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%17.7%
1 years$43,271$42,886$42,510$42,143$41,784$40,479
2 years$21,422$21,023$20,636$20,261$19,897$18,594
3 years$14,139$13,738$13,353$12,981$12,624$11,363
4 years$10,499$10,099$9,717$9,352$9,003$7,795
5 years$8,315$7,918$7,541$7,184$6,844$5,692
6 years$6,860$6,466$6,094$5,745$5,416$4,320
7 years$5,821$5,430$5,064$4,723$4,404$3,365
8 years$5,042$4,654$4,295$3,962$3,654$2,670
9 years$4,436$4,052$3,699$3,375$3,077$2,148
10 years$3,952$3,572$3,225$2,909$2,622$1,747
11 years$3,556$3,180$2,839$2,532$2,255$1,431
12 years$3,226$2,854$2,520$2,221$1,954$1,181
13 years$2,948$2,579$2,251$1,961$1,704$979
14 years$2,709$2,345$2,023$1,740$1,494$815
15 years$2,502$2,142$1,826$1,552$1,315$681
16 years$2,322$1,965$1,656$1,390$1,162$570
17 years$2,162$1,810$1,507$1,249$1,031$479
18 years$2,021$1,672$1,375$1,125$916$403
19 years$1,894$1,550$1,259$1,017$817$339
20 years$1,781$1,440$1,156$921$730$286
21 years$1,678$1,341$1,063$836$653$242
22 years$1,585$1,252$980$760$585$204
23 years$1,500$1,171$905$692$525$173
24 years$1,422$1,097$837$631$472$146
25 years$1,351$1,030$775$576$425$124
26 years$1,285$968$719$527$383$105
27 years$1,224$911$667$482$345$89
28 years$1,168$858$620$442$311$76
29 years$1,115$810$577$405$281$64
30 years$1,067$765$538$372$254$54
31 years$1,021$723$501$342$230$46
32 years$978$684$468$314$208$39
33 years$938$648$437$289$188$33
34 years$901$614$408$266$170$28
35 years$866$582$381$245$154$24
36 years$832$553$357$225$140$20
37 years$801$525$334$208$127$17
38 years$771$499$313$191$115$15
39 years$743$474$293$176$104$12
40 years$716$451$275$163$94$11
41 years$691$430$258$150$86$9
42 years$667$409$242$139$78$8
43 years$644$390$227$128$71$6
44 years$623$372$213$118$64$6
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 $5,514 every year, while hoping to spend $39,499 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: 41/37/22 Blend
55$524,000$524,000$524,000$524,000
56$583,136$555,364$547,242$603,069
57$600,589$540,550$523,548$603,030
58$618,499$523,686$497,736$598,797
59$636,869$504,631$469,694$593,417
60$655,705$483,233$439,304$586,808
61$675,010$459,334$406,444$578,880
62$694,785$432,765$370,983$569,541
63$715,031$403,349$332,789$558,691
64$735,747$370,896$291,721$546,225
65$756,932$335,209$247,632$532,032
66$778,581$296,076$200,370$515,993
67$800,688$253,275$149,774$497,983
68$823,245$206,572$95,678$477,869
69$846,240$155,719$37,907$455,511
70$869,660$100,453$0$430,760
71$893,488$40,498$0$409,031
72$917,703$0$0$394,440
73$942,279$0$0$387,900
74$967,188$0$0$397,963
75$992,395$0$0$408,122
76$1,017,860$0$0$418,359
77$1,043,535$0$0$428,652
78$1,069,367$0$0$438,974
79$1,095,295$0$0$449,297
80$1,121,249$0$0$459,587
81$1,147,149$0$0$469,808
82$1,172,903$0$0$479,917
83$1,198,410$0$0$489,866
84$1,223,554$0$0$499,601
85$1,248,203$0$0$509,061
86$1,272,212$0$0$518,180
87$1,295,416$0$0$526,880
88$1,317,630$0$0$535,077
89$1,338,647$0$0$542,675
90$1,358,237$0$0$549,568
91$1,376,141$0$0$555,637
92$1,392,071$0$0$560,752
93$1,405,706$0$0$564,764
94$1,416,688$0$0$567,509
95$1,424,620$0$0$568,807
96$1,429,060$0$0$568,455
97$1,429,514$0$0$566,227
98$1,425,438$0$0$561,877
99$1,416,225$0$0$555,126
100$1,401,201$0$0$545,668