Can I retire at age 56 with 603,000?

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 $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%12.7%
1 years$49,795$49,352$48,919$48,497$48,084$47,542
2 years$24,651$24,192$23,747$23,316$22,897$22,352
3 years$16,271$15,810$15,366$14,939$14,527$13,995
4 years$12,081$11,622$11,182$10,762$10,361$9,846
5 years$9,569$9,112$8,678$8,267$7,876$7,380
6 years$7,894$7,440$7,013$6,611$6,232$5,756
7 years$6,698$6,248$5,828$5,435$5,068$4,612
8 years$5,802$5,356$4,943$4,559$4,205$3,768
9 years$5,105$4,663$4,257$3,884$3,541$3,124
10 years$4,548$4,111$3,711$3,348$3,017$2,619
11 years$4,092$3,659$3,267$2,913$2,595$2,215
12 years$3,713$3,284$2,900$2,556$2,249$1,888
13 years$3,392$2,968$2,591$2,256$1,961$1,618
14 years$3,117$2,698$2,328$2,003$1,719$1,394
15 years$2,879$2,465$2,102$1,786$1,513$1,205
16 years$2,672$2,261$1,905$1,599$1,338$1,046
17 years$2,488$2,083$1,734$1,437$1,186$910
18 years$2,326$1,924$1,583$1,295$1,054$794
19 years$2,180$1,783$1,449$1,170$940$694
20 years$2,049$1,657$1,330$1,060$840$608
21 years$1,931$1,544$1,223$962$751$534
22 years$1,824$1,441$1,127$874$673$469
23 years$1,726$1,348$1,041$796$605$412
24 years$1,637$1,263$963$726$543$363
25 years$1,555$1,185$892$663$489$320
26 years$1,479$1,114$827$607$440$282
27 years$1,409$1,048$768$555$397$249
28 years$1,344$988$714$509$358$220
29 years$1,284$932$664$466$324$194
30 years$1,227$880$619$428$292$172
31 years$1,175$832$577$393$264$152
32 years$1,126$787$538$361$239$135
33 years$1,080$745$503$332$216$119
34 years$1,037$706$470$306$196$105
35 years$996$670$439$281$177$93
36 years$958$636$411$259$161$83
37 years$922$604$384$239$146$73
38 years$887$574$360$220$132$65
39 years$855$546$337$203$120$58
40 years$824$519$316$187$109$51
41 years$795$494$296$173$99$45
42 years$768$471$278$159$89$40
43 years$741$449$261$147$81$36
44 years$716$428$245$136$74$32
45 years$693$408$230$125$67$28
46 years$670$389$216$116$61$25
47 years$648$371$203$107$55$22
48 years$628$354$191$99$50$19
49 years$608$338$179$91$45$17
50 years$589$323$168$85$41$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $603,000, adding $2,357 every year, while hoping to spend $36,597 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: 60/20/20 Blend
55$603,000$603,000$603,000$603,000
56$666,937$634,978$625,632$703,327
57$696,026$627,153$607,651$720,416
58$726,855$617,718$587,842$734,822
59$759,564$606,556$566,104$749,712
60$794,303$593,541$542,333$765,139
61$831,240$578,543$516,419$781,163
62$870,556$561,421$488,249$797,852
63$912,450$542,028$457,702$815,281
64$957,140$520,207$424,655$833,535
65$1,004,864$495,792$388,977$852,712
66$1,055,883$468,610$350,531$872,919
67$1,110,486$438,474$309,176$894,277
68$1,168,985$405,189$264,763$916,924
69$1,231,726$368,548$217,137$941,010
70$1,299,087$328,331$166,136$966,708
71$1,371,483$284,309$111,591$994,209
72$1,449,369$236,235$53,324$1,023,725
73$1,533,248$183,853$0$1,055,497
74$1,623,667$126,890$0$1,091,680
75$1,721,230$65,057$0$1,142,948
76$1,826,602$0$0$1,198,285
77$1,940,510$0$0$1,258,535
78$2,063,757$0$0$1,339,252
79$2,197,222$0$0$1,426,702
80$2,341,873$0$0$1,521,524
81$2,498,776$0$0$1,624,420
82$2,669,101$0$0$1,736,164
83$2,854,136$0$0$1,857,606
84$3,055,297$0$0$1,989,683
85$3,274,142$0$0$2,133,424
86$3,512,387$0$0$2,289,961
87$3,771,918$0$0$2,460,542
88$4,054,811$0$0$2,646,537
89$4,363,351$0$0$2,849,456
90$4,700,053$0$0$3,070,962
91$5,067,685$0$0$3,312,884
92$5,469,295$0$0$3,577,236
93$5,908,237$0$0$3,866,234
94$6,388,205$0$0$4,182,320
95$6,913,266$0$0$4,528,181
96$7,487,897$0$0$4,906,776
97$8,117,028$0$0$5,321,365
98$8,806,091$0$0$5,775,537
99$9,561,063$0$0$6,273,242
100$10,388,530$0$0$6,818,835