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%12.4%
1 years$46,244$45,832$45,430$45,038$44,655$44,207
2 years$22,893$22,467$22,054$21,653$21,264$20,813
3 years$15,111$14,682$14,270$13,873$13,491$13,051
4 years$11,220$10,793$10,385$9,995$9,622$9,196
5 years$8,886$8,462$8,059$7,677$7,314$6,904
6 years$7,331$6,910$6,513$6,139$5,788$5,393
7 years$6,220$5,803$5,412$5,048$4,707$4,328
8 years$5,388$4,974$4,590$4,234$3,905$3,542
9 years$4,741$4,331$3,953$3,607$3,288$2,942
10 years$4,223$3,817$3,447$3,109$2,802$2,471
11 years$3,800$3,398$3,034$2,706$2,410$2,094
12 years$3,448$3,050$2,693$2,373$2,088$1,788
13 years$3,150$2,757$2,406$2,095$1,821$1,535
14 years$2,895$2,506$2,162$1,860$1,596$1,325
15 years$2,674$2,289$1,952$1,659$1,405$1,148
16 years$2,481$2,100$1,770$1,485$1,242$998
17 years$2,311$1,934$1,610$1,334$1,101$871
18 years$2,160$1,787$1,470$1,203$979$761
19 years$2,025$1,656$1,346$1,087$873$667
20 years$1,903$1,539$1,235$984$780$586
21 years$1,794$1,434$1,136$893$698$515
22 years$1,694$1,338$1,047$812$625$453
23 years$1,603$1,252$967$740$561$400
24 years$1,520$1,173$894$675$505$353
25 years$1,444$1,101$828$616$454$312
26 years$1,373$1,034$768$563$409$276
27 years$1,308$973$713$516$369$244
28 years$1,248$917$663$472$333$216
29 years$1,192$865$617$433$300$191
30 years$1,140$817$575$398$271$169
31 years$1,091$773$536$365$245$150
32 years$1,046$731$500$336$222$133
33 years$1,003$692$467$309$201$118
34 years$963$656$436$284$182$105
35 years$925$622$408$261$165$93
36 years$889$591$381$241$149$83
37 years$856$561$357$222$135$74
38 years$824$533$334$204$123$65
39 years$794$507$313$188$111$58
40 years$766$482$294$174$101$52
41 years$739$459$275$160$92$46
42 years$713$437$258$148$83$41
43 years$689$417$242$137$75$36
44 years$665$397$227$126$68$32
45 years$643$379$214$117$62$29
46 years$622$361$201$108$56$25
47 years$602$345$188$99$51$23
48 years$583$329$177$92$47$20
49 years$564$314$166$85$42$18
50 years$547$300$156$78$38$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $560,000, adding $6,590 every year, while hoping to spend $24,489 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: 78/10/12 Blend
55$560,000$560,000$560,000$560,000
56$623,918$594,238$585,558$670,650
57$661,501$597,299$579,118$705,384
58$702,097$599,690$571,641$739,675
59$745,988$601,351$563,068$776,588
60$793,482$602,221$553,334$816,373
61$844,919$602,232$542,373$859,308
62$900,674$601,314$530,116$905,699
63$961,158$599,394$516,489$955,881
64$1,026,822$596,390$501,418$1,010,227
65$1,098,164$592,220$484,822$1,069,144
66$1,175,732$586,793$466,618$1,133,084
67$1,260,126$580,015$446,719$1,202,543
68$1,352,009$571,786$425,034$1,278,069
69$1,452,109$561,999$401,469$1,360,264
70$1,561,230$550,542$375,923$1,449,795
71$1,680,252$537,296$348,293$1,547,394
72$1,810,147$522,133$318,470$1,653,869
73$1,951,984$504,920$286,341$1,770,113
74$2,106,941$485,515$251,788$1,897,106
75$2,276,313$463,769$214,687$2,035,932
76$2,461,527$439,524$174,909$2,187,784
77$2,664,152$412,610$132,318$2,353,979
78$2,885,920$382,852$86,775$2,535,966
79$3,128,733$350,061$38,131$2,735,345
80$3,394,689$314,040$0$2,953,880
81$3,686,098$274,579$0$3,195,277
82$4,005,503$231,456$0$3,465,239
83$4,355,705$184,438$0$3,761,264
84$4,739,790$133,278$0$4,085,975
85$5,161,155$77,715$0$4,442,268
86$5,623,543$17,473$0$4,833,329
87$6,131,077$0$0$5,262,673
88$6,688,298$0$0$5,739,423
89$7,300,210$0$0$6,265,096
90$7,972,322$0$0$6,842,506
91$8,710,705$0$0$7,476,870
92$9,522,047$0$0$8,173,936
93$10,413,717$0$0$8,940,038
94$11,393,829$0$0$9,782,152
95$12,471,328$0$0$10,707,963
96$13,656,064$0$0$11,725,941
97$14,958,892$0$0$12,845,413
98$16,391,771$0$0$14,076,660
99$17,967,876$0$0$15,431,005
100$19,701,724$0$0$16,920,928