Can I retire at age 56 with 603,000?

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 $603,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$49,795$49,352$48,919$48,497$48,084$47,821
2 years$24,651$24,192$23,747$23,316$22,897$22,632
3 years$16,271$15,810$15,366$14,939$14,527$14,267
4 years$12,081$11,622$11,182$10,762$10,361$10,109
5 years$9,569$9,112$8,678$8,267$7,876$7,633
6 years$7,894$7,440$7,013$6,611$6,232$5,998
7 years$6,698$6,248$5,828$5,435$5,068$4,843
8 years$5,802$5,356$4,943$4,559$4,205$3,989
9 years$5,105$4,663$4,257$3,884$3,541$3,334
10 years$4,548$4,111$3,711$3,348$3,017$2,819
11 years$4,092$3,659$3,267$2,913$2,595$2,405
12 years$3,713$3,284$2,900$2,556$2,249$2,068
13 years$3,392$2,968$2,591$2,256$1,961$1,788
14 years$3,117$2,698$2,328$2,003$1,719$1,554
15 years$2,879$2,465$2,102$1,786$1,513$1,357
16 years$2,672$2,261$1,905$1,599$1,338$1,189
17 years$2,488$2,083$1,734$1,437$1,186$1,045
18 years$2,326$1,924$1,583$1,295$1,054$921
19 years$2,180$1,783$1,449$1,170$940$813
20 years$2,049$1,657$1,330$1,060$840$720
21 years$1,931$1,544$1,223$962$751$638
22 years$1,824$1,441$1,127$874$673$566
23 years$1,726$1,348$1,041$796$605$503
24 years$1,637$1,263$963$726$543$448
25 years$1,555$1,185$892$663$489$399
26 years$1,479$1,114$827$607$440$356
27 years$1,409$1,048$768$555$397$318
28 years$1,344$988$714$509$358$284
29 years$1,284$932$664$466$324$254
30 years$1,227$880$619$428$292$227
31 years$1,175$832$577$393$264$203
32 years$1,126$787$538$361$239$182
33 years$1,080$745$503$332$216$163
34 years$1,037$706$470$306$196$146
35 years$996$670$439$281$177$131
36 years$958$636$411$259$161$117
37 years$922$604$384$239$146$105
38 years$887$574$360$220$132$94
39 years$855$546$337$203$120$84
40 years$824$519$316$187$109$76
41 years$795$494$296$173$99$68
42 years$768$471$278$159$89$61
43 years$741$449$261$147$81$55
44 years$716$428$245$136$74$49
45 years$693$408$230$125$67$44
46 years$670$389$216$116$61$40
47 years$648$371$203$107$55$36
48 years$628$354$191$99$50$32
49 years$608$338$179$91$45$29
50 years$589$323$168$85$41$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $603,000, adding $3,282 every year, while hoping to spend $21,185 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: 80/5/15 Blend
55$603,000$603,000$603,000$603,000
56$667,891$635,932$626,586$719,003
57$713,476$644,552$625,036$761,711
58$762,999$652,885$622,724$805,513
59$816,842$660,893$619,602$852,982
60$875,422$668,538$615,620$904,477
61$939,197$675,779$610,726$960,391
62$1,008,673$682,570$604,863$1,021,161
63$1,084,407$688,865$597,975$1,087,264
64$1,167,011$694,614$590,001$1,159,229
65$1,257,157$699,762$580,878$1,237,636
66$1,355,589$704,252$570,539$1,323,128
67$1,463,123$708,023$558,916$1,416,408
68$1,580,656$711,011$545,934$1,518,256
69$1,709,179$713,147$531,519$1,629,529
70$1,849,782$714,357$515,591$1,751,170
71$2,003,663$714,564$498,067$1,884,220
72$2,172,144$713,685$478,860$2,029,827
73$2,356,679$711,633$457,878$2,189,254
74$2,558,871$708,313$435,028$2,363,893
75$2,780,483$703,628$410,209$2,555,281
76$3,023,459$697,473$383,317$2,765,107
77$3,289,939$689,735$354,245$2,995,237
78$3,582,279$680,299$322,879$3,247,724
79$3,903,076$669,038$289,100$3,524,833
80$4,255,189$655,821$252,785$3,829,058
81$4,641,770$640,507$213,804$4,163,150
82$5,066,286$622,948$172,022$4,530,139
83$5,532,562$602,987$127,300$4,933,365
84$6,044,808$580,457$79,488$5,376,509
85$6,607,662$555,184$28,435$5,863,627
86$7,226,235$526,979$0$6,399,190
87$7,906,157$495,648$0$6,992,296
88$8,653,631$460,980$0$7,649,332
89$9,475,491$422,757$0$8,371,756
90$10,379,264$380,746$0$9,166,193
91$11,373,247$334,700$0$10,039,942
92$12,466,577$284,360$0$11,001,047
93$13,669,325$229,450$0$12,058,371
94$14,992,585$169,682$0$13,221,679
95$16,448,580$104,748$0$14,501,731
96$18,050,780$34,325$0$15,910,385
97$19,814,023$0$0$17,460,704
98$21,754,663$0$0$19,169,393
99$23,890,716$0$0$21,052,237
100$26,242,034$0$0$23,124,850