Can I retire at age 56 with 546,000?

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 $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%12.6%
1 years$45,088$44,687$44,295$43,912$43,539$43,066
2 years$22,321$21,905$21,502$21,112$20,733$20,257
3 years$14,733$14,315$13,913$13,526$13,154$12,689
4 years$10,939$10,523$10,125$9,745$9,381$8,932
5 years$8,664$8,250$7,858$7,485$7,132$6,699
6 years$7,148$6,737$6,350$5,986$5,643$5,227
7 years$6,065$5,658$5,277$4,921$4,589$4,190
8 years$5,253$4,850$4,475$4,128$3,807$3,426
9 years$4,622$4,223$3,855$3,516$3,206$2,841
10 years$4,118$3,722$3,361$3,031$2,732$2,384
11 years$3,705$3,313$2,959$2,638$2,349$2,018
12 years$3,362$2,974$2,626$2,314$2,036$1,720
13 years$3,071$2,688$2,346$2,043$1,775$1,476
14 years$2,823$2,443$2,108$1,813$1,556$1,272
15 years$2,607$2,232$1,903$1,617$1,370$1,101
16 years$2,419$2,048$1,725$1,448$1,211$956
17 years$2,253$1,886$1,570$1,301$1,074$832
18 years$2,106$1,742$1,433$1,173$955$727
19 years$1,974$1,615$1,312$1,059$851$636
20 years$1,856$1,501$1,204$960$760$557
21 years$1,749$1,398$1,108$871$680$489
22 years$1,652$1,305$1,021$792$610$430
23 years$1,563$1,220$943$721$547$379
24 years$1,482$1,143$872$658$492$334
25 years$1,408$1,073$807$601$443$294
26 years$1,339$1,008$749$549$399$260
27 years$1,276$949$695$503$360$230
28 years$1,217$894$646$461$324$203
29 years$1,162$844$602$422$293$179
30 years$1,111$797$560$388$265$159
31 years$1,064$753$522$356$239$141
32 years$1,019$713$487$327$216$124
33 years$978$675$455$301$196$110
34 years$939$640$425$277$177$98
35 years$902$607$397$255$161$87
36 years$867$576$372$235$146$77
37 years$834$547$348$216$132$68
38 years$803$520$326$199$120$60
39 years$774$494$305$184$108$54
40 years$746$470$286$170$98$48
41 years$720$448$268$156$89$42
42 years$695$426$252$144$81$37
43 years$671$406$236$133$73$33
44 years$649$387$222$123$67$29
45 years$627$369$208$114$61$26
46 years$607$352$196$105$55$23
47 years$587$336$184$97$50$21
48 years$568$321$173$90$45$18
49 years$550$306$162$83$41$16
50 years$533$293$153$77$37$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $546,000, adding $3,493 every year, while hoping to spend $47,528 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: 84/8/8 Blend
55$546,000$546,000$546,000$546,000
56$605,295$576,357$567,894$655,298
57$616,466$554,029$536,349$666,156
58$627,183$529,014$502,154$671,297
59$637,350$501,130$465,171$675,463
60$646,859$470,185$425,254$678,524
61$655,590$435,976$382,251$680,341
62$663,409$398,287$336,005$680,759
63$670,164$356,891$286,349$679,604
64$675,690$311,548$233,111$676,690
65$679,801$262,003$176,110$671,807
66$682,289$207,990$115,158$664,726
67$682,925$149,224$50,059$655,195
68$681,454$85,407$0$642,936
69$677,592$16,222$0$629,299
70$671,025$0$0$616,958
71$661,405$0$0$606,447
72$648,344$0$0$594,174
73$631,414$0$0$578,314
74$610,141$0$0$558,428
75$584,000$0$0$534,029
76$552,408$0$0$504,578
77$514,722$0$0$469,480
78$470,231$0$0$428,074
79$418,145$0$0$379,633
80$357,596$0$0$323,350
81$287,620$0$0$258,333
82$207,153$0$0$183,597
83$115,020$0$0$98,054
84$9,921$0$0$501
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0