Can I retire at age 56 with 520,000?

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 $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%16.7%
1 years$42,941$42,559$42,185$41,821$41,466$40,332
2 years$21,258$20,862$20,478$20,106$19,745$18,612
3 years$14,031$13,634$13,251$12,882$12,527$11,429
4 years$10,419$10,022$9,643$9,281$8,935$7,880
5 years$8,251$7,857$7,484$7,129$6,792$5,784
6 years$6,807$6,416$6,048$5,701$5,374$4,414
7 years$5,776$5,388$5,026$4,687$4,371$3,458
8 years$5,003$4,619$4,262$3,932$3,626$2,760
9 years$4,402$4,021$3,671$3,349$3,054$2,234
10 years$3,922$3,545$3,201$2,887$2,602$1,828
11 years$3,529$3,156$2,818$2,512$2,238$1,508
12 years$3,202$2,832$2,501$2,204$1,939$1,252
13 years$2,925$2,560$2,234$1,946$1,691$1,045
14 years$2,688$2,327$2,007$1,727$1,482$876
15 years$2,483$2,125$1,812$1,540$1,305$737
16 years$2,304$1,950$1,643$1,379$1,153$622
17 years$2,146$1,796$1,495$1,239$1,023$526
18 years$2,005$1,660$1,365$1,117$909$446
19 years$1,880$1,538$1,250$1,009$811$378
20 years$1,767$1,429$1,147$914$724$322
21 years$1,665$1,331$1,055$829$648$274
22 years$1,573$1,243$972$754$581$233
23 years$1,489$1,162$898$687$521$199
24 years$1,412$1,089$830$626$469$170
25 years$1,341$1,022$769$572$422$145
26 years$1,275$960$713$523$380$124
27 years$1,215$904$662$479$342$106
28 years$1,159$852$616$439$309$90
29 years$1,107$804$573$402$279$77
30 years$1,058$759$534$369$252$66
31 years$1,013$717$497$339$228$57
32 years$971$679$464$312$206$48
33 years$931$643$433$287$187$41
34 years$894$609$405$264$169$36
35 years$859$578$379$243$153$30
36 years$826$548$354$224$139$26
37 years$795$521$331$206$126$22
38 years$765$495$310$190$114$19
39 years$737$471$291$175$103$16
40 years$711$448$273$161$94$14
41 years$686$426$256$149$85$12
42 years$662$406$240$137$77$10
43 years$639$387$225$127$70$9
44 years$618$369$211$117$64$8
45 years$597$352$198$108$58$6
46 years$578$335$186$100$52$6
47 years$559$320$175$92$48$5
48 years$541$306$164$85$43$4
49 years$524$292$155$79$39$3
50 years$508$279$145$73$36$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $520,000, adding $3,032 every year, while hoping to spend $30,250 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: 64/27/9 Blend
55$520,000$520,000$520,000$520,000
56$576,168$548,608$540,548$611,766
57$602,751$543,304$526,470$630,582
58$631,032$536,726$510,907$647,300
59$661,152$528,780$493,777$664,784
60$693,265$519,366$474,995$683,107
61$727,541$508,378$454,470$702,351
62$764,166$495,704$432,110$722,606
63$803,342$481,225$407,817$743,972
64$845,293$464,815$381,490$766,562
65$890,264$446,342$353,020$790,502
66$938,522$425,664$322,297$815,929
67$990,362$402,632$289,205$842,999
68$1,046,108$377,090$253,622$871,883
69$1,106,113$348,870$215,421$902,774
70$1,170,768$317,796$174,469$935,884
71$1,240,500$283,682$130,628$971,448
72$1,315,780$246,331$83,753$1,009,730
73$1,397,124$205,536$33,693$1,051,022
74$1,485,100$161,076$0$1,095,646
75$1,580,332$112,721$0$1,145,856
76$1,683,506$60,224$0$1,203,734
77$1,795,376$3,327$0$1,266,497
78$1,916,771$0$0$1,334,655
79$2,048,604$0$0$1,426,072
80$2,191,878$0$0$1,526,530
81$2,347,697$0$0$1,635,816
82$2,517,276$0$0$1,754,787
83$2,701,950$0$0$1,884,385
84$2,903,190$0$0$2,025,646
85$3,122,614$0$0$2,179,712
86$3,362,003$0$0$2,347,836
87$3,623,318$0$0$2,531,402
88$3,908,716$0$0$2,731,930
89$4,220,573$0$0$2,951,095
90$4,561,504$0$0$3,190,741
91$4,934,389$0$0$3,452,897
92$5,342,398$0$0$3,739,800
93$5,789,022$0$0$4,053,911
94$6,278,106$0$0$4,397,939
95$6,813,881$0$0$4,774,869
96$7,401,012$0$0$5,187,989
97$8,044,631$0$0$5,640,919
98$8,750,393$0$0$6,137,647
99$9,524,528$0$0$6,682,563
100$10,373,895$0$0$7,280,505