Can I retire at age 56 with 543,000?

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 $543,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$44,840$44,441$44,051$43,671$43,300$41,680
2 years$22,198$21,785$21,384$20,996$20,619$19,006
3 years$14,652$14,237$13,837$13,452$13,081$11,526
4 years$10,879$10,465$10,070$9,691$9,330$7,843
5 years$8,616$8,205$7,815$7,444$7,092$5,679
6 years$7,108$6,700$6,315$5,953$5,612$4,272
7 years$6,032$5,627$5,248$4,894$4,564$3,298
8 years$5,224$4,823$4,451$4,106$3,786$2,592
9 years$4,597$4,199$3,833$3,497$3,189$2,065
10 years$4,095$3,702$3,342$3,015$2,717$1,662
11 years$3,685$3,295$2,942$2,624$2,337$1,348
12 years$3,343$2,958$2,611$2,301$2,025$1,100
13 years$3,054$2,673$2,333$2,032$1,766$902
14 years$2,807$2,430$2,096$1,803$1,548$743
15 years$2,593$2,219$1,893$1,608$1,363$613
16 years$2,406$2,036$1,716$1,440$1,204$508
17 years$2,241$1,875$1,561$1,294$1,068$421
18 years$2,094$1,733$1,425$1,166$950$350
19 years$1,963$1,606$1,305$1,054$846$292
20 years$1,845$1,492$1,198$954$756$243
21 years$1,739$1,390$1,101$866$677$203
22 years$1,643$1,298$1,015$787$606$169
23 years$1,555$1,214$937$717$544$141
24 years$1,474$1,137$867$654$489$118
25 years$1,400$1,067$803$597$440$99
26 years$1,332$1,003$745$546$397$83
27 years$1,269$944$691$500$358$69
28 years$1,210$889$643$458$323$58
29 years$1,156$839$598$420$291$48
30 years$1,105$792$557$386$263$41
31 years$1,058$749$519$354$238$34
32 years$1,014$709$485$325$215$28
33 years$972$671$453$299$195$24
34 years$934$636$423$275$176$20
35 years$897$603$395$253$160$17
36 years$862$573$370$233$145$14
37 years$830$544$346$215$131$12
38 years$799$517$324$198$119$10
39 years$770$492$304$183$108$8
40 years$742$468$285$169$98$7
41 years$716$445$267$156$89$6
42 years$691$424$250$144$81$5
43 years$668$404$235$133$73$4
44 years$645$385$221$122$66$3
45 years$624$367$207$113$60$3
46 years$603$350$194$104$55$2
47 years$584$334$183$96$50$2
48 years$565$319$172$89$45$2
49 years$547$305$161$82$41$1
50 years$530$291$152$76$37$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $543,000, adding $6,506 every year, while hoping to spend $35,900 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: 28/45/27 Blend
55$543,000$543,000$543,000$543,000
56$605,097$576,318$567,901$616,829
57$628,620$566,360$548,729$616,716
58$653,338$554,711$527,711$613,051
59$679,337$541,251$504,747$608,385
60$706,708$525,850$479,735$602,657
61$735,549$508,374$452,563$595,804
62$765,971$488,680$423,120$587,760
63$798,090$466,616$391,284$578,455
64$832,036$442,021$356,934$567,821
65$867,950$414,726$319,937$555,783
66$905,985$384,552$280,159$542,268
67$946,309$351,308$237,458$527,197
68$989,106$314,795$191,685$510,492
69$1,034,575$274,801$142,687$492,070
70$1,082,936$231,100$90,302$471,850
71$1,134,430$183,458$34,361$449,747
72$1,189,318$131,624$0$425,675
73$1,247,889$75,334$0$406,846
74$1,310,458$14,310$0$396,912
75$1,377,370$0$0$385,931
76$1,449,005$0$0$399,494
77$1,525,777$0$0$421,684
78$1,608,143$0$0$445,552
79$1,696,603$0$0$471,251
80$1,791,705$0$0$498,950
81$1,894,052$0$0$528,832
82$2,004,305$0$0$561,100
83$2,123,191$0$0$595,977
84$2,251,509$0$0$633,708
85$2,390,136$0$0$674,561
86$2,540,036$0$0$718,831
87$2,702,267$0$0$766,844
88$2,877,995$0$0$818,957
89$3,068,500$0$0$875,564
90$3,275,191$0$0$937,096
91$3,499,616$0$0$1,004,029
92$3,743,479$0$0$1,076,887
93$4,008,653$0$0$1,156,246
94$4,297,200$0$0$1,242,739
95$4,611,388$0$0$1,337,064
96$4,953,713$0$0$1,439,988
97$5,326,922$0$0$1,552,357
98$5,734,039$0$0$1,675,100
99$6,178,390$0$0$1,809,242
100$6,663,638$0$0$1,955,910