Can I retire at age 56 with 562,000?

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 $562,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$46,409$45,996$45,593$45,199$44,815$44,273
2 years$22,975$22,547$22,132$21,730$21,340$20,795
3 years$15,164$14,735$14,321$13,923$13,539$13,008
4 years$11,260$10,832$10,422$10,031$9,656$9,142
5 years$8,918$8,492$8,088$7,704$7,341$6,846
6 years$7,357$6,934$6,536$6,161$5,808$5,333
7 years$6,243$5,824$5,432$5,066$4,724$4,268
8 years$5,407$4,992$4,607$4,249$3,919$3,483
9 years$4,758$4,346$3,968$3,620$3,300$2,884
10 years$4,238$3,831$3,459$3,120$2,812$2,415
11 years$3,814$3,411$3,045$2,715$2,418$2,041
12 years$3,460$3,061$2,703$2,382$2,096$1,737
13 years$3,161$2,766$2,415$2,103$1,827$1,487
14 years$2,905$2,515$2,170$1,867$1,602$1,279
15 years$2,684$2,297$1,959$1,665$1,410$1,104
16 years$2,490$2,108$1,776$1,491$1,247$957
17 years$2,319$1,941$1,616$1,339$1,105$832
18 years$2,167$1,794$1,475$1,207$983$725
19 years$2,032$1,662$1,350$1,091$876$633
20 years$1,910$1,545$1,239$988$782$553
21 years$1,800$1,439$1,140$896$700$485
22 years$1,700$1,343$1,051$815$628$425
23 years$1,609$1,256$970$742$563$373
24 years$1,526$1,177$897$677$506$328
25 years$1,449$1,104$831$618$456$289
26 years$1,378$1,038$771$565$410$254
27 years$1,313$977$716$517$370$224
28 years$1,253$921$665$474$334$198
29 years$1,196$868$619$435$302$174
30 years$1,144$820$577$399$272$154
31 years$1,095$775$538$366$246$136
32 years$1,049$734$502$337$223$120
33 years$1,006$695$468$310$202$106
34 years$966$658$438$285$183$94
35 years$928$625$409$262$165$83
36 years$893$593$383$242$150$73
37 years$859$563$358$223$136$65
38 years$827$535$335$205$123$57
39 years$797$509$314$189$112$51
40 years$768$484$295$174$101$45
41 years$741$461$276$161$92$40
42 years$716$439$259$149$83$35
43 years$691$418$243$137$76$31
44 years$668$399$228$127$69$28
45 years$646$380$214$117$62$24
46 years$624$363$201$108$57$22
47 years$604$346$189$100$51$19
48 years$585$330$178$92$47$17
49 years$566$315$167$85$42$15
50 years$549$301$157$79$39$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $562,000, adding $6,475 every year, while hoping to spend $53,566 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: 56/34/10 Blend
55$562,000$562,000$562,000$562,000
56$626,003$596,217$587,506$659,169
57$632,861$568,438$550,194$654,549
58$638,624$537,502$509,836$643,039
59$643,123$503,199$466,275$629,222
60$646,170$465,304$419,344$612,884
61$647,558$423,583$368,870$593,795
62$647,055$377,784$314,673$571,706
63$644,404$327,645$256,564$546,344
64$639,321$272,887$194,346$517,413
65$631,488$213,215$127,814$484,592
66$620,555$148,318$56,751$447,533
67$606,134$77,868$0$405,854
68$587,794$1,518$0$361,179
69$565,058$0$0$317,616
70$537,398$0$0$298,981
71$504,230$0$0$277,484
72$464,908$0$0$252,156
73$418,715$0$0$222,555
74$364,863$0$0$188,192
75$302,475$0$0$148,527
76$230,587$0$0$102,962
77$148,130$0$0$50,837
78$53,923$0$0$0
79$0$0$0$0
80$0$0$0$0
81$0$0$0$0
82$0$0$0$0
83$0$0$0$0
84$0$0$0$0
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0