Can I retire at age 56 with 546,000?

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 $546,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$45,088$44,687$44,295$43,912$43,539$42,573
2 years$22,321$21,905$21,502$21,112$20,733$19,765
3 years$14,733$14,315$13,913$13,526$13,154$12,213
4 years$10,939$10,523$10,125$9,745$9,381$8,476
5 years$8,664$8,250$7,858$7,485$7,132$6,264
6 years$7,148$6,737$6,350$5,986$5,643$4,815
7 years$6,065$5,658$5,277$4,921$4,589$3,800
8 years$5,253$4,850$4,475$4,128$3,807$3,056
9 years$4,622$4,223$3,855$3,516$3,206$2,493
10 years$4,118$3,722$3,361$3,031$2,732$2,056
11 years$3,705$3,313$2,959$2,638$2,349$1,710
12 years$3,362$2,974$2,626$2,314$2,036$1,432
13 years$3,071$2,688$2,346$2,043$1,775$1,206
14 years$2,823$2,443$2,108$1,813$1,556$1,020
15 years$2,607$2,232$1,903$1,617$1,370$866
16 years$2,419$2,048$1,725$1,448$1,211$737
17 years$2,253$1,886$1,570$1,301$1,074$629
18 years$2,106$1,742$1,433$1,173$955$539
19 years$1,974$1,615$1,312$1,059$851$462
20 years$1,856$1,501$1,204$960$760$396
21 years$1,749$1,398$1,108$871$680$341
22 years$1,652$1,305$1,021$792$610$293
23 years$1,563$1,220$943$721$547$253
24 years$1,482$1,143$872$658$492$218
25 years$1,408$1,073$807$601$443$188
26 years$1,339$1,008$749$549$399$162
27 years$1,276$949$695$503$360$140
28 years$1,217$894$646$461$324$121
29 years$1,162$844$602$422$293$105
30 years$1,111$797$560$388$265$90
31 years$1,064$753$522$356$239$78
32 years$1,019$713$487$327$216$68
33 years$978$675$455$301$196$59
34 years$939$640$425$277$177$51
35 years$902$607$397$255$161$44
36 years$867$576$372$235$146$38
37 years$834$547$348$216$132$33
38 years$803$520$326$199$120$28
39 years$774$494$305$184$108$25
40 years$746$470$286$170$98$21
41 years$720$448$268$156$89$19
42 years$695$426$252$144$81$16
43 years$671$406$236$133$73$14
44 years$649$387$222$123$67$12
45 years$627$369$208$114$61$10
46 years$607$352$196$105$55$9
47 years$587$336$184$97$50$8
48 years$568$321$173$90$45$7
49 years$550$306$162$83$41$6
50 years$533$293$153$77$37$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $546,000, adding $5,535 every year, while hoping to spend $39,759 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: 32/50/18 Blend
55$546,000$546,000$546,000$546,000
56$607,401$578,463$570,000$623,275
57$627,053$564,505$546,792$621,599
58$647,377$548,530$521,474$615,761
59$668,399$530,397$493,933$608,627
60$690,147$509,959$464,051$600,107
61$712,652$487,056$431,706$590,106
62$735,943$461,522$396,769$578,523
63$760,054$433,182$359,106$565,252
64$785,019$401,847$318,576$550,183
65$810,875$367,322$275,032$533,196
66$837,660$329,397$228,322$514,168
67$865,416$287,852$178,285$492,969
68$894,186$242,454$124,755$469,460
69$924,016$192,957$67,557$443,496
70$954,955$139,102$6,510$414,925
71$987,056$80,613$0$383,586
72$1,020,374$17,202$0$360,571
73$1,054,969$0$0$336,508
74$1,090,903$0$0$338,298
75$1,128,246$0$0$350,005
76$1,167,068$0$0$362,188
77$1,207,448$0$0$374,873
78$1,249,469$0$0$388,087
79$1,293,221$0$0$401,861
80$1,338,798$0$0$416,227
81$1,386,305$0$0$431,219
82$1,435,853$0$0$446,876
83$1,487,561$0$0$463,237
84$1,541,559$0$0$480,347
85$1,597,986$0$0$498,252
86$1,656,993$0$0$517,005
87$1,718,743$0$0$536,660
88$1,783,413$0$0$557,277
89$1,851,193$0$0$578,923
90$1,922,293$0$0$601,669
91$1,996,936$0$0$625,590
92$2,075,368$0$0$650,772
93$2,157,855$0$0$677,306
94$2,244,685$0$0$705,291
95$2,336,174$0$0$734,836
96$2,432,664$0$0$766,059
97$2,534,530$0$0$799,090
98$2,642,179$0$0$834,068
99$2,756,055$0$0$871,149
100$2,876,645$0$0$910,500