Can I retire at age 56 with 523,000?

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 $523,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$43,189$42,804$42,429$42,062$41,705$40,614
2 years$21,381$20,982$20,597$20,222$19,859$18,768
3 years$14,112$13,712$13,327$12,957$12,600$11,542
4 years$10,479$10,080$9,699$9,335$8,986$7,970
5 years$8,299$7,903$7,527$7,170$6,831$5,859
6 years$6,847$6,453$6,083$5,734$5,405$4,479
7 years$5,809$5,419$5,055$4,714$4,396$3,515
8 years$5,032$4,645$4,287$3,954$3,647$2,810
9 years$4,428$4,045$3,692$3,368$3,071$2,279
10 years$3,944$3,565$3,219$2,904$2,617$1,868
11 years$3,549$3,174$2,834$2,527$2,251$1,544
12 years$3,220$2,849$2,515$2,216$1,950$1,284
13 years$2,942$2,574$2,247$1,957$1,701$1,074
14 years$2,704$2,340$2,019$1,737$1,491$902
15 years$2,497$2,138$1,823$1,549$1,313$761
16 years$2,317$1,961$1,653$1,387$1,160$643
17 years$2,158$1,806$1,504$1,246$1,029$545
18 years$2,017$1,669$1,373$1,123$915$463
19 years$1,891$1,547$1,257$1,015$815$394
20 years$1,778$1,437$1,153$919$728$336
21 years$1,675$1,339$1,061$834$652$286
22 years$1,582$1,250$978$758$584$244
23 years$1,497$1,169$903$691$524$209
24 years$1,420$1,095$835$630$471$179
25 years$1,348$1,028$773$575$424$153
26 years$1,283$966$717$526$382$131
27 years$1,222$909$666$482$344$112
28 years$1,166$857$619$441$311$96
29 years$1,113$808$576$405$281$82
30 years$1,065$763$537$371$254$71
31 years$1,019$721$500$341$229$61
32 years$977$683$467$313$207$52
33 years$937$646$436$288$188$45
34 years$899$613$407$265$170$38
35 years$864$581$381$244$154$33
36 years$831$552$356$225$139$28
37 years$799$524$333$207$126$24
38 years$770$498$312$191$115$21
39 years$742$473$292$176$104$18
40 years$715$450$274$162$94$15
41 years$690$429$257$150$85$13
42 years$666$408$241$138$78$11
43 years$643$389$226$128$70$10
44 years$621$371$212$118$64$8
45 years$601$354$199$109$58$7
46 years$581$337$187$101$53$6
47 years$562$322$176$93$48$5
48 years$544$307$165$86$43$5
49 years$527$294$155$79$39$4
50 years$511$280$146$73$36$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $523,000, adding $3,023 every year, while hoping to spend $37,941 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: 58/12/30 Blend
55$523,000$523,000$523,000$523,000
56$579,464$551,745$543,639$608,145
57$598,201$538,412$521,482$614,838
58$617,577$523,153$497,311$617,903
59$637,617$505,836$471,018$620,479
60$658,349$486,316$442,492$622,529
61$679,800$464,445$411,615$624,018
62$701,999$440,063$378,264$624,905
63$724,977$413,000$342,310$625,150
64$748,768$383,080$303,621$624,708
65$773,405$350,114$262,055$623,537
66$798,926$313,903$217,467$621,589
67$825,369$274,237$169,704$618,814
68$852,774$230,892$118,608$615,162
69$881,187$183,636$64,011$610,580
70$910,653$132,219$5,740$605,013
71$941,221$76,379$0$598,402
72$972,944$15,840$0$608,757
73$1,005,878$0$0$621,083
74$1,040,083$0$0$640,100
75$1,075,622$0$0$662,037
76$1,112,563$0$0$684,847
77$1,150,981$0$0$708,575
78$1,190,952$0$0$733,270
79$1,232,562$0$0$758,985
80$1,275,900$0$0$785,777
81$1,321,063$0$0$813,707
82$1,368,156$0$0$842,841
83$1,417,292$0$0$873,250
84$1,468,591$0$0$905,011
85$1,522,185$0$0$938,206
86$1,578,215$0$0$972,925
87$1,636,834$0$0$1,009,264
88$1,698,209$0$0$1,047,329
89$1,762,517$0$0$1,087,232
90$1,829,955$0$0$1,129,097
91$1,900,732$0$0$1,173,058
92$1,975,078$0$0$1,219,261
93$2,053,243$0$0$1,267,862
94$2,135,497$0$0$1,319,034
95$2,222,134$0$0$1,372,963
96$2,313,477$0$0$1,429,854
97$2,409,873$0$0$1,489,929
98$2,511,706$0$0$1,553,430
99$2,619,390$0$0$1,620,621
100$2,733,380$0$0$1,691,791