Can I retire at age 56 with 578,000?

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 $578,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$47,731$47,306$46,891$46,486$46,091$45,383
2 years$23,629$23,189$22,762$22,349$21,948$21,237
3 years$15,596$15,154$14,729$14,319$13,925$13,232
4 years$11,581$11,140$10,719$10,316$9,931$9,263
5 years$9,172$8,734$8,318$7,924$7,550$6,907
6 years$7,567$7,132$6,722$6,337$5,974$5,357
7 years$6,420$5,989$5,586$5,210$4,858$4,269
8 years$5,561$5,134$4,738$4,370$4,030$3,467
9 years$4,893$4,470$4,081$3,723$3,394$2,858
10 years$4,359$3,940$3,558$3,209$2,892$2,381
11 years$3,922$3,508$3,132$2,793$2,487$2,002
12 years$3,559$3,148$2,780$2,450$2,155$1,695
13 years$3,251$2,845$2,483$2,163$1,880$1,443
14 years$2,988$2,586$2,231$1,920$1,648$1,235
15 years$2,760$2,362$2,015$1,712$1,451$1,061
16 years$2,561$2,168$1,826$1,533$1,282$914
17 years$2,385$1,996$1,662$1,377$1,137$790
18 years$2,229$1,845$1,517$1,241$1,011$684
19 years$2,090$1,710$1,389$1,122$901$594
20 years$1,964$1,589$1,275$1,016$805$516
21 years$1,851$1,480$1,172$922$720$450
22 years$1,748$1,381$1,081$838$646$392
23 years$1,655$1,292$998$763$579$342
24 years$1,569$1,210$923$696$521$299
25 years$1,490$1,136$855$636$469$262
26 years$1,418$1,068$793$581$422$229
27 years$1,350$1,005$736$532$381$200
28 years$1,288$947$684$488$343$176
29 years$1,230$893$637$447$310$154
30 years$1,177$843$593$410$280$135
31 years$1,126$797$553$377$253$118
32 years$1,079$754$516$346$229$104
33 years$1,035$714$482$319$207$91
34 years$994$677$450$293$188$80
35 years$955$642$421$270$170$70
36 years$918$610$394$248$154$62
37 years$883$579$368$229$140$54
38 years$851$550$345$211$127$48
39 years$820$523$323$195$115$42
40 years$790$498$303$179$104$37
41 years$762$474$284$166$94$32
42 years$736$451$266$153$86$28
43 years$711$430$250$141$78$25
44 years$687$410$235$130$71$22
45 years$664$391$220$120$64$19
46 years$642$373$207$111$58$17
47 years$621$356$194$103$53$15
48 years$601$340$183$95$48$13
49 years$583$324$172$88$44$12
50 years$564$310$162$81$40$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $578,000, adding $5,293 every year, while hoping to spend $37,222 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: 33/39/28 Blend
55$578,000$578,000$578,000$578,000
56$642,416$611,782$602,823$658,012
57$668,338$602,155$583,413$660,685
58$695,657$590,809$562,106$659,890
59$724,476$577,621$538,799$658,310
60$754,907$562,458$513,383$655,901
61$787,073$545,184$485,746$652,619
62$821,107$525,651$455,772$648,418
63$857,156$503,704$423,336$643,254
64$895,379$479,179$388,311$637,078
65$935,952$451,902$350,563$629,846
66$979,063$421,690$309,952$621,512
67$1,024,923$388,348$266,331$612,028
68$1,073,760$351,672$219,547$601,350
69$1,125,823$311,443$169,441$589,435
70$1,181,386$267,434$115,847$576,240
71$1,240,750$219,400$58,591$561,725
72$1,304,243$167,088$0$545,851
73$1,372,226$110,225$0$529,337
74$1,445,095$48,527$0$530,129
75$1,523,282$0$0$530,740
76$1,607,264$0$0$539,068
77$1,697,563$0$0$570,475
78$1,794,754$0$0$604,343
79$1,899,464$0$0$640,899
80$2,012,388$0$0$680,394
81$2,134,283$0$0$723,103
82$2,265,986$0$0$769,327
83$2,408,413$0$0$819,398
84$2,562,574$0$0$873,682
85$2,729,578$0$0$932,581
86$2,910,642$0$0$996,535
87$3,107,109$0$0$1,066,031
88$3,320,452$0$0$1,141,602
89$3,552,293$0$0$1,223,837
90$3,804,417$0$0$1,313,383
91$4,078,785$0$0$1,410,951
92$4,377,558$0$0$1,517,324
93$4,703,112$0$0$1,633,364
94$5,058,063$0$0$1,760,021
95$5,445,288$0$0$1,898,338
96$5,867,956$0$0$2,049,466
97$6,329,555$0$0$2,214,670
98$6,833,923$0$0$2,395,344
99$7,385,288$0$0$2,593,022
100$7,988,303$0$0$2,809,394