Can I retire at age 56 with 549,000?

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 $549,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$45,336$44,932$44,538$44,154$43,778$43,448
2 years$22,444$22,026$21,620$21,228$20,847$20,513
3 years$14,814$14,394$13,990$13,601$13,226$12,900
4 years$11,000$10,581$10,181$9,799$9,433$9,117
5 years$8,712$8,296$7,901$7,526$7,171$6,866
6 years$7,187$6,774$6,385$6,019$5,674$5,381
7 years$6,098$5,689$5,306$4,948$4,614$4,333
8 years$5,282$4,876$4,500$4,151$3,828$3,558
9 years$4,648$4,246$3,876$3,536$3,224$2,965
10 years$4,140$3,742$3,379$3,048$2,747$2,500
11 years$3,726$3,332$2,975$2,653$2,362$2,127
12 years$3,380$2,990$2,640$2,327$2,047$1,822
13 years$3,088$2,702$2,359$2,054$1,785$1,571
14 years$2,838$2,456$2,119$1,823$1,565$1,361
15 years$2,622$2,244$1,913$1,626$1,378$1,184
16 years$2,432$2,059$1,735$1,456$1,218$1,034
17 years$2,265$1,896$1,579$1,308$1,080$906
18 years$2,117$1,752$1,441$1,179$960$795
19 years$1,985$1,624$1,319$1,065$856$700
20 years$1,866$1,509$1,211$965$764$617
21 years$1,758$1,405$1,114$876$684$545
22 years$1,661$1,312$1,026$796$613$482
23 years$1,572$1,227$948$725$550$427
24 years$1,490$1,150$876$661$495$379
25 years$1,415$1,079$812$604$445$336
26 years$1,346$1,014$753$552$401$298
27 years$1,283$954$699$505$362$265
28 years$1,224$899$650$463$326$236
29 years$1,169$848$605$425$295$210
30 years$1,118$801$563$390$266$187
31 years$1,070$757$525$358$241$167
32 years$1,025$717$490$329$218$149
33 years$983$679$458$303$197$133
34 years$944$643$427$278$178$118
35 years$907$610$400$256$162$105
36 years$872$579$374$236$146$94
37 years$839$550$350$217$133$84
38 years$808$523$328$200$120$75
39 years$778$497$307$185$109$67
40 years$751$473$288$170$99$60
41 years$724$450$270$157$90$53
42 years$699$429$253$145$81$48
43 years$675$408$238$134$74$43
44 years$652$389$223$124$67$38
45 years$631$371$209$114$61$34
46 years$610$354$197$106$55$30
47 years$590$338$185$97$50$27
48 years$571$323$174$90$46$24
49 years$553$308$163$83$41$22
50 years$536$294$153$77$38$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $549,000, adding $5,702 every year, while hoping to spend $31,712 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: 58/13/29 Blend
55$549,000$549,000$549,000$549,000
56$610,880$581,783$573,273$641,163
57$639,448$576,549$558,736$657,334
58$669,868$569,995$542,650$671,142
59$702,294$562,025$524,928$685,551
60$736,896$552,532$505,482$700,630
61$773,862$541,409$484,218$716,455
62$813,394$528,537$461,038$733,110
63$855,718$513,793$435,840$750,693
64$901,079$497,046$408,519$769,310
65$949,746$478,158$378,961$789,080
66$1,002,015$456,983$347,051$810,140
67$1,058,211$433,365$312,667$832,637
68$1,118,689$407,140$275,682$856,740
69$1,183,840$378,135$235,963$882,635
70$1,254,095$346,168$193,371$910,530
71$1,329,926$311,042$147,761$940,658
72$1,411,850$272,556$98,983$973,276
73$1,500,439$230,490$46,879$1,008,673
74$1,596,317$184,618$0$1,047,167
75$1,700,175$134,698$0$1,091,816
76$1,812,768$80,473$0$1,155,970
77$1,934,930$21,676$0$1,225,603
78$2,067,576$0$0$1,301,261
79$2,211,714$0$0$1,389,551
80$2,368,451$0$0$1,488,972
81$2,539,006$0$0$1,597,201
82$2,724,720$0$0$1,715,095
83$2,927,069$0$0$1,843,596
84$3,147,677$0$0$1,983,741
85$3,388,332$0$0$2,136,672
86$3,651,001$0$0$2,303,645
87$3,937,849$0$0$2,486,044
88$4,251,261$0$0$2,685,392
89$4,593,861$0$0$2,903,366
90$4,968,539$0$0$3,141,810
91$5,378,476$0$0$3,402,758
92$5,827,177$0$0$3,688,449
93$6,318,497$0$0$4,001,345
94$6,856,686$0$0$4,344,163
95$7,446,422$0$0$4,719,890
96$8,092,857$0$0$5,131,820
97$8,801,666$0$0$5,583,576
98$9,579,099$0$0$6,079,154
99$10,432,039$0$0$6,622,951
100$11,368,069$0$0$7,219,813