Can I retire at age 56 with 563,000?

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 $563,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$46,492$46,078$45,674$45,279$44,894$43,336
2 years$23,016$22,587$22,172$21,769$21,378$19,824
3 years$15,191$14,761$14,347$13,948$13,563$12,063
4 years$11,280$10,851$10,441$10,048$9,673$8,238
5 years$8,934$8,507$8,102$7,718$7,354$5,986
6 years$7,370$6,947$6,548$6,172$5,819$4,521
7 years$6,254$5,834$5,441$5,075$4,732$3,504
8 years$5,417$5,001$4,615$4,257$3,926$2,766
9 years$4,766$4,354$3,975$3,626$3,306$2,213
10 years$4,246$3,838$3,465$3,126$2,817$1,789
11 years$3,821$3,417$3,051$2,720$2,423$1,458
12 years$3,466$3,067$2,707$2,386$2,099$1,195
13 years$3,167$2,771$2,419$2,106$1,831$985
14 years$2,910$2,519$2,173$1,870$1,605$815
15 years$2,688$2,301$1,962$1,668$1,413$676
16 years$2,494$2,111$1,779$1,493$1,249$563
17 years$2,323$1,944$1,619$1,342$1,107$469
18 years$2,171$1,797$1,478$1,209$985$392
19 years$2,036$1,665$1,353$1,092$878$328
20 years$1,913$1,547$1,242$989$784$275
21 years$1,803$1,441$1,142$898$701$231
22 years$1,703$1,345$1,053$816$629$194
23 years$1,612$1,258$972$744$564$163
24 years$1,528$1,179$899$678$507$137
25 years$1,452$1,106$832$619$456$115
26 years$1,381$1,040$772$566$411$97
27 years$1,315$979$717$518$371$81
28 years$1,255$922$666$475$335$68
29 years$1,198$870$620$436$302$58
30 years$1,146$822$578$400$273$49
31 years$1,097$777$539$367$247$41
32 years$1,051$735$503$337$223$34
33 years$1,008$696$469$310$202$29
34 years$968$660$438$285$183$24
35 years$930$626$410$263$166$21
36 years$894$594$383$242$150$17
37 years$860$564$359$223$136$15
38 years$829$536$336$206$123$12
39 years$798$510$315$190$112$10
40 years$770$485$295$175$101$9
41 years$743$462$277$161$92$7
42 years$717$440$260$149$84$6
43 years$692$419$244$137$76$5
44 years$669$399$229$127$69$4
45 years$647$381$215$117$62$4
46 years$625$363$202$108$57$3
47 years$605$347$189$100$51$3
48 years$586$331$178$92$47$2
49 years$567$316$167$85$42$2
50 years$550$302$157$79$39$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $563,000, adding $2,129 every year, while hoping to spend $32,965 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: 51/26/23 Blend
55$563,000$563,000$563,000$563,000
56$622,622$592,783$584,057$650,276
57$651,055$586,755$568,548$663,626
58$681,283$579,327$551,415$674,596
59$713,455$570,395$532,568$685,844
60$747,733$559,849$511,915$697,408
61$784,295$547,575$489,357$709,335
62$823,335$533,448$464,792$721,675
63$865,067$517,339$438,115$734,488
64$909,725$499,110$409,213$747,841
65$957,565$478,614$377,970$761,811
66$1,008,869$455,699$344,264$776,485
67$1,063,946$430,200$307,969$791,963
68$1,123,133$401,945$268,951$808,356
69$1,186,804$370,752$227,072$825,790
70$1,255,366$336,427$182,187$844,409
71$1,329,268$298,766$134,145$864,372
72$1,409,003$257,555$82,788$885,860
73$1,495,111$212,565$27,951$909,076
74$1,588,187$163,556$0$934,249
75$1,688,886$110,273$0$969,135
76$1,797,925$52,449$0$1,014,327
77$1,916,094$0$0$1,063,324
78$2,044,261$0$0$1,119,451
79$2,183,383$0$0$1,196,712
80$2,334,510$0$0$1,280,691
81$2,498,796$0$0$1,372,036
82$2,677,514$0$0$1,471,460
83$2,872,062$0$0$1,579,750
84$3,083,980$0$0$1,697,768
85$3,314,960$0$0$1,826,465
86$3,566,868$0$0$1,966,889
87$3,841,755$0$0$2,120,192
88$4,141,878$0$0$2,287,640
89$4,469,724$0$0$2,470,630
90$4,828,030$0$0$2,670,700
91$5,219,809$0$0$2,889,541
92$5,648,377$0$0$3,129,016
93$6,117,388$0$0$3,391,177
94$6,630,864$0$0$3,678,283
95$7,193,234$0$0$3,992,821
96$7,809,375$0$0$4,337,532
97$8,484,660$0$0$4,715,434
98$9,225,003$0$0$5,129,848
99$10,036,921$0$0$5,584,436
100$10,927,589$0$0$6,083,230