Can I retire at age 56 with 572,000?

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 $572,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$47,235$46,814$46,404$46,003$45,612$44,170
2 years$23,384$22,948$22,526$22,117$21,720$20,280
3 years$15,434$14,997$14,576$14,171$13,780$12,387
4 years$11,460$11,024$10,608$10,209$9,828$8,494
5 years$9,077$8,643$8,232$7,842$7,471$6,198
6 years$7,488$7,058$6,653$6,271$5,912$4,702
7 years$6,354$5,927$5,528$5,156$4,808$3,660
8 years$5,503$5,081$4,688$4,325$3,989$2,903
9 years$4,842$4,424$4,038$3,684$3,359$2,334
10 years$4,314$3,899$3,521$3,176$2,862$1,896
11 years$3,882$3,471$3,099$2,764$2,461$1,553
12 years$3,522$3,116$2,751$2,424$2,133$1,280
13 years$3,218$2,816$2,458$2,140$1,860$1,061
14 years$2,957$2,559$2,208$1,900$1,630$882
15 years$2,731$2,338$1,994$1,694$1,436$737
16 years$2,534$2,145$1,808$1,517$1,269$617
17 years$2,360$1,976$1,645$1,363$1,125$517
18 years$2,206$1,825$1,501$1,228$1,000$435
19 years$2,068$1,692$1,375$1,110$892$366
20 years$1,944$1,572$1,261$1,005$796$309
21 years$1,832$1,464$1,160$912$713$260
22 years$1,730$1,367$1,069$830$639$220
23 years$1,638$1,278$987$755$573$186
24 years$1,553$1,198$913$689$515$157
25 years$1,475$1,124$846$629$464$133
26 years$1,403$1,056$784$575$418$113
27 years$1,336$994$728$527$377$95
28 years$1,275$937$677$483$340$81
29 years$1,218$884$630$442$307$69
30 years$1,164$835$587$406$277$58
31 years$1,115$789$547$373$251$49
32 years$1,068$747$511$343$227$42
33 years$1,024$707$477$315$205$35
34 years$983$670$445$290$186$30
35 years$945$636$416$267$168$26
36 years$908$603$390$246$152$22
37 years$874$573$365$227$138$18
38 years$842$545$341$209$125$16
39 years$811$518$320$193$114$13
40 years$782$493$300$178$103$11
41 years$754$469$281$164$93$10
42 years$728$447$264$151$85$8
43 years$703$426$247$140$77$7
44 years$680$406$232$129$70$6
45 years$657$387$218$119$63$5
46 years$635$369$205$110$58$4
47 years$615$352$192$102$52$4
48 years$595$336$181$94$48$3
49 years$576$321$170$87$43$3
50 years$558$307$160$80$39$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $572,000, adding $6,889 every year, while hoping to spend $22,977 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: 67/14/19 Blend
55$572,000$572,000$572,000$572,000
56$637,450$607,134$598,268$676,718
57$678,023$612,436$593,863$709,161
58$721,963$617,228$588,540$741,326
59$769,592$621,461$582,244$775,942
60$821,259$625,081$574,918$813,250
61$877,351$628,034$566,501$853,515
62$938,293$630,259$556,931$897,029
63$1,004,551$631,694$546,141$944,116
64$1,076,641$632,272$534,061$995,131
65$1,155,126$631,922$520,621$1,050,467
66$1,240,630$630,567$505,743$1,110,558
67$1,333,838$628,128$489,348$1,175,883
68$1,435,502$624,520$471,354$1,246,968
69$1,546,453$619,651$451,675$1,324,396
70$1,667,604$613,426$430,218$1,408,811
71$1,799,960$605,744$406,891$1,500,919
72$1,944,627$596,497$381,593$1,601,504
73$2,102,824$585,571$354,221$1,711,428
74$2,275,892$572,844$324,668$1,831,642
75$2,465,308$558,188$292,820$1,963,196
76$2,672,699$541,469$258,559$2,107,247
77$2,899,856$522,543$221,762$2,265,074
78$3,148,751$501,257$182,300$2,438,085
79$3,421,556$477,450$140,040$2,627,834
80$3,720,663$450,954$94,840$2,836,034
81$4,048,708$421,588$46,554$3,064,577
82$4,408,592$389,162$0$3,315,546
83$4,803,513$353,475$0$3,592,251
84$5,236,990$314,315$0$3,906,356
85$5,712,903$271,456$0$4,251,243
86$6,235,524$224,662$0$4,630,032
87$6,809,560$173,682$0$5,046,161
88$7,440,194$118,252$0$5,503,419
89$8,133,139$58,092$0$6,005,981
90$8,894,686$0$0$6,558,451
91$9,731,769$0$0$7,166,992
92$10,652,023$0$0$7,845,874
93$11,663,863$0$0$8,592,360
94$12,776,559$0$0$9,413,292
95$14,000,324$0$0$10,316,212
96$15,346,410$0$0$11,309,426
97$16,827,216$0$0$12,402,089
98$18,456,401$0$0$13,604,285
99$20,249,017$0$0$14,927,126
100$22,221,647$0$0$16,382,856