Can I retire at age 56 with 599,000?

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 $599,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$49,465$49,024$48,594$48,175$47,765$47,051
2 years$24,488$24,031$23,590$23,161$22,745$22,028
3 years$16,163$15,705$15,264$14,839$14,431$13,732
4 years$12,001$11,545$11,108$10,691$10,292$9,617
5 years$9,505$9,051$8,620$8,212$7,824$7,175
6 years$7,841$7,391$6,967$6,567$6,191$5,568
7 years$6,654$6,207$5,789$5,399$5,035$4,439
8 years$5,763$5,320$4,910$4,529$4,177$3,608
9 years$5,071$4,632$4,229$3,858$3,517$2,975
10 years$4,517$4,083$3,687$3,325$2,997$2,481
11 years$4,065$3,635$3,246$2,894$2,578$2,087
12 years$3,688$3,263$2,881$2,539$2,234$1,768
13 years$3,369$2,949$2,574$2,241$1,948$1,507
14 years$3,097$2,680$2,312$1,989$1,707$1,290
15 years$2,860$2,448$2,088$1,774$1,503$1,109
16 years$2,654$2,246$1,893$1,589$1,329$956
17 years$2,472$2,069$1,722$1,427$1,178$827
18 years$2,310$1,912$1,572$1,286$1,047$717
19 years$2,166$1,772$1,439$1,162$934$623
20 years$2,036$1,646$1,321$1,053$834$542
21 years$1,918$1,533$1,215$955$746$472
22 years$1,812$1,431$1,120$869$669$412
23 years$1,715$1,339$1,034$791$600$360
24 years$1,626$1,254$956$722$540$315
25 years$1,544$1,177$886$659$486$275
26 years$1,469$1,106$821$603$437$241
27 years$1,400$1,041$763$552$394$211
28 years$1,335$981$709$505$356$185
29 years$1,275$926$660$463$321$163
30 years$1,219$874$615$425$290$143
31 years$1,167$826$573$391$263$125
32 years$1,118$782$535$359$237$110
33 years$1,073$740$499$330$215$97
34 years$1,030$702$466$304$195$85
35 years$989$666$436$280$176$75
36 years$951$632$408$257$160$66
37 years$915$600$382$237$145$58
38 years$881$570$358$219$131$51
39 years$849$542$335$202$119$45
40 years$819$516$314$186$108$39
41 years$790$491$294$172$98$35
42 years$763$468$276$158$89$30
43 years$737$446$259$146$81$27
44 years$712$425$243$135$73$23
45 years$688$405$228$125$66$21
46 years$665$386$215$115$60$18
47 years$644$369$202$106$55$16
48 years$623$352$189$98$50$14
49 years$604$336$178$91$45$12
50 years$585$321$167$84$41$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $599,000, adding $6,540 every year, while hoping to spend $45,435 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: 86/7/7 Blend
55$599,000$599,000$599,000$599,000
56$666,844$635,097$625,813$723,260
57$686,520$617,874$598,435$743,812
58$706,679$598,285$568,617$759,465
59$727,325$576,165$536,230$775,210
60$748,455$551,341$501,137$791,026
61$770,070$523,629$463,198$806,888
62$792,166$492,835$422,263$822,767
63$814,737$458,754$378,179$838,633
64$837,777$421,169$330,785$854,450
65$861,274$379,851$279,910$870,182
66$885,216$334,556$225,379$885,784
67$909,588$285,028$167,009$901,210
68$934,369$230,998$104,607$916,407
69$959,535$172,178$37,972$931,318
70$985,059$108,266$0$945,880
71$1,010,908$38,944$0$962,496
72$1,037,042$0$0$981,801
73$1,063,418$0$0$1,003,671
74$1,089,982$0$0$1,028,716
75$1,116,676$0$0$1,053,880
76$1,143,432$0$0$1,079,097
77$1,170,171$0$0$1,104,295
78$1,196,807$0$0$1,129,390
79$1,223,239$0$0$1,154,287
80$1,249,353$0$0$1,178,879
81$1,275,024$0$0$1,203,046
82$1,300,108$0$0$1,226,651
83$1,324,444$0$0$1,249,541
84$1,347,851$0$0$1,271,547
85$1,370,128$0$0$1,292,475
86$1,391,048$0$0$1,312,112
87$1,410,359$0$0$1,330,217
88$1,427,778$0$0$1,346,524
89$1,442,992$0$0$1,360,734
90$1,455,648$0$0$1,372,514
91$1,465,359$0$0$1,381,495
92$1,471,688$0$0$1,387,265
93$1,474,154$0$0$1,389,367
94$1,472,221$0$0$1,387,292
95$1,465,294$0$0$1,380,475
96$1,452,711$0$0$1,368,292
97$1,433,741$0$0$1,350,047
98$1,407,570$0$0$1,324,969
99$1,373,300$0$0$1,292,206
100$1,329,931$0$0$1,250,812