Can I retire at age 56 with 596,000?

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 $596,000?

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$49,217$48,779$48,351$47,934$47,526$46,283
2 years$24,365$23,911$23,471$23,045$22,631$21,388
3 years$16,082$15,626$15,188$14,765$14,358$13,153
4 years$11,941$11,487$11,053$10,637$10,240$9,082
5 years$9,457$9,006$8,577$8,171$7,785$6,677
6 years$7,802$7,354$6,932$6,534$6,160$5,104
7 years$6,620$6,176$5,760$5,372$5,009$4,005
8 years$5,734$5,294$4,885$4,506$4,156$3,203
9 years$5,046$4,609$4,208$3,839$3,500$2,597
10 years$4,495$4,063$3,668$3,309$2,982$2,129
11 years$4,045$3,617$3,230$2,880$2,565$1,759
12 years$3,670$3,246$2,866$2,526$2,222$1,464
13 years$3,353$2,934$2,561$2,230$1,938$1,224
14 years$3,081$2,667$2,301$1,980$1,699$1,028
15 years$2,846$2,436$2,077$1,765$1,496$867
16 years$2,641$2,235$1,883$1,581$1,322$733
17 years$2,459$2,058$1,714$1,420$1,172$621
18 years$2,299$1,902$1,564$1,280$1,042$528
19 years$2,155$1,763$1,432$1,157$929$449
20 years$2,026$1,638$1,314$1,047$830$382
21 years$1,909$1,526$1,209$951$743$326
22 years$1,803$1,424$1,114$864$666$279
23 years$1,706$1,332$1,029$787$597$238
24 years$1,618$1,248$951$718$537$204
25 years$1,537$1,171$881$656$483$174
26 years$1,462$1,101$817$600$435$149
27 years$1,393$1,036$759$549$392$128
28 years$1,328$976$706$503$354$110
29 years$1,269$921$657$461$320$94
30 years$1,213$870$612$423$289$81
31 years$1,161$822$570$389$261$69
32 years$1,113$778$532$357$236$59
33 years$1,067$737$497$328$214$51
34 years$1,025$698$464$302$194$44
35 years$984$662$434$278$175$38
36 years$947$629$406$256$159$32
37 years$911$597$380$236$144$28
38 years$877$567$356$218$131$24
39 years$845$540$333$201$118$20
40 years$815$513$312$185$107$18
41 years$786$489$293$171$97$15
42 years$759$465$275$158$88$13
43 years$733$443$258$145$80$11
44 years$708$423$242$134$73$10
45 years$685$403$227$124$66$8
46 years$662$384$213$115$60$7
47 years$641$367$201$106$55$6
48 years$620$350$188$98$49$5
49 years$601$334$177$90$45$4
50 years$582$320$167$84$41$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $596,000, adding $3,466 every year, while hoping to spend $25,075 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: 38/41/21 Blend
55$596,000$596,000$596,000$596,000
56$660,367$628,779$619,541$681,194
57$701,045$632,910$613,616$700,712
58$745,032$636,402$606,652$719,178
59$792,638$639,199$598,588$738,623
60$844,206$641,239$589,360$759,151
61$900,111$642,456$578,900$780,876
62$960,768$642,782$567,138$803,927
63$1,026,630$642,142$554,001$828,445
64$1,098,198$640,458$539,412$854,591
65$1,176,021$637,648$523,289$882,542
66$1,260,706$633,623$505,550$912,494
67$1,352,917$628,290$486,105$944,667
68$1,453,388$621,549$464,863$979,307
69$1,562,925$613,296$441,727$1,016,683
70$1,682,415$603,419$416,597$1,057,099
71$1,812,835$591,801$389,367$1,100,890
72$1,955,261$578,316$359,927$1,148,429
73$2,110,876$562,832$328,163$1,200,129
74$2,280,984$545,209$293,955$1,256,450
75$2,467,018$525,298$257,177$1,317,902
76$2,670,560$502,944$217,697$1,385,051
77$2,893,347$477,979$175,381$1,458,524
78$3,137,297$450,227$130,084$1,539,017
79$3,404,517$419,504$81,658$1,627,300
80$3,697,331$385,613$29,947$1,724,229
81$4,018,297$348,347$0$1,830,751
82$4,370,232$307,485$0$1,953,568
83$4,756,240$262,796$0$2,095,717
84$5,179,739$214,035$0$2,251,805
85$5,644,492$160,943$0$2,423,298
86$6,154,648$103,247$0$2,611,813
87$6,714,774$40,658$0$2,819,140
88$7,329,902$0$0$3,047,255
89$8,005,575$0$0$3,310,579
90$8,747,899$0$0$3,620,116
91$9,563,602$0$0$3,960,341
92$10,460,093$0$0$4,334,353
93$11,445,539$0$0$4,745,572
94$12,528,933$0$0$5,197,763
95$13,720,186$0$0$5,695,073
96$15,030,216$0$0$6,242,073
97$16,471,052$0$0$6,843,801
98$18,055,947$0$0$7,505,802
99$19,799,505$0$0$8,234,192
100$21,717,813$0$0$9,035,706