Can I retire at age 56 with 599,000?

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 $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%11.9%
1 years$49,465$49,024$48,594$48,175$47,765$47,385
2 years$24,488$24,031$23,590$23,161$22,745$22,362
3 years$16,163$15,705$15,264$14,839$14,431$14,056
4 years$12,001$11,545$11,108$10,691$10,292$9,929
5 years$9,505$9,051$8,620$8,212$7,824$7,474
6 years$7,841$7,391$6,967$6,567$6,191$5,854
7 years$6,654$6,207$5,789$5,399$5,035$4,711
8 years$5,763$5,320$4,910$4,529$4,177$3,867
9 years$5,071$4,632$4,229$3,858$3,517$3,221
10 years$4,517$4,083$3,687$3,325$2,997$2,713
11 years$4,065$3,635$3,246$2,894$2,578$2,307
12 years$3,688$3,263$2,881$2,539$2,234$1,975
13 years$3,369$2,949$2,574$2,241$1,948$1,702
14 years$3,097$2,680$2,312$1,989$1,707$1,474
15 years$2,860$2,448$2,088$1,774$1,503$1,281
16 years$2,654$2,246$1,893$1,589$1,329$1,118
17 years$2,472$2,069$1,722$1,427$1,178$979
18 years$2,310$1,912$1,572$1,286$1,047$859
19 years$2,166$1,772$1,439$1,162$934$755
20 years$2,036$1,646$1,321$1,053$834$665
21 years$1,918$1,533$1,215$955$746$587
22 years$1,812$1,431$1,120$869$669$519
23 years$1,715$1,339$1,034$791$600$459
24 years$1,626$1,254$956$722$540$407
25 years$1,544$1,177$886$659$486$361
26 years$1,469$1,106$821$603$437$320
27 years$1,400$1,041$763$552$394$285
28 years$1,335$981$709$505$356$253
29 years$1,275$926$660$463$321$225
30 years$1,219$874$615$425$290$200
31 years$1,167$826$573$391$263$178
32 years$1,118$782$535$359$237$159
33 years$1,073$740$499$330$215$141
34 years$1,030$702$466$304$195$126
35 years$989$666$436$280$176$112
36 years$951$632$408$257$160$100
37 years$915$600$382$237$145$89
38 years$881$570$358$219$131$80
39 years$849$542$335$202$119$71
40 years$819$516$314$186$108$64
41 years$790$491$294$172$98$57
42 years$763$468$276$158$89$51
43 years$737$446$259$146$81$45
44 years$712$425$243$135$73$40
45 years$688$405$228$125$66$36
46 years$665$386$215$115$60$32
47 years$644$369$202$106$55$29
48 years$623$352$189$98$50$26
49 years$604$336$178$91$45$23
50 years$585$321$167$84$41$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $599,000, adding $4,364 every year, while hoping to spend $41,637 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: 69/11/20 Blend
55$599,000$599,000$599,000$599,000
56$664,599$632,852$623,568$706,893
57$688,087$619,561$600,156$722,405
58$712,575$604,222$574,564$734,080
59$738,121$586,693$546,676$745,836
60$764,789$566,820$516,368$757,678
61$792,644$544,441$483,514$769,612
62$821,761$519,386$447,979$781,647
63$852,219$491,474$409,624$793,791
64$884,102$460,513$368,304$806,060
65$917,504$426,301$323,865$818,468
66$952,524$388,625$276,149$831,033
67$989,271$347,257$224,990$843,779
68$1,027,863$301,959$170,214$856,732
69$1,068,430$252,479$111,640$869,923
70$1,111,109$198,550$49,079$883,388
71$1,156,053$139,890$0$897,170
72$1,203,427$76,201$0$915,091
73$1,253,411$7,170$0$944,856
74$1,306,201$0$0$976,092
75$1,362,011$0$0$1,017,094
76$1,421,076$0$0$1,061,421
77$1,483,649$0$0$1,108,398
78$1,550,010$0$0$1,158,236
79$1,620,463$0$0$1,211,166
80$1,695,342$0$0$1,267,440
81$1,775,010$0$0$1,327,336
82$1,859,867$0$0$1,391,156
83$1,950,349$0$0$1,459,231
84$2,046,935$0$0$1,531,923
85$2,150,149$0$0$1,609,632
86$2,260,564$0$0$1,692,793
87$2,378,812$0$0$1,781,885
88$2,505,583$0$0$1,877,431
89$2,641,634$0$0$1,980,007
90$2,787,798$0$0$2,090,245
91$2,944,987$0$0$2,208,838
92$3,114,204$0$0$2,336,547
93$3,296,549$0$0$2,474,209
94$3,493,231$0$0$2,622,740
95$3,705,579$0$0$2,783,152
96$3,935,050$0$0$2,956,551
97$4,183,251$0$0$3,144,157
98$4,451,943$0$0$3,347,308
99$4,743,064$0$0$3,567,479
100$5,058,746$0$0$3,806,287