Can I retire at age 56 with 561,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $561,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$46,327$45,914$45,512$45,119$44,735$44,490
2 years$22,934$22,507$22,093$21,692$21,302$21,056
3 years$15,138$14,709$14,296$13,898$13,515$13,274
4 years$11,240$10,812$10,404$10,013$9,639$9,405
5 years$8,902$8,477$8,074$7,691$7,327$7,101
6 years$7,344$6,922$6,525$6,150$5,798$5,580
7 years$6,232$5,813$5,422$5,057$4,715$4,506
8 years$5,398$4,983$4,598$4,242$3,912$3,711
9 years$4,749$4,339$3,961$3,613$3,294$3,102
10 years$4,231$3,824$3,453$3,115$2,807$2,622
11 years$3,807$3,404$3,040$2,711$2,414$2,238
12 years$3,454$3,056$2,698$2,378$2,092$1,924
13 years$3,156$2,761$2,410$2,099$1,824$1,664
14 years$2,900$2,510$2,166$1,863$1,599$1,446
15 years$2,679$2,293$1,955$1,662$1,408$1,262
16 years$2,485$2,104$1,773$1,488$1,244$1,106
17 years$2,315$1,938$1,613$1,337$1,103$972
18 years$2,164$1,790$1,473$1,205$981$857
19 years$2,028$1,659$1,348$1,089$874$757
20 years$1,907$1,542$1,237$986$781$669
21 years$1,797$1,436$1,138$895$699$593
22 years$1,697$1,341$1,049$814$627$527
23 years$1,606$1,254$968$741$562$468
24 years$1,523$1,175$896$676$505$417
25 years$1,446$1,102$830$617$455$371
26 years$1,376$1,036$769$564$410$331
27 years$1,311$975$714$517$369$296
28 years$1,250$919$664$473$333$264
29 years$1,194$867$618$434$301$236
30 years$1,142$819$576$398$272$211
31 years$1,093$774$537$366$246$189
32 years$1,047$732$501$336$222$169
33 years$1,005$693$468$309$201$151
34 years$964$657$437$284$182$136
35 years$927$623$408$262$165$121
36 years$891$592$382$241$150$109
37 years$857$562$358$222$136$98
38 years$826$534$335$205$123$88
39 years$795$508$314$189$111$78
40 years$767$483$294$174$101$70
41 years$740$460$276$161$92$63
42 years$714$438$259$148$83$57
43 years$690$417$243$137$76$51
44 years$667$398$228$126$69$46
45 years$644$379$214$117$62$41
46 years$623$362$201$108$56$37
47 years$603$345$189$100$51$33
48 years$584$330$177$92$47$30
49 years$565$315$167$85$42$27
50 years$548$301$157$79$38$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $561,000, adding $4,364 every year, while hoping to spend $27,078 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: 36/49/15 Blend
55$561,000$561,000$561,000$561,000
56$622,723$592,990$584,295$642,134
57$657,430$593,236$575,058$656,788
58$694,770$592,586$564,604$669,706
59$734,982$590,969$552,864$683,069
60$778,330$588,306$539,765$696,931
61$825,104$584,517$525,231$711,351
62$875,621$579,515$509,183$726,401
63$930,231$573,208$491,537$742,158
64$989,318$565,499$472,207$758,712
65$1,053,305$556,284$451,102$776,163
66$1,122,655$545,455$428,127$794,624
67$1,197,878$532,895$403,182$814,222
68$1,279,538$518,483$376,164$835,103
69$1,368,250$502,087$346,965$857,427
70$1,464,693$483,572$315,471$881,375
71$1,569,616$462,791$281,563$907,151
72$1,683,840$439,591$245,119$934,984
73$1,808,270$413,809$206,008$965,127
74$1,943,901$385,273$164,097$997,867
75$2,091,829$353,801$119,244$1,033,524
76$2,253,259$319,201$71,302$1,072,454
77$2,429,519$281,270$20,119$1,115,056
78$2,622,070$239,793$0$1,161,774
79$2,832,521$194,542$0$1,218,626
80$3,062,642$145,279$0$1,284,437
81$3,314,384$91,749$0$1,356,628
82$3,589,892$33,687$0$1,435,913
83$3,891,532$0$0$1,523,083
84$4,221,907$0$0$1,634,760
85$4,583,883$0$0$1,777,098
86$4,980,618$0$0$1,933,186
87$5,415,589$0$0$2,104,402
88$5,892,626$0$0$2,292,264
89$6,415,947$0$0$2,498,444
90$6,990,199$0$0$2,724,784
91$7,620,498$0$0$2,973,313
92$8,312,484$0$0$3,246,265
93$9,072,364$0$0$3,546,104
94$9,906,981$0$0$3,875,541
95$10,823,869$0$0$4,237,564
96$11,831,331$0$0$4,635,465
97$12,938,511$0$0$5,072,871
98$14,155,487$0$0$5,553,776
99$15,493,357$0$0$6,082,583
100$16,964,351$0$0$6,664,142