Can I retire at age 56 with 545,000?

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 $545,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$45,006$44,605$44,214$43,832$43,459$42,391
2 years$22,280$21,865$21,463$21,073$20,695$19,626
3 years$14,706$14,289$13,888$13,502$13,130$12,092
4 years$10,919$10,504$10,107$9,727$9,364$8,367
5 years$8,648$8,235$7,843$7,471$7,118$6,164
6 years$7,135$6,725$6,339$5,975$5,633$4,722
7 years$6,054$5,647$5,267$4,912$4,581$3,714
8 years$5,244$4,841$4,467$4,121$3,800$2,977
9 years$4,614$4,215$3,848$3,510$3,200$2,420
10 years$4,110$3,715$3,354$3,026$2,727$1,988
11 years$3,698$3,307$2,953$2,633$2,345$1,647
12 years$3,356$2,969$2,621$2,310$2,032$1,374
13 years$3,066$2,683$2,342$2,039$1,772$1,152
14 years$2,817$2,438$2,104$1,810$1,553$971
15 years$2,602$2,228$1,900$1,614$1,368$821
16 years$2,415$2,044$1,722$1,445$1,209$696
17 years$2,249$1,882$1,567$1,299$1,072$591
18 years$2,102$1,739$1,431$1,170$953$504
19 years$1,970$1,612$1,310$1,058$849$430
20 years$1,852$1,498$1,202$958$759$367
21 years$1,746$1,395$1,106$869$679$314
22 years$1,649$1,302$1,019$790$609$269
23 years$1,560$1,218$941$720$546$231
24 years$1,479$1,141$870$657$491$198
25 years$1,405$1,071$806$600$442$170
26 years$1,337$1,007$747$548$398$146
27 years$1,273$947$694$502$359$126
28 years$1,215$893$645$460$324$108
29 years$1,160$842$600$422$292$93
30 years$1,109$795$559$387$264$80
31 years$1,062$752$521$355$239$69
32 years$1,018$711$486$327$216$59
33 years$976$674$454$300$196$51
34 years$937$639$424$276$177$44
35 years$900$606$397$254$160$38
36 years$866$575$371$234$145$33
37 years$833$546$347$216$132$28
38 years$802$519$325$199$119$24
39 years$773$493$305$183$108$21
40 years$745$469$286$169$98$18
41 years$719$447$268$156$89$15
42 years$694$426$251$144$81$13
43 years$670$405$236$133$73$11
44 years$648$386$221$123$67$10
45 years$626$369$208$113$60$9
46 years$605$352$195$105$55$7
47 years$586$336$183$97$50$6
48 years$567$320$172$89$45$5
49 years$549$306$162$83$41$5
50 years$532$292$152$76$37$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $545,000, adding $4,374 every year, while hoping to spend $33,455 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: 71/14/15 Blend
55$545,000$545,000$545,000$545,000
56$605,102$576,217$567,769$645,705
57$631,226$568,856$551,194$665,876
58$658,894$560,012$532,942$683,490
59$688,228$549,579$512,921$701,903
60$719,360$537,442$491,037$721,187
61$752,438$523,479$467,190$741,424
62$787,620$507,563$441,274$762,703
63$825,081$489,557$413,181$785,124
64$865,012$469,319$382,796$808,799
65$907,624$446,696$349,999$833,849
66$953,145$421,527$314,668$860,413
67$1,001,826$393,643$276,670$888,642
68$1,053,944$362,863$235,870$918,704
69$1,109,801$328,998$192,127$950,786
70$1,169,729$291,847$145,291$985,095
71$1,234,091$251,198$95,208$1,021,861
72$1,303,288$206,825$41,716$1,061,338
73$1,377,756$158,493$0$1,103,809
74$1,457,979$105,951$0$1,152,047
75$1,544,485$48,935$0$1,211,223
76$1,637,855$0$0$1,275,068
77$1,738,728$0$0$1,346,014
78$1,847,804$0$0$1,430,904
79$1,965,856$0$0$1,522,802
80$2,093,731$0$0$1,622,371
81$2,232,360$0$0$1,730,340
82$2,382,770$0$0$1,847,510
83$2,546,087$0$0$1,974,762
84$2,723,550$0$0$2,113,067
85$2,916,524$0$0$2,263,490
86$3,126,510$0$0$2,427,206
87$3,355,158$0$0$2,605,505
88$3,604,285$0$0$2,799,808
89$3,875,890$0$0$3,011,679
90$4,172,174$0$0$3,242,840
91$4,495,559$0$0$3,495,184
92$4,848,710$0$0$3,770,796
93$5,234,563$0$0$4,071,973
94$5,656,349$0$0$4,401,241
95$6,117,624$0$0$4,761,383
96$6,622,305$0$0$5,155,463
97$7,174,705$0$0$5,586,854
98$7,779,574$0$0$6,059,272
99$8,442,140$0$0$6,576,807
100$9,168,162$0$0$7,143,964