Can I retire at age 56 with 578,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%11.6%
1 years$47,731$47,306$46,891$46,486$46,091$45,781
2 years$23,629$23,189$22,762$22,349$21,948$21,636
3 years$15,596$15,154$14,729$14,319$13,925$13,619
4 years$11,581$11,140$10,719$10,316$9,931$9,635
5 years$9,172$8,734$8,318$7,924$7,550$7,264
6 years$7,567$7,132$6,722$6,337$5,974$5,699
7 years$6,420$5,989$5,586$5,210$4,858$4,594
8 years$5,561$5,134$4,738$4,370$4,030$3,777
9 years$4,893$4,470$4,081$3,723$3,394$3,151
10 years$4,359$3,940$3,558$3,209$2,892$2,660
11 years$3,922$3,508$3,132$2,793$2,487$2,265
12 years$3,559$3,148$2,780$2,450$2,155$1,944
13 years$3,251$2,845$2,483$2,163$1,880$1,678
14 years$2,988$2,586$2,231$1,920$1,648$1,456
15 years$2,760$2,362$2,015$1,712$1,451$1,268
16 years$2,561$2,168$1,826$1,533$1,282$1,109
17 years$2,385$1,996$1,662$1,377$1,137$972
18 years$2,229$1,845$1,517$1,241$1,011$855
19 years$2,090$1,710$1,389$1,122$901$754
20 years$1,964$1,589$1,275$1,016$805$665
21 years$1,851$1,480$1,172$922$720$589
22 years$1,748$1,381$1,081$838$646$521
23 years$1,655$1,292$998$763$579$463
24 years$1,569$1,210$923$696$521$411
25 years$1,490$1,136$855$636$469$365
26 years$1,418$1,068$793$581$422$325
27 years$1,350$1,005$736$532$381$289
28 years$1,288$947$684$488$343$258
29 years$1,230$893$637$447$310$230
30 years$1,177$843$593$410$280$205
31 years$1,126$797$553$377$253$183
32 years$1,079$754$516$346$229$163
33 years$1,035$714$482$319$207$146
34 years$994$677$450$293$188$130
35 years$955$642$421$270$170$116
36 years$918$610$394$248$154$104
37 years$883$579$368$229$140$93
38 years$851$550$345$211$127$83
39 years$820$523$323$195$115$75
40 years$790$498$303$179$104$67
41 years$762$474$284$166$94$60
42 years$736$451$266$153$86$53
43 years$711$430$250$141$78$48
44 years$687$410$235$130$71$43
45 years$664$391$220$120$64$38
46 years$642$373$207$111$58$34
47 years$621$356$194$103$53$31
48 years$601$340$183$95$48$28
49 years$583$324$172$88$44$25
50 years$564$310$162$81$40$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $578,000, adding $6,970 every year, while hoping to spend $26,701 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: 48/42/10 Blend
55$578,000$578,000$578,000$578,000
56$644,146$613,512$604,553$672,985
57$681,439$615,164$596,395$695,191
58$721,641$616,002$587,070$715,927
59$765,021$615,959$576,509$737,830
60$811,873$614,961$564,643$761,016
61$862,522$612,932$551,396$785,616
62$917,324$609,791$536,693$811,775
63$976,671$605,450$520,452$839,652
64$1,040,993$599,819$502,589$869,428
65$1,110,765$592,801$483,016$901,300
66$1,186,506$584,291$461,640$935,489
67$1,268,790$574,181$438,365$972,241
68$1,358,246$562,356$413,090$1,011,826
69$1,455,568$548,693$385,710$1,054,548
70$1,561,519$533,061$356,114$1,100,741
71$1,676,937$515,325$324,187$1,150,776
72$1,802,747$495,337$289,809$1,205,066
73$1,939,964$472,946$252,854$1,264,068
74$2,089,707$447,987$213,192$1,328,287
75$2,253,208$420,289$170,685$1,398,287
76$2,431,822$389,670$125,189$1,474,689
77$2,627,042$355,938$76,557$1,558,182
78$2,840,510$318,888$24,631$1,649,529
79$3,074,035$278,307$0$1,749,577
80$3,329,609$233,967$0$1,862,545
81$3,609,425$185,628$0$1,989,204
82$3,915,899$133,036$0$2,128,088
83$4,251,690$75,924$0$2,280,487
84$4,619,728$14,009$0$2,447,824
85$5,023,238$0$0$2,631,676
86$5,465,773$0$0$2,858,280
87$5,951,247$0$0$3,114,040
88$6,483,970$0$0$3,394,761
89$7,068,690$0$0$3,702,952
90$7,710,638$0$0$4,041,379
91$8,415,574$0$0$4,413,089
92$9,189,844$0$0$4,821,437
93$10,040,441$0$0$5,270,120
94$10,975,065$0$0$5,763,212
95$12,002,201$0$0$6,305,198
96$13,131,197$0$0$6,901,022
97$14,372,351$0$0$7,556,130
98$15,737,009$0$0$8,276,521
99$17,237,670$0$0$9,068,808
100$18,888,106$0$0$9,940,272