Can I retire at age 56 with 520,000?

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 $520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$42,941$42,559$42,185$41,821$41,466$40,897
2 years$21,258$20,862$20,478$20,106$19,745$19,173
3 years$14,031$13,634$13,251$12,882$12,527$11,970
4 years$10,419$10,022$9,643$9,281$8,935$8,396
5 years$8,251$7,857$7,484$7,129$6,792$6,273
6 years$6,807$6,416$6,048$5,701$5,374$4,877
7 years$5,776$5,388$5,026$4,687$4,371$3,894
8 years$5,003$4,619$4,262$3,932$3,626$3,171
9 years$4,402$4,021$3,671$3,349$3,054$2,619
10 years$3,922$3,545$3,201$2,887$2,602$2,188
11 years$3,529$3,156$2,818$2,512$2,238$1,844
12 years$3,202$2,832$2,501$2,204$1,939$1,565
13 years$2,925$2,560$2,234$1,946$1,691$1,336
14 years$2,688$2,327$2,007$1,727$1,482$1,147
15 years$2,483$2,125$1,812$1,540$1,305$988
16 years$2,304$1,950$1,643$1,379$1,153$853
17 years$2,146$1,796$1,495$1,239$1,023$740
18 years$2,005$1,660$1,365$1,117$909$643
19 years$1,880$1,538$1,250$1,009$811$559
20 years$1,767$1,429$1,147$914$724$488
21 years$1,665$1,331$1,055$829$648$426
22 years$1,573$1,243$972$754$581$373
23 years$1,489$1,162$898$687$521$326
24 years$1,412$1,089$830$626$469$286
25 years$1,341$1,022$769$572$422$251
26 years$1,275$960$713$523$380$220
27 years$1,215$904$662$479$342$193
28 years$1,159$852$616$439$309$170
29 years$1,107$804$573$402$279$150
30 years$1,058$759$534$369$252$132
31 years$1,013$717$497$339$228$116
32 years$971$679$464$312$206$102
33 years$931$643$433$287$187$90
34 years$894$609$405$264$169$79
35 years$859$578$379$243$153$70
36 years$826$548$354$224$139$61
37 years$795$521$331$206$126$54
38 years$765$495$310$190$114$48
39 years$737$471$291$175$103$42
40 years$711$448$273$161$94$37
41 years$686$426$256$149$85$33
42 years$662$406$240$137$77$29
43 years$639$387$225$127$70$25
44 years$618$369$211$117$64$22
45 years$597$352$198$108$58$20
46 years$578$335$186$100$52$17
47 years$559$320$175$92$48$15
48 years$541$306$164$85$43$14
49 years$524$292$155$79$39$12
50 years$508$279$145$73$36$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $520,000, adding $5,110 every year, while hoping to spend $34,003 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: 40/34/26 Blend
55$520,000$520,000$520,000$520,000
56$578,311$550,751$542,691$596,828
57$601,120$541,559$524,692$601,510
58$625,115$530,777$504,951$603,012
59$650,383$518,291$483,373$603,977
60$677,015$503,980$459,859$604,374
61$705,114$487,718$434,307$604,176
62$734,788$469,368$406,608$603,355
63$766,158$448,789$376,651$601,881
64$799,355$425,829$344,318$599,728
65$834,522$400,327$309,486$596,868
66$871,815$372,116$272,026$593,276
67$911,406$341,015$231,805$588,927
68$953,481$306,837$188,682$583,799
69$998,245$269,380$142,511$577,871
70$1,045,922$228,435$93,141$571,127
71$1,096,756$183,778$40,411$563,551
72$1,151,015$135,174$0$555,133
73$1,208,994$82,373$0$550,268
74$1,271,016$25,114$0$556,806
75$1,337,432$0$0$563,580
76$1,408,632$0$0$584,455
77$1,485,040$0$0$616,986
78$1,567,122$0$0$651,983
79$1,655,390$0$0$689,670
80$1,750,407$0$0$730,292
81$1,852,791$0$0$774,122
82$1,963,218$0$0$821,457
83$2,082,434$0$0$872,624
84$2,211,258$0$0$927,982
85$2,350,589$0$0$987,927
86$2,501,416$0$0$1,052,893
87$2,664,826$0$0$1,123,358
88$2,842,014$0$0$1,199,846
89$3,034,295$0$0$1,282,937
90$3,243,114$0$0$1,373,265
91$3,470,061$0$0$1,471,529
92$3,716,885$0$0$1,578,500
93$3,985,511$0$0$1,695,024
94$4,278,056$0$0$1,822,031
95$4,596,850$0$0$1,960,548
96$4,944,458$0$0$2,111,703
97$5,323,702$0$0$2,276,737
98$5,737,689$0$0$2,457,019
99$6,189,838$0$0$2,654,054
100$6,683,913$0$0$2,869,498