Can I retire at age 56 with 554,000?

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 $554,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$45,749$45,341$44,944$44,556$44,177$42,474
2 years$22,648$22,226$21,817$21,421$21,037$19,342
3 years$14,949$14,525$14,117$13,725$13,346$11,712
4 years$11,100$10,677$10,274$9,888$9,519$7,958
5 years$8,791$8,371$7,973$7,595$7,236$5,753
6 years$7,252$6,836$6,443$6,074$5,726$4,321
7 years$6,154$5,741$5,354$4,993$4,656$3,329
8 years$5,330$4,921$4,541$4,189$3,863$2,613
9 years$4,690$4,284$3,911$3,568$3,253$2,078
10 years$4,178$3,777$3,410$3,076$2,772$1,669
11 years$3,760$3,362$3,002$2,677$2,384$1,351
12 years$3,411$3,018$2,664$2,348$2,066$1,100
13 years$3,116$2,727$2,380$2,073$1,801$900
14 years$2,864$2,479$2,139$1,840$1,579$740
15 years$2,645$2,264$1,931$1,641$1,390$610
16 years$2,454$2,078$1,751$1,469$1,229$504
17 years$2,286$1,913$1,593$1,320$1,090$417
18 years$2,137$1,768$1,454$1,190$969$346
19 years$2,003$1,639$1,331$1,075$864$287
20 years$1,883$1,523$1,222$974$771$239
21 years$1,774$1,418$1,124$884$690$199
22 years$1,676$1,324$1,036$803$619$166
23 years$1,586$1,238$956$732$555$138
24 years$1,504$1,160$884$667$499$115
25 years$1,428$1,089$819$609$449$96
26 years$1,359$1,023$760$557$405$80
27 years$1,294$963$705$510$365$67
28 years$1,235$907$656$467$329$56
29 years$1,179$856$610$429$297$47
30 years$1,128$808$568$393$269$39
31 years$1,080$764$530$361$243$33
32 years$1,034$723$494$332$220$27
33 years$992$685$462$305$199$23
34 years$952$649$431$281$180$19
35 years$915$616$403$259$163$16
36 years$880$584$377$238$148$13
37 years$847$555$353$219$134$11
38 years$815$527$331$202$121$9
39 years$786$502$310$186$110$8
40 years$757$477$290$172$100$6
41 years$731$454$272$159$91$5
42 years$705$433$255$146$82$5
43 years$681$412$240$135$75$4
44 years$658$393$225$125$68$3
45 years$636$375$211$115$61$3
46 years$615$357$198$106$56$2
47 years$596$341$186$98$51$2
48 years$577$326$175$91$46$2
49 years$558$311$165$84$42$1
50 years$541$297$155$78$38$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $554,000, adding $3,523 every year, while hoping to spend $40,245 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: 52/30/18 Blend
55$554,000$554,000$554,000$554,000
56$614,142$584,780$576,193$642,879
57$633,964$570,614$552,675$648,832
58$654,459$554,405$527,020$650,802
59$675,654$536,010$499,115$652,070
60$697,574$515,279$468,840$652,581
61$720,251$492,051$436,070$652,279
62$743,714$466,159$400,675$651,104
63$767,994$437,422$362,520$648,993
64$793,127$405,653$321,461$645,879
65$819,147$370,652$277,351$641,692
66$846,092$332,206$230,035$636,359
67$874,003$290,094$179,351$629,803
68$902,922$244,078$125,129$621,943
69$932,893$193,911$67,194$612,692
70$963,964$139,329$5,361$601,961
71$996,185$80,053$0$589,657
72$1,029,611$15,790$0$587,323
73$1,064,298$0$0$585,069
74$1,100,309$0$0$599,546
75$1,137,707$0$0$620,000
76$1,176,562$0$0$641,260
77$1,216,949$0$0$663,365
78$1,258,947$0$0$686,361
79$1,302,642$0$0$710,295
80$1,348,125$0$0$735,219
81$1,395,495$0$0$761,189
82$1,444,858$0$0$788,263
83$1,496,326$0$0$816,506
84$1,550,023$0$0$845,987
85$1,606,081$0$0$876,780
86$1,664,643$0$0$908,966
87$1,725,862$0$0$942,631
88$1,789,905$0$0$977,870
89$1,856,953$0$0$1,014,785
90$1,927,201$0$0$1,053,486
91$2,000,861$0$0$1,094,094
92$2,078,162$0$0$1,136,737
93$2,159,354$0$0$1,181,558
94$2,244,708$0$0$1,228,711
95$2,334,519$0$0$1,278,362
96$2,429,108$0$0$1,330,693
97$2,528,823$0$0$1,385,904
98$2,634,045$0$0$1,444,209
99$2,745,190$0$0$1,505,845
100$2,862,709$0$0$1,571,070