Can I retire at age 56 with 515,000?

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 $515,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$42,528$42,149$41,780$41,419$41,067$40,337
2 years$21,054$20,661$20,281$19,913$19,556$18,823
3 years$13,896$13,502$13,123$12,758$12,407$11,694
4 years$10,318$9,926$9,551$9,192$8,849$8,161
5 years$8,172$7,782$7,412$7,060$6,727$6,066
6 years$6,742$6,355$5,990$5,646$5,323$4,690
7 years$5,721$5,337$4,977$4,642$4,329$3,724
8 years$4,955$4,574$4,221$3,894$3,591$3,015
9 years$4,360$3,983$3,636$3,317$3,024$2,476
10 years$3,884$3,511$3,170$2,859$2,577$2,056
11 years$3,495$3,125$2,791$2,488$2,216$1,722
12 years$3,171$2,805$2,477$2,183$1,920$1,452
13 years$2,897$2,535$2,213$1,927$1,675$1,232
14 years$2,662$2,304$1,988$1,710$1,468$1,050
15 years$2,459$2,105$1,795$1,525$1,293$898
16 years$2,282$1,931$1,627$1,366$1,142$770
17 years$2,125$1,779$1,481$1,227$1,013$663
18 years$1,986$1,644$1,352$1,106$901$572
19 years$1,862$1,523$1,238$999$803$494
20 years$1,750$1,415$1,136$905$717$428
21 years$1,649$1,318$1,045$821$642$371
22 years$1,558$1,231$963$747$575$322
23 years$1,474$1,151$889$680$516$280
24 years$1,398$1,078$822$620$464$243
25 years$1,328$1,012$762$567$418$212
26 years$1,263$951$706$518$376$184
27 years$1,203$895$656$474$339$161
28 years$1,148$844$610$434$306$140
29 years$1,096$796$567$398$276$122
30 years$1,048$752$528$366$250$107
31 years$1,004$710$493$336$226$93
32 years$962$672$460$309$204$81
33 years$922$637$429$284$185$71
34 years$885$603$401$261$167$62
35 years$851$572$375$240$152$54
36 years$818$543$351$221$137$47
37 years$787$516$328$204$124$41
38 years$758$490$307$188$113$36
39 years$730$466$288$173$102$32
40 years$704$444$270$160$93$28
41 years$679$422$253$148$84$24
42 years$656$402$237$136$76$21
43 years$633$383$223$126$69$18
44 years$612$365$209$116$63$16
45 years$592$348$196$107$57$14
46 years$572$332$184$99$52$12
47 years$554$317$173$91$47$11
48 years$536$303$163$85$43$9
49 years$519$289$153$78$39$8
50 years$503$276$144$72$35$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $515,000, adding $6,025 every year, while hoping to spend $32,921 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: 82/13/5 Blend
55$515,000$515,000$515,000$515,000
56$573,745$546,450$538,467$620,234
57$597,239$538,198$521,478$643,242
58$622,026$528,439$502,817$663,447
59$648,204$517,063$482,392$684,599
60$675,878$503,956$460,109$706,775
61$705,163$488,996$435,868$730,057
62$736,186$472,053$409,567$754,536
63$769,086$452,992$381,096$780,313
64$804,012$431,668$350,341$807,498
65$841,129$407,928$317,186$836,214
66$880,619$381,611$281,506$866,595
67$922,677$352,546$243,172$898,790
68$967,522$320,551$202,050$932,963
69$1,015,388$285,438$157,998$969,294
70$1,066,536$247,002$110,869$1,007,983
71$1,121,249$205,032$60,510$1,049,250
72$1,179,840$159,303$6,761$1,093,338
73$1,242,651$109,575$0$1,140,515
74$1,310,056$55,599$0$1,193,775
75$1,382,466$0$0$1,251,307
76$1,460,335$0$0$1,313,532
77$1,544,156$0$0$1,389,085
78$1,634,477$0$0$1,470,505
79$1,731,893$0$0$1,558,330
80$1,837,063$0$0$1,653,155
81$1,950,708$0$0$1,755,633
82$2,073,623$0$0$1,866,480
83$2,206,679$0$0$1,986,484
84$2,350,836$0$0$2,116,511
85$2,507,147$0$0$2,257,515
86$2,676,773$0$0$2,410,542
87$2,860,989$0$0$2,576,746
88$3,061,196$0$0$2,757,392
89$3,278,939$0$0$2,953,875
90$3,515,916$0$0$3,167,729
91$3,773,993$0$0$3,400,642
92$4,055,227$0$0$3,654,471
93$4,361,880$0$0$3,931,260
94$4,696,441$0$0$4,233,259
95$5,061,652$0$0$4,562,943
96$5,460,529$0$0$4,923,038
97$5,896,392$0$0$5,316,546
98$6,372,899$0$0$5,746,769
99$6,894,075$0$0$6,217,345
100$7,464,351$0$0$6,732,278