Can I retire at age 56 with 574,000?

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 $574,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$47,400$46,978$46,566$46,164$45,772$45,312
2 years$23,466$23,029$22,605$22,194$21,796$21,334
3 years$15,488$15,049$14,627$14,220$13,828$13,377
4 years$11,500$11,063$10,645$10,245$9,862$9,426
5 years$9,108$8,673$8,261$7,869$7,497$7,076
6 years$7,514$7,083$6,676$6,293$5,932$5,528
7 years$6,376$5,948$5,548$5,174$4,825$4,436
8 years$5,523$5,098$4,705$4,340$4,002$3,631
9 years$4,859$4,439$4,052$3,697$3,371$3,015
10 years$4,329$3,913$3,533$3,187$2,872$2,533
11 years$3,895$3,483$3,110$2,773$2,470$2,146
12 years$3,534$3,126$2,760$2,433$2,140$1,832
13 years$3,229$2,825$2,466$2,148$1,866$1,574
14 years$2,967$2,568$2,216$1,906$1,636$1,358
15 years$2,741$2,346$2,001$1,700$1,441$1,177
16 years$2,543$2,153$1,814$1,522$1,273$1,023
17 years$2,369$1,982$1,651$1,368$1,129$893
18 years$2,214$1,832$1,507$1,233$1,004$780
19 years$2,075$1,698$1,379$1,114$895$684
20 years$1,951$1,578$1,266$1,009$799$600
21 years$1,838$1,469$1,164$916$715$528
22 years$1,736$1,372$1,073$832$641$465
23 years$1,643$1,283$991$758$575$410
24 years$1,558$1,202$916$691$517$362
25 years$1,480$1,128$849$631$465$320
26 years$1,408$1,060$787$577$419$283
27 years$1,341$998$731$528$378$250
28 years$1,279$940$680$484$341$221
29 years$1,222$887$632$444$308$196
30 years$1,168$838$589$408$278$174
31 years$1,118$792$549$374$252$154
32 years$1,072$749$512$344$228$137
33 years$1,028$710$478$316$206$121
34 years$987$672$447$291$186$108
35 years$948$638$418$268$169$96
36 years$912$605$391$247$153$85
37 years$877$575$366$227$139$75
38 years$845$546$343$210$126$67
39 years$814$520$321$193$114$59
40 years$785$494$301$178$103$53
41 years$757$471$282$164$94$47
42 years$731$448$265$152$85$42
43 years$706$427$248$140$77$37
44 years$682$407$233$129$70$33
45 years$659$388$219$119$64$29
46 years$638$370$206$110$58$26
47 years$617$353$193$102$52$23
48 years$597$337$181$94$48$21
49 years$578$322$171$87$43$18
50 years$560$308$160$80$39$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $574,000, adding $6,622 every year, while hoping to spend $43,268 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: 63/14/23 Blend
55$574,000$574,000$574,000$574,000
56$639,379$608,957$600,060$675,425
57$658,558$592,759$574,125$684,364
58$678,244$574,317$545,871$688,722
59$698,442$553,476$515,175$692,505
60$719,158$530,070$481,907$695,663
61$740,395$503,926$445,934$698,142
62$762,156$474,860$407,114$699,883
63$784,443$442,675$365,300$700,823
64$807,257$407,167$320,338$700,898
65$830,597$368,117$272,068$700,034
66$854,458$325,296$220,323$698,158
67$878,836$278,458$164,927$695,188
68$903,723$227,349$105,698$691,037
69$929,109$171,695$42,445$685,613
70$954,981$111,210$0$678,818
71$981,321$45,592$0$676,696
72$1,008,109$0$0$684,500
73$1,035,320$0$0$695,662
74$1,062,925$0$0$714,099
75$1,090,888$0$0$732,762
76$1,119,170$0$0$751,622
77$1,147,722$0$0$770,645
78$1,176,490$0$0$789,793
79$1,205,411$0$0$809,021
80$1,234,412$0$0$828,279
81$1,263,413$0$0$847,508
82$1,292,319$0$0$866,643
83$1,321,024$0$0$885,609
84$1,349,409$0$0$904,323
85$1,377,340$0$0$922,689
86$1,404,663$0$0$940,602
87$1,431,209$0$0$957,942
88$1,456,785$0$0$974,575
89$1,481,178$0$0$990,350
90$1,504,146$0$0$1,005,099
91$1,525,421$0$0$1,018,636
92$1,544,704$0$0$1,030,751
93$1,561,660$0$0$1,041,210
94$1,575,916$0$0$1,049,753
95$1,587,058$0$0$1,056,092
96$1,594,624$0$0$1,059,904
97$1,598,100$0$0$1,060,831
98$1,596,918$0$0$1,058,477
99$1,590,443$0$0$1,052,400
100$1,577,972$0$0$1,042,111