Can I retire at age 56 with 571,000?

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 $571,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$47,153$46,733$46,323$45,923$45,532$45,321
2 years$23,343$22,908$22,487$22,078$21,682$21,469
3 years$15,407$14,971$14,550$14,146$13,756$13,548
4 years$11,440$11,005$10,589$10,191$9,811$9,609
5 years$9,061$8,628$8,218$7,828$7,458$7,263
6 years$7,475$7,046$6,641$6,260$5,901$5,713
7 years$6,343$5,917$5,519$5,147$4,799$4,618
8 years$5,494$5,072$4,680$4,317$3,982$3,808
9 years$4,834$4,416$4,031$3,677$3,353$3,186
10 years$4,306$3,892$3,514$3,170$2,857$2,697
11 years$3,875$3,465$3,094$2,759$2,457$2,304
12 years$3,516$3,110$2,746$2,420$2,129$1,983
13 years$3,212$2,811$2,453$2,136$1,857$1,718
14 years$2,952$2,555$2,204$1,896$1,628$1,495
15 years$2,727$2,334$1,990$1,691$1,433$1,307
16 years$2,530$2,141$1,804$1,514$1,267$1,146
17 years$2,356$1,972$1,642$1,361$1,123$1,009
18 years$2,202$1,822$1,499$1,226$999$890
19 years$2,064$1,689$1,372$1,108$890$787
20 years$1,941$1,569$1,259$1,004$795$698
21 years$1,829$1,462$1,158$911$711$620
22 years$1,727$1,365$1,068$828$638$551
23 years$1,635$1,276$986$754$572$490
24 years$1,550$1,196$912$688$515$437
25 years$1,472$1,122$844$628$463$390
26 years$1,400$1,055$783$574$417$348
27 years$1,334$993$727$526$376$311
28 years$1,273$935$676$482$339$279
29 years$1,216$882$629$442$306$249
30 years$1,162$833$586$405$277$223
31 years$1,113$788$546$372$250$200
32 years$1,066$745$510$342$226$179
33 years$1,023$706$476$315$205$161
34 years$982$669$445$290$185$144
35 years$943$635$416$267$168$130
36 years$907$602$389$245$152$116
37 years$873$572$364$226$138$105
38 years$840$544$341$208$125$94
39 years$810$517$319$192$113$84
40 years$781$492$299$177$103$76
41 years$753$468$281$164$93$68
42 years$727$446$263$151$85$61
43 years$702$425$247$139$77$55
44 years$678$405$232$129$70$49
45 years$656$386$218$119$63$44
46 years$634$368$205$110$58$40
47 years$614$352$192$101$52$36
48 years$594$336$181$94$47$32
49 years$575$320$170$87$43$29
50 years$557$306$160$80$39$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $571,000, adding $2,715 every year, while hoping to spend $35,801 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: 46/31/23 Blend
55$571,000$571,000$571,000$571,000
56$632,043$601,780$592,929$656,834
57$658,419$593,175$574,700$665,929
58$686,286$582,948$554,661$672,050
59$715,757$570,983$532,712$677,968
60$746,958$557,155$508,752$683,681
61$780,025$541,333$482,672$689,190
62$815,106$523,376$454,360$694,499
63$852,364$503,139$423,698$699,615
64$891,977$480,465$390,564$704,547
65$934,140$455,189$354,829$709,310
66$979,065$427,137$316,359$713,924
67$1,026,987$396,123$275,014$718,414
68$1,078,161$361,954$230,648$722,812
69$1,132,867$324,423$183,108$727,156
70$1,191,411$283,312$132,235$731,493
71$1,254,132$238,391$77,861$735,880
72$1,321,397$189,417$19,814$740,384
73$1,393,613$136,132$0$745,082
74$1,471,225$78,265$0$760,409
75$1,554,720$15,530$0$781,992
76$1,644,634$0$0$805,137
77$1,741,556$0$0$847,905
78$1,846,134$0$0$899,817
79$1,959,077$0$0$955,935
80$2,081,166$0$0$1,016,654
81$2,213,259$0$0$1,082,408
82$2,356,300$0$0$1,153,673
83$2,511,326$0$0$1,230,974
84$2,679,478$0$0$1,314,888
85$2,862,008$0$0$1,406,049
86$3,060,297$0$0$1,505,156
87$3,275,862$0$0$1,612,976
88$3,510,373$0$0$1,730,354
89$3,765,665$0$0$1,858,219
90$4,043,760$0$0$1,997,595
91$4,346,881$0$0$2,149,606
92$4,677,476$0$0$2,315,494
93$5,038,240$0$0$2,496,620
94$5,432,136$0$0$2,694,487
95$5,862,430$0$0$2,910,748
96$6,332,715$0$0$3,147,222
97$6,846,947$0$0$3,405,913
98$7,409,481$0$0$3,689,027
99$8,025,115$0$0$3,998,994
100$8,699,129$0$0$4,338,489