Can I retire at age 56 with 524,000?

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 $524,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$43,271$42,886$42,510$42,143$41,784$40,463
2 years$21,422$21,023$20,636$20,261$19,897$18,578
3 years$14,139$13,738$13,353$12,981$12,624$11,348
4 years$10,499$10,099$9,717$9,352$9,003$7,781
5 years$8,315$7,918$7,541$7,184$6,844$5,678
6 years$6,860$6,466$6,094$5,745$5,416$4,307
7 years$5,821$5,430$5,064$4,723$4,404$3,353
8 years$5,042$4,654$4,295$3,962$3,654$2,660
9 years$4,436$4,052$3,699$3,375$3,077$2,138
10 years$3,952$3,572$3,225$2,909$2,622$1,737
11 years$3,556$3,180$2,839$2,532$2,255$1,423
12 years$3,226$2,854$2,520$2,221$1,954$1,173
13 years$2,948$2,579$2,251$1,961$1,704$972
14 years$2,709$2,345$2,023$1,740$1,494$808
15 years$2,502$2,142$1,826$1,552$1,315$675
16 years$2,322$1,965$1,656$1,390$1,162$565
17 years$2,162$1,810$1,507$1,249$1,031$474
18 years$2,021$1,672$1,375$1,125$916$398
19 years$1,894$1,550$1,259$1,017$817$335
20 years$1,781$1,440$1,156$921$730$283
21 years$1,678$1,341$1,063$836$653$239
22 years$1,585$1,252$980$760$585$201
23 years$1,500$1,171$905$692$525$170
24 years$1,422$1,097$837$631$472$144
25 years$1,351$1,030$775$576$425$122
26 years$1,285$968$719$527$383$103
27 years$1,224$911$667$482$345$87
28 years$1,168$858$620$442$311$74
29 years$1,115$810$577$405$281$63
30 years$1,067$765$538$372$254$53
31 years$1,021$723$501$342$230$45
32 years$978$684$468$314$208$38
33 years$938$648$437$289$188$32
34 years$901$614$408$266$170$28
35 years$866$582$381$245$154$23
36 years$832$553$357$225$140$20
37 years$801$525$334$208$127$17
38 years$771$499$313$191$115$14
39 years$743$474$293$176$104$12
40 years$716$451$275$163$94$10
41 years$691$430$258$150$86$9
42 years$667$409$242$139$78$7
43 years$644$390$227$128$71$6
44 years$623$372$213$118$64$5
45 years$602$354$200$109$58$5
46 years$582$338$188$101$53$4
47 years$563$323$176$93$48$3
48 years$545$308$166$86$44$3
49 years$528$294$156$79$40$2
50 years$512$281$146$73$36$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $524,000, adding $5,046 every year, while hoping to spend $37,510 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: 69/14/17 Blend
55$524,000$524,000$524,000$524,000
56$582,653$554,881$546,759$620,159
57$602,173$542,160$525,165$633,081
58$622,427$527,558$501,591$642,300
59$643,451$510,944$475,930$651,444
60$665,281$492,178$448,071$660,504
61$687,958$471,114$417,900$669,467
62$711,524$447,593$385,295$678,322
63$736,027$421,452$350,129$687,057
64$761,514$392,516$312,271$695,662
65$788,040$360,600$271,583$704,125
66$815,659$325,509$227,920$712,435
67$844,434$287,037$181,133$720,583
68$874,429$244,965$131,065$728,557
69$905,716$199,063$77,550$736,350
70$938,370$149,088$20,419$743,954
71$972,474$94,783$0$751,362
72$1,008,115$35,876$0$765,924
73$1,045,389$0$0$784,712
74$1,084,401$0$0$808,354
75$1,125,262$0$0$838,914
76$1,168,093$0$0$870,955
77$1,213,028$0$0$904,579
78$1,260,207$0$0$939,894
79$1,309,788$0$0$977,016
80$1,361,939$0$0$1,016,075
81$1,416,844$0$0$1,057,209
82$1,474,702$0$0$1,100,569
83$1,535,733$0$0$1,146,321
84$1,600,172$0$0$1,194,645
85$1,668,281$0$0$1,245,737
86$1,740,340$0$0$1,299,811
87$1,816,658$0$0$1,357,102
88$1,897,574$0$0$1,417,865
89$1,983,455$0$0$1,482,379
90$2,074,704$0$0$1,550,951
91$2,171,763$0$0$1,623,914
92$2,275,112$0$0$1,701,634
93$2,385,281$0$0$1,784,512
94$2,502,847$0$0$1,872,987
95$2,628,444$0$0$1,967,539
96$2,762,767$0$0$2,068,697
97$2,906,577$0$0$2,177,038
98$3,060,709$0$0$2,293,195
99$3,226,079$0$0$2,417,864
100$3,403,691$0$0$2,551,809