Can I retire at age 56 with 548,000?

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 $548,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$45,253$44,850$44,457$44,073$43,698$42,642
2 years$22,403$21,985$21,581$21,189$20,809$19,751
3 years$14,787$14,368$13,964$13,576$13,202$12,175
4 years$10,980$10,562$10,162$9,781$9,416$8,429
5 years$8,696$8,281$7,887$7,513$7,158$6,213
6 years$7,174$6,762$6,373$6,008$5,664$4,762
7 years$6,087$5,678$5,296$4,939$4,606$3,748
8 years$5,272$4,867$4,492$4,144$3,821$3,006
9 years$4,639$4,238$3,869$3,529$3,218$2,445
10 years$4,133$3,736$3,373$3,042$2,742$2,010
11 years$3,719$3,326$2,969$2,648$2,358$1,666
12 years$3,374$2,985$2,635$2,322$2,043$1,391
13 years$3,083$2,697$2,354$2,050$1,782$1,167
14 years$2,833$2,452$2,115$1,820$1,562$984
15 years$2,617$2,240$1,910$1,623$1,375$832
16 years$2,428$2,055$1,732$1,453$1,216$706
17 years$2,261$1,893$1,576$1,306$1,078$601
18 years$2,113$1,749$1,438$1,177$958$512
19 years$1,981$1,621$1,317$1,063$854$437
20 years$1,862$1,506$1,209$963$763$374
21 years$1,755$1,403$1,112$874$683$320
22 years$1,658$1,310$1,025$795$612$275
23 years$1,569$1,225$946$724$549$236
24 years$1,488$1,148$875$660$494$202
25 years$1,413$1,077$810$603$444$174
26 years$1,344$1,012$752$551$400$149
27 years$1,280$953$698$505$361$129
28 years$1,221$898$649$462$326$111
29 years$1,167$847$604$424$294$95
30 years$1,115$800$562$389$266$82
31 years$1,068$756$524$357$240$71
32 years$1,023$715$489$328$217$61
33 years$981$677$457$302$197$52
34 years$942$642$427$278$178$45
35 years$905$609$399$256$161$39
36 years$870$578$373$236$146$34
37 years$837$549$349$217$132$29
38 years$806$522$327$200$120$25
39 years$777$496$306$184$109$22
40 years$749$472$287$170$99$19
41 years$723$449$269$157$90$16
42 years$698$428$253$145$81$14
43 years$674$408$237$134$74$12
44 years$651$389$223$123$67$10
45 years$629$371$209$114$61$9
46 years$609$354$196$105$55$8
47 years$589$337$184$97$50$7
48 years$570$322$173$90$46$6
49 years$552$308$163$83$41$5
50 years$535$294$153$77$38$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $548,000, adding $5,905 every year, while hoping to spend $30,855 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: 63/15/22 Blend
55$548,000$548,000$548,000$548,000
56$609,987$580,943$572,449$644,578
57$639,376$576,580$558,797$664,265
58$670,729$570,969$543,653$681,787
59$704,213$564,016$526,935$700,223
60$740,012$555,622$508,556$719,664
61$778,328$545,682$488,427$740,214
62$819,381$534,084$466,453$761,987
63$863,414$520,710$442,536$785,110
64$910,693$505,435$416,571$809,725
65$961,509$488,127$388,452$835,989
66$1,016,183$468,646$358,065$864,078
67$1,075,067$446,843$325,294$894,184
68$1,138,547$422,561$290,014$926,525
69$1,207,047$395,635$252,098$961,339
70$1,281,034$365,889$211,411$998,892
71$1,361,019$333,138$167,814$1,039,479
72$1,447,567$297,186$121,160$1,083,427
73$1,541,297$257,825$71,296$1,131,099
74$1,642,888$214,837$18,063$1,182,896
75$1,753,089$167,991$0$1,239,264
76$1,872,723$117,042$0$1,309,792
77$2,002,696$61,732$0$1,391,047
78$2,144,003$1,789$0$1,479,434
79$2,297,741$0$0$1,575,667
80$2,465,113$0$0$1,690,946
81$2,647,447$0$0$1,816,888
82$2,846,202$0$0$1,954,210
83$3,062,985$0$0$2,104,027
84$3,299,563$0$0$2,267,566
85$3,557,883$0$0$2,446,176
86$3,840,088$0$0$2,641,346
87$4,148,535$0$0$2,854,712
88$4,485,822$0$0$3,088,075
89$4,854,807$0$0$3,343,419
90$5,258,639$0$0$3,622,931
91$5,700,784$0$0$3,929,014
92$6,185,059$0$0$4,264,320
93$6,715,668$0$0$4,631,764
94$7,297,242$0$0$5,034,562
95$7,934,877$0$0$5,476,251
96$8,634,191$0$0$5,960,729
97$9,401,369$0$0$6,492,290
98$10,243,224$0$0$7,075,663
99$11,167,259$0$0$7,716,056
100$12,181,741$0$0$8,419,207