Can I retire at age 56 with 567,000?

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 $567,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$46,822$46,405$45,998$45,601$45,213$43,540
2 years$23,179$22,748$22,329$21,924$21,530$19,863
3 years$15,299$14,866$14,449$14,047$13,660$12,051
4 years$11,360$10,928$10,515$10,120$9,742$8,205
5 years$8,997$8,568$8,160$7,773$7,406$5,944
6 years$7,423$6,996$6,594$6,216$5,860$4,474
7 years$6,298$5,875$5,480$5,111$4,766$3,455
8 years$5,455$5,036$4,647$4,287$3,954$2,718
9 years$4,800$4,385$4,003$3,652$3,330$2,167
10 years$4,276$3,865$3,490$3,148$2,837$1,745
11 years$3,848$3,441$3,072$2,740$2,440$1,416
12 years$3,491$3,088$2,727$2,403$2,114$1,157
13 years$3,189$2,791$2,436$2,121$1,844$949
14 years$2,931$2,537$2,189$1,883$1,616$782
15 years$2,708$2,318$1,976$1,679$1,423$646
16 years$2,512$2,126$1,792$1,504$1,258$535
17 years$2,340$1,958$1,630$1,351$1,115$445
18 years$2,187$1,809$1,488$1,218$992$370
19 years$2,050$1,677$1,363$1,100$884$308
20 years$1,927$1,558$1,250$996$789$257
21 years$1,816$1,452$1,150$904$706$214
22 years$1,715$1,355$1,060$822$633$179
23 years$1,623$1,267$979$749$568$150
24 years$1,539$1,187$905$683$511$125
25 years$1,462$1,114$838$624$460$105
26 years$1,391$1,047$778$570$414$88
27 years$1,325$986$722$522$373$74
28 years$1,264$929$671$478$337$62
29 years$1,207$876$625$439$304$52
30 years$1,154$827$582$403$275$43
31 years$1,105$782$542$370$249$36
32 years$1,059$740$506$340$225$30
33 years$1,015$701$473$312$203$25
34 years$975$664$442$287$184$21
35 years$937$630$413$265$167$18
36 years$901$598$386$244$151$15
37 years$867$568$361$225$137$13
38 years$834$540$338$207$124$11
39 years$804$513$317$191$113$9
40 years$775$488$297$176$102$7
41 years$748$465$279$162$93$6
42 years$722$443$261$150$84$5
43 years$697$422$245$138$76$4
44 years$674$402$230$128$69$4
45 years$651$383$216$118$63$3
46 years$630$366$203$109$57$3
47 years$610$349$191$101$52$2
48 years$590$333$179$93$47$2
49 years$571$318$169$86$43$2
50 years$554$304$158$79$39$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $567,000, adding $2,293 every year, while hoping to spend $23,329 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: 43/41/16 Blend
55$567,000$567,000$567,000$567,000
56$627,199$597,148$588,360$651,159
57$666,352$601,587$583,248$672,660
58$708,716$605,461$577,183$693,452
59$754,595$608,718$570,108$715,479
60$804,321$611,303$561,965$738,865
61$858,261$613,156$552,690$763,749
62$916,819$614,216$542,220$790,282
63$980,435$614,414$530,486$818,636
64$1,049,600$613,679$517,417$848,998
65$1,124,847$611,938$502,938$881,579
66$1,206,767$609,109$486,973$916,611
67$1,296,010$605,108$469,439$954,351
68$1,393,289$599,844$450,251$995,085
69$1,499,391$593,223$429,321$1,039,130
70$1,615,181$585,143$406,556$1,086,837
71$1,741,612$575,497$381,857$1,138,595
72$1,879,731$564,171$355,124$1,194,837
73$2,030,694$551,046$326,251$1,256,038
74$2,195,770$535,993$295,126$1,322,729
75$2,376,359$518,877$261,633$1,395,496
76$2,574,002$499,556$225,652$1,474,986
77$2,790,396$477,880$187,057$1,561,919
78$3,027,407$453,687$145,714$1,657,088
79$3,287,094$426,809$101,487$1,761,374
80$3,571,722$397,067$54,231$1,875,749
81$3,883,786$364,272$3,797$2,001,290
82$4,226,035$328,224$0$2,139,187
83$4,601,496$288,712$0$2,299,297
84$5,013,503$245,513$0$2,475,783
85$5,465,728$198,391$0$2,669,634
86$5,962,216$147,096$0$2,882,660
87$6,507,424$91,366$0$3,116,859
88$7,106,261$30,923$0$3,374,437
89$7,764,134$0$0$3,657,831
90$8,487,001$0$0$3,985,307
91$9,281,425$0$0$4,360,608
92$10,154,635$0$0$4,773,207
93$11,114,598$0$0$5,226,877
94$12,170,089$0$0$5,725,775
95$13,330,777$0$0$6,274,483
96$14,607,314$0$0$6,878,046
97$16,011,437$0$0$7,542,024
98$17,556,077$0$0$8,272,545
99$19,255,481$0$0$9,076,358
100$21,125,349$0$0$9,960,900