Can I retire at age 56 with 548,000?

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 $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%15.7%
1 years$45,253$44,850$44,457$44,073$43,698$42,677
2 years$22,403$21,985$21,581$21,189$20,809$19,785
3 years$14,787$14,368$13,964$13,576$13,202$12,208
4 years$10,980$10,562$10,162$9,781$9,416$8,460
5 years$8,696$8,281$7,887$7,513$7,158$6,243
6 years$7,174$6,762$6,373$6,008$5,664$4,790
7 years$6,087$5,678$5,296$4,939$4,606$3,774
8 years$5,272$4,867$4,492$4,144$3,821$3,030
9 years$4,639$4,238$3,869$3,529$3,218$2,468
10 years$4,133$3,736$3,373$3,042$2,742$2,031
11 years$3,719$3,326$2,969$2,648$2,358$1,686
12 years$3,374$2,985$2,635$2,322$2,043$1,409
13 years$3,083$2,697$2,354$2,050$1,782$1,184
14 years$2,833$2,452$2,115$1,820$1,562$1,000
15 years$2,617$2,240$1,910$1,623$1,375$847
16 years$2,428$2,055$1,732$1,453$1,216$720
17 years$2,261$1,893$1,576$1,306$1,078$613
18 years$2,113$1,749$1,438$1,177$958$523
19 years$1,981$1,621$1,317$1,063$854$448
20 years$1,862$1,506$1,209$963$763$383
21 years$1,755$1,403$1,112$874$683$329
22 years$1,658$1,310$1,025$795$612$282
23 years$1,569$1,225$946$724$549$243
24 years$1,488$1,148$875$660$494$209
25 years$1,413$1,077$810$603$444$180
26 years$1,344$1,012$752$551$400$155
27 years$1,280$953$698$505$361$133
28 years$1,221$898$649$462$326$115
29 years$1,167$847$604$424$294$99
30 years$1,115$800$562$389$266$85
31 years$1,068$756$524$357$240$74
32 years$1,023$715$489$328$217$64
33 years$981$677$457$302$197$55
34 years$942$642$427$278$178$47
35 years$905$609$399$256$161$41
36 years$870$578$373$236$146$35
37 years$837$549$349$217$132$31
38 years$806$522$327$200$120$26
39 years$777$496$306$184$109$23
40 years$749$472$287$170$99$20
41 years$723$449$269$157$90$17
42 years$698$428$253$145$81$15
43 years$674$408$237$134$74$13
44 years$651$389$223$123$67$11
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$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $548,000, adding $2,848 every year, while hoping to spend $34,636 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: 71/15/14 Blend
55$548,000$548,000$548,000$548,000
56$606,834$577,790$569,296$647,837
57$631,878$569,249$551,515$666,877
58$658,317$559,129$531,977$683,241
59$686,254$547,315$510,588$700,248
60$715,806$533,688$487,247$717,953
61$747,099$518,119$461,849$736,420
62$780,269$500,473$434,287$755,719
63$815,466$480,606$404,446$775,929
64$852,856$458,368$372,207$797,138
65$892,617$433,598$337,446$819,442
66$934,946$406,126$300,032$842,951
67$980,058$375,774$259,831$867,784
68$1,028,188$342,351$216,700$894,076
69$1,079,595$305,658$170,491$921,976
70$1,134,561$265,483$121,050$951,650
71$1,193,397$221,601$68,215$983,281
72$1,256,441$173,778$11,818$1,017,075
73$1,324,068$121,762$0$1,053,258
74$1,396,685$65,292$0$1,099,308
75$1,474,743$4,087$0$1,150,633
76$1,558,735$0$0$1,205,805
77$1,649,200$0$0$1,275,458
78$1,746,735$0$0$1,351,301
79$1,851,991$0$0$1,433,171
80$1,965,687$0$0$1,521,630
81$2,088,612$0$0$1,617,292
82$2,221,630$0$0$1,720,837
83$2,365,696$0$0$1,833,009
84$2,521,857$0$0$1,954,626
85$2,691,264$0$0$2,086,590
86$2,875,184$0$0$2,229,891
87$3,075,011$0$0$2,385,619
88$3,292,276$0$0$2,554,971
89$3,528,666$0$0$2,739,267
90$3,786,037$0$0$2,939,957
91$4,066,429$0$0$3,158,639
92$4,372,088$0$0$3,397,068
93$4,705,488$0$0$3,657,178
94$5,069,349$0$0$3,941,099
95$5,466,666$0$0$4,251,173
96$5,900,738$0$0$4,589,978
97$6,375,194$0$0$4,960,355
98$6,894,031$0$0$5,365,430
99$7,461,648$0$0$5,808,645
100$8,082,893$0$0$6,293,790