Can I retire at age 56 with 573,000?

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 $573,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$47,318$46,896$46,485$46,084$45,692$44,336
2 years$23,425$22,988$22,566$22,156$21,758$20,403
3 years$15,461$15,023$14,601$14,195$13,804$12,493
4 years$11,480$11,044$10,626$10,227$9,845$8,587
5 years$9,093$8,658$8,246$7,855$7,484$6,283
6 years$7,501$7,070$6,664$6,282$5,922$4,779
7 years$6,365$5,938$5,538$5,165$4,816$3,731
8 years$5,513$5,090$4,697$4,333$3,995$2,968
9 years$4,851$4,431$4,045$3,690$3,365$2,394
10 years$4,321$3,906$3,527$3,181$2,867$1,951
11 years$3,888$3,477$3,105$2,769$2,466$1,603
12 years$3,528$3,121$2,755$2,428$2,137$1,326
13 years$3,223$2,821$2,462$2,144$1,863$1,102
14 years$2,962$2,564$2,212$1,903$1,633$920
15 years$2,736$2,342$1,997$1,697$1,438$771
16 years$2,539$2,149$1,811$1,520$1,271$647
17 years$2,364$1,979$1,648$1,365$1,127$545
18 years$2,210$1,829$1,504$1,231$1,002$460
19 years$2,072$1,695$1,377$1,112$893$389
20 years$1,947$1,575$1,264$1,007$798$329
21 years$1,835$1,467$1,162$914$714$279
22 years$1,733$1,369$1,071$831$640$236
23 years$1,640$1,281$989$757$574$201
24 years$1,555$1,200$915$690$516$170
25 years$1,477$1,126$847$630$465$145
26 years$1,405$1,058$786$576$418$123
27 years$1,339$996$730$528$377$105
28 years$1,277$939$678$483$340$89
29 years$1,220$885$631$443$307$76
30 years$1,166$836$588$407$278$64
31 years$1,117$790$548$374$251$55
32 years$1,070$748$511$343$227$47
33 years$1,026$708$478$316$206$40
34 years$985$671$446$291$186$34
35 years$946$637$417$267$169$29
36 years$910$604$390$246$153$25
37 years$876$574$365$227$138$21
38 years$843$545$342$209$126$18
39 years$813$519$320$193$114$15
40 years$783$494$300$178$103$13
41 years$756$470$282$164$94$11
42 years$730$447$264$151$85$9
43 years$705$426$248$140$77$8
44 years$681$406$233$129$70$7
45 years$658$387$219$119$64$6
46 years$637$370$205$110$58$5
47 years$616$353$193$102$52$4
48 years$596$337$181$94$48$4
49 years$577$322$170$87$43$3
50 years$559$307$160$80$39$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $573,000, adding $6,862 every year, while hoping to spend $41,070 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: 74/13/13 Blend
55$573,000$573,000$573,000$573,000
56$638,524$608,155$599,274$683,543
57$659,955$594,257$575,651$700,328
58$682,196$578,301$549,861$712,942
59$705,286$560,143$521,787$725,646
60$729,266$539,631$491,307$738,435
61$754,181$516,603$458,296$751,308
62$780,080$490,888$422,621$764,262
63$807,012$462,306$384,144$777,296
64$835,034$430,666$342,719$790,410
65$864,204$395,765$298,196$803,603
66$894,585$357,389$250,418$816,878
67$926,245$315,314$199,219$830,236
68$959,257$269,300$144,429$843,683
69$993,701$219,095$85,866$857,223
70$1,029,660$164,432$23,345$870,865
71$1,067,228$105,032$0$884,620
72$1,106,502$40,596$0$904,516
73$1,147,591$0$0$928,401
74$1,190,610$0$0$957,257
75$1,235,684$0$0$993,584
76$1,282,951$0$0$1,031,685
77$1,332,557$0$0$1,071,681
78$1,384,664$0$0$1,113,700
79$1,439,445$0$0$1,157,886
80$1,497,091$0$0$1,204,393
81$1,557,808$0$0$1,253,388
82$1,621,820$0$0$1,305,054
83$1,689,373$0$0$1,359,590
84$1,760,732$0$0$1,417,214
85$1,836,191$0$0$1,478,162
86$1,916,066$0$0$1,542,693
87$2,000,705$0$0$1,611,090
88$2,090,486$0$0$1,683,661
89$2,185,825$0$0$1,760,744
90$2,287,176$0$0$1,842,708
91$2,395,033$0$0$1,929,956
92$2,509,941$0$0$2,022,932
93$2,632,493$0$0$2,122,119
94$2,763,342$0$0$2,228,048
95$2,903,201$0$0$2,341,300
96$3,052,853$0$0$2,462,513
97$3,213,155$0$0$2,592,385
98$3,385,048$0$0$2,731,682
99$3,569,566$0$0$2,881,247
100$3,767,841$0$0$3,042,001