Can I retire at age 56 with 604,000?

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 $604,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$49,878$49,433$49,000$48,577$48,164$47,076
2 years$24,692$24,232$23,786$23,354$22,935$21,845
3 years$16,298$15,836$15,391$14,963$14,551$13,493
4 years$12,102$11,641$11,201$10,780$10,378$9,359
5 years$9,584$9,127$8,692$8,280$7,889$6,913
6 years$7,907$7,453$7,025$6,622$6,242$5,310
7 years$6,709$6,259$5,838$5,444$5,077$4,189
8 years$5,811$5,365$4,951$4,567$4,212$3,367
9 years$5,113$4,671$4,264$3,890$3,547$2,745
10 years$4,555$4,117$3,718$3,353$3,022$2,263
11 years$4,099$3,665$3,273$2,918$2,599$1,881
12 years$3,719$3,290$2,905$2,560$2,252$1,574
13 years$3,398$2,973$2,595$2,260$1,964$1,324
14 years$3,122$2,702$2,332$2,006$1,722$1,119
15 years$2,884$2,469$2,105$1,789$1,516$950
16 years$2,676$2,265$1,909$1,602$1,340$808
17 years$2,492$2,086$1,737$1,439$1,188$689
18 years$2,329$1,928$1,585$1,297$1,056$589
19 years$2,184$1,786$1,451$1,172$941$505
20 years$2,053$1,660$1,332$1,062$841$433
21 years$1,934$1,546$1,225$963$753$372
22 years$1,827$1,443$1,129$876$675$320
23 years$1,729$1,350$1,043$798$606$275
24 years$1,640$1,265$964$728$544$237
25 years$1,557$1,187$893$664$490$204
26 years$1,481$1,116$828$608$441$176
27 years$1,411$1,050$769$556$398$152
28 years$1,346$989$715$510$359$131
29 years$1,286$933$665$467$324$113
30 years$1,229$881$620$429$293$98
31 years$1,177$833$578$394$265$85
32 years$1,128$788$539$362$239$73
33 years$1,082$747$503$333$217$63
34 years$1,038$708$470$306$196$55
35 years$998$671$440$282$178$47
36 years$959$637$411$260$161$41
37 years$923$605$385$239$146$35
38 years$889$575$361$220$132$31
39 years$856$547$338$203$120$27
40 years$826$520$317$188$109$23
41 years$797$495$297$173$99$20
42 years$769$472$278$160$90$17
43 years$743$449$261$147$81$15
44 years$718$428$245$136$74$13
45 years$694$408$230$126$67$11
46 years$671$390$216$116$61$10
47 years$649$372$203$107$55$8
48 years$629$355$191$99$50$7
49 years$609$339$180$92$46$6
50 years$590$324$169$85$41$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $604,000, adding $4,548 every year, while hoping to spend $23,788 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: 71/12/17 Blend
55$604,000$604,000$604,000$604,000
56$670,299$638,287$628,925$714,908
57$713,360$644,253$624,684$751,125
58$760,015$649,714$619,503$787,473
59$810,606$654,620$613,327$826,659
60$865,510$658,918$606,095$868,958
61$925,139$662,552$597,746$914,677
62$989,947$665,461$588,215$964,152
63$1,060,435$667,582$577,433$1,017,754
64$1,137,152$668,846$565,330$1,075,892
65$1,220,704$669,182$551,831$1,139,018
66$1,311,756$668,513$536,858$1,207,630
67$1,411,042$666,756$520,329$1,282,277
68$1,519,367$663,827$502,159$1,363,563
69$1,637,621$659,632$482,260$1,452,157
70$1,766,779$654,075$460,537$1,548,794
71$1,907,919$647,053$436,892$1,654,287
72$2,062,224$638,456$411,226$1,769,530
73$2,230,998$628,168$383,429$1,895,510
74$2,415,678$616,066$353,392$2,033,317
75$2,617,845$602,021$320,998$2,184,150
76$2,839,239$585,894$286,126$2,349,333
77$3,081,779$567,540$248,648$2,530,326
78$3,347,574$546,803$208,432$2,728,739
79$3,638,952$523,522$165,340$2,946,345
80$3,958,473$497,522$119,226$3,185,103
81$4,308,958$468,622$69,941$3,447,168
82$4,693,514$436,627$17,327$3,734,922
83$5,115,564$401,333$0$4,050,987
84$5,578,877$362,524$0$4,405,297
85$6,087,606$319,971$0$4,797,812
86$6,646,326$273,433$0$5,228,933
87$7,260,075$222,655$0$5,702,571
88$7,934,405$167,368$0$6,223,035
89$8,675,431$107,286$0$6,795,074
90$9,489,891$42,109$0$7,423,923
91$10,385,208$0$0$8,115,347
92$11,369,558$0$0$8,879,464
93$12,451,951$0$0$9,725,836
94$13,642,314$0$0$10,656,670
95$14,951,581$0$0$11,680,521
96$16,391,803$0$0$12,806,815
97$17,976,256$0$0$14,045,941
98$19,719,566$0$0$15,409,342
99$21,637,850$0$0$16,909,627
100$23,748,865$0$0$18,560,690