Can I retire at age 56 with 592,000?

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 $592,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$48,887$48,451$48,026$47,612$47,207$45,972
2 years$24,201$23,751$23,314$22,890$22,479$21,244
3 years$15,974$15,521$15,086$14,666$14,262$13,064
4 years$11,861$11,410$10,978$10,566$10,172$9,021
5 years$9,394$8,945$8,520$8,116$7,732$6,632
6 years$7,750$7,305$6,885$6,490$6,118$5,069
7 years$6,576$6,134$5,722$5,336$4,976$3,978
8 years$5,696$5,258$4,852$4,476$4,128$3,181
9 years$5,012$4,578$4,179$3,813$3,476$2,580
10 years$4,465$4,036$3,644$3,287$2,962$2,114
11 years$4,017$3,593$3,208$2,860$2,547$1,747
12 years$3,645$3,225$2,847$2,509$2,208$1,454
13 years$3,330$2,914$2,543$2,215$1,925$1,216
14 years$3,060$2,649$2,285$1,966$1,687$1,021
15 years$2,827$2,420$2,063$1,754$1,486$861
16 years$2,623$2,220$1,871$1,570$1,313$728
17 years$2,443$2,045$1,702$1,411$1,164$617
18 years$2,283$1,889$1,554$1,271$1,035$524
19 years$2,140$1,751$1,423$1,149$923$446
20 years$2,012$1,627$1,306$1,040$824$380
21 years$1,896$1,516$1,201$944$738$324
22 years$1,791$1,415$1,107$859$661$277
23 years$1,695$1,323$1,022$782$593$237
24 years$1,607$1,240$945$713$533$202
25 years$1,526$1,163$875$651$480$173
26 years$1,452$1,093$812$595$432$148
27 years$1,383$1,029$754$545$390$127
28 years$1,319$970$701$499$352$109
29 years$1,260$915$652$458$318$93
30 years$1,205$864$607$420$287$80
31 years$1,154$817$566$386$259$69
32 years$1,105$773$528$355$235$59
33 years$1,060$732$493$326$212$51
34 years$1,018$694$461$300$192$43
35 years$978$658$431$276$174$37
36 years$940$624$403$254$158$32
37 years$905$593$377$234$143$27
38 years$871$564$353$216$130$24
39 years$839$536$331$199$118$20
40 years$809$510$310$184$107$17
41 years$781$485$291$170$97$15
42 years$754$462$273$156$88$13
43 years$728$440$256$144$80$11
44 years$703$420$240$133$72$9
45 years$680$400$226$123$66$8
46 years$658$382$212$114$60$7
47 years$636$364$199$105$54$6
48 years$616$348$187$97$49$5
49 years$597$332$176$90$45$4
50 years$578$317$165$83$41$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $592,000, adding $4,977 every year, while hoping to spend $24,452 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: 48/46/6 Blend
55$592,000$592,000$592,000$592,000
56$657,518$626,142$616,966$687,820
57$698,568$630,806$611,617$713,742
58$742,986$634,879$605,270$738,870
59$791,088$638,307$597,865$765,571
60$843,226$641,030$589,340$793,999
61$899,782$642,988$579,630$824,324
62$961,179$644,113$568,667$856,732
63$1,027,881$644,337$556,379$891,431
64$1,100,400$643,585$542,693$928,652
65$1,179,298$641,777$527,530$968,648
66$1,265,193$638,831$510,809$1,011,701
67$1,358,766$634,656$492,444$1,058,124
68$1,460,765$629,160$472,347$1,108,262
69$1,572,016$622,242$450,423$1,162,496
70$1,693,426$613,796$426,576$1,221,250
71$1,825,993$603,709$400,704$1,284,991
72$1,970,816$591,863$372,700$1,354,237
73$2,129,107$578,132$342,453$1,429,561
74$2,302,197$562,381$309,846$1,511,595
75$2,491,554$544,471$274,759$1,601,041
76$2,698,793$524,250$237,063$1,698,673
77$2,925,693$501,562$196,628$1,805,347
78$3,174,213$476,238$153,315$1,922,010
79$3,446,510$448,101$106,978$2,049,710
80$3,744,960$416,964$57,468$2,189,602
81$4,072,179$382,628$4,627$2,342,966
82$4,431,050$344,886$0$2,511,215
83$4,824,746$303,514$0$2,699,225
84$5,256,763$258,279$0$2,905,939
85$5,730,953$208,935$0$3,132,978
86$6,251,558$155,220$0$3,382,459
87$6,823,249$96,858$0$3,656,722
88$7,451,175$33,559$0$3,958,350
89$8,141,006$0$0$4,290,192
90$8,898,989$0$0$4,673,106
91$9,732,005$0$0$5,112,664
92$10,647,637$0$0$5,595,888
93$11,654,236$0$0$6,127,196
94$12,761,006$0$0$6,711,454
95$13,978,084$0$0$7,354,024
96$15,316,642$0$0$8,060,813
97$16,788,985$0$0$8,838,329
98$18,408,673$0$0$9,693,745
99$20,190,647$0$0$10,634,961
100$22,151,368$0$0$11,670,684