Can I retire at age 56 with 568,000?

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 $568,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$46,905$46,487$46,079$45,682$45,293$44,989
2 years$23,220$22,788$22,369$21,962$21,568$21,261
3 years$15,326$14,892$14,474$14,071$13,684$13,384
4 years$11,380$10,947$10,533$10,138$9,759$9,469
5 years$9,013$8,583$8,174$7,787$7,419$7,138
6 years$7,436$7,008$6,606$6,227$5,870$5,600
7 years$6,309$5,886$5,490$5,120$4,774$4,514
8 years$5,465$5,045$4,656$4,295$3,961$3,711
9 years$4,808$4,393$4,010$3,658$3,335$3,097
10 years$4,284$3,872$3,496$3,153$2,842$2,614
11 years$3,855$3,447$3,078$2,744$2,444$2,226
12 years$3,497$3,094$2,731$2,407$2,118$1,910
13 years$3,195$2,796$2,440$2,125$1,847$1,649
14 years$2,936$2,541$2,193$1,887$1,619$1,430
15 years$2,712$2,322$1,980$1,682$1,426$1,246
16 years$2,516$2,130$1,795$1,506$1,260$1,090
17 years$2,344$1,962$1,633$1,354$1,117$956
18 years$2,191$1,813$1,491$1,220$993$840
19 years$2,054$1,680$1,365$1,102$885$741
20 years$1,930$1,561$1,253$998$791$654
21 years$1,819$1,454$1,152$906$708$578
22 years$1,718$1,357$1,062$824$634$512
23 years$1,626$1,270$981$750$569$455
24 years$1,542$1,189$907$684$512$404
25 years$1,464$1,116$840$625$461$359
26 years$1,393$1,049$779$571$415$319
27 years$1,327$987$723$523$374$284
28 years$1,266$930$672$479$337$253
29 years$1,209$878$626$439$305$226
30 years$1,156$829$583$403$275$201
31 years$1,107$784$543$370$249$180
32 years$1,061$741$507$340$225$160
33 years$1,017$702$473$313$204$143
34 years$976$665$442$288$185$128
35 years$938$631$414$265$167$114
36 years$902$599$387$244$151$102
37 years$868$569$362$225$137$92
38 years$836$541$339$207$124$82
39 years$805$514$318$191$113$73
40 years$777$489$298$176$102$66
41 years$749$466$279$163$93$59
42 years$723$443$262$150$84$52
43 years$698$423$246$139$76$47
44 years$675$403$231$128$69$42
45 years$652$384$217$118$63$38
46 years$631$366$203$109$57$34
47 years$611$350$191$101$52$30
48 years$591$334$180$93$47$27
49 years$572$319$169$86$43$24
50 years$555$304$159$80$39$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $568,000, adding $3,510 every year, while hoping to spend $34,134 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: 43/36/21 Blend
55$568,000$568,000$568,000$568,000
56$629,557$599,453$590,649$652,642
57$657,453$592,507$574,117$662,388
58$687,051$584,078$555,888$669,352
59$718,488$574,055$535,867$676,199
60$751,914$562,324$513,959$682,937
61$787,494$548,763$490,062$689,575
62$825,408$533,242$464,068$696,127
63$865,853$515,625$435,868$702,611
64$909,046$495,766$405,346$709,048
65$955,223$473,513$372,379$715,469
66$1,004,644$448,703$336,842$721,906
67$1,057,593$421,165$298,602$728,401
68$1,114,383$390,718$257,521$735,005
69$1,175,357$357,170$213,454$741,775
70$1,240,890$320,318$166,252$748,781
71$1,311,396$279,948$115,756$756,103
72$1,387,326$235,834$61,802$763,836
73$1,469,181$187,737$4,219$772,087
74$1,557,505$135,404$0$780,982
75$1,652,900$78,568$0$803,488
76$1,756,026$16,948$0$828,788
77$1,867,608$0$0$856,167
78$1,988,445$0$0$905,594
79$2,119,413$0$0$966,500
80$2,261,476$0$0$1,032,627
81$2,415,695$0$0$1,104,477
82$2,583,235$0$0$1,182,601
83$2,765,381$0$0$1,267,605
84$2,963,544$0$0$1,360,158
85$3,179,276$0$0$1,460,995
86$3,414,286$0$0$1,570,922
87$3,670,456$0$0$1,690,831
88$3,949,854$0$0$1,821,700
89$4,254,758$0$0$1,964,608
90$4,587,676$0$0$2,120,741
91$4,951,368$0$0$2,291,405
92$5,348,873$0$0$2,478,039
93$5,783,536$0$0$2,682,226
94$6,259,040$0$0$2,905,710
95$6,779,442$0$0$3,150,411
96$7,349,207$0$0$3,418,444
97$7,973,254$0$0$3,712,137
98$8,656,998$0$0$4,034,055
99$9,406,403$0$0$4,387,022
100$10,228,039$0$0$4,774,148