Can I retire at age 56 with 566,000?

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 $566,000?

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$46,740$46,323$45,917$45,521$45,134$44,681
2 years$23,138$22,708$22,290$21,885$21,492$21,036
3 years$15,272$14,840$14,423$14,022$13,636$13,190
4 years$11,340$10,909$10,496$10,102$9,725$9,294
5 years$8,981$8,553$8,146$7,759$7,393$6,978
6 years$7,409$6,984$6,583$6,205$5,850$5,451
7 years$6,287$5,865$5,470$5,102$4,757$4,374
8 years$5,446$5,027$4,639$4,280$3,947$3,580
9 years$4,792$4,377$3,996$3,645$3,324$2,973
10 years$4,269$3,858$3,484$3,142$2,832$2,497
11 years$3,841$3,435$3,067$2,735$2,436$2,117
12 years$3,485$3,083$2,722$2,399$2,111$1,807
13 years$3,184$2,786$2,432$2,118$1,840$1,552
14 years$2,926$2,532$2,185$1,880$1,613$1,339
15 years$2,703$2,313$1,973$1,677$1,421$1,160
16 years$2,508$2,123$1,789$1,501$1,255$1,009
17 years$2,336$1,955$1,628$1,349$1,113$880
18 years$2,183$1,806$1,486$1,215$990$770
19 years$2,046$1,674$1,360$1,098$882$674
20 years$1,924$1,556$1,248$995$788$592
21 years$1,813$1,449$1,148$903$705$521
22 years$1,712$1,353$1,058$821$632$458
23 years$1,620$1,265$977$748$567$404
24 years$1,536$1,185$904$682$510$357
25 years$1,459$1,112$837$623$459$315
26 years$1,388$1,045$776$569$413$279
27 years$1,322$984$721$521$373$246
28 years$1,261$927$670$477$336$218
29 years$1,205$875$624$438$304$193
30 years$1,152$826$581$402$274$171
31 years$1,103$781$541$369$248$152
32 years$1,057$739$505$339$224$135
33 years$1,014$700$472$312$203$120
34 years$973$663$441$287$184$106
35 years$935$629$412$264$167$94
36 years$899$597$385$243$151$84
37 years$865$567$361$224$137$74
38 years$833$539$338$207$124$66
39 years$803$512$317$191$112$59
40 years$774$487$297$176$102$52
41 years$747$464$278$162$93$46
42 years$721$442$261$150$84$41
43 years$696$421$245$138$76$37
44 years$672$401$230$128$69$33
45 years$650$383$216$118$63$29
46 years$629$365$203$109$57$26
47 years$608$348$190$101$52$23
48 years$589$333$179$93$47$20
49 years$570$318$168$86$43$18
50 years$553$303$158$79$39$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $566,000, adding $3,645 every year, while hoping to spend $37,751 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: 51/43/6 Blend
55$566,000$566,000$566,000$566,000
56$627,492$597,494$588,721$658,399
57$651,329$586,604$568,276$668,915
58$676,333$573,916$545,881$675,950
59$702,582$559,301$521,431$682,692
60$730,162$542,623$494,816$689,121
61$759,166$523,739$465,920$695,216
62$789,697$502,498$434,624$700,961
63$821,864$478,739$400,802$706,336
64$855,788$452,291$364,323$711,325
65$891,601$422,976$325,050$715,911
66$929,444$390,602$282,840$720,082
67$969,476$354,969$237,543$723,824
68$1,011,865$315,866$189,003$727,129
69$1,056,798$273,066$137,058$729,989
70$1,104,478$226,333$81,537$732,402
71$1,155,129$175,417$22,262$734,368
72$1,208,993$120,053$0$735,894
73$1,266,336$59,962$0$739,616
74$1,327,449$0$0$744,620
75$1,392,653$0$0$751,954
76$1,462,296$0$0$790,127
77$1,536,762$0$0$830,979
78$1,616,471$0$0$874,747
79$1,701,884$0$0$921,688
80$1,793,505$0$0$972,084
81$1,891,890$0$0$1,026,247
82$1,997,646$0$0$1,084,518
83$2,111,443$0$0$1,147,271
84$2,234,012$0$0$1,214,916
85$2,366,161$0$0$1,287,906
86$2,508,773$0$0$1,366,737
87$2,662,822$0$0$1,451,953
88$2,829,376$0$0$1,544,154
89$3,009,609$0$0$1,644,000
90$3,204,812$0$0$1,752,213
91$3,416,406$0$0$1,869,590
92$3,645,949$0$0$1,997,008
93$3,895,160$0$0$2,135,428
94$4,165,926$0$0$2,285,912
95$4,460,325$0$0$2,449,624
96$4,780,640$0$0$2,627,847
97$5,129,386$0$0$2,821,992
98$5,509,330$0$0$3,033,612
99$5,923,516$0$0$3,264,416
100$6,375,294$0$0$3,516,285