$342
22 years$1,555$1,228$961$745$574$296
23 years$1,472$1,149$887$679$515$256
24 years$1,395$1,076$821$619$463$221
25 years$1,325$1,010$760$565$417$192
26 years$1,261$949$705$517$375$166
27 years$1,201$893$655$473$338$144
28 years$1,146$842$608$434$305$125
29 years$1,094$794$566$398$276$109
30 years$1,046$750$527$365$249$94
31 years$1,002$709$492$335$225$82
32 years$960$671$459$308$204$71
33 years$920$635$428$283$184$62
34 years$884$602$400$261$167$54
35 years$849$571$374$240$151$47
36 years$816$542$350$221$137$41
37 years$786$515$328$204$124$35
38 years$756$489$307$188$113$31
39 years$729$465$287$173$102$27
40 years$703$443$269$160$93$23
41 years$678$421$253$147$84$20
42 years$654$401$237$136$76$18
43 years$632$382$222$125$69$15
44 years$611$364$209$116$63$13
45 years$590$348$196$107$57$12
46 years$571$332$184$99$52$10
47 years$553$316$173$91$47$9
48 years$535$302$163$84$43$8
49 years$518$288$153$78$39$7
50 years$502$276$144$72$35$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $514,000, adding $3,185 every year, while hoping to spend $39,302 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: 61/24/15 Blend
55$514,000$514,000$514,000$514,000
56$569,713$542,471$534,504$602,147
57$586,007$527,235$510,593$609,121
58$602,646$509,936$484,564$612,019
59$619,622$490,430$456,304$614,247
60$636,929$468,566$425,695$615,742
61$654,556$444,186$392,616$616,439
62$672,489$417,119$356,937$616,267
63$690,714$387,189$318,525$615,149
64$709,210$354,205$277,239$613,004
65$727,957$317,968$232,934$609,743
66$746,927$278,267$185,456$605,274
67$766,091$234,880$134,647$599,494
68$785,414$187,570$80,339$592,295
69$804,855$136,090$22,359$583,561
70$824,368$80,176$0$573,166
71$843,899$19,550$0$567,301
72$863,390$0$0$563,725
73$882,771$0$0$570,902
74$901,965$0$0$583,096
75$920,885$0$0$595,083
76$939,433$0$0$606,797
77$957,499$0$0$618,163
78$974,957$0$0$629,096
79$991,671$0$0$639,503
80$1,007,482$0$0$649,277
81$1,022,219$0$0$658,302
82$1,035,685$0$0$666,446
83$1,047,666$0$0$673,562
84$1,057,917$0$0$679,486
85$1,066,172$0$0$684,038
86$1,072,129$0$0$687,013
87$1,075,456$0$0$688,188
88$1,075,782$0$0$687,313
89$1,072,696$0$0$684,109
90$1,065,742$0$0$678,270
91$1,054,413$0$0$669,453
92$1,038,147$0$0$657,279
93$1,016,322$0$0$641,329
94$988,248$0$0$621,139
95$953,161$0$0$596,192
96$910,214$0$0$565,919
97$858,471$0$0$529,689
98$796,895$0$0$486,804
99$724,342$0$0$436,492
100$639,542$0$0$377,900