Can I retire at age 56 with 519,000?

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 $519,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$42,859$42,477$42,104$41,741$41,386$41,194
2 years$21,217$20,822$20,439$20,068$19,708$19,514
3 years$14,004$13,607$13,225$12,858$12,503$12,314
4 years$10,398$10,003$9,625$9,263$8,917$8,734
5 years$8,236$7,842$7,469$7,115$6,779$6,601
6 years$6,794$6,404$6,036$5,690$5,364$5,193
7 years$5,765$5,378$5,016$4,678$4,362$4,198
8 years$4,993$4,610$4,254$3,924$3,619$3,461
9 years$4,394$4,014$3,664$3,343$3,048$2,896
10 years$3,914$3,538$3,194$2,881$2,597$2,452
11 years$3,522$3,150$2,812$2,508$2,233$2,094
12 years$3,196$2,827$2,496$2,200$1,935$1,803
13 years$2,919$2,555$2,230$1,942$1,688$1,561
14 years$2,683$2,322$2,004$1,724$1,479$1,359
15 years$2,478$2,121$1,809$1,537$1,303$1,188
16 years$2,299$1,946$1,640$1,376$1,151$1,042
17 years$2,142$1,792$1,492$1,237$1,021$917
18 years$2,002$1,656$1,362$1,115$908$809
19 years$1,876$1,535$1,247$1,007$809$716
20 years$1,764$1,426$1,145$912$723$634
21 years$1,662$1,329$1,053$828$647$563
22 years$1,570$1,240$970$753$580$501
23 years$1,486$1,160$896$685$520$446
24 years$1,409$1,087$829$625$468$397
25 years$1,338$1,020$767$571$421$355
26 years$1,273$959$712$522$379$317
27 years$1,213$902$661$478$342$283
28 years$1,157$850$614$438$308$253
29 years$1,105$802$572$401$278$227
30 years$1,056$757$533$368$252$203
31 years$1,011$716$497$338$227$182
32 years$969$677$463$311$206$163
33 years$929$642$433$286$186$146
34 years$892$608$404$263$169$131
35 years$857$577$378$242$153$118
36 years$824$547$353$223$138$106
37 years$793$520$331$206$125$95
38 years$764$494$310$189$114$85
39 years$736$470$290$175$103$77
40 years$710$447$272$161$94$69
41 years$685$426$255$149$85$62
42 years$661$405$239$137$77$56
43 years$638$386$225$127$70$50
44 years$617$368$211$117$63$45
45 years$596$351$198$108$58$40
46 years$577$335$186$100$52$36
47 years$558$320$175$92$47$33
48 years$540$305$164$85$43$29
49 years$523$291$154$79$39$26
50 years$507$278$145$73$36$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $519,000, adding $2,446 every year, while hoping to spend $30,381 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: 71/8/21 Blend
55$519,000$519,000$519,000$519,000
56$574,461$546,954$538,910$612,122
57$600,731$541,430$524,638$632,021
58$628,662$534,616$508,870$649,965
59$658,392$526,419$491,523$668,861
60$690,071$516,736$472,512$688,799
61$723,863$505,462$451,747$709,879
62$759,950$492,482$429,133$732,213
63$798,529$477,677$404,572$755,924
64$839,816$460,920$377,963$781,149
65$884,049$442,077$349,196$808,038
66$931,489$421,006$318,161$836,761
67$982,421$397,556$284,741$867,503
68$1,037,161$371,569$248,812$900,469
69$1,096,051$342,876$210,247$935,888
70$1,159,471$311,300$168,913$974,011
71$1,227,836$276,652$124,671$1,015,119
72$1,301,603$238,736$77,374$1,059,519
73$1,381,272$197,339$26,872$1,107,554
74$1,467,395$152,242$0$1,159,603
75$1,560,577$103,210$0$1,222,137
76$1,661,485$49,996$0$1,296,386
77$1,770,849$0$0$1,376,871
78$1,889,475$0$0$1,464,873
79$2,018,248$0$0$1,565,203
80$2,158,142$0$0$1,674,220
81$2,310,226$0$0$1,792,762
82$2,475,680$0$0$1,921,750
83$2,655,799$0$0$2,062,197
84$2,852,009$0$0$2,215,220
85$3,065,881$0$0$2,382,046
86$3,299,141$0$0$2,564,025
87$3,553,690$0$0$2,762,645
88$3,831,622$0$0$2,979,542
89$4,135,239$0$0$3,216,519
90$4,467,079$0$0$3,475,559
91$4,829,932$0$0$3,758,847
92$5,226,874$0$0$4,068,786
93$5,661,289$0$0$4,408,025
94$6,136,904$0$0$4,779,479
95$6,657,824$0$0$5,186,359
96$7,228,569$0$0$5,632,202
97$7,854,117$0$0$6,120,900
98$8,539,951$0$0$6,656,744
99$9,292,107$0$0$7,244,456
100$10,117,238$0$0$7,889,240