Can I retire at age 56 with 517,000?

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 $517,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$42,693$42,313$41,942$41,580$41,226$40,444
2 years$21,135$20,742$20,360$19,990$19,632$18,846
3 years$13,950$13,555$13,174$12,808$12,455$11,691
4 years$10,358$9,964$9,588$9,227$8,883$8,147
5 years$8,204$7,812$7,440$7,088$6,753$6,046
6 years$6,768$6,379$6,013$5,668$5,343$4,667
7 years$5,743$5,357$4,997$4,660$4,345$3,700
8 years$4,974$4,592$4,238$3,909$3,605$2,990
9 years$4,377$3,998$3,650$3,330$3,036$2,451
10 years$3,899$3,524$3,182$2,870$2,587$2,031
11 years$3,508$3,137$2,801$2,498$2,225$1,698
12 years$3,183$2,816$2,486$2,191$1,928$1,429
13 years$2,908$2,545$2,221$1,934$1,681$1,210
14 years$2,673$2,313$1,996$1,717$1,474$1,029
15 years$2,469$2,113$1,802$1,531$1,298$878
16 years$2,291$1,939$1,634$1,371$1,147$752
17 years$2,133$1,786$1,487$1,232$1,017$646
18 years$1,994$1,650$1,357$1,110$904$556
19 years$1,869$1,529$1,242$1,003$806$479
20 years$1,757$1,421$1,140$909$720$414
21 years$1,656$1,324$1,049$825$644$358
22 years$1,564$1,235$967$750$577$310
23 years$1,480$1,156$892$683$518$269
24 years$1,403$1,083$825$623$466$233
25 years$1,333$1,016$764$569$419$202
26 years$1,268$955$709$520$378$176
27 years$1,208$899$658$476$340$153
28 years$1,152$847$612$436$307$133
29 years$1,101$799$570$400$277$116
30 years$1,052$754$531$367$251$101
31 years$1,007$713$495$337$227$88
32 years$965$675$461$310$205$76
33 years$926$639$431$285$185$67
34 years$889$606$403$262$168$58
35 years$854$574$376$241$152$51
36 years$821$545$352$222$138$44
37 years$790$518$330$205$125$38
38 years$761$492$309$189$113$33
39 years$733$468$289$174$103$29
40 years$707$445$271$161$93$25
41 years$682$424$254$148$85$22
42 years$658$404$238$137$77$19
43 years$636$385$224$126$70$17
44 years$614$367$210$116$63$15
45 years$594$350$197$108$57$13
46 years$574$334$185$99$52$11
47 years$556$318$174$92$47$10
48 years$538$304$163$85$43$9
49 years$521$290$154$78$39$7
50 years$505$277$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 $517,000, adding $2,929 every year, while hoping to spend $41,953 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: 54/23/23 Blend
55$517,000$517,000$517,000$517,000
56$572,755$545,354$537,341$599,918
57$586,539$527,439$510,704$600,995
58$600,322$507,240$481,769$597,550
59$614,061$484,600$450,414$592,917
60$627,704$459,356$416,513$586,998
61$641,197$431,331$379,932$579,685
62$654,474$400,341$340,535$570,861
63$667,463$366,190$298,176$560,404
64$680,083$328,673$252,704$548,179
65$692,244$287,570$203,962$534,042
66$703,843$242,651$151,784$517,837
67$714,767$193,672$96,001$499,398
68$724,887$140,376$36,431$478,543
69$734,061$82,491$0$455,079
70$742,132$19,729$0$435,455
71$748,921$0$0$422,759
72$754,232$0$0$420,047
73$757,846$0$0$421,291
74$759,519$0$0$421,352
75$758,981$0$0$420,067
76$755,930$0$0$417,256
77$750,033$0$0$412,721
78$740,920$0$0$406,239
79$728,181$0$0$397,566
80$711,361$0$0$386,431
81$689,955$0$0$372,531
82$663,407$0$0$355,534
83$631,097$0$0$335,070
84$592,342$0$0$310,733
85$546,386$0$0$282,070
86$492,391$0$0$248,582
87$429,433$0$0$209,717
88$356,488$0$0$164,865
89$272,424$0$0$113,352
90$175,993$0$0$54,431
91$65,813$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0