Can I retire at age 56 with 560,000?

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 $560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$46,244$45,832$45,430$45,038$44,655$44,061
2 years$22,893$22,467$22,054$21,653$21,264$20,666
3 years$15,111$14,682$14,270$13,873$13,491$12,908
4 years$11,220$10,793$10,385$9,995$9,622$9,059
5 years$8,886$8,462$8,059$7,677$7,314$6,772
6 years$7,331$6,910$6,513$6,139$5,788$5,267
7 years$6,220$5,803$5,412$5,048$4,707$4,209
8 years$5,388$4,974$4,590$4,234$3,905$3,429
9 years$4,741$4,331$3,953$3,607$3,288$2,834
10 years$4,223$3,817$3,447$3,109$2,802$2,369
11 years$3,800$3,398$3,034$2,706$2,410$1,998
12 years$3,448$3,050$2,693$2,373$2,088$1,697
13 years$3,150$2,757$2,406$2,095$1,821$1,450
14 years$2,895$2,506$2,162$1,860$1,596$1,244
15 years$2,674$2,289$1,952$1,659$1,405$1,073
16 years$2,481$2,100$1,770$1,485$1,242$928
17 years$2,311$1,934$1,610$1,334$1,101$804
18 years$2,160$1,787$1,470$1,203$979$699
19 years$2,025$1,656$1,346$1,087$873$609
20 years$1,903$1,539$1,235$984$780$532
21 years$1,794$1,434$1,136$893$698$465
22 years$1,694$1,338$1,047$812$625$407
23 years$1,603$1,252$967$740$561$356
24 years$1,520$1,173$894$675$505$313
25 years$1,444$1,101$828$616$454$274
26 years$1,373$1,034$768$563$409$241
27 years$1,308$973$713$516$369$212
28 years$1,248$917$663$472$333$186
29 years$1,192$865$617$433$300$164
30 years$1,140$817$575$398$271$145
31 years$1,091$773$536$365$245$127
32 years$1,046$731$500$336$222$112
33 years$1,003$692$467$309$201$99
34 years$963$656$436$284$182$87
35 years$925$622$408$261$165$77
36 years$889$591$381$241$149$68
37 years$856$561$357$222$135$60
38 years$824$533$334$204$123$53
39 years$794$507$313$188$111$47
40 years$766$482$294$174$101$41
41 years$739$459$275$160$92$36
42 years$713$437$258$148$83$32
43 years$689$417$242$137$75$28
44 years$665$397$227$126$68$25
45 years$643$379$214$117$62$22
46 years$622$361$201$108$56$19
47 years$602$345$188$99$51$17
48 years$583$329$177$92$47$15
49 years$564$314$166$85$42$13
50 years$547$300$156$78$38$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $560,000, adding $4,581 every year, while hoping to spend $32,042 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: 46/24/30 Blend
55$560,000$560,000$560,000$560,000
56$621,845$592,165$583,485$644,894
57$651,181$587,089$568,940$656,645
58$682,435$580,690$552,833$665,957
59$715,770$572,870$535,079$675,458
60$751,361$563,524$515,587$685,182
61$789,405$552,541$494,264$695,172
62$830,113$539,804$471,010$705,475
63$873,719$525,190$445,724$716,147
64$920,480$508,565$418,297$727,250
65$970,676$489,792$388,617$738,859
66$1,024,616$468,722$356,567$751,055
67$1,082,637$445,201$322,022$763,932
68$1,145,113$419,062$284,857$777,599
69$1,212,450$390,132$244,936$792,177
70$1,285,098$358,227$202,119$807,803
71$1,363,549$323,150$156,261$824,632
72$1,448,344$284,698$107,208$842,841
73$1,540,078$242,651$54,803$862,626
74$1,639,405$196,780$0$884,210
75$1,747,044$146,841$0$908,202
76$1,863,785$92,579$0$953,267
77$1,990,498$33,722$0$1,002,215
78$2,128,138$0$0$1,055,459
79$2,277,758$0$0$1,121,383
80$2,440,515$0$0$1,202,840
81$2,617,682$0$0$1,291,569
82$2,810,658$0$0$1,388,278
83$3,020,987$0$0$1,493,748
84$3,250,364$0$0$1,608,837
85$3,500,656$0$0$1,734,492
86$3,773,918$0$0$1,871,753
87$4,072,414$0$0$2,021,764
88$4,398,633$0$0$2,185,789
89$4,755,318$0$0$2,365,214
90$5,145,487$0$0$2,561,571
91$5,572,466$0$0$2,776,541
92$6,039,913$0$0$3,011,979
93$6,551,860$0$0$3,269,928
94$7,112,746$0$0$3,552,635
95$7,727,459$0$0$3,862,577
96$8,401,383$0$0$4,202,482
97$9,140,448$0$0$4,575,353
98$9,951,184$0$0$4,984,501
99$10,840,785$0$0$5,433,569
100$11,817,175$0$0$5,926,572