Can I retire at age 56 with 582,000?

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 $582,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$48,061$47,633$47,215$46,808$46,409$45,398
2 years$23,793$23,349$22,920$22,504$22,100$21,086
3 years$15,704$15,259$14,831$14,418$14,021$13,036
4 years$11,661$11,217$10,793$10,388$10,000$9,052
5 years$9,235$8,794$8,376$7,979$7,602$6,693
6 years$7,619$7,181$6,769$6,381$6,015$5,147
7 years$6,465$6,031$5,625$5,246$4,892$4,064
8 years$5,600$5,169$4,770$4,401$4,058$3,271
9 years$4,927$4,501$4,109$3,748$3,418$2,670
10 years$4,389$3,967$3,582$3,231$2,912$2,203
11 years$3,950$3,532$3,154$2,812$2,504$1,834
12 years$3,583$3,170$2,799$2,467$2,170$1,537
13 years$3,274$2,865$2,501$2,178$1,893$1,295
14 years$3,009$2,604$2,247$1,933$1,659$1,096
15 years$2,779$2,379$2,028$1,724$1,461$931
16 years$2,578$2,183$1,839$1,544$1,291$793
17 years$2,402$2,010$1,674$1,387$1,145$678
18 years$2,245$1,857$1,528$1,250$1,018$580
19 years$2,104$1,721$1,399$1,129$907$498
20 years$1,978$1,600$1,284$1,023$810$428
21 years$1,864$1,490$1,181$928$725$368
22 years$1,761$1,391$1,088$844$650$317
23 years$1,666$1,301$1,005$769$583$273
24 years$1,580$1,219$929$701$524$236
25 years$1,500$1,144$861$640$472$203
26 years$1,427$1,075$798$585$425$176
27 years$1,360$1,012$741$536$383$152
28 years$1,297$953$689$491$346$131
29 years$1,239$899$641$450$312$114
30 years$1,185$849$597$413$282$98
31 years$1,134$803$557$379$255$85
32 years$1,087$760$519$349$231$74
33 years$1,042$719$485$321$209$64
34 years$1,001$682$453$295$189$55
35 years$961$647$424$272$171$48
36 years$924$614$396$250$155$42
37 years$889$583$371$230$141$36
38 years$856$554$347$212$127$31
39 years$825$527$325$196$116$27
40 years$796$501$305$181$105$23
41 years$768$477$286$167$95$20
42 years$741$454$268$154$86$18
43 years$716$433$252$142$78$15
44 years$691$413$236$131$71$13
45 years$669$394$222$121$65$11
46 years$647$375$208$112$59$10
47 years$626$358$196$103$53$9
48 years$606$342$184$95$48$7
49 years$587$327$173$88$44$6
50 years$568$312$163$82$40$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $582,000, adding $4,645 every year, while hoping to spend $33,511 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: 69/19/12 Blend
55$582,000$582,000$582,000$582,000
56$646,155$615,309$606,288$688,752
57$676,408$609,804$590,944$712,140
58$708,623$602,906$573,962$733,249
59$742,965$594,511$555,252$755,466
60$779,615$584,510$534,721$778,895
61$818,771$572,786$512,269$803,650
62$860,650$559,216$487,794$829,860
63$905,488$543,670$461,187$857,666
64$953,547$526,009$432,336$887,224
65$1,005,113$506,088$401,124$918,709
66$1,060,499$483,750$367,426$952,312
67$1,120,049$458,834$331,114$988,248
68$1,184,143$431,165$292,054$1,026,753
69$1,253,193$400,560$250,106$1,068,088
70$1,327,658$366,826$205,124$1,112,543
71$1,408,037$329,759$156,953$1,160,440
72$1,494,881$289,141$105,435$1,212,135
73$1,588,794$244,744$50,403$1,268,021
74$1,690,442$196,328$0$1,328,534
75$1,800,555$143,636$0$1,395,222
76$1,919,937$86,399$0$1,474,511
77$2,049,471$24,333$0$1,560,554
78$2,190,129$0$0$1,654,031
79$2,342,980$0$0$1,764,652
80$2,509,200$0$0$1,890,509
81$2,690,082$0$0$2,027,499
82$2,887,049$0$0$2,176,703
83$3,101,669$0$0$2,339,311
84$3,335,664$0$0$2,516,634
85$3,590,932$0$0$2,710,113
86$3,869,561$0$0$2,921,335
87$4,173,849$0$0$3,152,048
88$4,506,327$0$0$3,404,175
89$4,869,780$0$0$3,679,833
90$5,267,275$0$0$3,981,355
91$5,702,189$0$0$4,311,306
92$6,178,240$0$0$4,672,513
93$6,699,523$0$0$5,068,089
94$7,270,546$0$0$5,501,462
95$7,896,276$0$0$5,976,406
96$8,582,180$0$0$6,497,080
97$9,334,282$0$0$7,068,060
98$10,159,214$0$0$7,694,392
99$11,064,284$0$0$8,381,630
100$12,057,540$0$0$9,135,891