Can I retire at age 56 with 556,000?

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 $556,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$45,914$45,505$45,106$44,717$44,336$43,602
2 years$22,730$22,306$21,896$21,498$21,112$20,375
3 years$15,003$14,577$14,168$13,774$13,395$12,676
4 years$11,140$10,716$10,311$9,924$9,553$8,860
5 years$8,823$8,401$8,002$7,622$7,262$6,596
6 years$7,279$6,860$6,467$6,096$5,746$5,108
7 years$6,176$5,761$5,374$5,011$4,673$4,063
8 years$5,349$4,939$4,557$4,204$3,877$3,295
9 years$4,707$4,300$3,925$3,581$3,265$2,711
10 years$4,193$3,790$3,422$3,087$2,782$2,255
11 years$3,773$3,374$3,013$2,686$2,393$1,892
12 years$3,423$3,028$2,674$2,356$2,073$1,599
13 years$3,128$2,737$2,389$2,080$1,808$1,359
14 years$2,874$2,488$2,146$1,847$1,585$1,160
15 years$2,655$2,273$1,938$1,647$1,395$995
16 years$2,463$2,085$1,757$1,475$1,233$855
17 years$2,294$1,920$1,599$1,325$1,094$738
18 years$2,144$1,774$1,459$1,194$972$638
19 years$2,010$1,644$1,336$1,079$867$552
20 years$1,890$1,528$1,226$977$774$479
21 years$1,781$1,423$1,128$887$693$416
22 years$1,682$1,329$1,039$806$621$362
23 years$1,592$1,243$960$734$557$315
24 years$1,509$1,164$888$670$501$275
25 years$1,433$1,093$822$612$451$240
26 years$1,364$1,027$762$559$406$209
27 years$1,299$966$708$512$366$183
28 years$1,239$911$658$469$330$160
29 years$1,184$859$613$430$298$140
30 years$1,132$811$571$395$270$122
31 years$1,083$767$532$363$244$107
32 years$1,038$726$496$333$220$94
33 years$996$687$463$306$199$82
34 years$956$651$433$282$181$72
35 years$918$618$405$260$164$63
36 years$883$586$379$239$148$55
37 years$850$557$354$220$134$48
38 years$818$529$332$203$122$42
39 years$788$503$311$187$110$37
40 years$760$479$291$173$100$32
41 years$733$456$273$159$91$28
42 years$708$434$256$147$82$25
43 years$684$414$241$136$75$22
44 years$661$394$226$125$68$19
45 years$639$376$212$116$62$17
46 years$618$359$199$107$56$15
47 years$598$342$187$99$51$13
48 years$579$327$176$91$46$11
49 years$560$312$165$84$42$10
50 years$543$298$155$78$38$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $556,000, adding $3,049 every year, while hoping to spend $21,948 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: 67/10/23 Blend
55$556,000$556,000$556,000$556,000
56$615,857$586,389$577,771$653,309
57$655,322$591,770$573,774$684,206
58$698,077$596,678$568,907$715,191
59$744,434$601,069$563,119$748,565
60$794,736$604,891$556,354$784,561
61$849,363$608,094$548,555$823,442
62$908,728$610,621$539,662$865,492
63$973,289$612,413$529,612$911,029
64$1,043,550$613,406$518,339$960,402
65$1,120,064$613,535$505,774$1,013,995
66$1,203,439$612,726$491,847$1,072,235
67$1,294,346$610,906$476,480$1,135,590
68$1,393,522$607,994$459,595$1,204,578
69$1,501,780$603,904$441,109$1,279,770
70$1,620,012$598,546$420,938$1,361,795
71$1,749,204$591,825$398,989$1,451,349
72$1,890,437$583,639$375,170$1,549,199
73$2,044,905$573,881$349,382$1,656,190
74$2,213,921$562,436$321,521$1,773,255
75$2,398,929$549,184$291,481$1,901,425
76$2,601,523$533,997$259,149$2,041,833
77$2,823,456$516,740$224,407$2,195,734
78$3,066,658$497,270$187,134$2,364,508
79$3,333,255$475,435$147,202$2,549,679
80$3,625,590$451,074$104,476$2,752,928
81$3,946,242$424,019$58,818$2,976,109
82$4,298,052$394,089$10,082$3,221,265
83$4,684,150$361,096$0$3,490,652
84$5,107,982$324,838$0$3,797,045
85$5,573,345$285,104$0$4,136,207
86$6,084,423$241,670$0$4,508,725
87$6,645,822$194,300$0$4,917,976
88$7,262,618$142,744$0$5,367,681
89$7,940,404$86,737$0$5,861,940
90$8,685,339$26,001$0$6,405,274
91$9,504,211$0$0$7,002,661
92$10,404,496$0$0$7,663,964
93$11,394,433$0$0$8,394,303
94$12,483,096$0$0$9,197,519
95$13,680,485$0$0$10,080,993
96$14,997,618$0$0$11,052,859
97$16,446,632$0$0$12,122,079
98$18,040,903$0$0$13,298,527
99$19,795,165$0$0$14,593,083
100$21,725,656$0$0$16,017,734